E2open Parent Holdings Inc (NYSE:ETWO) stock fell 10.82% (As on Jan 13, 11:08:53 AM UTC-4, Source: Google Finance) after the company posted mixed result for the third quarter of FY 22. The company has reported net loss for the third quarter of 2022 was $64.3 million compared with a net loss of $27.1 million in the comparable quarter of 2021. Non-GAAP subscription revenue was $117.4 million compared to a non-GAAP pro forma of $105.6 million from the prior third quarter, reflecting non-GAAP revenue growth of 11.2%. For the nine months ended November 30, 2021, cash provided by operating activities was $28.2 million compared to $30.1 million in the prior year period.

ETWO in the third quarter of FY 22 has reported the adjusted loss per share of 19 cents, missing the analysts’ estimates for the adjusted earnings per share by 19 cents. The company had reported the adjusted revenue of $147.4 million in the third quarter of FY 22, beating the analysts’ estimates for revenue by $8.41 million. Adjusted EBITDA was $45.9 million, an increase from non-GAAP pro forma adjusted EBITDA of $45.2 million in the third quarter 2021. The prior period non-GAAP pro forma adjusted EBITDA of $45.2 million represents the combination of E2open adjusted EBITDA and BluJay adjusted EBITDA for the period, as if BluJay was acquired on September 1, 2020.

For full fiscal year 2022, E2open is increasing its total non-GAAP revenue guidance range to $474 million to $476 million reflecting a 10.2% organic growth rate at the mid-point. 2022 Adjusted EBITDA is expected to be in the range of $161 million to $163 million and Non-GAAP gross profit margin is expected to be in the range of 70% to 72%.

Meanwhile, the company continues to build out a new logo sales team to drive performance in organic revenue growth. Nearly 30% of new bookings in the third quarter of 2022 came from new logos, compared to 15% in the third quarter of 2021. Average enterprise new logo contract size (over $100k of annual subscription revenue) was more than double that of the third quarter 2021 which was around $200k. This reflects greater scope, scale and pricing for initial client engagements. E2open recently launched “Global Logistics Orchestration” a network-based product that enables our customers to orchestrate materials and finished product to move across their network of carriers, across modes, regardless of whether movements are initiated by internal logistics teams or third-party logistics service providers or both.