Pretty good quarter for Coupa. Coupa offers SaaS products for spend management/procurement, with analytics for visibility and control over how an org spends money. It’s consistently ranked at the top/right of the gartner magic quadrants for “Procure to Pay” suites. 1+Trillion spend under management.
– %50 growth in subscription revenue YoY
– raised outlook
– 27k customers
– $56 Billion TAM
Third quarter of fiscal 2020:
Total revenues are expected to be between $95.5 and $96.5 million.
Subscription revenues are expected to be between $86.0 and $87.0 million.
Professional services and other revenues are expected to be approximately $9.5 million.
Non-GAAP income from operations is expected to be between $3.5 and $5.5 million.
Non-GAAP net income per diluted share is expected to be between $0.05 and $0.08 per share.
Diluted weighted average share count is expected to be approximately 71.7 million shares.
Gross Margin 72.7%
Full year fiscal 2020:
Total revenues are expected to be between $369.0 and $372.0 million.
Non-GAAP income from operations is expected to be between $10.0 and $13.0 million.
Non-GAAP net income per diluted share is expected to be between $0.11 and $0.16 per share.
Diluted weighted average share count is expected to be approximately 70.0 million shares.
Conference Call Notes:
– Not seeing impact in business spend from macro uneveness… strong customer pipeline, retail customers a little more cautious
– Just starting to crack the Global 2000 and Fortune 500. In JPMorgan’s words, now seen perhaps as the ‘safe choice’
– Closed their largest ever mid market and enterprise deals in the quarter
– ARR per logo has gone up sequentially and virtually every quarter since IPO
– They look at it as a developing market, “Their competition is themselves”
– very strong pipeline heading into the backup of the year.
– margin came out +3% due to top line performance
– Starting to land in the federal space
– The sales engine is ‘absolutely working’