Shares in Anaplan Inc. rose in late trading today after the business planning software company reported better-than-expected earnings.

For the quarter ended Jan. 31, Anaplan reported a loss before certain costs of $10.6 million, or 11 cents per share, up from a loss of $9.4 million, or seven cents per share, in the same quarter last year. Revenue rose almost 33% from a year ago, to $162.7 million.

Analysts had expected a loss of 12 cents per share on revenue of $154.6 million.

Highlights in the quarter included Anaplan signing up new customers, including Recognise Bank Ltd., the University of Surrey, Glide Student & Residential Ltd. and Vitality. Anaplan said the new customers picked them to support financial transformation and agile operations.

The company also partnered with PR Metrodata Electronics Tbs to deliver cloud-based enterprise performance management to customers in Indonesia. As of the end of the quarter, Anaplan had over 1,900 customers.

For the full fiscal year 2022, Anaplan reported an adjusted loss of $40.8 million, or $1.39 per share, on revenue of $592.2 million, up 32% year-over-year.

“As we start the new fiscal year, we are well-positioned with our growth strategy and the next level of innovation to take advantage of the opportunities ahead,” Frank Calderoni, chief executive officer of Anaplan, said in a statement. “We offer immense value to our customers and are committed to delivering the most innovative planning solution.”

Looking forward, Anaplan predicts revenue of between $164.5 million and $165.5 million in its fiscal 2023 first quarter. The company did not provide a traditional adjusted earnings figure, instead saying that its adjusted operating margin is expected to be between negative 6.5% and 7.5%. For the full fiscal year 2023, Anaplan predicts revenue of about $745 million, up from a previous estimate of $730 million, with an adjusted operating margin of 3.5% to 4.5%.

Investors liked the numbers. Anaplan shares rose more than 6% after the bell.

Anaplan’s quarterly results come a week after hedge fund Sachem Head Capital Management took a significant stake in the company, believed to be about 9%. According to Reuters, the hedge fund may decide to press the company to make changes.

Image: Anaplan