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Coupa Software (COUP) Reports Q4 EPS of $0.28, Revenues Beat; Offers 1Q &FY20 EPS/Revenue Guidance

March 11, 2019 4:08 PM EDT

Coupa Software (NASDAQ: COUP) reported Q4 EPS of $0.28, versus $1.16 reported last year. Revenue for the quarter came in at $74.91 million versus the consensus estimate of $67.73 million.

  • Total revenues were $74.9 million, an increase of 39% compared to the same period last year. Subscription revenues were $67.5 million, an increase of 45% compared to the same period last year.
  • GAAP operating loss was $14.7 million, compared to a loss of $9.1 million for the same period last year. Non-GAAP operating income was $2.4 million, compared to income of $0.9 million for the same period last year.
  • GAAP net loss was $16.6 million, compared to a loss of $8.7 million for the same period last year. GAAP net loss per basic and diluted share was $0.28, compared to a loss of $0.16 for the same period last year. Non-GAAP net income was $3.4 million, compared to $1.4 million for the same period last year. Non-GAAP net income per diluted share was $0.05, compared to $0.02 for the same period last year.
  • Operating cash flows and free cash flows for the quarter ended January 31, 2019, were $9.5 million and $6.8 million, respectively.

"The fourth quarter of fiscal 2019 was the strongest quarter yet in our company\'s history, as marked by a number of significant milestones," said Rob Bernshteyn, chief executive officer at Coupa. "We achieved 42% year-over-year subscription revenue growth and 11.5% annual free cash flow margins. We were also profitable for the year on a non-GAAP basis, delivering non-GAAP earnings per share of 18 cents, with a net loss per share of 96 cents on a GAAP basis. In addition, we surpassed $1 trillion in cumulative spend under management demonstrating the breadth and depth of our growing customer base. Heading into fiscal 2020, our powerful combination of innovation, execution, and core values that are centered around ensuring customer success, will enable us to extend our leadership position in Business Spend Management (BSM)."

GUIDANCE:

Coupa Software sees Q1 2020 EPS of ($0.06)-($0.03), versus the consensus of $0.01. Coupa Software sees Q1 2020 revenue of $73.5-74 million, versus the consensus of $70.27 million.

Coupa Software sees FY2020 EPS of $0.04-$0.10, versus the consensus of $0.21. Coupa Software sees FY2020 revenue of $325-327 million, versus the consensus of $315 million.

Business Outlook:

The following forward-looking statements reflect Coupa\'s expectations as of March 11, 2019.

First quarter of fiscal 2020:

  • Total revenues are expected to be between $73.5 and $74.0 million.
  • Subscription revenues are expected to be between $67.5 and $68.0 million. This includes a negative impact of approximately $2.0 million due to three fewer calendar days for revenue recognition in Q1 compared to Q4.
  • Professional services and other revenues are expected to be approximately $6.0 million.
  • Non-GAAP loss from operations is expected to be between $2.0 and $3.5 million.
  • Non-GAAP net loss per basic and diluted share is expected to be between $0.03 loss and $0.06 loss per share.
  • Basic weighted average share count is expected to be approximately 61.0 million shares.
  • Free cash flows are expected to be approximately $15.0 million.

Full year fiscal 2020:

  • Total revenues are expected to be between $325.0 and $327.0 million.
  • Non-GAAP income from operations is expected to be between $3.0 and $7.0 million.
  • Non-GAAP net income per diluted share is expected to be between $0.04 and $0.10 per share.
  • Diluted weighted average share count is expected to be approximately 70.0 million shares.

For earnings history and earnings-related data on Coupa Software (COUP) click here.



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