Blue Yonder Holding, Inc. (Blue Yonder), announced unaudited results for the fiscal second quarter ending June 30, 2022. SaaS revenue grew to $125 million in Q2 2022, up 38% compared to Q2 2021 and comprised 40% of total revenue. SaaS annualized recurring revenue (ARR) for Q2 2022 was $514 million, up 29% compared to Q2 2021. Total subscription revenue1 represented 68% of total revenue.
“With strong results for the second quarter this year, Blue Yonder is well-positioned for continued success. I am so excited to be leading one of the largest supply chain software companies at such a critical time, when supply chain and e-commerce are at the center of every board room conversation. We will continue to elevate our leading platform and solution offerings to ensure our customers are successful in delivering on their consumer promises during this time of great disruption. Our goal is to fulfill their potential by leveraging a cloud-based, product-first strategy that enables customers to rapidly accelerate their digital transformations,” said Duncan Angove, CEO, Blue Yonder.
Further demonstrating the company’s industry leadership, Blue Yonder was recently positioned by Gartner® as a Leader in its 2022 Magic Quadrant™ for Warehouse Management Systems (WMS)2. Blue Yonder is the only company recognized a Leader in three Gartner Magic Quadrant reports3 covering Supply Chain Planning, Transportation Management Systems and Warehouse Management Systems.
Second Quarter 2022 Highlights (unaudited)
Total revenue for Q2 2022 was $309 million, up $37 million or 14% year-over-year. Subscription revenue was $211 million for Q2 2022, up $24 million or 13% compared to Q2 2021.
SaaS net revenue retention rate (NRR)4, a key metric which demonstrates that customers are expanding their business with Blue Yonder, was 108% for Q2 2022.
Q2 2022 Customer Momentum
Blue Yonder added 59 new customer logos in Q2 2022 and closed 19 new deals over $500,000. Some of the customers who selected or extended their footprint with Blue Yonder during the quarter include:
- Americas: ABC Fine Wine, Armada, Federated Co-operatives Limited, Ingram Micro, InterChange Group, Panasonic North America
- APAC/EMEA: Avary Holding, Clipper Logistics, Mahindra & Mahindra, Panasonic Operational Excellence Co., Ltd., Sainsbury’s, Seiyu Co., Ltd., Universal Robina Corporation, Yokohama India
Sources:
1 Subscription revenue includes fees from maintenance services, cloud services and term software licenses.
2 Gartner, Magic Quadrant for Warehouse Management Systems, Simon Tunstall, Dwight Klappich, Rishabh Narang, 1 June 2022.
3 Gartner, “Magic Quadrant for Warehouse Management Systems,” Simon Tunstall, Dwight Klappich, Rishabh Narang, 1 June 2022; “Magic Quadrant for Transportation Management Systems,” Brock Johns, Oscar Sanchez Duran, Carly West, 29 March 2022; “Magic Quadrant for Supply Chain Planning Solutions,” Amber Salley, Tim Payne, Pia Orup Lund, Janet Suleski, 16 May 2022.
4 Net revenue retention rate includes impact of customer attrition and expansion year over year and excludes impact from new customers.
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