Stock Alert: Anaplan Falls More Almost 25 Percent

(RTTNews) - Shares of Anaplan Inc. (PLAN), a cloud-based connected planning platform, are declining almost 25 percent in the morning trade on Thursday to $43.62.

The company reported a net loss for the fourth quarter that slightly widened from a year ago. Loss per share was almost flat with last year's. It also announced that its Chief Growth Officer will step down.

The stock has traded in a range of $33.59 to $63.71 in the past 52 weeks.

The company's fourth-quarter net loss was $36.68 million or $0.27 per share, compared to net loss of $32.56 million or $0.27 per share in the year-ago period. Adjusted loss per share was $0.07, compared to loss of $0.13 in the prior-year quarter.

Total revenue for the quarter grew 42 percent to $98.2 million from $59.70 million last year. Subscription revenue surged 50 percent to $89.5 million.

For the first quarter, the company forecast revenue between $102 million and $103 million, and adjusted operating margin between negative 17.5 percent and 18.5 percent. For fiscal 2020, the company now projects revenue between $463 million and $467 million, up from the prior range of $455 million to $460 million. Adjusted operating margin is expected to be between negative 12.5 percent and 13.5 percent.

Anaplan said its Chief Growth Officer Mark Anderson plans to step down. The company has no plans to backfill this position.