Shares of cloud-based, connected-planning platform Anaplan (PLAN) - Get Report were rising nearly 20% Tuesday after the company reported first-quarter results that came in ahead of analysts' expectations.
The San Francisco-based company reported a net loss of $37.2 million, or a loss of 16 cents a share on and adjusted basis, on revenue of $75.8 million. Analysts were expecting the company to report a loss of 21 cents a share on revenue of $70.5 million.
"We are very pleased to start our fiscal year with strong first-quarter results. This is an indication of our continued success with our Connected Planning solution," said Frank Calderoni, chief executive officer at Anaplan. "Our customers are consistently impressed with the value they receive from the results of deploying Anaplan across their enterprise. We are excited many of them will be showcasing these results at our global Connected Planning Xperience in San Francisco in June."
The company expects to generate revenue between $77.5 million and $78.5 million for the current quarter. Analysts are expecting the company to report revenue of $74.4 million.