Coupa Software (NASDAQ:COUP), a leader in cloud-based spend
management, today announced its financial results for the third
quarter of fiscal year 2018, as follows:
- Revenues: Total revenues were $47.3 million,
an increase of 34% from the same period last year. Subscription
services revenues were $42.8 million, an increase of 39% from the
same period last year.
- Loss from Operations: GAAP operating loss was
$11.2 million, compared to a loss of $5.5 million for the same
period last year. Non-GAAP operating loss was $2.4 million,
compared to a loss of $2.9 million for the same period last
year.
- Net Loss: GAAP net loss was $11.3 million,
compared to a loss of $6.7 million for the same period last year.
GAAP net loss per basic and diluted share was $0.21, compared to a
loss of $0.36 for the same period last year. Non-GAAP net loss was
$2.8 million, compared to a loss of $4.1 million for the same
period last year. Non-GAAP net loss per basic and diluted share was
$0.05, compared to a loss of $0.22 per share for the same period
last year.
- Balance Sheet: Cash and cash equivalents were
$219.3 million as of October 31, 2017. Total deferred revenue was
$97.6 million as of October 31, 2017.
- Cash Flow: Cash flow provided from operating
activities for the nine months ended October 31, 2017 was $21.5
million.
“Q3 was another strong quarter for Coupa, highlighted by 39%
growth in subscription revenues and our third consecutive quarter
with positive operating cash flows,” said Rob Bernshteyn, CEO of
Coupa. “With our latest product release, we continue to focus on
delivering the most innovative and open Cloud platform for business
spend and driving measurable customer value. As we look forward, we
are well positioned to finish the year strong and continue our
rapid growth.”
Business Outlook:
The following forward-looking statements reflect Coupa’s
expectations as of December 4, 2017.
Fourth quarter of fiscal 2018:
- Total revenues are expected to be between $48.3 and $48.8
million, with approximately $4.5 million from professional
services.
- Non-GAAP loss from operations is expected to be between $7.5
and $9.0 million.
- Non-GAAP net loss per share is expected to be between $0.14
loss and $0.16 loss per share.
- Basic and diluted weighted average share count is expected to
be approximately 54.7 million shares.
Full year fiscal 2018:
- Total revenues are expected to be between $181.5 and $182.0
million.
- Non-GAAP loss from operations is expected to be between $19.5
and $21.0 million.
- Non-GAAP net loss per share is expected to be between $0.37
loss and $0.39 loss per share.
- Basic and diluted weighted average share count is expected to
be approximately 53.0 million shares.
See the sections titled “Non-GAAP Financial Measures” and the
reconciliation tables below for important details regarding Coupa’s
non-GAAP measures.
Recent Business Highlights:
- Caterpillar, the world’s leading manufacturer of construction
and mining equipment, diesel and natural gas engines, industrial
gas turbines and diesel-electric locomotives, has gone live with
Coupa at their first location.
- New customer wins in Q3 included, among others, the following
key customers:° Toyota Financial Services: A leading provider
of automotive financial services, offering an extensive line of
financing plans and vehicle and payment protection products to
Toyota customers and dealers in the U.S.° Zurich Insurance: A
leading multi-line insurer that serves its customers in global and
local markets.° Dansk Supermarked Group: The largest retailer in
Denmark.° Other customer wins included: Razer (Asia Pacific),
CrossFit, CHEP USA, Dentsu Aegis Network, Host Analytics, Pro Mach,
UnitedWeb-Nextiva, SoftServe, CrossCountry, TeamHealth, Bristol
Hospice, Neighborhood Healthcare, Auction Edge, Moovel, and P.F.
Chang’s.
- Coupa Release 19 (R19), the company’s third major release of
the calendar year, was made generally available in October. R19
modernizes risk management, redefines sourcing optimization, adds
travel and expense community intelligence, and enhances the Coupa
Spend Management Platform with more than 70 new capabilities.
- Coupa announced the general availability of Coupa Open Buy with
Amazon Business, which expands customer buying options by giving
employees access to the Amazon Business marketplace. The company
also announced the addition of Coupa to the Amazon Web Services
(AWS) Marketplace, where customers can now quickly discover and
subscribe to Coupa Spend Management Solutions.
- Coupa announced that senior software executive Mark Riggs
joined the company as its first Chief Customer Officer. With more
than 25 years of experience, Mr. Riggs has a consistent track
record of creating and scaling customer-facing teams across
organizations while delivering optimal success to internal and
external stakeholders.
- In October, Coupa hosted its annual European spend management
conference, Coupa Inspire ‘17 in London. Inspire ‘17 featured
speakers from some of the world’s leading brands, including Airbus,
IKEA, Deloitte, Accenture, Maersk Line, and Pearson.
Conference Call Information:
Coupa will host a conference call and live webcast for analysts
and investors at 5:00 p.m. Eastern time today.
- Parties in the U.S. and Canada can access the call by dialing
888-466-4587, using conference code 4942682.
- International parties can access the call by dialing
719-457-2640, using conference code 4942682.
The webcast will be accessible on Coupa’s investor relations
website at investors.coupa.com. A replay will be available through
the same link. A telephonic replay of the conference call will be
available through Monday, December 11, 2017. To access the replay,
parties in the U.S. and Canada should call 888-203-1112 and enter
conference code 4942682. International parties should call
719-457-0820 and enter conference code 4942682.
Non-GAAP Financial Measures:
In addition to disclosing financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this press release and the accompanying tables contain
certain non-GAAP financial measures that exclude share-based
compensation expense, litigation-related costs, amortization of
intangible assets acquired and related tax effects. Coupa believes
these non-GAAP measures are useful in evaluating its operating
performance and regularly reviews these measures as it evaluates
its business.
Coupa believes these non-GAAP measures provide investors and
other users of its financial information consistency and
comparability with its past financial performance and facilitate
period to period comparisons of operations. Coupa believes these
non-GAAP measures are useful in evaluating its operating
performance compared to that of other companies in its industry, as
they generally eliminate the effects of certain items that may vary
for different companies for reasons unrelated to overall operating
performance.
Coupa uses these non-GAAP measures in conjunction with GAAP
measures as part of its overall assessment of its performance,
including the preparation of its annual operating budget and
quarterly forecasts, to evaluate the effectiveness of its business
strategies and to communicate with its board of directors
concerning its financial performance. The definitions of its
non-GAAP measures may differ from the definitions used by other
companies and therefore comparability may be limited. In addition,
other companies may not publish these or similar metrics.
Thus, Coupa's non-GAAP measures should be considered in
addition to, not as substitutes for, or in isolation from, measures
prepared in accordance with GAAP.
Coupa compensates for these limitations by providing investors
and other users of its financial information a reconciliation of
non-GAAP measures to the related GAAP financial measures. Coupa
encourages investors and others to review its financial information
in its entirety, not to rely on any single financial measure and to
view its non-GAAP measures in conjunction with GAAP financial
measures. Please see the reconciliation of non-GAAP financial
measures to the most directly comparable GAAP measures attached to
this release.
With respect to Coupa’s guidance as provided under “Business
Outlook” above, Coupa has not reconciled its expectations for
non-GAAP loss from operations to GAAP loss from operations or
non-GAAP net loss per share to GAAP net loss per share because
certain items excluded from non-GAAP operating loss, such as
charges related to share-based compensation expense,
litigation-related costs, amortization of intangible assets
acquired and related tax effects, cannot be reasonably calculated
or predicted at this time. The effect of these excluded items may
be significant.
Forward-Looking Statements:
This release includes forward-looking statements. All statements
other than statements of historical facts, including the statements
of management and statements in “Business Outlook" are
forward-looking statements. These forward-looking statements are
based on Coupa’s current expectations and projections about future
events and trends that Coupa believes may affect its financial
condition, results of operations, strategy, short- and long-term
business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of
risks, uncertainties and assumptions that may cause actual results
to differ materially, including: Coupa has a limited operating
history, which makes it difficult to predict its future operating
results; if Coupa is unable to attract new customers, the growth of
its revenues will be adversely affected; because its platform is
sold to large enterprises with complex operating environments,
Coupa encounters long and unpredictable sales cycles; the markets
in which Coupa participates are intensely competitive; Coupa’s
business depends substantially on its customers renewing their
subscriptions and purchasing additional subscriptions; risks and
liabilities related to breach of its security measures or
unauthorized access to customer data; if Coupa fails to develop
widespread brand awareness cost-effectively, its business may
suffer; and if Coupa fails to manage its recent rapid growth
effectively, Coupa may be unable to execute its business plan,
maintain high levels of service, or adequately address competitive
challenges.
These and other risks and uncertainties that could affect
Coupa’s future results are included under the captions “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” in Coupa’s quarterly report
on Form 10-Q filed with the SEC on September 8, 2017, which is
available at investors.coupa.com and on the SEC’s website at
www.sec.gov. Further information on potential risks that could
affect actual results will be included in other periodic filings
Coupa makes with the SEC.
The forward-looking statements in this release reflect Coupa’s
expectations as of December 4, 2017. Coupa undertakes no obligation
to update publicly any forward-looking statements for any reason
after the date of this release to conform these statements to
actual results or to changes in its expectations.
About Coupa Software Coupa Software
(NASDAQ:COUP) is the cloud platform for business spend. We deliver
“Value as a Service” by helping our customers maximize their spend
under management, achieve significant cost savings, and drive
profitability. Coupa provides a unified, cloud-based spend
management platform that connects hundreds of organizations
representing the Americas, EMEA, and APAC with millions of
suppliers globally. The Coupa platform provides greater visibility
into and control over how companies spend money. Customers – small,
medium and large – have used the Coupa platform to bring billions
of dollars in cumulative spend under management. Learn more at
www.coupa.com. Read more on the Coupa Blog or follow @Coupa on
Twitter.
Investor Relations:The Blueshirt Group for
Coupa Ryan Hutchinson415-489-2186 ir@coupa.com
Media Contact: Global Public Relations Orlando
De Bruce650-485-8629 orlando.debruce@coupa.com
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COUPA SOFTWARE INCORPORATED |
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS |
|
(In thousands, except per share
amounts) |
|
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
October 31, |
|
October 31, |
|
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
Revenues: |
|
|
|
|
|
|
|
|
|
Subscription services |
|
$ 42,795 |
|
$ 30,799 |
|
$ 118,223 |
|
$ 83,954 |
|
Professional services and other |
|
4,545 |
|
4,643 |
|
14,805 |
|
11,803 |
|
Total
revenues |
|
47,340 |
|
35,442 |
|
133,028 |
|
95,757 |
|
Cost of
revenues: |
|
|
|
|
|
|
|
|
|
Subscription services |
|
9,554 |
|
6,346 |
|
26,575 |
|
18,425 |
|
Professional services and other |
|
5,441 |
|
5,031 |
|
16,865 |
|
16,451 |
|
Total
cost of revenues |
|
14,995 |
|
11,377 |
|
43,440 |
|
34,876 |
|
Gross
profit |
|
32,345 |
|
24,065 |
|
89,588 |
|
60,881 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Research
and development |
|
11,409 |
|
7,179 |
|
31,301 |
|
22,225 |
|
Sales and
marketing |
|
22,402 |
|
16,315 |
|
66,892 |
|
51,403 |
|
General
and administrative |
|
9,693 |
|
6,068 |
|
27,300 |
|
16,241 |
|
Total
operating expenses |
|
43,504 |
|
29,562 |
|
125,493 |
|
89,869 |
|
Loss
from operations |
|
(11,159) |
|
(5,497) |
|
(35,905) |
|
(28,988) |
|
Other
income (expense), net |
|
120 |
|
(986) |
|
1,261 |
|
(1,509) |
|
Loss
before provision for income taxes |
|
(11,039) |
|
(6,483) |
|
(34,644) |
|
(30,497) |
|
Provision for income taxes |
|
263 |
|
211 |
|
438 |
|
502 |
|
Net loss
and comprehensive loss |
|
$ (11,302) |
|
$ (6,694) |
|
$ (35,082) |
|
$ (30,999) |
|
Net loss
per share attributable to common stockholders, basic and
diluted |
|
$ (0.21) |
|
$ (0.36) |
|
$ (0.67) |
|
$ (3.10) |
|
Weighted-average number of shares used in computing net loss per
share attributable to common stockholders, basic and diluted |
|
53,779 |
|
18,420 |
|
52,388 |
|
9,987 |
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED BALANCE SHEETS |
(In thousands, except share and per share
amounts) |
(unaudited) |
|
|
|
|
|
|
|
October 31, |
|
January 31, |
|
|
2017 |
|
2017 |
Assets |
|
|
|
|
Current
assets: |
|
|
|
|
Cash and
cash equivalents |
|
$ 219,298 |
|
$ 201,721 |
Accounts
receivable, net of allowances |
|
32,958 |
|
47,614 |
Prepaid
expenses and other current assets |
|
9,774 |
|
9,150 |
Deferred
commissions, current portion |
|
3,087 |
|
3,091 |
Total
current assets |
|
265,117 |
|
261,576 |
Property
and equipment, net |
|
5,209 |
|
4,642 |
Deferred
commissions, net of current portion |
|
2,848 |
|
2,895 |
Goodwill |
|
37,146 |
|
6,306 |
Intangible assets, net |
|
17,229 |
|
5,848 |
Other
assets |
|
4,033 |
|
2,597 |
Total
assets |
|
$ 331,582 |
|
$ 283,864 |
Liabilities and Stockholders’ Equity |
|
|
|
|
Current
liabilities: |
|
|
|
|
Accounts
payable |
|
$ 1,715 |
|
$ 1,175 |
Accrued
expenses and other current liabilities |
|
26,721 |
|
17,490 |
Deferred
revenue, current portion |
|
96,510 |
|
89,872 |
Total
current liabilities |
|
124,946 |
|
108,537 |
Deferred
revenue, net of current portion |
|
1,132 |
|
968 |
Other
liabilities |
|
4,461 |
|
467 |
Total
liabilities |
|
130,539 |
|
109,972 |
Commitments and contingencies |
|
|
|
|
Stockholders’ equity: |
|
|
|
|
Preferred
stock, $0.0001 par value per share |
|
- |
|
- |
Common
stock, $0.0001 par value per share |
|
6 |
|
5 |
Additional paid-in capital |
|
396,795 |
|
334,363 |
Accumulated deficit |
|
(195,758) |
|
(160,476) |
Total
stockholders’ equity |
|
201,043 |
|
173,892 |
Total liabilities and stockholders’ equity |
|
$ 331,582 |
|
$ 283,864 |
|
|
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|
|
|
|
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|
COUPA SOFTWARE INCORPORATED |
CONSOLIDATED STATEMENTS OF CASH
FLOWS |
(In thousands) |
(unaudited) |
|
|
|
|
|
|
|
Nine Months Ended |
|
|
October 31, |
|
|
2017 |
|
2016 |
Cash flows from operating activities |
|
|
|
|
Net
loss |
|
$ (35,082) |
|
$ (30,999) |
Adjustments to reconcile net loss to net cash provided by (used in)
operating activities: |
|
|
|
|
Depreciation and amortization |
|
5,557 |
|
3,265 |
Amortization of deferred commissions |
|
2,967 |
|
2,976 |
Stock-based compensation |
|
20,783 |
|
5,649 |
Other
non-cash items |
|
202 |
|
606 |
Changes
in operating assets and liabilities net of effects from
acquisitions: |
|
|
|
|
Accounts
receivable |
|
15,625 |
|
3,773 |
Prepaid
expenses and other current assets |
|
(571) |
|
(5,483) |
Other
assets |
|
503 |
|
(944) |
Deferred
commissions |
|
(2,915) |
|
(2,623) |
Accounts
payable |
|
335 |
|
202 |
Accrued
expenses and other liabilities |
|
8,408 |
|
4,963 |
Deferred
revenue |
|
5,703 |
|
8,071 |
Net cash provided by (used in) operating
activities |
|
21,515 |
|
(10,544) |
Cash flows from investing activities |
|
|
|
|
Acquisitions, net of cash acquired |
|
(39,593) |
|
- |
Purchase
of property and equipment |
|
(3,587) |
|
(3,500) |
Decrease
in restricted cash |
|
34 |
|
- |
Net cash used in investing activities |
|
(43,146) |
|
(3,500) |
Cash flows from financing activities |
|
|
|
|
Proceeds
from issuance of common stock, net of underwriting
discounts, commissions and offering costs |
|
22,264 |
|
138,189 |
Proceeds
from the exercise of common stock options |
|
10,120 |
|
4,100 |
Excess
tax benefit from stock-based compensation |
|
- |
|
52 |
Proceeds
from issuance of common stock for employee stock purchase plan |
|
6,824 |
|
- |
Net cash provided by financing
activities |
|
39,208 |
|
142,341 |
Net
increase in cash and cash equivalents |
|
17,577 |
|
128,297 |
Cash and
cash equivalents at beginning of period |
|
201,721 |
|
92,348 |
Cash and
cash equivalents at end of period |
|
$ 219,298 |
|
$ 220,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COUPA SOFTWARE
INCORPORATED |
|
Three Months Ended October 31,
2017 |
|
Reconciliation of GAAP to Non-GAAP
Financial Measures |
|
(in thousands, except per share
amounts) |
|
(unaudited) |
|
|
GAAP |
|
Share-Based Compensation Expenses |
|
Amortization of Acquired Intangible
Assets |
|
Non-GAAP |
|
Costs
and expenses: |
|
|
|
|
|
|
|
|
Costs of
subscription services |
$ 9,554 |
|
$ (585) |
|
$ (747) |
|
$ 8,222 |
|
Costs of
professional services and other |
5,441 |
|
(685) |
|
- |
|
4,756 |
|
Gross
profit |
68.3% |
|
2.7% |
|
1.6% |
|
72.6% |
|
Research
and development |
11,409 |
|
(1,999) |
|
- |
|
9,410 |
|
Sales
and marketing |
22,402 |
|
(2,212) |
|
(195) |
|
19,995 |
|
General
and administrative |
9,693 |
|
(2,386) |
|
- |
|
7,307 |
|
Loss
from operations |
(11,159) |
|
7,867 |
|
942 |
|
(2,350) |
|
Operating margin |
-23.6% |
|
16.6% |
|
2.0% |
|
-5.0% |
|
Other
income, net |
120 |
|
- |
|
- |
|
120 |
|
Loss
before provision for income taxes |
(11,039) |
|
7,867 |
|
942 |
|
(2,230) |
|
Aggregate adjustment for income taxes |
263 |
|
222 |
|
119 |
|
604 |
|
Net
loss |
(11,302) |
|
7,645 |
|
823 |
|
(2,834) |
|
Net loss
per share attributable to common stockholders, basic and diluted
(1) |
$ (0.21) |
|
|
|
|
|
$ (0.05) |
|
(1)
Calculated based upon 53,779 basic and diluted weighted-average
shares of common stock |
|
|
|
|
|
|
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|
|
|
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|
|
|
COUPA SOFTWARE
INCORPORATED |
Three Months Ended October 31,
2016 |
Reconciliation of GAAP to Non-GAAP
Financial Measures |
(in thousands, except per share
amounts) |
(unaudited) |
|
GAAP |
|
Share-Based Compensation Expenses |
|
Amortization of Acquired Intangible
Assets |
|
Litigation-Related Costs |
|
Non-GAAP |
Costs
and expenses: |
|
|
|
|
|
|
|
|
|
Costs of
subscription services |
$ 6,346 |
|
$ (150) |
|
$ (212) |
|
$ - |
|
$ 5,984 |
Costs of
professional services and other |
5,031 |
|
(155) |
|
- |
|
- |
|
4,876 |
Gross
profit |
67.9% |
|
0.9% |
|
0.6% |
|
- |
|
69.4% |
Research
and development |
7,179 |
|
(357) |
|
- |
|
- |
|
6,822 |
Sales
and marketing |
16,315 |
|
(937) |
|
- |
|
- |
|
15,378 |
General
and administrative |
6,068 |
|
(785) |
|
- |
|
(1) |
|
5,282 |
Loss
from operations |
(5,497) |
|
2,384 |
|
212 |
|
1 |
|
(2,900) |
Operating margin |
-15.5% |
|
6.7% |
|
0.6% |
|
0.0% |
|
-8.2% |
Other
expense, net |
(986) |
|
- |
|
- |
|
- |
|
(986) |
Loss
before provision for income taxes |
(6,483) |
|
2,384 |
|
212 |
|
1 |
|
(3,886) |
Aggregate adjustment for income taxes |
211 |
|
20 |
|
- |
|
- |
|
231 |
Net
loss |
(6,694) |
|
2,364 |
|
212 |
|
1 |
|
(4,117) |
Net loss
per share attributable to common stockholders, basic and diluted
(1) |
$ (0.36) |
|
|
|
|
|
|
|
$ (0.22) |
(1)
Calculated based upon 18,420 basic and diluted weighted-average
shares of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COUPA SOFTWARE
INCORPORATED |
Nine Months Ended October 31,
2017 |
Reconciliation of GAAP to Non-GAAP
Financial Measures |
(in thousands, except per share
amounts) |
(unaudited) |
|
GAAP |
|
Share-Based Compensation Expenses |
|
Amortization of Acquired Intangible
Assets |
|
Non-GAAP |
Costs
and expenses: |
|
|
|
|
|
|
|
Costs of
subscription services |
$ 26,575 |
|
$ (1,469) |
|
$ (2,021) |
|
$ 23,085 |
Costs of
professional services and other |
16,865 |
|
(1,965) |
|
- |
|
14,900 |
Gross
profit |
67.3% |
|
2.6% |
|
1.5% |
|
71.4% |
Research
and development |
31,301 |
|
(4,798) |
|
- |
|
26,503 |
Sales
and marketing |
66,892 |
|
(6,152) |
|
(384) |
|
60,356 |
General
and administrative |
27,300 |
|
(6,399) |
|
- |
|
20,901 |
Loss
from operations |
(35,905) |
|
20,783 |
|
2,405 |
|
(12,717) |
Operating margin |
-27.0% |
|
15.6% |
|
1.8% |
|
-9.6% |
Other
income, net |
1,261 |
|
- |
|
- |
|
1,261 |
Loss
before provision for income taxes |
(34,644) |
|
20,783 |
|
2,405 |
|
(11,456) |
Aggregate adjustment for income taxes |
438 |
|
585 |
|
238 |
|
1,261 |
Net
loss |
(35,082) |
|
20,198 |
|
2,167 |
|
(12,717) |
Net loss
per share attributable to common stockholders, basic and diluted
(1) |
$ (0.67) |
|
|
|
|
|
$ (0.24) |
(1)
Calculated based upon 52,388 basic and diluted weighted-average
shares of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COUPA SOFTWARE
INCORPORATED |
Nine Months Ended October 31,
2016 |
Reconciliation of GAAP to Non-GAAP
Financial Measures |
(in thousands, except per share
amounts) |
(unaudited) |
|
GAAP |
|
Share-Based Compensation Expenses |
|
Amortization of Acquired Intangible
Assets |
|
Litigation-Related Costs |
|
Non-GAAP |
Costs
and expenses: |
|
|
|
|
|
|
|
|
|
Costs of
subscription services |
$ 18,425 |
|
$ (415) |
|
$ (644) |
|
$ - |
|
$ 17,366 |
Costs of
professional services and other |
16,451 |
|
(399) |
|
- |
|
- |
|
16,052 |
Gross
profit |
63.6% |
|
0.9% |
|
0.7% |
|
- |
|
65.1% |
Research
and development |
22,225 |
|
(982) |
|
- |
|
- |
|
21,243 |
Sales
and marketing |
51,403 |
|
(1,848) |
|
- |
|
- |
|
49,555 |
General
and administrative |
16,241 |
|
(2,005) |
|
- |
|
(151) |
|
14,085 |
Loss
from operations |
(28,988) |
|
5,649 |
|
644 |
|
151 |
|
(22,544) |
Operating margin |
-30.3% |
|
5.9% |
|
0.7% |
|
0.2% |
|
-23.5% |
Other
expense, net |
(1,509) |
|
- |
|
- |
|
- |
|
(1,509) |
Loss
before provision for income taxes |
(30,497) |
|
5,649 |
|
644 |
|
151 |
|
(24,053) |
Aggregate adjustment for income taxes |
502 |
|
65 |
|
- |
|
- |
|
567 |
Net
loss |
(30,999) |
|
5,584 |
|
644 |
|
151 |
|
(24,620) |
Net loss
per share attributable to common stockholders, basic and diluted
(1) |
$ (3.10) |
|
|
|
|
|
|
|
$ (2.47) |
(1)
Calculated based upon 9,987 basic and diluted weighted-average
shares of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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