Volatile stock to watch: Coupa Software Inc (NASDAQ: COUP)

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Coupa Software Inc (NASDAQ: COUP) stock corrected over 11.3% on 4th December 2018 after a lower than expected results for the third quarter of 2019. The stock slightly recovered over 1.2% in the after-hours session on August 4th, 2018.

More than 100 Coupa customers have gone live this fiscal quarter, this fiscal year, rather. Ingersoll Rand went live in the U.S. and Canada in a rapid deployment focused on increased electronic invoicing, improved spend under management, and the achievement of 100% electronic purchase orders. Zurich Insurance went live with Coupa in the UK with a special focus on increased PO matching, electronic invoicing spends under contract and user experience scores. Denmark’s largest retailer went live with Coupa at 600 sites across Denmark in the first phase of a 1,200-site, 4 country rollout. Finally, Inchcape, a leading independent global automotive distributor and retailer, who was announced as a new customer just last quarter went live with Coupa in the UK and Australia in the first phase of a major global procurement transformation where Coupa will be rolled out in all operational and corporate locations across the world.

COUP in the third quarter of FY 19 has reported the adjusted earnings per share of 8 cents, while adjusted revenue growth was 42 percent to $67.46 million in the third quarter of FY 19.

Subscription revenues were $60.6 million, up 42% year-over-year and comprised 90% of total revenues, and professional services revenues were $6.9 million. Total non-GAAP operating income for Q3 was positive $5.8 million or 9% of revenue compared to negative 5% of revenue in the year ago period driven by solid top line growth, successful integrations of company’s acquired and continued scaling of the business. On a trailing 12-month basis, non-GAAP operating income was $11 million or 4.6% of revenue. Total calculated billings for the trailing 12 months were $271.7 million, up 39% year-over-year compared to 37% in the same period last year and 38% last quarter. The third quarter non-GAAP gross margin was 73.3% compared to 72.6% a year ago. Non-GAAP subscription margin was 81% and non-GAAP professional services margin was 4%. Overall, the company delivered Q3 non-GAAP positive net income of $5.5 million compared to a non-GAAP net loss of $2.8 million a year ago.

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