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Coupa reports revenue up 44% in fiscal Q1

June 04, 2019

Business spend software supplier Coupa Software (NASDAQ: COUP) reported revenue rose 44.3% in its fiscal first quarter ended April 30. However, net loss increased to $20.5 million. The San Mateo, California-based company had acquired vendor management system provider DCR Workforce Inc. in August 2018 for $25.0 million in cash.

(US$ thousands) Q1 2019 Q1 2018 % change
Revenue $81,344 $56,352 44.3%
Gross profit $54,015 $38,227 41.3%
Gross margin 66.4% 67.8%  
Net loss ($20,468) ($15,454) nm

Revenue rose in both its “subscription services” and “professional services and other” business lines.

Revenue by segment

(US$ thousands) Q1 2019 Q1 2018 % change
Subscription services $72,957 $49,966 46.0%
Professional services and other $8,387 $6,386 31.3%

Guidance

Coupa forecast second-quarter revenue would be up 38.1% to 38.7%.

Share price and market cap

Shares in Coupa were down 0.35% to $102.13 as of 11:50 a.m. Eastern time; the company had a market cap of $6.29 billion, according to FT.com.

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