Categories Earnings, LATEST, Technology

Coupa Software’s top and bottom line results for Q1 exceeds estimates

Coupa Software (Nasdaq: COUP) reported an adjusted loss of 3 cents per share on revenue of $81 million for the first quarter of fiscal 2020. Analysts had expected Coupa to post a loss of 4 cents per share on revenue of $73.8 million. COUP stock, which closed down 6.16% at $102.48, was up about 5% in the extended hours of trading.

The revenue increase of 44% compared to the year-ago period was driven by subscription revenue growth of 46%. GAAP net loss was $20.5 million or $0.34 per share compared to a loss of $15.5 million or $0.28 per share in the same period last year. For the first quarter of fiscal 2020, revenue and adjusted EPS came in line with the company’s targets.

For the second quarter of 2020, the San Mateo, California-based firm expects the non-GAAP loss to be between $0.10 and $0.12 per share and revenue is expected to be between $84.5 million and $85.5 million. Subscription revenues are expected to be between $77 million and $78 million. Professional services and other revenues are expected to be approximately $7.5 million.

Coupa lifted its outlook for the fiscal year 2020. The company now projects adjusted earnings to be in the range of $0.07 to $0.10 per share versus the prior estimate of $0.04 to $0.10. The prior revenue gudiance range of $325 million to $327 million is now upped to a range of $342 million and $344 million.

“In the first quarter, we delivered strong financial results, including record quarterly total revenues, subscription revenues, and calculated billings, as we continued to execute on our business plan and further solidify our position as the clear leader in Business Spend Management,” said CEO Rob Bernshtey.

Also Read:  Delta Air Lines stock might see further slide after posting fourth-quarter results

Coupa Software stock, which reached a new 52-week high ($116.13) on May 22, had returned 61% since the beginning of 2019 and 87% in the trailing 12 months.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Wayfair (W) stock looks less attractive despite low price, thanks to market selloff

Shareholders of online furniture retailer Wayfair Inc. (NYSE: W) have been speculating about their returns for long, with the stock not making any meaningful gains in the past several months.

Here’s how Chewy (CHWY) held its ground in a COVID-19 world

Shares of Chewy Inc. (NYSE: CHWY) were down 6% in afternoon hours on Friday, a day after the company reported a narrower-than-expected loss and sales that matched estimates for its

What to look for when Levi Strauss (LEVI) reports Q1 earnings on April 7

Levi Strauss & Co. (NYSE: LEVI) is slated to report its first-quarter 2020 earnings results on Tuesday, April 7, after the market closes. The bottom line will be impacted by

Top