Blue Yonder Announces Strong Second Quarter 2022 Results

Rhea-AI Summary

Blue Yonder reported strong Q2 2022 results with SaaS revenue rising 38% year-over-year to $125 million, comprising 40% of total revenue. Total revenue reached $309 million, a 14% increase from Q2 2021. Subscription revenue stood at $211 million. The company achieved a SaaS net revenue retention rate of 108% and added 59 new customers in the quarter. Blue Yonder was recognized as a Leader by Gartner in multiple Magic Quadrant reports, underscoring its position as a leading provider in supply chain software.

Positive

• SaaS revenue up 38% to $125 million.
• Total revenue increased 14% to $309 million.
• Subscription revenue rose 13% to $211 million.
• SaaS net revenue retention rate at 108%.
• Added 59 new customer logos and 19 deals over $500,000.
• Recognized as a Leader in three Gartner Magic Quadrant reports.

Negative

• None.

Second quarter SaaS revenue grew 38% year-over-year

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Blue Yonder Holding, Inc. (Blue Yonder), announced unaudited results for the fiscal second quarter ending June 30, 2022. SaaS revenue grew to $125 million in Q2 2022, up 38% compared to Q2 2021 and comprised 40% of total revenue. SaaS annualized recurring revenue (ARR) for Q2 2022 was $514 million, up 29% compared to Q2 2021. Total subscription revenue¹ represented 68% of total revenue.

“With strong results for the second quarter this year, Blue Yonder is well-positioned for continued success. I am so excited to be leading one of the largest supply chain software companies at such a critical time, when supply chain and e-commerce are at the center of every board room conversation. We will continue to elevate our leading platform and solution offerings to ensure our customers are successful in delivering on their consumer promises during this time of great disruption. Our goal is to fulfill their potential by leveraging a cloud-based, product-first strategy that enables customers to rapidly accelerate their digital transformations,” said Duncan Angove, CEO, Blue Yonder.

Further demonstrating the company’s industry leadership, Blue Yonder was recently positioned by Gartner® as a Leader in its 2022 Magic Quadrant™ for Warehouse Management Systems (WMS)². Blue Yonder is the only company recognized a Leader in three Gartner Magic Quadrant reports³ covering Supply Chain Planning, Transportation Management Systems and Warehouse Management Systems.

Second Quarter 2022 Highlights (unaudited)
Total revenue for Q2 2022 was $309 million, up $37 million or 14% year-over-year. Subscription revenue was $211 million for Q2 2022, up $24 million or 13% compared to Q2 2021.

SaaS net revenue retention rate (NRR)⁴, a key metric which demonstrates that customers are expanding their business with Blue Yonder, was 108% for Q2 2022.

Q2 2022 Customer Momentum
Blue Yonder added 59 new customer logos in Q2 2022 and closed 19 new deals over $500,000. Some of the customers who selected or extended their footprint with Blue Yonder during the quarter include:

• Americas: ABC Fine Wine, Armada, Federated Co-operatives Limited, Ingram Micro, InterChange Group, Panasonic North America
• APAC/EMEA: Avary Holding, Clipper Logistics, Mahindra & Mahindra, Panasonic Operational Excellence Co., Ltd., Sainsbury's, Seiyu Co., Ltd., Universal Robina Corporation, Yokohama India

Sources:
¹ Subscription revenue includes fees from maintenance services, cloud services and term software licenses.
² Gartner, Magic Quadrant for Warehouse Management Systems, Simon Tunstall, Dwight Klappich, Rishabh Narang, 1 June 2022.
³ Gartner, “Magic Quadrant for Warehouse Management Systems,” Simon Tunstall, Dwight Klappich, Rishabh Narang, 1 June 2022; “Magic Quadrant for Transportation Management Systems,” Brock Johns, Oscar Sanchez Duran, Carly West, 29 March 2022; “Magic Quadrant for Supply Chain Planning Solutions,” Amber Salley, Tim Payne, Pia Orup Lund, Janet Suleski, 16 May 2022.
⁴ Net revenue retention rate includes impact of customer attrition and expansion year over year and excludes impact from new customers.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Blue Yonder
Blue Yonder is the world leader in digital supply chain transformations and omni-channel commerce fulfillment. Our end-to-end, cognitive business platform enables retailers, manufacturers and logistics providers to best fulfill customer demand from planning through delivery. With Blue Yonder, you’ll unify your data, supply chain and retail commerce operations to unlock new business opportunities and drive automation, control and orchestration to enable more profitable, sustainable business decisions. Blue Yonder - Fulfill your Potential™ blueyonder.com

“Blue Yonder” is a trademark or registered trademark of Blue Yonder Group, Inc. Any trade, product or service name referenced in this document using the name “Blue Yonder” is a trademark and/or property of Blue Yonder Group, Inc. All other company and product names may be trademarks, registered trademarks or service marks of the companies with which they are associated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005400/en/

Blue Yonder Public Relations Contacts:

Marina Renneke, APR, Corporate Communications Director

Tel: +1 480-308-3037, marina.renneke@blueyonder.com

Source: Blue Yonder Holding, Inc.

FAQ

What was Blue Yonder's SaaS revenue for Q2 2022?

Blue Yonder's SaaS revenue for Q2 2022 was $125 million, a 38% increase year-over-year.

What is Blue Yonder's total revenue for the second quarter of 2022?

Total revenue for Blue Yonder in Q2 2022 was $309 million, up 14% from the previous year.

How many new customers did Blue Yonder acquire in Q2 2022?

Blue Yonder added 59 new customer logos in Q2 2022.

What is the net revenue retention rate for Blue Yonder in Q2 2022?

Blue Yonder reported a SaaS net revenue retention rate of 108% for Q2 2022.

In which Gartner Magic Quadrant reports is Blue Yonder recognized as a Leader?

Blue Yonder is recognized as a Leader in Supply Chain Planning, Transportation Management Systems, and Warehouse Management Systems.