logo
  

Coupa Software Q3 Results Beat Street View; But Shares Down 9%

Shares of Coupa Software Incorporated (COUP) slipped over 9% in extended trading session on Monday after the software company reported its third-quarter results.

Third-quarter loss widened to $91.2 million or $1.23 per share from $60.8 million or $0.88 per share last year.

Adjusted profit for the quarter rose to $23.5 million or $0.31 per share from $13.0 million or $0.18 per share last year. Analysts polled by Thomson Reuters expected a earnings of $0.02 per share. Analysts' estimates typically exclude one-time items.

Revenues for the third quarter surged 40% to $185.8 million from $133.0 million last year. Subscription revenues were $164.7 million, an increase of 40% compared to the same period last year. Analysts had a consensus revenue estimate of $178.34 million for the quarter.

Commenting on the results, CEO Rob Bernshteyn, said, "We delivered another strong quarter with record revenue and profitability. As demonstrated by our third quarter results, we are seeing strong adoption of the Coupa platform as our customers continue to prioritize Business Spend Management as a fundamental aspect of their go-forward strategy. With the fourth quarter well under way, we continue to leverage our Value-as-a-Service approach to add strategic customers across many industries and of all sizes."

Looking forward to the fourth quarter, the company expects revenues of $185.0 million to $186.0 million and adjusted earnings of $0.03 to $0.05 per share. Analysts currently estimate a loss of $0.06 per share on revenues of $184.23 million.

For the full year 2022, the company now expects revenues of $717.0 million to $718.0 million and adjusted earnings of $0.66 to $0.69 per share. Analysts currently estimate an earnings of $0.32 per share on revenues of $708.67 million.

Previously, the company expected revenues of $706.0 million to $708.0 million and adjusted earnings of $0.27 to $0.29 per share.

COUP closed Monday's trading at $174.10, up $3.36 or 1.97%, on the Nasdaq. The stock, however, slipped $16.14 or 9.27% in the after-hours trading.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Philips Electronics NV were losing more than 4 percent in the morning trading in Amsterdam as well as in pre- market activity on the NYSE, after the Dutch consumer electronics giant reported lower profit and sales in its fourth quarter. Comparable sales declined, while comparable order intake increased. Further, the company maintained its dividend, and said it expects to start the year Long Island City, New York-based BCS International Corp. is recalling certain "Dr. Snack Goji Berry" food treats citing the possible presence of undeclared sulfites, the U.S. Food and Drug Administration said. The recall involves 4.5 ounce, 6 ounce and 9 ounce containers and 5 pound packages of "Dr. Snack Goji Berry" food treats. Oilfield services company Schlumberger Ltd. reported Friday a profit for the fourth quarter that surged 61 percent from last year, reflecting 13 percent higher revenues amid growth across all segments and regions. Both adjusted earnings per share and quarterly revenues topped analysts' estimates.
RELATED NEWS
Follow RTT