Coupa Software Inc. (NASDAQ: COUP)
Shares of Coup Software soared 7% on Wednesday after the company blew out Wall Street expectations with solid second-quarter results. The firm reported adjusted per-share earnings that beat estimates by $0.14, with revenue topping expectations by $5.07 million.
Both earnings and revenue during the quarter increased from the same period last year. The Nasdaq listed company also raised its full-year earnings and revenue outlook. Coupa software has also acquired the technology assets of DCR Workforce.
The acquisition will help Coupa achieve its vision of providing its clients with a software that can help them source, procure, and manage their spending on temporary labor.
COUP Earnings & Outlook
Coupa software posted a net loss of $13.9 million or $0.24 per share during the second quarter. Excluding special items, the company earned $0.05 per share beating the consensus estimate by $0.14. The company reported an adjusted loss of $0.10 per share in the year-ago period.
Revenue increased to $61.7 million from $44.6 million during the same period last year. Analysts had projected sales of $58.5 million. Looking ahead, Coupa expects to post EPS in the range of $0.01 to $0.04 on sales of $62 million to $63 million for its third quarter. The current analyst earnings estimate for the third quarter is $0.05 per share on revenue of $58.55 million.
Coupa software sees full year earnings in the range of $0.06 to $0.11 compared to the consensus estimate of $0.17. The firm projects full-year sales in the range of $243 million to $245 million compared to analyst estimate of $235.72 million.
Coupa Software CEO Comments
Chief Executive Rob Bernshteyn said, “Our commitment to developing a fast growing and vibrant customer community and our strong alignment around our three core values – ensuring customer success, focusing on results, and striving for excellence – continue to support our ability to deliver on our business and financial objectives.”
“Our Q2 results demonstrate our continued strong execution and the rapid and systematic implementation of our value-as-a-service solutions; further expanding our leadership position in business spend management globally,” Mr. Bernshteyn added.
Coupa Software Inc., Company Profile
Coupa Software Incorporated provides cloud-based spend management platform. The company’s platform connects organization with suppliers globally; and provides visibility into and control over how companies spend money, as well as enables businesses to achieve savings that drive profitability.
Its platform consists of procurement, invoicing, and expense management modules that form its transactional engine and capture a company’s spend; and offers supporting modules, including sourcing, spend analysis, contract management, supplier management, and inventory management.
Coupa Software markets its platform to a range of enterprises in various industries, such as healthcare and pharmaceuticals, retail, financial services, manufacturing, technology, and others primarily through a direct sales force worldwide.
The company was founded by Dave Stephens and Noah Eisner in 2006 and is headquartered in San Mateo, California. Coupa software competes with Perspecta Inc., Paylocity Holding Corp and Manhattan Associates Incorporated. –YahooFinance
