Shares of Coupa Software Inc (NASDAQ: COUP) are up nearly 15% in extended trading after the software company reported market-beating results for its fiscal second quarter.
Key takeaways from Coupa Q2 earnings report
Lost $75.3 million versus the year-ago $91.5 millionPer-share loss narrowed to 99 cents from $1.24On an adjusted basis, earnings printed at 20 cents a shareRevenue jumped 18% year-on-year to $211.1 millionConsensus was 9 cents a share on $203.8 million revenueGenerated free cash flow (adjusted) worth $25 million
Subscription revenue up 23% was also better than expected. In the earnings press release, CEO Rob Bernshteyn said:
We delivered record revenues, strong growth in our subscription calculated billings, and we continue to deliver strong cash flows and profitability on a non-GAAP basis.
Including the tech news this evening, Coupa shares are still down more than 60% versus the start of 2022.
Coupa shares up as Board authorised stock buyback
Also on Tuesday, the Board of Directors authorised $100 million in share repurchase.
For the full financial year, Coupa Software expects its revenue to fall between $838 million and $844 million – roughly in line with $840.2 million that experts had forecast. Bernshteyn added:
We focus everything we do on our customers. As illustrated by our results, the Coupa BSM community is vibrant and powering business transformation and growth.
Wall Street recommends that you buy Coupa shares as they have another 25% upside from here. Executives discussed results on the earnings call here.
The post Coupa shares jumped 15% after the bell: what’s fuelling the stock? appeared first on Invezz.