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For its fiscal third quarter, ended October 31, PLAN’s revenues increased 35.2% year-over-year to $155.35 million, topping consensus estimates by 6.2%. The company also raised its revenue guidance for the fiscal year. The company now expects its total revenues to be in the range of $583.5 to $584.5 million. However, the main reason for the share-price decline is the company’s heavy losses. Its non-GAAP net loss came in at $7.31 million, while its non-GAAP loss per share was $0.05. Moreover, investors are concerned about PLAN’s sluggish growth in billings.
PLAN has been investing in advancements to gain a competitive edge. It recently introduced its next-generation Anaplan Polaris™ Calculation Engine to help businesses model, analyze, and solve the global complexities impacting their performance and operations more effectively. Also, PLAN and Amazon (NASDAQ:AMZN) Web Services, Inc (AWS) have collaborated to combine market-leading innovation with powerful planning intelligence and deliver innovation and more robust solutions in the market. These strategic plays should support PLAN’s long-term growth.
