Categories AlphaGraphs, Earnings, LATEST, Technology

Coupa Software (COUP) Q3 earnings, revenue beat; provides FY20 outlook

Coupa Software Inc.,  (NASDAQ: COUP) Monday said its third-quarter revenues increased in double digits, aided by solid billing growth. As a result, earnings more than doubled and topped the Street view. The company also provided guidance for the fourth quarter and fiscal 2019.

Also see: Workday Q3 preview: Here’s all that investors need to know

During the three-month period, there was a 51% increase in revenues to $101.8 million, which also surpassed the estimates. At $105.4 million, calculated billings were up 54% year-over-year. Subscription revenue grew 49% year-over-year to $90.2 million, while professional services and other revenue nearly doubled to $11.6 million.

Revenues Surge

On an adjusted basis, excluding special items, Coupa reported earnings of $0.20 per share, up 150% from last year and above Wall Street’s projection. On an unadjusted basis, it was a net loss of $26.3 million or $0.42 per share, compared to a loss of $9.6 million or $0.17 per share last year.

Rob Bernshteyn, Chairman and Chief Executive Officer said, “We delivered strong business and financial results for the third quarter, as we continue executing on our vision and extending our leadership position in Business Spend Management (BSM). We reported $102 million of total revenues, up 51% year-over-year, and were profitable on a non-GAAP basis for the sixth consecutive quarter.”

What to Look for

For the fourth quarter of 2020, the management expects revenues to be between $101.5 million and $102.5 million and adjusted earnings in the range of $0.03 per share to $0.06 per share. Subscription revenue is expected to be $9.5 – $9.25million and professional services revenue is estimated to be about $10 million.

Also Read:  Intel (INTC) acquires UK-based programmable chip maker Omnitek

For the whole of 2020, the company forecasts revenues in the range of $379.8 million to $380.8 million and adjusted earnings between $0.34 per share and $0.37 per share.

Related: Coupa Q2 2019 Earnings Conference Call Transcript

Last month, Coupa shares climbed to an all-time high after gaining steadily for more than a year. Though the stock lost momentum since then, it regained strength in recent weeks and is hovering near the peak once again.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

BlackBerry (BB) likely to report weak Q4 earnings on March 31

BlackBerry Limited (NYSE: BB) is slated to report its fourth-quarter 2020 earnings results on Tuesday, March 31, after the market closes. The top line will be benefited by BlackBerry Cylance

Companies that are working on the coronavirus vaccine

The coronavirus pandemic continues to plague the world with over 500,000 cases reported globally and over 82,000 cases in the US alone. As the world grapples with the outbreak, several

Altimmune (ALT) reports FY19 results; announces vaccine candidate for COVID-19

Altimmune Inc. (NASDAQ: ALT) reported its earnings results for fiscal-year 2019. Revenues totaled $5.8 million compared to $10.3 million last year. The drop in revenues was caused by lower billings