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E2open Parent Holdings, Inc. (ETWO) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, February 28, 2021

E2open Parent Holdings, Inc.

CIK: 1800347 Ticker: ETWO

Exhibit 99.1

 

 

E2open Announces Fiscal Fourth Quarter and Fiscal Year 2021 Financial Results

Exceeded Guidance for Fiscal Year 2021

Raises Fiscal Year 2022 Guidance

 

AUSTIN, Texas – May 18, 2021 –

E2open Parent Holdings, Inc. (NYSE: ETWO), a leading network-based provider of 100% cloud-based, mission-critical, end-to-end supply chain management software, today announced financial results for its fiscal fourth quarter and fiscal year ended February 28, 2021.

 

“We are pleased to report a strong fourth quarter and full fiscal 2021 as we begin a new chapter as a publicly traded company. We are excited to start off by beating our fiscal 2021 guidance and we are raising our fiscal 2022 guidance,” said Michael Farlekas, president and chief executive officer at E2open.

 

In addition to our strong financial results, E2open is pleased to report significant progress in all three previously identified categories to further the Company’s organic growth: the formation of the new logo sales team, new strategic partnerships, and to further monetize E2open’s data network,” Farlekas continued. “This gives the Company increased confidence that our long-term revenue growth will be in excess of our 10% organic revenue growth target.”

 

Fiscal Fourth Quarter 2021 Financial Highlights

 

 

Revenue: Total revenue for the combined Successor and Predecessor periods in the fourth quarter of fiscal year 2021 reached $81.0 million, a decrease of 3.8% from $84.2 million in the fiscal fourth quarter of 2020. Total non-GAAP revenue was $88.8 million, an increase of 5.5% compared to $84.2 million in the fiscal fourth quarter of 2020.

 

Subscription revenue for the combined Successor and Predecessor periods in fiscal fourth quarter of 2021 was $64.8 million compared to $67.5 million in the prior year period.  This decline in subscription revenue was largely due to purchase accounting adjustments to reduce the carrying value of deferred revenue to its fair value on the date of the CCNB1 combination.  Fiscal fourth quarter 2021 non-GAAP subscription revenue, adjusted for this fair value reduction, was up 7.6% to $72.6 million compared to $67.5 million from the prior fiscal fourth quarter.

 

 

Gross Profit: Gross profit for the combined Successor and Predecessor periods in the fiscal fourth quarter of 2021 was $42.6 million, a decrease of 15.1% compared with $50.2 million in the same quarter of 2020. This decrease in gross profit was largely due to the purchase accounting adjustment noted above.  Non-GAAP gross profit for the fiscal fourth quarter of 2021 was $63.4 million, an increase of 8.6% compared with the prior year's fourth quarter.

 

Gross Margin: Gross margin was 53% versus 60% in the combined Successor and Predecessor periods for the fiscal fourth quarter of 2021 versus 2020, respectively. Non-GAAP gross margin was 71% compared to 69% in the fiscal fourth quarter of 2020.


The following information was filed by E2open Parent Holdings, Inc. (ETWO) on Tuesday, May 18, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Tables)
Accounts Payable And Accrued Liabilities - Schedule Of Accrued Expenses And Other Current Liabilities (Details)
Business Combination And Acquisitions
Business Combination And Acquisitions (Tables)
Business Combination And Acquisitions - Additional Information (Details)
Business Combination And Acquisitions - Schedule Of Allocation Of Purchase Price To Net Assets Acquired Based On Estimated Fair Values, As Well As Associated Estimated Useful Lives Of Acquired Intangible Assets (Details)
Business Combination And Acquisitions - Schedule Of Preliminary Allocation Of Purchase Price To Predecessor's Tangible And Intangible Assets Acquired And Liabilities Assumed Based On Fair Value (Details)
Business Combination And Acquisitions - Schedule Of Preliminary Allocation Of Purchase Price To Predecessor's Tangible And Intangible Assets Acquired And Liabilities Assumed Based On Fair Value (Parenthetical) (Details)
Business Combination And Acquisitions - Summary Of Equity Consideration Paid To E2 Open Holdings Equity Holders (Details)
Business Combination And Acquisitions - Summary Of Estimated Fair Value (Parenthetical) (Details)
Business Combination And Acquisitions - Summary Of Estimated Fair Value Of Business Combination (Details)
Business Combination And Acquisitions - Summary Of Estimated Fair Value Of Business Combination (Parenthetical) (Details)
Business Combination And Acquisitions - Summary Of Fair Value Of Intangible Assets (Details)
Business Combination And Acquisitions - Summary Of Fair Value Of Noncontrolling Interest (Details)
Business Combination And Acquisitions - Summary Of Unaudited Pro Forma Information (Details)
Commitments &Amp; Contingencies
Commitments &Amp; Contingencies (Tables)
Commitments &Amp; Contingencies - Additional Information (Details)
Commitments &Amp; Contingencies - Schedule Of Future Minimum Payments Under Non-Cancelable Operating Leases (Details)
Contingent Consideration
Contingent Consideration - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Summary Of Basic And Diluted Per Share Computations For Net Income (Details)
Earnings Per Share - Summary Of Weighted Average Potential Common Shares Excluded From Diluted Loss Per Common Shares (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Reconciliation Of Beginning And Ending Balances Of Acquisition Related Accrued Earn-Outs Using Significant Unobservable Inputs (Level 3) (Details)
Fair Value Measurement - Reconciliation Of Warrant Liability (Details)
Fair Value Measurement - Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurement - Summary Of Investments (Details)
Goodwill
Goodwill (Tables)
Goodwill - Schedule Of Changes In Goodwill (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Components Of Income (Loss) Before Income Tax Benefit (Details)
Income Taxes - Schedule Of Income Tax Benefit (Details)
Income Taxes - Schedule Of Income Tax Provision Differs From Us Federal Income Tax (Details)
Income Taxes - Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefit (Details)
Income Taxes -Temporary Differences Of Deferred Tax Assets And Liabilities (Details)
Intangible Assets, Net
Intangible Assets, Net (Tables)
Intangible Assets, Net - Additional Information (Details)
Intangible Assets, Net - Schedule Of Future Amortization Of Intangibles (Details)
Intangible Assets, Net - Schedule Of Intangible Assets, Net (Details)
Liquidity And Capital Resources
Liquidity And Capital Resources (Details)
Noncontrolling Interests
Noncontrolling Interests (Details)
Notes Payable And Capital Lease Obligations
Notes Payable And Capital Lease Obligations (Tables)
Notes Payable And Capital Lease Obligations - Additional Information (Details)
Notes Payable And Capital Lease Obligations - Schedule Of Future Principal Payment Obligations Of Company's Notes Payable (Details)
Notes Payable And Capital Lease Obligations - Schedule Of Notes Payable And Capital Lease Obligations Outstanding (Details)
Organization And Description Of Business
Organization And Description Of Business - Additional Information (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) (Tables)
Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) In The Equity Section Of The Company Consolidated Balance Sheets (Details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (Tables)
Prepaid Expenses And Other Current Assets - Schedule Of Prepaid Expenses And Other Current Assets (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net- Schedule Of Property And Equipment, Net (Details)
Property And Equipment, Net- Schedule Of Property And Equipment, Net By Geographic Regions (Details)
Related Party Transactions
Related Party Transactions - (Details)
Retirement Plans
Retirement Plans (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Additional Information1 (Details)
Revenue - Revenue By Geographic Region (Details)
Schedule Ii ??? Valuation And Qualifying Accounts
Schedule Ii ??? Valuation And Qualifying Accounts (Details)
Severance And Exit Costs
Severance And Exit Costs (Tables)
Severance And Exit Costs - Additional Information (Details)
Severance And Exit Costs - Schedule Of Changes In Severance And Exit Costs Accruals (Details)
Severance And Exit Costs - Schedule Of Severance And Exit Costs Included In Acquisitions (Details)
Share-Based And Unit-Based Compensation
Share-Based And Unit-Based Compensation (Tables)
Share-Based And Unit-Based Compensation - Additional Information (Details)
Share-Based And Unit-Based Compensation - Schedule Of Functional Classification In The Consolidated Statements Of Operations (Details)
Share-Based And Unit-Based Compensation - Schedule Of Restricted Equity Plan (Details)
Share-Based And Unit-Based Compensation - Summary Of Estimated Grant-Date Fair Values Assumptions (Details)
Share-Based And Unit-Based Compensation - Summary Of Unit Option Plan (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Schedule Of Changes In Outstanding Stock (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Adoption Of New Revenue Standard Impacted Consolidated Statement Of Operations (Details)
Summary Of Significant Accounting Policies - Amortization Periods For Definite-Lived Intangible Assets (Details)
Summary Of Significant Accounting Policies - Summary Of Cumulative Effects Of Adopting Asc 606 On Consolidated Balance Sheet (Details)
Tax Receivable Agreement
Tax Receivable Agreement (Details)
Warrants
Warrants - Additional Information (Details)
Ticker: ETWO
CIK: 1800347
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-029113
Submitted to the SEC: Thu May 20 2021 5:21:31 PM EST
Accepted by the SEC: Thu May 20 2021
Period: Sunday, February 28, 2021
Industry: Computer Processing And Data Preparation

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