Coupa Software reported revenue of $74.9 million in the fourth quarter, up 39% from last year, helped by an expanded customer base as well as the numerous partnerships formed with other major companies, including Amazon (AMZN). The top line surpassed analysts’ estimate of $68.07 million.
Subscription revenues increased 45% to $67.5 million in Q4.
The San Mateo, California-based firm surprised Wall Street by posting a profit of 5 cents per share, compared to 2 cents per share last year. Analysts had, on an average, estimated a breakeven bottom line in Q4.
CEO Rob Bernshteyn said, “We surpassed $1 trillion in cumulative spend under management demonstrating the breadth and depth of our growing customer base. Heading into fiscal 2020, our powerful combination of innovation, execution, and core values will enable us to extend our leadership position in Business Spend Management (BSM).”
COUP shares fell 1% during extended trading on Monday. The stock has gained 93% in the trailing 52 weeks.
Outlook
Coupa provided guidance for the current quarter as well as the fiscal year. For the first quarter of fiscal 2020, the company expects total revenues between $73.5 and $74.0 million. Subscription revenues are projected to be between $67.5 and $68.0 million. The company expects an adjusted loss between $0.03 and $0.06 per share during this period.
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For the full year 2020, Coupa anticipates adjusted earnings of $0.04 to $0.10 per share, on revenues, expected in the range of $325 to $327 million
Last week, peer firm Okta Inc (OKTA) said it narrowed its Q4 loss on a 50% improvement in revenue. However, the stock plunged 9% during the extended hours of trading, hurt by weak guidance.
Adobe (ADBE) is scheduled to report quarterly results on Thursday.