Coupa Software (COUP) saw its loss narrow to $10.04 million, or $0.20 a share for the quarter ended Apr. 30, 2017. In the previous year period, the company reported a loss of $11.87 million, or $2.11 a share. On the other hand, adjusted net loss for the quarter narrowed to $4.45 million, or $0.09 a share from a loss of $9.86 million or $1.76 a share, a year ago. Revenue during the quarter surged 40.96 percent to $41.14 million from $29.18 million in the previous year period. Gross margin for the quarter expanded 837 basis points over the previous year period to 67.19 percent. Operating margin for the quarter stood at negative 25.25 percent as compared to a negative 41.34 percent for the previous year period.
Operating loss for the quarter was $10.39 million, compared with an operating loss of $12.06 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $4.62 million compared to operating loss of $10.01 million in prior year period.
"We launched fiscal 2018 by delivering strong financial results in Q1, highlighted by 41% year-over-year revenue growth and positive operating cash flows," said Rob Bernshteyn, chief executive officer of Coupa. "We completed a successful follow-on offering and we also executed on a strategic acquisition of Trade Extensions, a robust sourcing solution for some of the world's largest brands. More recently, we held our largest, and best ever, Coupa Inspire '17 user conference, where we announced the availability of Coupa Release 18, our second major release of the calendar year."
For the second-quarter 2018, Coupa Software forecasts revenue to be in the range of $41.30 million to $41.80 million. The company forecasts adjusted operating loss to be in the range of $9 million to $10 million. On an adjusted basis, the company expects diluted loss per share to be in the range of $0.18 to $0.20.
For fiscal year 2018, Coupa Software forecasts revenue to be in the range of $172 million to $175 million. The company forecasts adjusted operating loss to be in the range of $25 million to $27 million. The company expects diluted loss per share to be in the range of $0.49 to $0.53 on adjusted basis.
Operating cash flow turns positive
Coupa Software has generated cash of $7.16 million from operating activities during the quarter as against cash outgo of $10.23 million in the last year period. The company has spent $1.35 million cash to meet investing activities during the quarter as against cash outgo of $1.39 million in the last year period.
Cash flow from financing activities was $30.59 million for the quarter as against cash outgo of $1.22 million in the last year period.
Cash and cash equivalents stood at $238.12 million as on Apr. 30, 2017, up 199.47 percent or $158.61 million from $79.51 million on Apr. 30, 2016.
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