E2open Parent Holdings, Inc. (NYSE: ETWO) has announced the initiation of a strategic review aimed at enhancing shareholder value and strengthening its position in the supply chain management software market. The company's board of directors and management are committed to acting in the best interests of the company and its stakeholders. This move comes as the company continues to expect its FY2024 financial guidance.
E2open reaffirms its most recent FY2024 financial guidance, expecting subscription revenue in the range of $533 million to $536 million and total revenue in the range of $628 million to $633 million. The non-GAAP gross profit margin is expected to be in the range of 68% to 70%, and adjusted EBITDA in the range of $215 million to $220 million for the full year ended February 29, 2024.
The company has not set a definitive timetable for the completion of the strategic review process, and there is no assurance that it will result in any particular outcome. E2open's actual FY24 financial results are pending completion of the company’s year-end financial reporting processes, reviews, audit, and potential adjustments that may result.
Rothschild & Co is acting as the lead financial advisor to E2open, with Citi as the financial advisor and Kirkland & Ellis serving as legal counsel.
E2open is a connected supply chain software platform that connects over 480,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network, tracking over 15 billion transactions annually. The company's SaaS platform anticipates disruptions and opportunities to help companies improve efficiency, reduce waste, and operate sustainably.
Following these announcements, the company's shares moved 6.4%, and are now trading at a price of $4.31. For the full picture, make sure to review E2open Parent's 8-K report.
