ANAPLAN, INC (NYSE:PLAN) Q3 2021 Earnings Conference Call - Final Transcript

Nov 24, 2020 • 08:30 am ET


ANAPLAN, INC (NYSE:PLAN) Q3 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Anaplan Third Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions].

I would now like to turn the call over to your speaker today, Edelita Tichepco, Vice President, Investor Relations. Please go ahead.

Edelita Tichepco

Good morning. Thank you for joining us on today's conference call to discuss Anaplan's third quarter fiscal year 2021 financial results. Joining me on the call are Frank Calderoni, our Chief Executive Officer; and Dave Morton, our Chief Financial Officer.

On this call, we will be making forward-looking statements, including financial guidance and expectations for fourth quarter and fiscal year 2021, anticipated future operating and financial performance, strategies, customer demand, product and technologies. These statements reflect our best judgment based on factors currently known to us and actual events or results may differ materially. Please refer to documents we file with the SEC, including the Form 8-K filed with today's press release. Those documents contain risks and other factors that may cause our actual results to differ from those contained in our forward-looking statements. These forward-looking statements are being made as of today, and we disclaim any obligation to update or revise these statements. If this call is reviewed after today, the information presented during this call may not be current or accurate. We will also discuss non-GAAP financial measures, which are not prepared in accordance with Generally Accepted Accounting Principles. Unless otherwise stated during the call all references to our gross margins, expenses and operating results are on a non-GAAP basis. For historical periods, a reconciliation of GAAP and non-GAAP results is provided in the press release and in supplemental financial information on our website.

And with that, I will now turn the call over to Frank Calderoni.

Frank Calderoni

Good morning and thank you for joining us today. This quarter, we continue to execute, as companies prioritize investments toward initiatives that drive incremental business value. While the economic backdrop remains challenging with the ongoing impact of the pandemic, we are at the forefront of helping our customers transform their business. As strategic partners to our customers, there isn't a more urgent time to have connected planning across an enterprise. We are working closely with companies, to understand that effective planning is critical to managing their business in a dynamic environment. We have the unique solution with our connected planning platform, which links strategy to execution and operations to financial metrics.

Our third quarter's performance is a testament to our focused execution and the exceptional value we drive for our customers. We now have 417 customers with ARR over $250,000. We are also meeting our customers' expectations, as a key strategic partner, demonstrated by solid customer retention rates. Approximately 60% of bookings this quarter came from existing customers, which is in line with our historical average. Growth in new enterprise logos were also healthy this quarter, reflecting the focus on building a robust pipeline over the last several quarters.

Our remaining performance obligations or RPO balance exiting the