On March 14, Coupa Software Inc. (COUP) declared its financial results for the quarter and year ended on January 31, 2022. Additionally, the company also announced achieving Moderate Authorization from FedRAMP. Following this, the stock plunged deep in the after-hours due to a weak outlook.
During the regular trading session, the stock remained in the red with a loss of 9.60%. The stock reported its 52-week low of $89.25 during the session after which it closed at $89.82 per share. The volume remained above the average at 7.24 million shares. In the following after-hours session, COUP plunged deep to lose a huge 27.83% on poor outlook. Hence, the stock was trading at $64.82 per share in the after hours. Therefore, COUP marked its new 52-week low in the after-hours at a volume of 3.09 million shares.
The business spends management (BSM) solutions provider, Coupa Software Inc. has a market capitalization of $7.42 billion. Currently, the company has 74.68 million shares outstanding in the market.
COUP’s Q4 Fiscal 2022
For Q4 fiscal 2022, the company reported total revenues of $193.3 million with a growth of 18% YOY.
Moreover, COUP’s non-GAAP net income was $14.4 million, against $13.0 million in the year-ago period. Thus, the non-GAAP net income per diluted share was $0.19 and $0.17 in Q4 of fiscal 2022 and 2021, respectively.
Fiscal 2022 Results
For fiscal 2022, COUP reported total revenues of $725.3 million with a YOY increase of 34%.
Furthermore, the company had a non-GAAP net income of $63.2 million in fiscal 2022, against $55.7 million in the previous year. Resultantly, the non-GAAP net income per diluted share was $0.83 and $0.77 in fiscal 2022 and 2021, respectively.
COUP’s Future Outlook
For Q1 fiscal 2023, the company expects total revenues of $189.0-$191.0 million with a non-GAAP net income of $0.01-$0.06 per diluted share.
In addition, for fiscal 2023, COUP expects total revenues of $836.0-$840.0 million with a non-GAAP net income of $0.15-$0.19 per diluted share.
On Monday, the company also announced authorization from the Federal Risk Authorization Management Program (FedRAMP). As a result, Coupa is now available on FedRAMP Marketplace. This means every federal agency can now start using Coupa’s all-in-one cloud-based platform with added security and compliance.
On Monday, the company provided beat Q4 results along with the good news of FedRAMP authorization. But despite the beat earnings and revenue, COUP failed to impress investors with its outlook. Consequently, the weak outlook caused the stock to tumble deep in the after-hours session.