Subscription Revenue Performance
Subscription revenue was $131.6 million, above the midpoint of the $129 million to $132 million guidance range. This represents a decline of 2.3% year-over-year, showing improvement over the Q1 year-over-year decline.
Increased Bookings
Quarterly subscription bookings increased year-over-year and sequentially, indicating positive market demand for supply chain software.
Client Retention Improvement
Significant reduction in churn from Q1 and improved retention rates, with an expectation of further improvement by year-end.
Successful New Deals
New high-value deals were secured with major companies, including a leading global manufacturer and a global membership-based retailer, showcasing E2open's competitive strength in logistics and global trade management solutions.
Positive Cash Balance
End of Q2 cash balance was $142.2 million, an increase of $30.4 million year-over-year, demonstrating strong cash generation capability.