E2open Parent Holdings, Inc. reported its financial results for the fiscal third quarter ended November 30, 2024. GAAP subscription revenue reached $132.0 million, exceeding the midpoint of Q3 guidance, though it was a slight decrease from $132.8 million in the prior year quarter. Total GAAP revenue for the quarter was $151.7 million, down 3.7% year-over-year from $157.5 million.
The company reported a significant net loss attributable to E2open Parent Holdings, Inc. of $(346.910) million, compared to $(667.556) million in Q3 FY24. This substantial loss was primarily due to non-cash goodwill impairment charges of $369.1 million and intangible asset impairment charges of $10.0 million recognized during the quarter. Basic earnings per share were $(1.12), compared to $(2.20) in the prior year.
E2open maintained strong adjusted EBITDA and cash flow during the quarter. The company modestly narrowed its full-year subscription revenue guidance, primarily attributing the change to U.S. dollar strengthening, while reiterating its full-year adjusted EBITDA guidance. Management stated that the comprehensive return-to-growth plan remains on track, with significant improvements in retention performance and new business wins.
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