Coupa Software program Stories Second Quarter Fiscal 2023 Monetary Outcomes

  • Report Quarterly Subscription Revenues of $193 Million, 23% Yr-Over-Yr Development
  • Report Quarterly Revenues of $211 Million, 18% Yr-Over-Yr Development
  • Quarterly Subscription Calculated Billings of $217 Million, 25% Yr-Over-Yr Development
  • Quarterly Working Money Flows and Adjusted Free Money Flows of $29 Million and $25 Million, Respectively
  • Declares Board of Administrators Approved $100 Million Share Repurchase Program

SAN MATEO, Calif., Sept. 6, 2022 /PRNewswire/ — Coupa Software program (NASDAQ: COUP) at this time introduced monetary outcomes for its second fiscal quarter ended July 31, 2022.

“We’re pleased with our outcomes this quarter. We delivered report revenues, sturdy development in our subscription calculated billings, and we proceed to ship sturdy money flows and profitability on a Non-GAAP foundation,” mentioned Rob Bernshteyn, chairman and chief government officer at Coupa. “We focus every little thing we do on our prospects. Our platform is constructed with them and round them. We outline our success by our prospects’ success. As illustrated by our outcomes, the Coupa BSM group is vibrant and powering enterprise transformation and development.”

Second Quarter Outcomes:

  • Whole revenues have been $211.1 million, a rise of 18% in comparison with the identical interval final 12 months. Subscription revenues have been $192.7 million, a rise of 23% in comparison with the identical interval final 12 months.
  • GAAP working loss was $63.6 million, in comparison with $54.3 million for a similar interval final 12 months. Non-GAAP working earnings was $24.0 million, in comparison with $26.7 million for a similar interval final 12 months.
  • GAAP web loss attributable to Coupa Software program Integrated was $75.3 million, in comparison with $91.5 million for a similar interval final 12 months. GAAP web loss per primary and diluted share attributable to Coupa Software program Integrated was $0.99, in comparison with $1.24 for a similar interval final 12 months. Non-GAAP web earnings attributable to Coupa Software program Integrated was $16.5 million, in comparison with $20.3 million for a similar interval final 12 months. Non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated was $0.20, in comparison with $0.26 for a similar interval final 12 months.
  • Working money flows and adjusted free money flows have been $29.1 million and $25.0 million, respectively.

See the part titled “Non-GAAP Monetary Measures” and the reconciliation tables under for vital info relating to the non-GAAP monetary measures utilized by Coupa.

Share Repurchase Program

Coupa introduced at this time that its Board of Administrators approved a share repurchase program of as much as $100 million of the Firm’s frequent inventory. Below this system, Coupa might buy shares once in a while via open market transactions in compliance with relevant securities legal guidelines. This system is at present set to run out on September 1, 2023. The timing, method, value and quantity of any repurchases, are decided by Coupa at its discretion and rely on quite a lot of components, together with authorized necessities, value and financial market circumstances. Any repurchases can be funded by out there money and money equivalents.

Enterprise Outlook:

The next forward-looking statements mirror Coupa’s expectations as of September 6, 2022.

Third quarter of fiscal 2023:

  • Whole revenues are anticipated to be $211.0 to $214.0 million.
  • Subscription revenues are anticipated to be $194.0 to $196.0 million.
  • Skilled companies and different revenues are anticipated to be roughly $17.0 to $18.0 million.
  • Non-GAAP earnings from operations is predicted to be $14.0 to $16.0 million.
  • Non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated is predicted to be $0.08 to $0.10 per share.
  • Diluted weighted common share rely is predicted to be roughly 87.5 million shares, assuming no shares are bought within the share repurchase program.

Full 12 months fiscal 2023:

  • Whole revenues are anticipated to be $838.0 to $844.0 million.
  • Subscription revenues are anticipated to be $766.0 to $771.0 million.
  • Skilled companies and different revenues are anticipated to be roughly $72.0 to $73.0 million.
  • Non-GAAP earnings from operations is predicted to be $62.5 to $68.5 million.
  • Non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated is predicted to be $0.37 to $0.44 per share.
  • Diluted weighted common share rely is predicted to be roughly 87.5 million shares, assuming no shares are bought within the share repurchase program.

Coupa has not reconciled its expectations for non-GAAP earnings from operations to GAAP loss from operations, or non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated to GAAP web loss per share attributable to Coupa Software program Integrated as a result of sure objects which are excluded from non-GAAP earnings from operations and non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated can’t be fairly calculated or predicted at the moment. Such exclusions encompass prices associated to stock-based compensation, amortization of acquired intangible belongings, amortization of debt issuance prices, achieve or loss on conversion of convertible senior notes, achieve or loss on non-marketable investments, the adjustment attributable to redeemable non-controlling pursuits, non-recurring earnings tax changes, and earnings tax results. The impact of these things could also be vital.

Latest Enterprise Highlights:

  • Welcomed many new prospects into the Coupa group in Q2, together with the next: Aditum Bio Administration Firm, LLC, AEye, Inc., Air Pressure Affiliation (Western Australian Division) Inc., Anduril Industries, Inc., BELLUS Well being, Cellares Company, ClickUp, Cockroach Labs, Collectors Universe, Inc., Corius Deutschland GmbH, Deutsche Glasfaser, Dock Tech, Ellipse Tasks, Fairlife, Flock Security, HealthEdge, IGEFA SE & Co. KG, L & O Immobilien GmbH, Locanabio, Inc., ML Holding GmbH & Co. KG, Nationwide Damage Insurance coverage Scheme, Nürnberger Lebensversicherung AG, Oasis Marina LLC, Planet Labs PBC, Royston LLC, Skyline Displays, Tatcha LLC, Tes International Holdings Direct Ltd., TO Holding GmbH & Co. KG, College of East London, Veho Tech, Inc., Venues NSW, Veterinary Emergency Group, VPLS, W.A.G. fee options, a.s., and ZOLAR GmbH
  • Grew footprint in Latin America with three new places of work in Mexico Metropolis, São Paulo and Bogotá
  • Acknowledged by Quick Firm as a Greatest Office for Innovators
  • Achieved international Nice Place to Work certification within the US, UK, Eire, Germany, and India
  • Launched international Govt Summit sequence, bringing the BSM group collectively for studying, networking, and business insights, with the inaugural Govt Summit in Singapore
  • Welcomed Kanika Soni, Tripadvisor Chief Industrial Officer, to our Board of Administrators
  • Welcomed useful resource alternate platform Rheaply to Coupa Ventures’ portfolio of investments
  • Revealed second annual Environmental, Social, and Governance (ESG) Report, debuting a brand new firm mission and imaginative and prescient
  • Achieved ISO 27701 and APEC PRP certification for information privateness program

Convention Name Info:

Coupa will host a convention name and reside webcast for analysts and traders at 4:30 p.m. Japanese time at this time.

The reside webcast can be accessible on Coupa’s investor relations web site at http://investors.coupa.com. A replay can be out there via the identical hyperlink.

Non-GAAP Monetary Measures:

Along with disclosing monetary measures ready in accordance with U.S. typically accepted accounting rules (GAAP), this press launch and the accompanying tables comprise sure non-GAAP monetary measures, together with non-GAAP working earnings, non-GAAP web earnings attributable to Coupa Software program Integrated, non-GAAP web earnings per primary and diluted share attributable to Coupa Software program Integrated, adjusted free money flows and adjusted free money flows margin. Coupa believes these non-GAAP measures are helpful in evaluating its working efficiency and Coupa’s administration frequently evaluations and makes use of these measures for enterprise planning and different functions.

Non-GAAP working earnings and non-GAAP web earnings attributable to Coupa Software program Integrated exclude sure objects from the corresponding GAAP measures, together with: stock-based compensation, amortization of acquired intangible belongings, amortization of debt issuance prices, achieve or loss on conversion of convertible senior notes, achieve or loss on non-marketable investments, the adjustment attributable to redeemable non-controlling pursuits, non-recurring earnings tax changes, and earnings tax results, and previous to the adoption of ASU 2020-06 on February 1, 2022, amortization of debt low cost prices. As well as, the weighted common diluted shares determine used to calculate non-GAAP web earnings per share attributable to Coupa Software program Integrated displays the anti-dilutive affect of the if-converted methodology associated to the convertible notes, if any.

Starting within the three months ended April 30, 2022, we make the most of a set long-term projected tax charge in our computation of the non-GAAP earnings tax provision to supply higher consistency throughout the reporting intervals. In projecting this long-term non-GAAP tax charge, we make the most of a three-year monetary projection that excludes the direct affect of stock-based compensation, amortization of acquired intangible belongings, and amortization of debt issuance prices. The projected charge considers different components similar to our present working construction, and present tax positions in numerous jurisdictions. Moreover, because of historic profitability on a non-GAAP foundation, there aren’t any valuation allowances recorded in opposition to the non-GAAP deferred tax belongings globally. We’ll periodically reevaluate the projected long-term tax charge, as obligatory, for vital occasions, based mostly on our ongoing evaluation of related tax regulation modifications, materials modifications within the forecasted geographic earnings combine, and any vital acquisitions.

Adjusted free money flows is outlined as web money offered by working actions, much less purchases of property and gear, and previous to the adoption of ASU 2020-06 on February 1, 2022, plus repayments of convertible senior notes attributable to debt low cost, plus one-time payout of legacy unvested fairness awards accelerated at the side of a enterprise mixture. Coupa has the power to settle conversions associated to its senior notes via using money, shares of its frequent inventory, or a mix of each, at its election. Adjusted free money stream margin is outlined as adjusted free money flows divided by whole revenues.

Coupa believes these non-GAAP measures are helpful to traders and different customers of its monetary info as a result of they supply a technique to measure and consider Coupa’s underlying working efficiency and the power of its core enterprise persistently throughout the intervals introduced. Coupa believes these non-GAAP measures are additionally helpful for evaluating its working efficiency to that of different firms in its business, as a result of they get rid of the results of sure objects that will range between firms for causes unrelated to their working efficiency. Coupa believes that adjusted free money flows additionally offers a helpful measure of the corporate’s capital power and liquidity, though it isn’t supposed to signify and shouldn’t be considered as the quantity of residual money stream out there for discretionary expenditures.

Coupa makes use of these non-GAAP measures at the side of GAAP measures as a part of its total evaluation of its efficiency and liquidity, together with the preparation of its annual working price range and quarterly forecasts, to guage the effectiveness of its enterprise methods, and to speak with its board of administrators regarding its monetary efficiency and liquidity. Coupa’s definitions of its non-GAAP measures might differ from these utilized by different firms for similarly-titled measures, and due to this fact comparability could also be restricted. As well as, different firms might not publish these or comparable metrics. Thus, Coupa’s non-GAAP measures ought to be thought-about along with, not as substitutes for, or in isolation from, the corporate’s GAAP outcomes.

Coupa encourages traders and others to evaluation its monetary info in its entirety, to not depend on any single monetary measure, and to view its non-GAAP measures at the side of GAAP monetary measures. As well as, Coupa compensates for the constraints of its non-GAAP monetary measures by offering a reconciliation of every non-GAAP measure to essentially the most straight comparable GAAP monetary measure. These reconciliations are included within the tables hooked up to this launch.

Ahead-Trying Statements:

This launch contains forward-looking statements. All statements aside from statements of historic information, together with the statements of administration and statements in “Enterprise Outlook,” are forward-looking statements. These forward-looking statements are based mostly on Coupa’s present expectations and projections about future occasions and tendencies that Coupa believes might have an effect on its monetary situation, outcomes of operations, technique, short- and long-term enterprise operations and targets, money flows, liquidity and monetary wants.

These forward-looking statements are topic to a lot of dangers, uncertainties and assumptions that will trigger precise outcomes to vary materially from these projected, together with, with out limitation: Coupa is topic to macroeconomic uncertainties pushed by inflation, rising rates of interest, the RussiaUkraine battle, and the COVID-19 pandemic; Coupa has a restricted working historical past at its present scale, which makes it troublesome to foretell its future working outcomes; Coupa might not be capable of handle its current fast development successfully; dangers associated to previous and future enterprise acquisitions, together with their integration with Coupa’s present enterprise mannequin, operations and tradition; if Coupa is unable to draw new prospects, the expansion of its revenues can be adversely affected; as a result of its platform is offered to giant enterprises with complicated working environments, Coupa encounters lengthy and unpredictable gross sales cycles; the markets by which Coupa participates are intensely aggressive; Coupa’s enterprise relies upon partly on its prospects renewing their subscriptions and buying further subscriptions; Coupa might not be profitable in increasing its gross sales efforts or creating widespread model consciousness in an economical method; dangers and liabilities associated to breach of its safety measures or unauthorized entry to buyer information; the affect of overseas forex alternate charges and international financial circumstances; dangers regarding servicing our debt; and the value, quantity and timing of any share repurchases.

These and different dangers and uncertainties that might have an effect on Coupa’s future outcomes are included below the captions “Threat Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations,” in Coupa’s quarterly report on Type 10-Q filed with the Securities and Alternate Fee (SEC) on June 6, 2022, which is on the market at traders.coupa.com and on the SEC’s web site at www.sec.gov. Additional info on potential dangers that might have an effect on precise outcomes can be included in different periodic filings Coupa makes with the SEC.

The forward-looking statements on this launch mirror Coupa’s expectations as of September 6, 2022. Coupa undertakes no obligation to replace publicly any forward-looking statements for any motive after the date of this launch to adapt these statements to precise outcomes or to modifications in its expectations.

About Coupa Software program

Coupa empowers firms all over the world with the visibility and management they should spend smarter and safer. To be taught extra about how Coupa may help you spend smarter, go to www.coupa.com. Learn extra on the Coupa Weblog or observe @Coupa on Twitter.

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in hundreds, besides per share quantities)

(unaudited)



Three Months Ended

July 31,


Six Months Ended

July 31,




2022


2021


2022


2021

Revenues:








Subscription

$         192,670


$         156,230


$     371,140


$     296,334

Skilled companies and different

18,433


23,016


36,334


49,841

Whole revenues

211,103


179,246


407,474


346,175

Value of revenues:








Subscription

60,808


51,398


118,937


102,423

Skilled companies and different

22,501


27,822


45,200


56,524

Whole value of revenues

83,309


79,220


164,137


158,947

Gross revenue

127,794


100,026


243,337


187,228

Working bills:








Analysis and growth

46,266


41,799


89,976


85,636

Gross sales and advertising and marketing

103,215


76,279


204,168


154,122

Basic and administrative

41,942


36,248


84,080


75,625

Whole working bills

191,423


154,326


378,224


315,383

Loss from operations

(63,629)


(54,300)


(134,887)


(128,155)

Curiosity expense

(3,619)


(30,621)


(7,095)


(59,724)

Different expense, web

(709)


(1,983)


(4,425)


(1,448)

Loss earlier than provision for (profit from) earnings taxes

(67,957)


(86,904)


(146,407)


(189,327)

Provision for (profit from) earnings taxes

2,641


(155)


5,392


(2,221)

Internet loss

(70,598)


(86,749)


(151,799)


(187,106)

Internet loss attributable to redeemable non-controlling pursuits

(462)


(517)


(666)


(517)

Adjustment attributable to redeemable non-controlling pursuits

5,133


5,235


5,609


5,235

Internet loss attributable to Coupa Software program Integrated

$          (75,269)


$          (91,467)


$   (156,742)


$   (191,824)

Internet loss per share, primary and diluted, attributable to Coupa Software program Integrated

$              (0.99)


$              (1.24)


$          (2.08)


$          (2.62)

Weighted-average variety of shares utilized in computing web loss per share, primary and diluted

75,669


73,526


75,429


73,200

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(in hundreds, besides per share quantities)

(unaudited)



July 31, 2022


January 31, 2022

Property




Present belongings:




Money and money equivalents

$         527,963


$         506,459

Marketable securities

281,370


223,032

Accounts receivable, web of allowances

219,522


226,191

Pay as you go bills and different present belongings

35,975


38,270

Deferred commissions, present portion

22,801


21,096

Whole present belongings

1,087,631


1,015,048

Property and gear, web

31,989


30,576

Deferred commissions, web of present portion

49,166


48,562

Goodwill

1,514,550


1,514,550

Intangible belongings, web

446,123


510,663

Working lease right-of-use belongings

37,341


42,659

Different belongings

29,077


31,121

Whole belongings

$      3,195,877


$      3,193,179

Liabilities, Redeemable Non-Controlling Pursuits, and Stockholders’ Fairness




Present liabilities:




Accounts payable

$              8,433


$              4,610

Accrued bills and different present liabilities

98,374


79,160

Deferred income, present portion

477,423


468,783

Present portion of convertible senior notes, web

1,747


1,639

Working lease liabilities, present portion

13,084


12,760

Whole present liabilities

599,061


566,952

Convertible senior notes, web

2,159,683


1,614,257

Deferred income, web of present portion

29,646


22,655

Working lease liabilities, web of present portion

24,857


31,172

Different liabilities

46,544


52,481

Whole liabilities

2,859,791


2,287,517

Redeemable non-controlling pursuits

18,775


12,084

Stockholders’ fairness:




Most well-liked inventory, $0.0001 par worth per share


Widespread inventory, $0.0001 par worth per share

8


7

Extra paid-in capital

1,154,891


1,778,840

Gathered different complete earnings

7,333


9,643

Gathered deficit

(844,921)


(894,912)

Whole stockholders’ fairness

317,311


893,578

Whole liabilities, redeemable non-controlling pursuits, and stockholders’ fairness

$      3,195,877


$      3,193,179

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in hundreds)

(unaudited)



Six Months Ended

July 31,



2022


2021

Money flows from working actions




Internet loss attributable to Coupa Software program Integrated

$          (156,742)


$          (191,824)

Internet loss and adjustment attributable to redeemable non-controlling pursuits

4,943


4,718

Internet loss

(151,799)


(187,106)

Changes to reconcile web loss to web money offered by working actions:




Depreciation and amortization

71,804


73,146

Amortization (accretion) of premium (low cost) on marketable securities, web

(721)


755

Amortization of deferred commissions

11,413


8,554

Amortization of debt low cost and issuance prices

3,596


56,262

Inventory-based compensation

108,224


94,792

Loss on conversion of convertible senior notes


129

Repayments of convertible senior notes attributable to debt low cost


(517)

Different

(1,581)


(3,176)

Modifications in working belongings and liabilities web of results from acquisitions:




Accounts receivable

6,414


30,444

Pay as you go bills and different present belongings

2,917


1,396

Different belongings

10,438


9,585

Deferred commissions

(13,804)


(13,394)

Accounts payable

4,146


(248)

Accrued bills and different liabilities

11,801


5,703

Deferred income

15,988


(3,432)

Internet money offered by working actions

78,836


72,893

Money flows from investing actions




Purchases of marketable securities

(152,349)


(72,392)

Maturities of marketable securities

88,586


69,523

Gross sales of marketable securities

4,597


83,630

Acquisitions, web of money acquired


(45,766)

Purchases of different investments

(2,000)


(7,500)

Purchases of property and gear

(8,241)


(6,662)

Internet money (utilized in) offered by investing actions

(69,407)


20,833

Money flows from financing actions




Funding from redeemable non-controlling pursuits

2,111


2,223

Repayments of convertible senior notes


(2,446)

Proceeds from the train of frequent inventory choices

959


4,727

Proceeds from issuance of frequent inventory for worker inventory buy plan

9,973


10,477

Internet money offered by financing actions

13,043


14,981

Results of overseas forex alternate charges on money, money equivalents, and restricted money

(1,075)


(41)

Internet improve in money, money equivalents, and restricted money

21,397


108,666

Money, money equivalents, and restricted money at starting of 12 months

510,339


327,589

Money, money equivalents, and restricted money at finish of interval

$           531,736


$           436,255

Reconciliation of money, money equivalents, and restricted money to the condensed consolidated stability sheets




Money and money equivalents

$           527,963


$           432,009

Restricted money included in different belongings

3,773


4,246

Whole money, money equivalents, and restricted money

$           531,736


$           436,255

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Monetary Measures

Three Months Ended July 31, 2022

(in hundreds, besides percentages and per share quantities)

(unaudited)



GAAP


Inventory-Based mostly

Compensation

Bills


Amortization of

Acquired

Intangible Property


Amortization 
of Debt
Issuance Prices


Different (2)


Earnings Tax
Results and
Changes (3)


Non-GAAP

Prices and bills:














Prices of subscription

$     60,808


$    (4,819)


$      (17,731)


$           —


$        —


$            —


$    38,258

Prices {of professional} companies and different

22,501


(5,375)


(1,505)





15,621

Gross revenue

60.5 %


4.8 %


9.1 %


0.0 %


0.0 %


0.0 %


74.5 %















Analysis and growth

46,266


(14,054)






32,212

Gross sales and advertising and marketing

103,215


(17,356)


(12,596)





73,263

Basic and administrative

41,942


(14,228)






27,714

Earnings (loss) from operations

(63,629)


55,832


31,832





24,035

Working margin

(30.1) %


26.4 %


15.1 %


0.0 %


0.0 %


0.0 %


11.4 %















Curiosity expense

(3,619)




1,831




(1,788)

Different expense, web

(709)







(709)

Earnings (loss) earlier than provision for (profit from) earnings taxes

(67,957)


55,832


31,832


1,831




21,538

Provision for (profit from) earnings taxes

2,641






2,875


5,516

Internet earnings (loss)

(70,598)


55,832


31,832


1,831



(2,875)


16,022

Internet loss attributable to non-controlling pursuits

(462)







(462)

Adjustment attributable to non-controlling pursuits

5,133





5,133



Internet earnings (loss) attributable to Coupa Software program Integrated

(75,269)


55,832


31,832


1,831


5,133


(2,875)


16,484















Internet earnings (loss) per share, primary, attributable to Coupa Software program Integrated (1)

$        (0.99)












$         0.22

Internet earnings (loss) per share, diluted, attributable to Coupa Software program Integrated (1)

$        (0.99)












$         0.20

(1)

GAAP web loss per share attributable to Coupa Software program Integrated is calculated based mostly upon 75,669 primary and diluted weighted-average shares of frequent inventory. Non-GAAP web earnings per share attributable to Coupa Software program Integrated is calculated based mostly upon 75,669 primary and 86,793 diluted weighted-average shares of frequent inventory. On account of our adoption of ASU 2020-06 on February 1, 2022, the corporate makes use of the if-converted methodology to calculate the non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated associated to the convertible notes. Roughly 9,738 shares associated to the convertible notes have been due to this fact included within the non-GAAP diluted share quantity, whereas the numerator used to compute this measure was elevated by $1.2 million for after-tax curiosity expense financial savings associated to our convertible notes.

(2)

Different consists of an adjustment attributable to redeemable non-controlling pursuits to its redemption quantity.

(3)

Throughout the three months ended July 31, 2022, the corporate utilized a long-term projected tax charge within the computation of the non-GAAP provision for earnings taxes to supply higher consistency throughout the interim reporting intervals.

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Monetary Measures

Three Months Ended July 31, 2021

(in hundreds, besides percentages and per share quantities)

(unaudited)



GAAP


Inventory-Based mostly

Compensation

Bills


Amortization of

Acquired

Intangible Property


Amortization of

Debt Low cost and

Issuance Prices


Different (2)


Non-GAAP

Prices and bills:












Prices of subscription

$         51,398


$          (3,596)


$        (14,525)


$                 —


$                —


$         33,277

Prices {of professional} companies and different

27,822


(4,357)


(5,852)




17,613

Gross revenue

55.8 %


4.4 %


11.4 %


0.0 %


0.0 %


71.6 %













Analysis and growth

41,799


(11,055)





30,744

Gross sales and advertising and marketing

76,279


(12,230)


(13,141)




50,908

Basic and administrative

36,248


(16,262)





19,986

Earnings (loss) from operations

(54,300)


47,500


33,518




26,718

Working margin

(30.3) %


26.5 %


18.7 %


0.0 %


0.0 %


14.9 %













Curiosity expense

(30,621)




28,872



(1,749)

Different expense, web

(1,983)






(1,983)

Earnings (loss) earlier than provision for (profit from) earnings taxes

(86,904)


47,500


33,518


28,872



22,986

Provision for (profit from) earnings taxes

(155)


769


1,889



746


3,249

Internet earnings (loss)

(86,749)


46,731


31,629


28,872


(746)


19,737

Internet loss attributable to non-controlling pursuits

(517)






(517)

Adjustment attributable to non-controlling pursuits

5,235





5,235


Internet earnings (loss) attributable to Coupa Software program Integrated

(91,467)


46,731


31,629


28,872


4,489


20,254













Internet earnings (loss) per share, primary, attributable to Coupa Software program Integrated (1)

$            (1.24)










$              0.28

Internet earnings (loss) per share, diluted, attributable to Coupa Software program Integrated (1)

$            (1.24)










$              0.26

(1)

GAAP web loss per share attributable to Coupa Software program Integrated is calculated based mostly upon 73,526 primary and diluted weighted-average shares of frequent inventory. Non-GAAP web earnings per share attributable to Coupa Software program Integrated is calculated based mostly upon 73,526 primary and 76,561 diluted weighted-average shares of frequent inventory. The corporate makes use of the treasury inventory methodology to calculate the non-GAAP diluted shares associated to the convertible notes which displays any anti-dilutive affect of the capped name transactions entered into in reference to the convertible notes.

(2)

Different consists of the removing of a one-time earnings tax profit related to the remeasurement of overseas deferred tax belongings and an adjustment attributable to non-controlling pursuits to its redemption quantity.

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Monetary Measures

Six Months Ended July 31, 2022

(in hundreds, besides percentages and per share quantities)

(unaudited)



GAAP


Inventory-Based mostly

Compensation

Bills


Amortization of

Acquired

Intangible Property


Amortization of

Debt Issuance
Prices


Different (2)


Earnings Tax
Results and
Changes (3)


Non-GAAP

Prices and bills:














Prices of subscription

$  118,937


$    (9,333)


$      (35,754)


$                 —


$            —


$             —


$  73,850

Prices {of professional} companies and different

45,200


(10,227)


(3,443)





31,530

Gross revenue

59.7 %


4.8 %


9.6 %


0.0 %


0.0 %


0.0 %


74.1 %















Analysis and growth

89,976


(26,820)






63,156

Gross sales and advertising and marketing

204,168


(33,290)


(25,342)





145,536

Basic and administrative

84,080


(28,554)






55,526

Earnings (loss) from operations

(134,887)


108,224


64,539





37,876

Working margin

(33.1) %


26.6 %


15.8 %


0.0 %


0.0 %


0.0 %


9.3 %















Curiosity expense

(7,095)




3,596




(3,499)

Different expense, web

(4,425)





(1,288)



(5,713)

Earnings (loss) earlier than provision for (profit from) earnings taxes

(146,407)


108,224


64,539


3,596


(1,288)



28,664

Provision for (profit from) earnings taxes

5,392






1,949


7,341

Internet earnings (loss)

(151,799)


108,224


64,539


3,596


(1,288)


(1,949)


21,323

Internet loss attributable to non-controlling pursuits

(666)







(666)

Adjustment attributable to non-controlling pursuits

5,609





5,609



Internet earnings (loss) attributable to Coupa Software program Integrated

(156,742)


108,224


64,539


3,596


4,321


(1,949)


21,989















Internet earnings (loss) per share, primary, attributable to Coupa Software program Integrated (1)

$       (2.08)












$      0.29

Internet earnings (loss) per share, diluted, attributable to Coupa Software program Integrated (1)

$       (2.08)












$      0.28

(1)

GAAP web loss per share attributable to Coupa Software program Integrated is calculated based mostly upon 75,429 primary and diluted weighted-average shares of frequent inventory. Non-GAAP web earnings per share attributable to Coupa Software program Integrated is calculated based mostly upon 75,429 primary and 86,664 diluted weighted-average shares of frequent inventory. On account of our adoption of ASU 2020-06 on February 1, 2022, the corporate makes use of the if-converted methodology to calculate the non-GAAP web earnings per diluted share attributable to Coupa Software program Integrated associated to the convertible notes. Roughly 9,738 shares associated to the convertible notes have been due to this fact included within the non-GAAP diluted share quantity, whereas the numerator used to compute this measure was elevated by $2.3 million for after-tax curiosity expense financial savings associated to our convertible notes.

(2)

Different consists of a achieve on non-marketable investments and an adjustment attributable to redeemable non-controlling pursuits to its redemption quantity.

(3)

Throughout the six months ended July 31, 2022, the corporate utilized a long-term projected tax charge within the computation of the non-GAAP provision for earnings taxes to supply higher consistency throughout the interim reporting intervals.

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP to Non-GAAP Monetary Measures

Six Months Ended July 31, 2021

(in hundreds, besides percentages and per share quantities)

(unaudited)



GAAP


Inventory-Based mostly

Compensation

Bills


Amortization of

Acquired

Intangible Property


Amortization of

Debt Low cost and

Issuance Prices


Loss on Conversion

 of Convertible
Senior

 Notes


Different (2)


Non-GAAP

Prices and bills:














Prices of subscription

$  102,423


$     (6,901)


$        (28,411)


$                 —


$                    —


$            —


$    67,111

Prices {of professional} companies and different

56,524


(8,255)


(12,374)





35,895

Gross revenue

54.1 %


4.4 %


11.8 %


0.0 %


0.0 %


0.0 %


70.2 %















Analysis and growth

85,636


(21,718)






63,918

Gross sales and advertising and marketing

154,122


(23,451)


(26,273)





104,398

Basic and administrative

75,625


(34,467)






41,158

Earnings (loss) from operations

(128,155)


94,792


67,058





33,695

Working margin

(37.0) %


27.4 %


19.4 %


0.0 %


0.0 %


0.0 %


9.7 %















Curiosity expense

(59,724)




56,262




(3,462)

Different expense, web

(1,448)





129



(1,319)

Earnings (loss) earlier than provision for (profit from) earnings taxes

(189,327)


94,792


67,058


56,262


129



28,914

Provision for (profit from) earnings taxes

(2,221)


1,817


3,818




746


4,160

Internet earnings (loss)

(187,106)


92,975


63,240


56,262


129


(746)


24,754

Internet loss attributable to non-controlling pursuits

(517)







(517)

Adjustment attributable to non-controlling pursuits

5,235






5,235


Internet earnings (loss) attributable to Coupa Software program Integrated

(191,824)


92,975


63,240


56,262


129


4,489


25,271















Internet earnings (loss) per share, primary, attributable to Coupa Software program Integrated (1)

$       (2.62)












$        0.35

Internet earnings (loss) per share, diluted, attributable to Coupa Software program Integrated (1)

$       (2.62)












$        0.33

(1)

GAAP web loss per share attributable to Coupa Software program Integrated is calculated based mostly upon 73,200 primary and diluted weighted-average shares of frequent inventory. Non-GAAP web earnings per share attributable to Coupa Software program Integrated is calculated based mostly upon 73,200 primary and 76,431 diluted weighted-average shares of frequent inventory. The corporate makes use of the treasury inventory methodology to calculate the non-GAAP diluted shares associated to the convertible notes which displays any anti-dilutive affect of the capped name transactions entered into in reference to the convertible notes.

(2)

Different consists of the removing of a one-time earnings tax profit related to the remeasurement of overseas deferred tax belongings and an adjustment attributable to non-controlling pursuits to its redemption quantity.

COUPA SOFTWARE INCORPORATED

Reconciliation of GAAP Money Flows from Operations to Adjusted Free Money Flows and Adjusted Free Money Flows Margin

(A Non-GAAP Monetary Measure)

(in hundreds, besides percentages)

(unaudited)



Three Months Ended July 31,


Six Months Ended July 31,


2022


2021


2022


2021

Internet money offered by working actions

$        29,094


$        40,811


$        78,836


$        72,893

Much less: purchases of property and gear

(4,128)


(3,908)


(8,241)


(6,662)

Add: repayments of convertible senior notes attributable to debt low cost




517

Adjusted free money flows

24,966


36,903


70,595


66,748

Divided by: whole revenues

$      211,103


$      179,246


$      407,474


$      346,175

Adjusted free money flows margin

11.8 %


20.6 %


17.3 %


19.3 %


Trailing Twelve Months Ended July 31,


2022


2021

Internet money offered by working actions

$      174,033


$      112,298

Much less: purchases of property and gear

(15,432)


(11,126)

Add: repayments of convertible senior notes attributable to debt low cost

821


1,589

Add: one-time payout of legacy unvested fairness awards accelerated at the side of a enterprise mixture


19,428

Adjusted free money flows

159,422


122,189

Divided by: whole revenues

$      786,588


$      642,683

Adjusted free money flows margin

20.3 %


19.0 %

SOURCE Coupa Software program

Coupa Software program Stories Second Quarter Fiscal 2023 Monetary Outcomes

https://www.prnewswire.com/news-releases/coupa-software-reports-second-quarter-fiscal-2023-financial-results-301618598.html