The United States Postal Service (USPS) is one of Coupa’s largest new customers, with an annual procurement spend of $12.9 billion.

Coupa has a mid-market presence, but generates 80% of its revenue from larger enterprise accounts. A typical implementation takes anywhere from three to eight months. As part of its go-to-market strategy, the company uses a vast partner network, which drove more than 80% of the FY’19 deployments. In FY’19, more than 100 customers went live on the Coupa platform. At recent prices, Coupa’s enterprise value of $5.67 billion is 17.3 times the FY’20 consensus revenue estimate. A new all-time high of $100 was reached in March. Investors are anticipating a guidance ramp again this year, as the latest FY’20 consensus revenue estimate of $327.7 million is above the high end of the company’s initial outlook.īoosted by the upbeat guidance for FY’20, Coupa shares have gained 52% YTD. Headed into FY’19, Coupa’s early guidance called for revenue growth of 22% at the midpoint, while actual growth came in fully 1,700 basis points higher. Odds are the initial top-line forecast is too conservative.

After delivering a surprise profit in the previous quarter, Coupa in FQ4 earned five cents a share versus the consensus of breakeven.įor FY’20, Coupa’s initial revenue guidance range of $325 million to $327 million (growth of 25.2% at the midpoint) came in well above the consensus estimate of $315 million. Subscription services revenue was up 45%, acceleration from growth of 42% in FQ3 and 39% in FQ2. In FQ4, total revenue of $74.9 million rose 39% and beat the consensus estimate by an impressive 10.6%. Fiscal Q4 was a record quarter for new annual contract value (ACV) as well as the largest quarter ever for renewals. Deferred revenue of $182.5 million rose 42%. The software provides customers with actionable insights that can lead to improved inventory management, smarter purchasing decisions and lower costs.Ĭoupa’s comprehensive solution set-covering everything from procurement and sourcing to invoicing and travel/expense management-is easy to use right out of the gate.Ĭoupa finished FY’19 on a strong note, with FQ4 billings up 51%. The Coupa platform analyzes large quantities of corporate transactional expense data, looking for spending patterns and areas of inefficiency.

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