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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2024

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-39272

 

 

E2open Parent Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

86-1874570

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

14135 Midway Road, Suite G300

Addison, TX

75001

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (866) 432-6736

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per share

 

ETWO

 

New York Stock Exchange

Warrants to purchase one share of Class A Common Stock

 at an exercise price of $11.50

 

ETWO-WT

 

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

 

 

 

 

Non-accelerated filer

Smaller reporting company

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No

As of October 7, 2024, E2open Parent Holdings, Inc. had 309,023,639 shares of Class A common stock outstanding.

 

 


 

Table of Contents

 

Page

Glossary

 

3

Forward-Looking Statements

4

PART I.

 

6

Item 1.

Financial Statements (Unaudited)

6

Condensed Consolidated Balance Sheets

6

Condensed Consolidated Statements of Operations

7

Condensed Consolidated Statements of Comprehensive Loss

8

 

Condensed Consolidated Statements of Stockholders' Equity

9

Condensed Consolidated Statements of Cash Flows

10

Notes to the Unaudited Condensed Consolidated Financial Statements

11

Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

29

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

44

Item 4.

Controls and Procedures

44

PART II.

Other Information

45

Item 1.

Legal Proceedings

45

Item 1A.

Risk Factors

45

Item 5.

Other Information

45

Item 6.

Exhibits

48

Signatures

49

 

 

2


 

Glossary of Terms

 

Abbreviation

 

Term

ASC

 

Accounting Standards Codification

 

 

 

BluJay

 

BluJay TopCo Limited, a private limited liability company registered in England and Wales which owns BluJay Solutions, a cloud-based logistics execution platform company

 

 

 

Class A Common Stock

 

Class A common stock, par value $0.0001 per share

 

 

 

Class V Common Stock

 

Class V common stock, par value $0.0001 per share

 

 

 

Common Units

 

common units representing limited liability company interests of E2open Holdings, LLC, which are non-voting, economic interests in E2open Holdings, LLC. Every economic common unit is tied to one voting share of Class V Common Stock of E2open Parent Holdings, Inc.

 

 

 

Forward Purchase Agreement

 

agreement dated as of April 28, 2020, by and between CCNB1 and Neuberger Berman Opportunistic Capital Solutions Master Fund LP

 

 

 

Forward Purchase Warrants

 

5,000,000 redeemable warrants purchased pursuant to the Forward Purchase Agreement

 

 

 

LIBOR

 

London Interbank Offered Rate

 

 

 

Logistyx

 

Logistyx Technologies, LLC, a private limited liability company headquartered in Chicago, Illinois, which connects top retailers, manufacturers and logistics providers to more than 550 in-network carriers with strategic parcel shipping and omni-channel fulfillment technology.

 

 

 

nm

 

not meaningful

 

 

 

NYSE

 

New York Stock Exchange

 

 

 

RCU

 

restricted common units representing Series 2 of E2open Holdings, LLC

 

 

 

SCM

 

omni-channel and supply chain management

 

 

 

SEC

 

U.S. Securities and Exchange Commission

 

 

 

SOFR

 

Secured Overnight Financing Rate

 

 

 

SONIA

 

Sterling Overnight Index Average

 

 

 

U.S. GAAP

 

generally accepted accounting principles in the United States

 

 

 

VWAP

 

daily per share volume-weighted average price of the Class A Common Stock on the NYSE as displayed on the Bloomberg page under the heading Bloomberg VWAP

 

3


 

Forward-Looking Statements

This Quarterly Report on Form 10-Q (Quarterly Report) contains "forward-looking statements" within the meaning of the federal securities laws, and are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and generally can be identified by the use of words such as "may," "can," "should," "will," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target" and similar expressions or future or conditional verbs. Without limiting the generality of the forgoing, forward-looking statements contained in this document include our expectations regarding our future growth, operational and financial performance and business prospects and opportunities.

These forward-looking statements are based on information available as of the date of this Quarterly Report and management's current expectations, forecasts and assumptions, and involve a number of judgments, known and unknown risks and uncertainties and other factors, many of which are outside E2open Parent Holdings, Inc.'s (we, our, us, Company, E2open) control and outside the control of our directors, officers and affiliates. Accordingly, we can give no assurance that any expectation or belief will result or will be achieved or accomplished. Investors therefore should not place undue reliance on forward-looking statements.

As a result of a number of known and unknown risks and uncertainties, our results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include:

the effect of the volatile, negative or uncertain macro-economic and political conditions, inflation, fluctuations in foreign currency exchange rates and the potential effects of these factors on our business, our slowing growth rate, results of operations and financial condition as well as our clients' businesses and levels of business activity;
changes in market interest rates particularly on our variable rate debt, including the recent significant increases in market interest rates experienced in fiscal 2023 and 2024;
the inability to realize the value of the goodwill and intangible assets, which could result in the incurrence of material charges related to the impairment of those assets;
the inability to develop and market new product innovations and monetize our network;
the slowing of our growth rate due to lower than anticipated new bookings and higher than expected churn;
risks associated with our past acquisitions (including the BluJay and Logistyx acquisitions), including the failure to successfully integrate operations, personnel, systems and products of the acquired companies, adverse tax consequences of acquisitions, greater than expected liabilities of the acquired companies, charges to earnings from acquisitions, the ability of the combined company to grow and manage profitability, maintain relationships with clients and suppliers and retain its management and key employees and the ability to recognize the anticipated benefits of the acquisition;
the inability to develop and maintain effective internal controls over financial reporting;
the inability to attract new clients or upsell/cross sell existing clients or the failure to renew existing client subscriptions on terms favorable to us;
risks associated with our extensive and expanding international operations, including the risks created by geopolitical instability;
the failure of the market for cloud-based SCM solutions to develop as quickly as we expect or failure to compete successfully in a fragmented and competitive SCM market;
the diversion of management's attention and consumption of resources as a result of the strategic alternatives process;
the inability to adequately protect key intellectual property rights or proprietary technology;
failure to maintain adequate operational and financial resources or raise additional capital or generate sufficient cash flows;
cyber-attacks and security vulnerabilities;
inability to retain key employees; and
certain other factors discussed elsewhere in this Quarterly Report.

More information on factors that could cause our actual results or events to differ from those expresses in forward-looking statements in included from time to time in our reports filed with the SEC including in Part I, Item 1A, Risk Factors in our Annual Report on Form 10-K for the fiscal year ended February 29, 2024, filed with the SEC on April 29, 2024 (2024 Form 10-K).

4


 

All forward-looking statements speak only as of the date of this Quarterly Report and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this Quarterly Report. We do not undertake any obligation to update, add or to otherwise correct any forward-looking statements contained herein to reflect events or circumstances after the date they were made, whether as a result of new information, future events, inaccuracies that become apparent after the date hereof or otherwise, except as required by law.

5


 

PART I—Financial Information

Item 1. Financial Statements.

E2open Parent Holdings, Inc.

Condensed Consolidated Balance Sheets

 

(In thousands, except share and per share amounts)

 

August 31, 2024

 

 

February 29, 2024

 

 

 

(Unaudited)

 

 

 

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

142,164

 

 

$

134,478

 

Restricted cash

 

 

16,593

 

 

 

14,560

 

Accounts receivable, net of allowance of $7,789 and $6,587 as of August 31, 2024
    and February 29, 2024, respectively

 

 

112,592

 

 

 

161,556

 

Prepaid expenses and other current assets

 

 

35,974

 

 

 

28,843

 

Total current assets

 

 

307,323

 

 

 

339,437

 

Goodwill

 

 

1,858,263

 

 

 

1,843,477

 

Intangible assets, net

 

 

753,166

 

 

 

841,031

 

Property and equipment, net

 

 

65,167

 

 

 

67,177

 

Operating lease right-of-use assets

 

 

17,658

 

 

 

21,299

 

Other noncurrent assets

 

 

29,903

 

 

 

29,234

 

Total assets

 

$

3,031,480

 

 

$

3,141,655

 

Liabilities, Redeemable Share-Based Awards and Stockholders' Equity

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

82,234

 

 

$

90,594

 

Channel client deposits payable

 

 

16,593

 

 

 

14,560

 

Deferred revenue

 

 

170,990

 

 

 

213,138

 

Current portion of notes payable

 

 

11,283

 

 

 

11,272

 

Current portion of operating lease obligations

 

 

6,746

 

 

 

7,378

 

Current portion of financing lease obligations

 

 

2,171

 

 

 

1,448

 

Income taxes payable

 

 

8,756

 

 

 

584

 

Total current liabilities

 

 

298,773

 

 

 

338,974

 

Long-term deferred revenue

 

 

1,513

 

 

 

2,077

 

Operating lease obligations

 

 

13,563

 

 

 

17,372

 

Financing lease obligations

 

 

4,209

 

 

 

3,626

 

Notes payable

 

 

1,034,389

 

 

 

1,037,623

 

Tax receivable agreement liability

 

 

62,760

 

 

 

67,927

 

Warrant liability

 

 

6,553

 

 

 

14,713

 

Contingent consideration

 

 

18,268

 

 

 

18,028

 

Deferred taxes

 

 

48,952

 

 

 

55,586

 

Other noncurrent liabilities

 

 

1,052

 

 

 

602

 

Total liabilities

 

 

1,490,032

 

 

 

1,556,528

 

Commitments and Contingencies (Note 22)

 

 

 

 

 

 

Redeemable share-based awards

 

 

1,710

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

Class A common stock; $0.0001 par value, 2,500,000,000 shares authorized;
    
308,781,515 and 306,237,585 issued and 308,604,861 and 306,060,931 outstanding as of
    August 31, 2024 and February 29, 2024, respectively

 

 

31

 

 

 

31

 

Class V common stock; $0.0001 par value; 42,747,890 shares authorized; 30,692,235
    and
31,225,604 shares issued and outstanding as of August 31, 2024 and
    February 29, 2024, respectively

 

 

 

 

 

 

Series B-1 common stock; $0.0001 par value; 9,000,000 shares authorized; 94 shares
    issued and outstanding as of August 31, 2024 and February 29, 2024

 

 

 

 

 

 

Series B-2 common stock; $0.0001 par value; 4,000,000 shares authorized; 3,372,184 shares
    issued and outstanding as of August 31, 2024 and February 29, 2024

 

 

 

 

 

 

Additional paid-in capital

 

 

3,425,542

 

 

 

3,407,694

 

Accumulated other comprehensive loss

 

 

(32,178

)

 

 

(46,835

)

Accumulated deficit

 

 

(1,942,428

)

 

 

(1,873,703

)

Treasury stock, at cost: 176,654 shares as of August 31, 2024 and February 29, 2024

 

 

(2,473

)

 

 

(2,473

)

Total E2open Parent Holdings, Inc. equity

 

 

1,448,494

 

 

 

1,484,714

 

Noncontrolling interest

 

 

91,244

 

 

 

100,413

 

Total stockholders' equity

 

 

1,539,738

 

 

 

1,585,127

 

Total liabilities, redeemable share-based awards and stockholders' equity

 

$

3,031,480

 

 

$

3,141,655

 

See notes to the unaudited condensed consolidated financial statements.

6


 

E2open Parent Holdings, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

 

 

 

Three Months Ended August 31,

 

 

Six Months Ended August 31,

 

(In thousands, except per share amounts)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Subscriptions

 

$

131,555

 

 

$

134,734

 

 

$

262,959

 

 

$

269,637

 

Professional services and other

 

 

20,637

 

 

 

23,754

 

 

 

40,396

 

 

 

48,971

 

Total revenue

 

 

152,192

 

 

 

158,488

 

 

 

303,355

 

 

 

318,608

 

Cost of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Subscriptions

 

 

36,317

 

 

 

36,780

 

 

 

73,416

 

 

 

73,324

 

Professional services and other

 

 

16,531

 

 

 

17,844

 

 

 

33,283

 

 

 

37,372

 

Amortization of acquired intangible assets

 

 

24,699

 

 

 

24,698

 

 

 

49,351

 

 

 

49,328

 

Total cost of revenue

 

 

77,547

 

 

 

79,322

 

 

 

156,050

 

 

 

160,024

 

Gross Profit

 

 

74,645

 

 

 

79,166

 

 

 

147,305

 

 

 

158,584

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

25,979

 

 

 

24,945

 

 

 

50,776

 

 

 

50,811

 

Sales and marketing

 

 

20,325

 

 

 

21,551

 

 

 

41,321

 

 

 

41,109

 

General and administrative

 

 

21,579

 

 

 

38,550

 

 

 

44,922

 

 

 

60,675

 

Acquisition-related expenses

 

 

1,720

 

 

 

18

 

 

 

2,003

 

 

 

407

 

Amortization of acquired intangible assets

 

 

20,143

 

 

 

19,993

 

 

 

40,229

 

 

 

40,121

 

Goodwill impairment

 

 

 

 

 

 

 

 

 

 

 

410,041

 

Intangible asset impairment

 

 

 

 

 

 

 

 

 

 

 

4,000

 

Total operating expenses

 

 

89,746

 

 

 

105,057

 

 

 

179,251

 

 

 

607,164

 

Loss from operations

 

 

(15,101

)

 

 

(25,891

)

 

 

(31,946

)

 

 

(448,580

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other expense, net

 

 

(25,150

)

 

 

(25,517

)

 

 

(50,523

)

 

 

(51,243

)

Gain (loss) from change in tax receivable agreement
    liability

 

 

2,908

 

 

 

7,927

 

 

 

(1,066

)

 

 

5,467

 

Gain from change in fair value of warrant liability

 

 

4,399

 

 

 

1,489

 

 

 

8,160

 

 

 

16,169

 

Gain (loss) from change in fair value of contingent
    consideration

 

 

2,040

 

 

 

1,260

 

 

 

(240

)

 

 

10,260

 

Total other expense

 

 

(15,803

)

 

 

(14,841

)

 

 

(43,669

)

 

 

(19,347

)

Loss before income tax provision

 

 

(30,904

)

 

 

(40,732

)

 

 

(75,615

)

 

 

(467,927

)

Income tax (expense) benefit

 

 

(1,949

)

 

 

2,103

 

 

 

(26

)

 

 

68,414

 

Net loss

 

 

(32,853

)

 

 

(38,629

)

 

 

(75,641

)

 

 

(399,513

)

Less: Net loss attributable to noncontrolling interest

 

 

(2,990

)

 

 

(3,757

)

 

 

(6,916

)

 

 

(39,246

)

Net loss attributable to E2open Parent Holdings, Inc.

 

$

(29,863

)

 

$

(34,872

)

 

$

(68,725

)

 

$

(360,267

)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

308,059

 

 

 

303,220

 

 

 

307,395

 

 

 

302,861

 

Diluted

 

 

308,059

 

 

 

303,220

 

 

 

307,395

 

 

 

302,861

 

Net loss attributable to E2open Parent Holdings, Inc.
    common shareholders per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.10

)

 

$

(0.12

)

 

$

(0.22

)

 

$

(1.19

)

Diluted

 

$

(0.10

)

 

$

(0.12

)

 

$

(0.22

)

 

$

(1.19

)

 

See notes to the unaudited condensed consolidated financial statements.

7


 

E2open Parent Holdings, Inc.

Condensed Consolidated Statements of Comprehensive Loss

(Unaudited)

 

 

 

Three Months Ended August 31,

 

 

Six Months Ended August 31,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net loss

 

$

(32,853

)

 

$

(38,629

)

 

$

(75,641

)

 

$

(399,513

)

Other comprehensive income (loss), net:

 

 

 

 

 

 

 

 

 

 

 

 

Net foreign currency translation gain, net of tax

 

 

14,458

 

 

 

12,397

 

 

 

16,523

 

 

 

18,932

 

Net deferred (losses) gains on foreign exchange
    forward contracts

 

 

(19

)

 

 

259

 

 

 

(46

)

 

 

733

 

Net deferred (losses) gains on interest rate collars

 

 

(2,276

)

 

 

1,578

 

 

 

(1,820

)

 

 

2,739

 

Total other comprehensive income, net

 

 

12,163

 

 

 

14,234

 

 

 

14,657

 

 

 

22,404

 

Comprehensive loss

 

 

(20,690

)

 

 

(24,395

)

 

 

(60,984

)

 

 

(377,109

)

Less: Comprehensive loss attributable to noncontrolling
    interest

 

 

(1,879

)

 

 

(2,359

)

 

 

(5,576

)

 

 

(37,045

)

Comprehensive loss attributable to E2open Parent
    Holdings, Inc.

 

$

(18,811

)

 

$

(22,036

)

 

$

(55,408

)

 

$

(340,064

)

 

See notes to the unaudited condensed consolidated financial statements.

 

8


 

E2open Parent Holdings, Inc.

Condensed Consolidated Statements of Stockholders' Equity

(Unaudited)

 

(In thousands)

 

Common
Stock

 

 

Additional
Paid-In
Capital

 

 

Accumulated
Other
Comprehensive
(Loss) Income

 

 

Accumulated
Deficit

 

 

Treasury Stock

 

 

Total
E2open
Equity

 

 

Noncontrolling
Interest

 

 

Total
Equity

 

Balance, February 28, 2023

 

$

30

 

 

$

3,378,633

 

 

$

(68,603

)

 

$

(803,679

)

 

$

(2,473

)

 

$

2,503,908

 

 

$

223,012

 

 

$

2,726,920

 

Share-based compensation

 

 

 

 

 

4,441

 

 

 

 

 

 

 

 

 

 

 

 

4,441

 

 

 

 

 

 

4,441

 

Vesting of restricted stock
    awards, net of shares
    withheld for taxes

 

 

 

 

 

(1,830

)

 

 

 

 

 

 

 

 

 

 

 

(1,830

)

 

 

 

 

 

(1,830

)

Other comprehensive income

 

 

 

 

 

 

 

 

8,170

 

 

 

 

 

 

 

 

 

8,170

 

 

 

 

 

 

8,170

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(325,395

)

 

 

 

 

 

(325,395

)

 

 

(35,489

)

 

 

(360,884

)

Balance, May 31, 2023

 

 

30

 

 

 

3,381,244

 

 

 

(60,433

)

 

 

(1,129,074

)

 

 

(2,473

)

 

 

2,189,294

 

 

 

187,523

 

 

 

2,376,817

 

Share-based compensation

 

 

 

 

 

7,426

 

 

 

 

 

 

 

 

 

 

 

 

7,426

 

 

 

 

 

 

7,426

 

Vesting of restricted stock
    awards, net of shares
    withheld for taxes

 

 

 

 

 

(100

)

 

 

 

 

 

 

 

 

 

 

 

(100

)

 

 

 

 

 

(100

)

Other comprehensive loss

 

 

 

 

 

 

 

 

14,234

 

 

 

 

 

 

 

 

 

14,234

 

 

 

 

 

 

14,234

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(34,872

)

 

 

 

 

 

(34,872

)

 

 

(3,757

)

 

 

(38,629

)

Balance, August 31, 2023

 

$

30

 

 

$

3,388,570

 

 

$

(46,199

)

 

$

(1,163,946

)

 

$

(2,473

)

 

$

2,175,982

 

 

$

183,766

 

 

$

2,359,748

 

 

 

(In thousands)

 

Common
Stock

 

 

Additional
Paid-In
Capital

 

 

Accumulated
Other
Comprehensive
(Loss) Income

 

 

Accumulated
Deficit

 

 

Treasury Stock

 

 

Total
E2open
Equity

 

 

Noncontrolling
Interest

 

 

Total
Equity

 

Balance, February 29, 2024

 

$

31

 

 

$

3,407,694

 

 

$

(46,835

)

 

$

(1,873,703

)

 

$

(2,473

)

 

$

1,484,714

 

 

$

100,413

 

 

$

1,585,127

 

Share-based compensation

 

 

 

 

 

11,768

 

 

 

 

 

 

 

 

 

 

 

 

11,768

 

 

 

 

 

 

11,768

 

Conversion of Common
    Units to common stock

 

 

 

 

 

1,311

 

 

 

 

 

 

 

 

 

 

 

 

1,311

 

 

 

(1,311

)

 

 

 

Vesting of restricted stock
    awards, net of shares
    withheld for taxes

 

 

 

 

 

(3,873

)

 

 

 

 

 

 

 

 

 

 

 

(3,873

)

 

 

 

 

 

(3,873

)

Impact of Common Unit
    conversions on Tax
    Receivable Agreement,
    net of tax

 

 

 

 

 

(493

)

 

 

 

 

 

 

 

 

 

 

 

(493

)

 

 

 

 

 

(493

)

Issuance of common stock upon
    exercise of stock options

 

 

 

 

 

150

 

 

 

 

 

 

 

 

 

 

 

 

150

 

 

 

 

 

 

150

 

Reclassification of stockholders'
    equity to redeemable
    share-based awards

 

 

 

 

 

(930

)

 

 

 

 

 

 

 

 

 

 

 

(930

)

 

 

 

 

 

(930

)

Other comprehensive income

 

 

 

 

 

 

 

 

2,494

 

 

 

 

 

 

 

 

 

2,494

 

 

 

 

 

 

2,494

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(38,862

)

 

 

 

 

 

(38,862

)

 

 

(3,926

)

 

 

(42,788

)

Balance, May 31, 2024

 

 

31

 

 

 

3,415,627

 

 

 

(44,341

)

 

 

(1,912,565

)

 

 

(2,473

)

 

 

1,456,279

 

 

 

95,176

 

 

 

1,551,455

 

Share-based compensation

 

 

 

 

 

11,940

 

 

 

 

 

 

 

 

 

 

 

 

11,940

 

 

 

 

 

 

11,940

 

Conversion of Common
    Units to common
    stock

 

 

 

 

 

942

 

 

 

 

 

 

 

 

 

 

 

 

942

 

 

 

(942

)

 

 

 

Vesting of restricted stock
    awards, net of shares
    withheld for taxes

 

 

 

 

 

(2,144

)

 

 

 

 

 

 

 

 

 

 

 

(2,144

)

 

 

 

 

 

(2,144

)

Impact of Common Unit
    conversions on Tax
    Receivable Agreement,
    net of tax

 

 

 

 

 

(43

)

 

 

 

 

 

 

 

 

 

 

 

(43

)

 

 

 

 

 

(43

)

Reclassification of stockholders'
    equity to redeemable
    share-based awards

 

 

 

 

 

(780

)

 

 

 

 

 

 

 

 

 

 

 

(780

)

 

 

 

 

 

(780

)

Other comprehensive income

 

 

 

 

 

 

 

 

12,163

 

 

 

 

 

 

 

 

 

12,163

 

 

 

 

 

 

12,163

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(29,863

)

 

 

 

 

 

(29,863

)

 

 

(2,990

)

 

 

(32,853

)

Balance, August 31, 2024

 

$

31

 

 

$

3,425,542

 

 

$

(32,178

)

 

$

(1,942,428

)

 

$

(2,473

)

 

$

1,448,494

 

 

$

91,244

 

 

$

1,539,738

 

See notes to the unaudited condensed consolidated financial statements.

9


 

E2open Parent Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Six Months Ended August 31,