Shares of SaaS platform E2open Parent Holdings, Inc ETWO are trading higher after it initiated a strategic review for the company.
The review will evaluate options to enhance shareholder value and further strengthen e2open’s position in the supply chain management software market.
“We have recently brought new senior leadership into the Company who have already made progress executing a comprehensive and customer-centric plan to drive growth and innovation,” said Board Chairman Chinh E. Chu.
E2open has not set a deadline or definitive timetable for completing the strategic review process.
“We remain highly confident in our ability to execute this growth plan and in e2open’s potential as a stand-alone company,” said CEO Andrew Appel.
Outlook: E2open also reaffirmed its FY2024 revenue guidance of $628 million to $633 million (consensus $630.71 million) and subscription revenue of $533 million – $536 million.
The company sees FY24 adjusted EBITDA of $215 million – $220 million and adjusted gross profit margin of 68% – 70%.
Price Action: ETWO shares are trading higher by 9.14% at $4.42 on the last check Thursday.
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