E2open Parent Holdings Inc (NYSE:ETWO) stock plunges 17.28% (As on July 12, 11:45:21 AM UTC-4, Source: Google Finance) though the company in the first quarter of FY 23 has reported the net loss of $12.6 million, which improved compared to $169.4 million from the year-ago comparable period. Adjusted EBITDA for the first quarter of 2023 grew 12.4% or 10.7% on a constant currency basis from the year-ago comparable period to $51.4 million. Adjusted EBITDA margin was 31.6% or 31.1% on a constant currency basis versus 31.3% from the year-ago comparable period. GAAP subscription revenue for the first quarter of 2023 grew 153.9% from the year-ago comparable period to $129.5 million or 80.8% of total revenue. Organic subscription revenue growth was 10.7% or 12.1% on a constant currency basis. Total GAAP revenue for the first quarter of 2023 grew 141.8% from the year-ago comparable period to $160.4 million. Total organic revenue growth was 9.8% or 11.4% on a constant currency basis. Non-GAAP gross profit grew 9.3% or 10.3% on a constant currency basis from the year-ago comparable period to $111.3 million. Non-GAAP gross margin was 69.4% or 69.1% on a constant currency basis compared to 69.7% from the year-ago comparable period.

On the other hand, the company has expanded the partnership with Uber Freight, to leverage e2open’s carrier network to provide clients with real-time domestic capacity and rate options, lowering clients’ transportation costs. This represents e2open’s sixth revenue-generating partnership in six quarters. The company has also expanded into a strategic partnership with Accenture, e2open’s second strategic partnership with the integrator ecosystem in two quarters, a major step in our objective of expanding e2open’s ecosystem to include multiple strategic integrator partners.

For fiscal 2023, the company expects GAAP subscription revenue for fiscal 2023 is expected to be in the range of $538 million to $546 million versus prior guidance of $545 million to $553 million, total GAAP revenue is expected to be in the range of $672 million to $680 million versus prior guidance of $681 million to $689 million, adjusted EBITDA is reaffirmed in the range of $217 million to $223 million and Non-GAAP gross profit margin is expected to be in the range of 68% to 70% versus prior guidance of 69% to 71%.

GAAP subscription revenue for the fiscal second quarter of 2023 is expected to be in the range of $129 million to $132 million.