Coupa Software (COUP) Tops Q1 EPS by 13c, Revenues Beat Offers FY21 EPS/Revenue Guidance Above Consensus, Provides 2Q EPS/Revenue Views

Coupa Software (NASDAQ: COUP) reported Q1 EPS of $0.20, $0.13 better than the analyst estimate of $0.07. Revenue for the quarter came in at $119.2 million versus the consensus estimate of $111.51 million.

First Quarter Results:

• Total revenues were $119.2 million, an increase of 47% compared to the same period last year. Subscription revenues were $105.7 million, an increase of 45% compared to the same period last year.
• GAAP operating loss was $5.6 million, compared to a GAAP operating loss of $17.8 million for the same period last year. Non-GAAP operating income was $14.9 million, compared to a Non-GAAP operating income of $2.2 million for the same period last year.
• GAAP net loss was $14.8 million, compared to a GAAP net loss of $20.5 million for the same period last year. GAAP net loss per basic and diluted share was $0.23, compared to a GAAP net loss per basic and diluted share of $0.34 for the same period last year. Non-GAAP net income was $14.5 million, compared to a Non-GAAP net income of $2.1 million for the same period last year. Non-GAAP net income per diluted share was $0.20, compared to a Non-GAAP net income per diluted share of $0.03 for the same period last year.
• Operating cash flows and adjusted free cash flows were positive $15.4 million and $22.4 million, respectively.

"Our strong first quarter results are a clear representation of the value Coupa delivers to customers in all economic climates," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "As we focus on supporting our employees and ensuring all members of the Coupa community emerge from this pandemic stronger, we continue to leverage our thoughtful, disciplined financial approach, the strength of our balance sheet, and a focus on business resilience to foster growth and position ourselves for sustained market leadership well beyond the current crisis."

GUIDANCE:

Coupa Software sees Q2 2021 EPS of $0.06-$0.08, versus the consensus of $0.07. Coupa Software sees Q2 2021 revenue of $118-119 million, versus the consensus of $117.05 million.

Coupa Software sees FY2021 EPS of $0.36-$0.38, versus the consensus of $0.33. Coupa Software sees FY2021 revenue of $489-491 million, versus the consensus of $487.89 million.

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

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