Coupa Software Reports Third Quarter Fiscal 2021 Financial Results

SAN MATEO, Calif., Dec. 7, 2020 /PRNewswire/ -- Coupa Software COUP today announced financial results for its third fiscal quarter ended October 31, 2020.

"We were very pleased to deliver over 30% year-over-year billings growth, as well as another quarter of record revenue," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "As we approach the end of the year with a focus on resilience and long-term market dominance, we continue to be assertive in expanding our comprehensive Business Spend Management platform to address all spend, unlocking value and profitability for the ever-growing set of customers in our community."

Chief Revenue Officer Steven Winter will be retiring from his executive position at the end of the company's 2021 fiscal year.  Rob Glenn, currently Coupa's SVP Americas, will be promoted and will be in charge of all global sales, effective February 1, 2021, and will report directly to Rob Bernshteyn, Coupa's CEO.  Mr. Winter will remain employed in an advisory role during fiscal 2022.   

Third Quarter Results:

  • Total revenues were $133.0 million, an increase of 31% compared to the same period last year. Subscription revenues were $118.1 million, an increase of 31% compared to the same period last year.



  • GAAP operating loss was $33.6 million, compared to a GAAP operating loss of $16.9 million for the same period last year. Non-GAAP operating income was $14.3 million, compared to a non-GAAP operating income of $11.6 million for the same period last year.



  • GAAP net loss was $60.8 million, compared to a GAAP net loss of $26.3 million for the same period last year. GAAP net loss per basic and diluted share was $0.88, compared to a GAAP net loss per basic and diluted share of $0.42 for the same period last year. Non-GAAP net income was $13.0 million, compared to a non-GAAP net income of $14.2 million for the same period last year. Non-GAAP net income per diluted share was $0.18, compared to non-GAAP net income per diluted share of $0.20 for the same period last year.



  • Operating cash flows and adjusted free cash flows were positive $19.0 million and $17.3 million, respectively.

See the section titled "Non-GAAP Financial Measures" and the reconciliation tables below for important information regarding the non-GAAP measures used by Coupa.

Business Outlook:

The following forward-looking statements reflect Coupa's expectations as of December 7, 2020, and include the expected impact from the LLamasoft acquisition.

Fourth quarter of fiscal 2021:

  • Total revenues are expected to be $145.0 to $146.0 million.



  • Subscription revenues are expected to be $124.5 to $125.5 million.



  • Professional services and other revenues are expected to be approximately $20.5 million.



  • Non-GAAP loss from operations is expected to be $6.0 to $8.0 million.



  • Non-GAAP net loss per basic and diluted share is expected to be $0.11 to $0.13 per share.



  • Basic and diluted weighted average share count is expected to be approximately 72.0 million shares.

Full year fiscal 2021:

  • Total revenues are expected to be $523.0 to $524.0 million.



  • Non-GAAP income from operations is expected to be $34.0 to $36.0 million.



  • Non-GAAP net income per diluted share is expected to be $0.47 to $0.49 per share.



  • Diluted weighted average share count is expected to be approximately 72.5 million shares.

Coupa has not reconciled its expectations for non-GAAP income or loss from operations to GAAP loss from operations, or non-GAAP net income or loss per share to GAAP net loss per share because certain items excluded from non-GAAP income or loss from operations and non-GAAP net income or loss, such as charges related to stock-based compensation expenses, amortization of acquired intangible assets, the change in fair value of contingent consideration related to acquisition earnout payments, amortization of debt discount and issuance costs, gain or loss on conversion of convertible senior notes, and related tax effects, including non-recurring income tax adjustments, cannot be reasonably calculated or predicted at this time. In addition, the effect of the anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes cannot be reasonably calculated or predicted at this time. The effect of these items may be significant.

Recent Business Highlights:

  • Welcomed many new customers into the Coupa community in Q3, including the following: ADB Companies, Akzo Nobel, Casey's General Stores, Damm, DHL Global Forwarding LATAM, Downer EDI Services, Elevate Textiles, Flender, GIS International, GlobalLogic, Ibstock Brick, iCapital Network, Immunovant, Interroll, Kodiak Sciences, Kura Oncology, Latchable, LKAB, Mayne Pharma, miR Scientific, OES Equipment, Ovid Therapeutics, Pilot Freight Services, SafetyCulture, Sam's Mart, Solomon Telekom, Turo, Unicharm, United Safety and Survivability, Uniting Care – Queensland, University of Bristol, Venture Global, Welbilt, and ZoomInfo.



  • Acquired AI-powered supply chain design and planning leader, LLamasoft, in November 2020.



  • Appointed Michelle Brennan to the Board of Directors.



  • Smarter Together Webinar discussed how communities will shape the next revolution in business.



  • Expanded partnership with American Express to bring Virtual Card payments to the US.



  • Named a Leader in the 2020 Gartner Magic Quadrant for Procure-to-Pay suites for the fifth consecutive time.

Conference Call Information:

Coupa will host a conference call and live webcast for analysts and investors at 4:30 p.m. Eastern time today.

The live webcast will be accessible on Coupa's investor relations website at http://investors.coupa.com. A replay will be available through the same link.

Non-GAAP Financial Measures:

In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures, including non-GAAP operating income, non-GAAP net income and adjusted free cash flows. Coupa believes these non-GAAP measures are useful in evaluating its operating performance, and Coupa's management regularly reviews and uses these measures for business planning and other purposes.

Non-GAAP operating income and non-GAAP net income exclude certain items from the corresponding GAAP measures, including: stock-based compensation expense; amortization of acquired intangible assets; the change in fair value of contingent consideration related to acquisition earnout payments; amortization of debt discount and issuance costs; gain or loss on conversion of convertible senior notes; and related tax effects, including non-recurring income tax adjustments. In addition, the weighted average diluted shares figure used to calculate non-GAAP net income per share reflects the anti-dilutive impact of the capped call transactions entered into in connection with the company's offerings of convertible notes.

Adjusted free cash flows is defined as net cash provided by operating activities, less purchases of property and equipment, plus repayments of convertible senior notes attributable to debt discount. Coupa has the ability to settle obligations related to its senior notes through the use of cash, shares of its common stock, or a combination of both, at its election.

Coupa believes these non-GAAP measures are useful to investors and other users of its financial information because they provide a way to measure and evaluate Coupa's underlying operating performance and the strength of its core business consistently across the periods presented. Coupa believes these non-GAAP measures are also useful for comparing its operating performance to that of other companies in its industry, because they eliminate the effects of certain items that may vary between companies for reasons unrelated to their operating performance. Coupa believes that adjusted free cash flows also provides a useful measure of the company's capital strength and liquidity, although it is not intended and should not be viewed as the amount of residual cash flow available for discretionary expenditures.

Coupa uses these non-GAAP measures in conjunction with GAAP measures as part of its overall assessment of its performance and liquidity, including the preparation of its annual operating budget and quarterly forecasts, to evaluate the effectiveness of its business strategies, and to communicate with its board of directors concerning its financial performance and liquidity. Coupa's definitions of its non-GAAP measures may differ from those used by other companies for similarly-titled measures, and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, Coupa's non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, the company's GAAP results.

Coupa encourages investors and others to review its financial information in its entirety, not to rely on any single financial measure and to view its non-GAAP measures in conjunction with GAAP financial measures. In addition, Coupa compensates for the limitations of its non-GAAP financial measures by providing a reconciliation of each non-GAAP measure to the most directly comparable GAAP financial measure. These reconciliations are included in the tables attached to this release.

Forward-Looking Statements:

This release includes forward-looking statements. All statements other than statements of historical facts, including the statements of management and statements in "Business Outlook," are forward-looking statements. These forward-looking statements are based on Coupa's current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.

These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including: the uncertain impact of the COVID-19 pandemic; Coupa has a limited operating history at its current scale, which makes it difficult to predict its future operating results; if Coupa fails to manage its recent rapid growth effectively, Coupa may be unable to execute its business plan, maintain high levels of service, or adequately address competitive challenges; the impact of acquisitions on its business, such as integration issues, assumption of unknown or unforeseen liabilities and ability to retain customers; if Coupa is unable to attract new customers, the growth of its revenues will be adversely affected; because its platform is sold to large enterprises with complex operating environments, Coupa encounters long and unpredictable sales cycles; the markets in which Coupa participates are intensely competitive; Coupa's business depends in part on its customers renewing their subscriptions and purchasing additional subscriptions; if Coupa fails to develop widespread brand awareness cost-effectively, its business may suffer; risks and liabilities related to breach of its security measures or unauthorized access to customer data; and the impact of foreign currency exchange rates and global economic conditions.

These and other risks and uncertainties that could affect Coupa's future results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in Coupa's quarterly report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on September 9, 2020, which is available at investors.coupa.com and on the SEC's website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other periodic filings Coupa makes with the SEC.

The forward-looking statements in this release reflect Coupa's expectations as of December 7, 2020. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in its expectations.

About Coupa Software

Coupa empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.

 

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)





Three Months Ended

October 31,



Nine Months Ended

October 31,







2020



2019



2020



2019

Revenues:















Subscription

$

118,083





$

90,175





$

335,399





$

246,614



Professional services and other

14,881





11,609





42,700





31,653



Total revenues

132,964





101,784





378,099





278,267



Cost of revenues:















Subscription

36,528





23,752





99,335





63,217



Professional services and other

14,259





13,542





42,729





35,896



Total cost of revenues

50,787





37,294





142,064





99,113



Gross profit

82,177





64,490





236,035





179,154



Operating expenses:















Research and development

30,528





23,460





87,459





67,838



Sales and marketing

53,204





39,145





149,831





112,575



General and administrative

32,092





18,830





69,941





56,297



Total operating expenses

115,824





81,435





307,231





236,710



Loss from operations

(33,647)





(16,945)





(71,196)





(57,556)



Interest expense

(29,308)





(13,188)





(61,820)





(24,874)



Interest income and other, net

746





4,076





8,833





6,479



Loss before provision for (benefit from) income taxes

(62,209)





(26,057)





(124,183)





(75,951)



Provision for (benefit from) income taxes

(1,411)





260





(5,453)





(9,172)



Net loss

$

(60,798)





$

(26,317)





$

(118,730)





$

(66,779)



Net loss per share, basic and diluted

$

(0.88)





$

(0.42)





$

(1.76)





$

(1.08)



Weighted-average number of shares used in computing net loss per

   share, basic and diluted

68,941





63,057





67,349





61,973



 

 

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)





October 31,

2020



January 31,

2020

Assets







Current assets:







Cash and cash equivalents

$

1,251,006





$

268,045



Marketable securities

103,134





499,160



Accounts receivable, net of allowances

98,301





118,508



Prepaid expenses and other current assets

33,553





31,636



Deferred commissions, current portion

13,384





11,982



Total current assets

1,499,378





929,331



Property and equipment, net

23,963





18,802



Deferred commissions, net of current portion

30,775





30,921



Goodwill

544,391





442,112



Intangible assets, net

145,511





128,660



Operating lease right-of-use assets

29,689





32,026



Other assets

24,762





12,221



Total assets

$

2,298,469





$

1,594,073



Liabilities, Temporary Equity and Stockholders' Equity







Current liabilities:







Accounts payable

$

2,447





$

3,517



Accrued expenses and other current liabilities

78,377





54,245



Deferred revenue, current portion

250,680





257,692



Current portion of convertible senior notes, net

600,062





187,115



Operating lease liabilities, current portion

8,794





8,199



Total current liabilities

940,360





510,768



Convertible senior notes, net

879,840





562,612



Deferred revenue, net of current portion

5,245





4,091



Operating lease liabilities, net of current portion

22,436





25,490



Other liabilities

37,589





28,620



Total liabilities

1,885,470





1,131,581



Temporary equity

185





16,835



Stockholders' equity:







Preferred stock, $0.0001 par value per share







Common stock, $0.0001 par value per share

7





7



Additional paid-in capital

872,200





790,468



Accumulated other comprehensive income

5,026





871



Accumulated deficit

(464,419)





(345,689)



Total stockholders' equity

412,814





445,657



Total liabilities, temporary equity and stockholders' equity

$

2,298,469





$

1,594,073



 

 

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)





Nine Months Ended

October 31,





2020



2019

Cash flows from operating activities







Net loss

$

(118,730)





$

(66,779)



Adjustments to reconcile net loss to net cash provided by operating activities:







Depreciation and amortization

36,529





19,165



Amortization of premium on marketable securities, net

869





374



Amortization of deferred commissions

10,102





6,675



Amortization of debt discount and issuance costs

58,727





23,350



Stock-based compensation

94,851





60,068



Gain on conversion of convertible senior notes

(3,166)







Repayments of convertible senior notes attributable to debt discount

(27,208)







Other

3,923





(637)



Changes in operating assets and liabilities net of effects from acquisitions:







Accounts receivable

22,519





23,855



Prepaid expenses and other current assets

1,591





(9,839)



Other assets

(2,730)





(2,998)



Deferred commissions

(11,355)





(15,491)



Accounts payable

(1,435)





(4,126)



Accrued expenses and other liabilities

4,941





6,895



Deferred revenue

(11,630)





5,365



Net cash provided by operating activities

57,798





45,877



Cash flows from investing activities







Purchases of marketable securities

(788,047)





(318,759)



Maturities of marketable securities

351,973





44,796



Sale of marketable securities

830,125





199,314



Acquisitions, net of cash acquired

(94,121)





(208,505)



Purchases of property and equipment

(9,559)





(9,862)



Net cash provided by (used in) investing activities

290,371





(293,016)



Cash flows from financing activities







Proceeds from issuance of convertible senior notes, net of issuance costs

1,355,066





786,157



Purchase of capped calls

(192,786)





(118,738)



Repayments of convertible senior notes

(554,244)







Proceeds from the exercise of common stock options

14,425





14,095



Proceeds from issuance of common stock for employee stock purchase plan

15,631





11,455



Net cash provided by financing activities

638,092





692,969



Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash

128







Net increase in cash, cash equivalents, and restricted cash

986,389





445,830



Cash, cash equivalents, and restricted cash at beginning of year

268,280





141,319



Cash, cash equivalents, and restricted cash at end of period

$

1,254,669





$

587,149



Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated

   balance sheets







Cash and cash equivalents

$

1,251,006





$

587,029



Restricted cash included in other assets

3,663





120



Total cash, cash equivalents, and restricted cash

$

1,254,669





$

587,149





 

 

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Financial Measures

Three Months Ended October 31, 2020

(in thousands, except percentages and per share amounts)

(unaudited)





GAAP



Stock-Based

Compensation

Expenses



Amortization of

Acquired

Intangible Assets



Amortization of

Debt Discount and

Issuance Costs



Loss on

Conversion of

Convertible

Senior Notes



Non-GAAP

Costs and expenses:























Costs of subscription

$

36,528





$

(2,836)





$

(8,212)





$





$





$

25,480



Costs of professional services and other

14,259





(2,939)





(200)













11,120



Gross profit

61.8

%



4.3

%



6.3

%



0.0

%



0.0

%



72.5

%

























Research and development

30,528





(7,691)

















22,837



Sales and marketing

53,204





(9,790)





(2,698)













40,716



General and administrative

32,092





(13,555)

















18,537



Income (loss) from operations

(33,647)





36,811





11,110













14,274



Operating margin

(25.3)

%



27.7

%



8.4

%



0.0

%



0.0

%



10.7

%

























Interest expense

(29,308)













27,370









(1,938)



Interest income and other, net

746

















36





782



Income (loss) before provision for (benefit from)

income taxes

(62,209)





36,811





11,110





27,370





36





13,118



Provision for (benefit from) income taxes

(1,411)





290





(163)





1,376









92



Net income (loss)

(60,798)





36,521





11,273





25,994





36





13,026



























Net income (loss) per share, basic (1)

$

(0.88)





















$

0.19



Net income (loss) per share, diluted (1)

$

(0.88)





















$

0.18







(1)

GAAP net loss per share is calculated based upon 68,941 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon

68,941 basic and 73,766 diluted weighted-average shares of common stock. The company uses the treasury stock method to calculate the non-GAAP diluted shares related to the

convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.

 

 

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Financial Measures

Three Months Ended October 31, 2019

(in thousands, except percentages and per share amounts)

(unaudited)





GAAP



Stock-Based

Compensation

Expenses



Amortization of

Acquired

Intangible Assets



Amortization of

Debt Discount and

Issuance Costs



Non-GAAP

Costs and expenses:



















Costs of subscription

$

23,752





$

(1,886)





$

(4,654)





$





$

17,212



Costs of professional services and other

13,542





(2,113)





(200)









11,229



Gross profit

63.4

%



3.9

%



4.8

%



0.0

%



72.1

%





















Research and development

23,460





(5,517)













17,943



Sales and marketing

39,145





(6,135)





(1,686)









31,324



General and administrative

18,830





(6,304)













12,526



Income (loss) from operations

(16,945)





21,955





6,540









11,550



Operating margin

(16.6)

%



21.6

%



6.4

%



0.0

%



11.3

%





















Interest expense

(13,188)













12,352





(836)



Interest income and other, net

4,076

















4,076



Income (loss) before provision for (benefit from) income taxes

(26,057)





21,955





6,540





12,352





14,790



Provision for (benefit from) income taxes

260





489





(123)









626



Net income (loss)

(26,317)





21,466





6,663





12,352





14,164























Net income (loss) per share, basic (1)

$

(0.42)

















$

0.22



Net income (loss) per share, diluted (1)

$

(0.42)

















$

0.20







(1)

GAAP net loss per share is calculated based upon 63,057 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon

63,057 basic and 71,687 diluted weighted-average shares of common stock. The company uses the treasury stock method to calculate the non-GAAP diluted shares related to the

convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.

 

 

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Financial Measures

Nine Months Ended October 31, 2020

(in thousands, except percentages and per share amounts)

(unaudited)





GAAP



Stock-Based

Compensation

Expenses



Amortization of

Acquired

Intangible Assets



Change in Fair

Value of

Contingent

Consideration

Liability



Amortization of

Debt Discount and

Issuance Costs



Gain on

Conversion of

Convertible

Senior Notes



Other

Expenses (2)



Non-GAAP

Costs and expenses:































Costs of subscription

$

99,335





$

(7,641)





$

(22,370)





$





$





$





$





$

69,324



Costs of professional services

and other

42,729





(8,303)





(600)





















33,826



Gross profit

62.4

%



4.2

%



6.1

%



0.0

%



0.0

%



0.0

%



0.0

%



72.7

%

































Research and development

87,459





(21,131)

























66,328



Sales and marketing

149,831





(26,558)





(7,368)





















115,905



General and administrative

69,941





(31,218)









12,500

















51,223



Income (loss) from operations

(71,196)





94,851





30,338





(12,500)

















41,493



Operating margin

(18.8)

%



25.1

%



8.0

%



(3.3)

%



0.0

%



0.0

%



0.0

%



11.0

%

































Interest expense

(61,820)

















58,727













(3,093)



Interest income and other, net

8,833





















(3,166)









5,667



Income (loss) before provision for

(benefit from) income

taxes

(124,183)





94,851





30,338





(12,500)





58,727





(3,166)









44,067



Provision for (benefit from) income

taxes

(5,453)





4,321





(315)









2,485









310





1,348



Net income (loss)

(118,730)





90,530





30,653





(12,500)





56,242





(3,166)





(310)





42,719



































Net income (loss) per share, basic (1)

$

(1.76)





























$

0.63



Net income (loss) per share, diluted (1)

$

(1.76)





























$

0.59







(1)

GAAP net loss per share is calculated based upon 67,349 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon

67,349 basic and 71,854 diluted weighted-average shares of common stock. The company uses the treasury stock method to calculate the non-GAAP diluted shares related to the

convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.

(2)

Other expenses consists of the release of valuation allowances against deferred tax assets.

 

 

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Financial Measures

Nine Months Ended October 31, 2019

(in thousands, except percentages and per share amounts)

(unaudited)





GAAP



Stock-Based

Compensation

Expenses



Amortization of

Acquired

Intangible Assets



Amortization of

Debt Discount and

Issuance Costs



Other

Expenses (2)



Non-GAAP

Costs and expenses:























Costs of subscription

$

63,217





$

(5,045)





$

(11,535)





$





$





$

46,637



Costs of professional services and other

35,896





(5,581)





(200)













30,115



Gross profit

64.4

%



3.8

%



4.2

%



0.0

%



0.0

%



72.4

%

























Research and development

67,838





(14,640)

















53,198



Sales and marketing

112,575





(17,034)





(4,342)













91,199



General and administrative

56,297





(17,768)

















38,529



Income (loss) from operations

(57,556)





60,068





16,077













18,589



Operating margin

(20.7)

%



21.6

%



5.8

%



0.0

%



0.0

%



6.7

%

























Interest expense

(24,874)













23,350









(1,524)



Interest income and other, net

6,479





















6,479



Income (loss) before provision for (benefit from) income

taxes

(75,951)





60,068





16,077





23,350









23,544



Provision for (benefit from) income taxes

(9,172)





1,797





(369)









9,671





1,927



Net income (loss)

(66,779)





58,271





16,446





23,350





(9,671)





21,617



























Net income (loss) per share, basic (1)

$

(1.08)





















$

0.35



Net income (loss) per share, diluted (1)

$

(1.08)





















$

0.31







(1)

GAAP net loss per share is calculated based upon 61,973 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon

61,973 basic and 69,856 diluted weighted-average shares of common stock. The company uses the treasury stock method to calculate the non-GAAP diluted shares related to the

convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.

(2)

Other expenses consists of the release of a valuation allowance against deferred tax assets.

 

 

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP Cash Flows from Operations to Adjusted Free Cash Flows

(A Non-GAAP Financial Measure)

(in thousands)

(unaudited)







Three Months Ended October 31,



Nine Months Ended October 31,





2020



2019



2020



2019

Net cash provided by operating activities



$

19,001





$

25,832





$

57,798





$

45,877



Less: purchases of property and equipment



(2,531)





(3,689)





(9,559)





(9,862)



Add: repayments of convertible senior notes attributable to debt discount



872









27,208







Adjusted free cash flows



$

17,342





$

22,143





$

75,447





$

36,015



 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/coupa-software-reports-third-quarter-fiscal-2021-financial-results-301187709.html

SOURCE Coupa Software

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