What happened 

Shares of e2open Parent Holdings (ETWO 0.72%), a supply chain software platform company, were plummeting today after the company reported its first-quarter financial results. While the company beat analysts' consensus estimate for earnings, investors were disappointed that management cut its revenue outlook for the full year. 

The tech stock was down by 13% as of 3:31 p.m. ET Tuesday. 

So what 

E2open reported non-GAAP earnings per share of $0.07, which beat Wall Street's average estimate of $0.05. The company's first-quarter sales of $160.4 million -- up 142% year over year -- matched analysts' consensus estimate. 

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Image source: Getty Images.

"We are very pleased with our first quarter performance where we continued to support the world's largest and most complex supply chains adapt to growing inflationary pressures, and increasing demand and supply challenges," e2open CEO Michael Farlekas said in a press release. 

Management highlighted the company's subscription revenue in the quarter, which increased by 156% from the year-ago quarter to $129.5 million. The company's gross margin also improved to 50.9%, up from 42.5% in the year-ago quarter. 

But despite these strong results, investors focused their attention on the fact that management cut its revenue forecast for the full year from $685 million down to $676 million, both at the midpoint of guidance.  

Investors also didn't like that the new forecast falls below analysts' average estimate of $682.8 million. 

Now what 

Despite cutting its revenue guidance, e2open's management reaffirmed its EBITDA outlook for the fiscal year, which is in the range of $217 million to $223 million.

But with investors already skeptical of technology stocks right now amid high inflation and economic uncertainty, it's not surprising to see e2open's stock fall following management's downward revision to the company's revenue outlook.