Earnings Highlights and Review: Coupa Software's Q1 Top-line Surged 41%; Surprised Market Estimates
LONDON, UK / ACCESSWIRE / June 26, 2017 / Trader Daily has just published a free post-earnings coverage on Coupa Software Inc. (NASDAQ: COUP), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=COUP, following the Company's release of its financial results for the first quarter fiscal 2018 (Q1 FY18) on June 05, 2017. The San Mateo, California-based Company's total revenues surged 41% y-o-y, topping market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Earnings Reviewed
During the quarter ended on April 30, 2017, Coupa Software's total revenues increased to $41.14 million from $29.18 million recorded at the end of Q1 FY17. Total revenue numbers for Q1 FY18 beat market consensus estimates of $38.0 million. The Company's subscription services revenues were $35.66 million in Q1 FY18, an increase of 41% from $25.37 million in Q1 FY17. Furthermore, professional services and other revenues increased during Q1 FY18 to $5.47 million from $3.81 million reported in Q1 FY17.
The cloud-based spend management Company's net loss narrowed to $10.04 million, or $0.20 loss per diluted share, in Q1 FY18 from net loss of $11.87 million, or $2.11 loss per diluted share, in Q1 FY17. The Company posted non-GAAP net loss of $4.45 million, or $0.09 per diluted share, in Q1 FY18 compared to non-GAAP net loss of $9.86 million, or $1.76 per diluted share, in Q1 FY17. Wall Street had expected the Company to report non-GAAP net loss of $0.14 loss per share.
Operational Metrics
For the reported quarter, the Company's total cost of revenues came in at $13.50 million, up from $12.02 million in the prior year's same quarter. The Company's GAAP gross profit rose to $27.64 million in Q1 FY18 from $17.17 million in Q1 FY17. Total operating expenses also increased to $38.03 million from $29.23 million in the previous year's comparable quarter. However, the Company reported GAAP operating loss during Q1 FY18 of $10.39 million compared to GAAP operating loss of $12.06 million in Q1 FY17. Furthermore, non-operating loss for the reported quarter stood at $ 4.62 million compared to GAAP operating loss of $ 10.01 million in Q1 FY17
Cash Flow & Balance Sheet
During Q1 FY18, Coupa Software's net cash provided by operating activities were $7.16 million against net cash used in operating activities of $10.23 million in Q1 FY17. At the close of books in the reported quarter, Coupa Software had $238,121 million in form of cash and cash equivalents compared to $201.72 million at the close of books on January 31, 2017.
Outlook
In its guidance for the full-year FY18, Coupa Software's total net revenue is expected to be in the range of $172 million and $175 million, with non-GAAP loss from operations in the range of $25 million and $27 million. Non-GAAP net loss for FY17 is anticipated to be between $0.49 loss per share and $0.53 loss per share.
For Q2 FY18, the Company projects total net revenue range of $41.3 million and $41.8 million. The non-GAAP loss from operations during the upcoming quarter is forecasted in the range of $9.0 million and $10.0 million. Furthermore, non-GAAP net loss per share for Q2 FY18 is anticipated to be between $0.18 loss per share and $0.20 loss per share.
Stock Performance
Coupa Software's share price finished last Friday's trading session at $30.89, advancing 1.05%. A total volume of 3.19 million shares have exchanged hands, which was higher than the 3-month average volume of 634.30 thousand shares. The Company's stock price rallied 29.36% in the last three months and 22.73% in the past six months. Additionally, the stock surged 23.51% since the start of the year. The stock currently has a market cap of $1.66 billion.
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