Shares of Coupa Software Inc. (NASDAQ:COUP) rallied by almost 8% during the after-hours trading on Tuesday following an upbeat financial report for the fiscal second quarter.
The company posted a revenue of $44.6 million which represents a jump of 43% from the same quarter last year. The company’s fiscal second quarter earnings also came at $0.09 beating most analysts forecasts. The company also beat most revenue estimates of $41.64 million for the quarter.
The American cloud platform for business company reported a strong fiscal second quarter. Coupa chief executive officer Rob Bernshteyn commented that the quarter was a strong one for the company and added that he is pleased with their performance. Along with a rise in their subscription revenues, the company also gained a positive operating cash flow for the quarter and year to date. Their cumulative spend under management also exceeded $500 billion for the quarter which was almost twice as much from last year.
Although the company’s GAAP net loss was higher at $13.7 million compared to their loss of $12.4 million for the same quarter last year. Their net loss per diluted share, however, was lower at $0.26 compared to the $2.13 per share from the same quarter last year.
Their cash flow came at $16.2 million for the six months that ended last July 31 coming from their operating activities.
Aside from their earnings, the company also provided an outlook for the third fiscal quarter. Their revenue is expected to come at around $44.8 million to $45.3 million with around $4 million coming from their professional services. Their losses per share is also expected to come at around $0.10 per share to $0.12
For the full fiscal year, the company is expecting their revenue to come at around $177 million to $179 million with their operations non-GAAP loss is set to come at around $25 to $26 million.