Coupa Software (COUPA, $72.78) fiscal Q1 earnings beats Zacks Consensus Estimate

Coupa Software posted fiscal first quarter earnings that surpassed Zacks Consensus Estimate.

Non-GAAP net income during the quarter came in at 8 cents per share, exceeding  the Zacks Consensus Estimate by 3 cents.

Revenues grew +17.6% from the year-ago quarter to $196.4 million, also topping the Zacks Consensus Estimate of $196 million. Growth was bolstered by strength in Antares app, which provides customers with the flexibility to access supplier risk at the time of sourcing, monitoring third-party data and providing instant visibility to supplier risk scores.

Subscription revenues climbed 27.4% from the year-ago quarter to $178.5 million, on the back of strengthening of the U.S. dollar against the euro. Professional services revenues, however, plunged by 33.2% from the year-ago quarter to  $17.9 million.

For second-quarter fiscal 2023, Coupa Software expects total revenues in the range of $202-$205 million. Subscription revenues are estimated to be be in the range of $185-$188 million and professional services and other revenues are expected to be approximately $17 million. The company projects non-GAAP earnings to be in the range of 7-10 cents per share.

For fiscal full-year 2023, the company boosted its outlook for revenues to $838-$848 million from $836-$840 million. It expects subscription revenues to be in the range of $762-$767 million, and  professional services and other revenues to be approximately $76 million. It predicts non-GAAP earnings to be in the range of 21-27 cents per share.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.