Supply Chain Cloud Platform Technology provider E2open announced preliminary financial results for the fiscal fourth quarter and year ended February 28, 2021. The Cloud technology provider became a publicly traded SPAC merged company under the name of E2Open Parent Holdings, Inc in October of last year.
According to the announcement: “E2open expects fiscal year 2021 revenue to meet or exceed guidance of $335 million and expects Adjusted EBITDA to be modestly above the guidance provided during the Company’s combination with CC Neuberger Principal Holdings I through an investor presentation filed with the SEC on January 8, 2021 and later updated and filed with the SEC on March 9, 2021.”
For the upcoming fiscal year 2022 which or the company begins on March 1, 2021, the technology provider indicates approximately 10 percent organic sales growth within a range from $367 to $371 million. That is reportedly above the guidance provided in early January.
In the announcement, Michael Farlekas, President and Chief Executive Officer indicated:
“We are proud of our strong execution throughout this challenging year, and we are pleased to report that we ended fiscal year 2021 with a solid quarter that positions us well for fiscal year 2022. Our customers are increasingly recognizing the benefits of E2open’s supply chain operating platform, and we are thrilled to continue adding value to our existing and future customers with new strategic partnerships and an expanded salesforce.”
E2open Parent Holdings further reiterated recent partnership announcements.
Dun and Bradstreet
Dun & Bradstreet, Inc., a global provider of business decisioning data and analytics, and E2open are collaborating on data-driven solutions that will help businesses gain the real-time shipping and supply chain insights they need to better manage operational, compliance and credit risks. New initiatives include leveraging the use of D&B Analytics Studio, a Cloud-based analytics platform that will combine Dun & Bradstreet’s Data Cloud of over 420 million global businesses and data science resources with E2open’s shipping and supply chain data in order to discover the ripple effect that global incidents such as the recent COVID-19 pandemic.
Recognized as one of the largest container shipping line and vessel operators in the world and a long term E2open client, a new fourth party logistics service offering (4PL), Maersk NeoNav, is being designed to integrate a wide range of information from various sources including platforms and services providers across both physical and digital sources. E2open technology helps to power Maersk NeoNav™, which has already attracted multiple global manufacturers over a short time in market, further supporting the expansion of E2open’s market opportunity.
© Copyright 2021, The Ferrari Consulting and Research Group and the Supply Chain Matters® blog. All rights reserved.