Coupa Software Inc. (NASDAQ: COUP) reported a surprise profit on an adjusted basis for the fiscal fourth quarter on Tuesday. The company also said that its sales in Q4 were better than Wall Street estimates.
Coupa Software shares were reported more than 1% up in after-hours trading on Tuesday. The stock now has a per-share price of £198.69 after recovering from £90.86 in March 2020 when the impact of the COVID-19 pandemic was at its peak. The price action should come in handy if you are interested in investing in the stock market.
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The Coronavirus crisis has so far infected more than 30 million people in the United States and caused over half a million deaths.
Coupa Software’s Q4 financial results versus analysts’ estimates
Coupa Software said that it concluded the fourth quarter with £44.20 million of loss that translates to 61.19 pence per share. In the same quarter last year, it had posted a narrower £17.35 million of loss, or 27.36 pence per share.
Adjusted for non-recurring items, the global technology platform registered £9.36 million of earnings, or 12.24 pence per share, versus the year-ago figure of a higher 15.12 pence per share. In the prior quarter (Q3), Coupa Software had recorded £45.50 million of net loss, as per the report published in the first week of December 2020.
Coupa Software said that its revenue in the recent quarter came in at £117.70 million that represents a 47% annualised growth. According to FactSet, experts had forecast the company to note £105.10 million of sales in Q4. They had expected 7.92 pence of adjusted quarterly loss per share.
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Other prominent figures in Coupa’s earnings report
Other prominent figures in the San Mateo-based company’s earnings report on Tuesday include £97.11 million of subscription revenues – a 37% year over year increase.
For the fiscal first quarter, Coupa Software now forecasts its sales to fall in the range of £109.06 million to £109.78 million. It expects up to 15.12 pence per share of adjusted net loss in Q1. In separate news from the United States, Eastman Kodak Company also published its full-year financial results for 2020 on Tuesday.
Coupa Software performed massively upbeat in the stock market last year with an annual gain of more than 100%. At the time of writing, the global technology platform for Business Spend Management has a market cap of £14.13 billion.