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Payments software firm Coupa tops earnings estimates but offers mixed guidance
Shares of Coupa Software Inc. rose slightly in after-hours trading today after the payments software firm topped analysts’ expectations, but it delivered a mixed bag in its guidance.
For the quarter ended Jan. 31, Coupa reported revenue rose 47% from a year ago, to $163.5 million. The rise was in part driven by subscription revenue, rose 37%, to $134.9 million, over the same period.
Coupa’s profit before costs such as stock compensation came in at $13 million, or 17 cents per share, slightly lower than $15 million or 21 cents per share a year ago. Still, analysts polled by FactSet had expected much worse results, predicting an 11-cent loss on revenue of $146 million.
For the full fiscal year, Coupa reported revenue of $541.6 million, up 39% from the previous year, with an adjusted profit of $55.7 million, or 77 cents per share.
“This year, we delivered record financial results across all key measures amid a difficult macroeconomic environment,” Rob Bernshteyn (pictured), chairman and chief executive officer at Coupa said in a statement. “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.”
The reference to the macroeconomic environment refers to the COVID-19 pandemic and the disruption it has caused. In the previous quarter, Bernshteyn noted that Coupa had been seeing improved trends “despite the persistent pandemic situation.” Given the company beat expectations in the quarter, those trends seemingly continued to improve.
For the quarter ahead, Coupa predicted revenue of $151.5 million to $152.5 million with an adjusted loss of $10 million to $12 million, or 18 cents to 21 cents per share. Analysts had been predicting a breakeven quarter on revenue of $148.8 million.
While smashing analysts’ predictions in its earnings with an unexpected profit, the mixed bag of estimates — higher-than-predicted revenue but a loss — made investors act with some caution.
After initially popping as high as $300 after the bell following a 3.5% rise in regular trading, Coupa’s shares settled up about 2%.
Photo: Coupa
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