PLAN - Why Anaplan Stock Plunged Today
Shares of Anaplan (NYSE: PLAN) have plunged today, down by 19% as of 2:20 p.m. EST, after the company reported fiscal fourth-quarter earnings. The results beat expectations, but investors are worried about slowing growth and the departure of the software specialist's chief growth officer.
Revenue in the fiscal fourth quarter increased 42% to $98.2 million, which topped the market's expectations of $97.2 million in sales. That led to an adjusted net loss of $0.07 per share, which was better than the $0.10 per share in adjusted net losses that analysts were modeling for. Remaining performance obligation was $656 million, while dollar-based net expansion rate came in at 122%.
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