E2open Parent Holdings Inc (NYSE:ETWO) achieved a double-digit organic growth rate in Q2

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E2open Parent Holdings Inc (NYSE:ETWO) stock fell 0.17% (As on Oct 14, 11:49:26 AM UTC-4, Source: Google Finance) after the company in the second quarter of FY 22 has reported 12.8% rise in the Total non-GAAP revenue was $92.3 million compared to $81.8 million in the fiscal second quarter of 2021. E2open was able to achieve a double-digit organic growth rate one quarter early from previous expectations. Fiscal second quarter 2022 non-GAAP subscription revenue was up 10.0% to $75.9 million compared to $69.0 million from the prior fiscal second quarter. The company has reported net loss for the fiscal second quarter of 2022 of $24 million compared to a net loss of $17.5 million in the same quarter of 2021. Adjusted EBITDA was $33.5 million with a margin of 36.3%, an increase from $26.2 million in the fiscal second quarter 2021 with a margin of 32.0%. The company has generated cash by operating activities of $41.5 million for the second quarter of fiscal 2022, compared to cash provided by operating activities of $42.0 million in the prior year period.

Meanwhile, the company has closed the acquisition of BluJay Solutions, a leading cloud-based, logistics execution platform on September 1, 2021. The combination will provide more robust capabilities and value to our customers while helping E2open to accelerate long-term growth. E2open has recently entered a strategic partnership with Vizient, the nation’s largest member-driven health care services company to bring increased resiliency, transparency, and collaboration to their health care supply chain.

For fiscal 2022, the company has reaffirmed its non-GAAP revenue guidance which it raised in conjunction with the BluJay closure on September 1, 2021. E2open is also raising its adjusted EBITDA guidance for its full fiscal year 2022, which ends February 28, 2022. Total non-GAAP revenue is expected to be in the range of $470 million to $474 million reflecting a more than 10% growth rate. Adjusted EBITDA is expected to be in the range of $161 million to $163 million versus prior guidance of $158 million provided at the announcement of the BluJay transaction. Total synergies related to the recent BluJay combination are projected to be $25 million compared to $20 million announced previously. The company expects to achieve between 50 to 60% run-rate savings by the end of fiscal 2022.Non-GAAP gross profit margin is expected to be in the range of 70% to 72%.

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