Cloud-based spend management software company Coupa posted losses in its Q2 FY18 report on Wednesday (Sept. 6), but the losses weren’t as steep as previously anticipated.
According to reports in Nasdaq, Coupa’s non-GAAP losses of 10 cents per share were better than previous analysts’ estimates of 17 cents per share — and significantly better than the $1.83 per-share losses the company posted this time last year.
Total GAAP operating loss stood at $14.4 million, with a non-GAAP loss at $5.7 million. That compares to Q2 FY17 GAAP operating losses of $11.4 million and non-GAAP losses of $9.6 million, the spend management software company revealed.
“Q2 was another strong quarter for Coupa, and I am pleased with our performance across the board,” said Coupa CEO Rob Bernshteyn in a statement. “Both total and subscription revenues grew 43 percent year-over-year, and we achieved positive operating cash flows for the quarter and year-to-date. Cumulative spend under management surpassed $500 billion this quarter, nearly doubling from our cumulative total a year ago, as companies continue to realize substantial value from the Coupa platform.”
Shares jumped 7.5 percent in after-hours trading after Coupa released its stats, with share value increased 18.3 percent year-to-date, reports said.
As far as outlooks, Coupa said it expects Q3 revenues to reach between $4.8 million and $45.3 million, with non-GAAP losses at between $5.5 million and $6.5 million. For full-year outlooks, Coupa expects between $177 million and $179 million in total revenues for FY218, with non-GAAP losses between $25 million and $26 million.
Last April, Coupa announced it had acquired strategic eSourcing company Trade Extensions for $45 million — $1 million in cash and $4 million in stock. In January, the company also announced plans to acquire Spend360, a data management firm specializing in corporate finance and procurement.
Additionally, Coupa rolled out Coupa Payments earlier this year, a B2B payments solution integrated into its spend management capabilities that resulted from the firm’s partnership with Nvoicepay.