logo
  

Coupa Software Stock Tanks 30% On Weak Outlook

Shares of Coupa Software Inc. (COUP) tanked nearly 30% in extended hours on Monday hurt largely by its weak outlook for the first quarter and full year 2023.

Fourth-quarter loss widened to $96.0 million or $1.29 per share from $61.4 million or $0.85 per share last year.

Adjusted net income was $14.4 million or $0.19 per share, up from $13.0 million or $0.17 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues were $193.3 million, an increase of 18% compared to $163.5 million reported last year. Analysts had a consensus revenue estimate of $185.68 million for the quarter.

"We finished the fiscal year strong, delivering record revenue and free cash flow results in the fourth quarter," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "During Fiscal '22, we grew new business in excess of 60%, which we define as new recurring revenue from new customer logos and add-on transactions."

Looking forward to the first quarter, the company expects revenues of $189.0 million to $191.0 million and adjusted earnings of $0.03 to $0.06 per share. Analysts currently estimate earnings of $0.05 per share on revenues of $196.14 million for the quarter.

For the full year 2023, the company expects revenues of $836.0 million to $840.0 million and adjusted earnings of $0.15 to $0.19 per share. Analysts currently estimate earnings of $0.74 per share and revenues of $877.51 million.

COUP closed Monday's trading at $89.82, down $9.54 or 9.60%, on the Nasdaq. The stock further slipped $26.16 or 29.12% in the after-hours trading.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
RELATED NEWS
Follow RTT