Tech stock under pressure: Coupa Software Inc (NASDAQ: COUP)

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Coupa Software Inc (NASDAQ: COUP) stock lost over 4.9% in the pre-market session of June 9th, 2020 (Source: Google finance) after the company posted lower than expected results for the first quarter of FY 21. The company generated operating cash flows and adjusted free cash flows of $15.4 million and $22.4 million, respectively.

The company has reported the net income of $14.5 million compared to $2.1 million, a year ago. The company ended the first quarter with cumulative spending amounts that are now being about $1.8 trillion. In addition to acting quickly to control spend, the customers of the company have looked to Coupa to help reduce the supply risks and build business resiliency.

COUP in the first quarter of FY 21 has reported the adjusted earnings per share of 20 cents, while adjusted revenue growth of 47 percent to $119.2 million in the first quarter of FY 21. Subscription revenues grew 45% to $105.7 million compared to the same period last year. Professional services and other revenue was $13 million for the period. The company’s Non-GAAP operating income increased to $14.9 million, compared to a Non-GAAP operating income of $2.2 million for the same period last year. Calculated billings for Q1 were up 36% to $102 million, up from $75 million in Q1 of last year. Total deferred revenue at the end of Q1 increased to 39% to $244 million, up from $176 million at the end of Q1 last year.

For the second quarter of fiscal 2021, the company expects total revenues to be in the range of $118 to $119 million, Subscription revenues are expected to be in the range of $107 to $108 million, Professional services and other revenues are expected to be in the range of approximately $11 million, Non-GAAP income from operations is expected to be in the range of $5.0 to $6.8 million and Non-GAAP net income per diluted share is expected to be in the range of $0.06 to $0.08 per share.

For full year fiscal 2021, the company expects total revenues to be in the range of $489 to $491 million, Non-GAAP income from operations is expected to be in the range of $28 to $30 million and Non-GAAP net income per diluted share is expected to be $0.36 to $0.38 per share.

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