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Coupa Software (NASDAQ:COUP) shares rose more than 14% after-hours following the company’s reported Q2 results, with EPS of $0.20 coming in better than the consensus estimate of $0.09.
Revenue grew 18% year-over-year to $211 million, compared to the consensus estimate of $203.83 million. Subscription revenue grew 23% year-over-year to $192.7 million.
“We’re proud of our results this quarter. We delivered record revenues, strong growth in our subscription calculated billings, and we continue to deliver strong cash flows and profitability on a Non-GAAP basis,” said Rob Bernshteyn, chairman and CEO of Coupa.
The company expects Q3/23 EPS to be in the range of $0.08-$0.10, compared to the consensus of $0.06, and revenue in the range of $211-214 million, compared to the consensus of $214 million.
For the full 2023-year, the company expects EPS in the range of $0.37-$0.44, compared to the consensus of $0.26, and revenue in the range of $838-844 million, compared to the consensus of $840.3 million.
The company also announced that its Board of Directors authorized a share repurchase program of up to $100 million.
