Anaplan, which makes cloud-based business planning software, has filed for IPO, one week after its CFO joined the company from Tesla, where he was for one month
This is an initial public offering of shares … Alex Barinka / Bloomberg : Anaplan Files for U.S. IPO With Ex-Tesla Exec as Finance Chief Becky Peterson / Business Insider : $1.4 billion Anaplan files to go public, just a week after poaching its new CFO from Tesla Tweets: Alex Barinka / @alexbarinka : Add to the list of things I haven't seen before today: Anaplan filed for an IPO today. It's CFO started *this month* after leaving Seagate on Aug. 3. pic.twitter.com/vMcs0jEwCu @alex : if Anaplan's “Dollar-based net expansion rate” is so good why does it spend so much $ to grow so slowly @alex : Anaplan lost $15.6M (net) in H1'17, and $45.8M in H1'18. oof. Operating losses similar. on a rule of 40 basis (using net income as profit metric), it's like a -3 (40.6% growth, -43% profit) - that sucks @alex : company grew subscription rev by 48.2% H1:H1, which is good. Flat services rev tho brought aggregate rev growth to just 40.6% Ari Levy / @levynews : Dave Morton: *joins Tesla as accounting chief last month *leaves Tesla last week to become CFO of Anaplan *new company files for IPO today https://cnb.cx/2NgsEyk Jordan 'Jaws' Novet / @jordannovet : Anaplan files to go public just days CFO Dave Morton joined from Tesla. remember that? one of the risk factors acknowledges some executives have only been there for ‘a limited time’ https://www.cnbc.com/... pic.twitter.com/DXWmXAt7PD @alex : gross margin of subscription income fell from 89.4% to 82.5% H1'17 to H1'18. gross margin improved for services (now profitable) so kinda a mix there Alex Barinka / @alexbarinka : OMG. The CFO of Anaplan is the Chief Accounting Officer that just left Tesla. https://bloom.bg/2NLTEFe https://twitter.com/... @alex : but as with many companies, things get shitty when it comes to spend/losses. Anaplan grew S&M spend from $42.3M in H1'17 to $77.9M in H1'18 (+84%), helping lead to a much higher operating/net loss