Coupa shares jump as fiscal Q4 revenue tops expectations, delivers surprise profit
Corporate spend management software maker Coupa this afternoon reported fiscal Q4 revenue that topped analysts' expectations, and deliver a surprise profit where analysts had been expecting a net loss, and an outlook for revenue this quarter, and the year, that was higher as well.
The report sent Coupa shares sharply higher in late trading.
CEO and founder Rob Bernshteyn remarked that the company "delivered record financial results across all key measures amid a difficult macroeconomic environment,"
Added Bernshteyn, "As part of our strategy to develop and own the Business Spend Management market, we continued to invest meaningfully into all areas of our business.
"We also made strategic acquisitions in supply chain design and planning, treasury, and the enhancement of our supplier diversity and travel and expense offerings.
"We believe that we are now more optimally positioned than ever to deliver broad based global customer success."
Revenue in the three months ended in January rose 47%, year over year, to $163.5 million, yielding a net profit of 17 cents a share.
Analysts had been modeling $146 million and a net loss of 11 cents per share.
Coupa said its "Calculated Billings" for the quarter rose 49% to $270 Million.
For the current quarter, the company sees revenue of $151.5 million to $152.5 million, and a net loss of 18 cents to 21 cents a share. That compares to consensus for $149 million and breakeven.
For the full year, the company sees revenue in a range of $675 million to $678 million, and a net loss of 23 cents to 27 cents. That compares to consensus of $665 million and a 36-cent profit per share.