Last quarter, it entered into an agreement with the Netherlands-based Solmate to make inroads into the Benelux region. By integrating Spend360’s analytics solution into its platform, it will be able to offer an enhanced spend management platform.īesides acquisitions, Coupa is also looking at partnerships. Besides its impressive technology, Coupa plans to leverage the acquisition for market expansion. By removing human dependency, Spend360’s offering helps reduce costs and improves operational efficiency. It is known for its machine learning-based solution to classify and normalize data in a format that can be used by finance and procurement departments of organizations. It set up show in 2011 and since then has processed spend data worth more than $1 trillion. Spend360 is another renowned player in the spend analytics space. Clearly, Coupa has a long way ahead.ĭuring the quarter, Coupa completed the acquisition of UK-based Spend360 International for an undisclosed amount. Coupa came a distant 7th with nearly 1% share. SAP, with its Ariba offering, was the leader in the segment with 22% market share in 2015. Spend management solutions is a segment of the worldwide procurement software market which is estimated to grow 2% annually to $5.4 billion in 2020. The Street had forecast a loss of $0.25 for the quarter and a loss of $0.81 for the year. Coupa expects a loss of $0.12-$0.17 per share for the quarter and a loss of $0.53-$0.58 per share for the year. The projections were ahead of the Street’s forecast. It forecast revenues between $167-$170 million for the full year. Revenues for the year grew 60% to $133.8 million and losses reduced from $46.2 million or $9.81 per share a year ago to $37.6 million or $1.88 per share.įor the current quarter, Coupa forecast revenues of at least $38 million. But the market wasn’t impressed.īy segment, revenues from subscriptions services grew 45% to $33.8 million and professional services revenues grew 36% to $4.18 million. It ended the quarter with a net loss of $6.6 million or $0.13 per share, significantly better than previous year’s net loss of $11.5 million or $2.18 per share. Last week, Coupa announced its fourth quarter results. But things haven’t looked so rosy since as investors begin to lose patience with its continued losses. The market was pleased with the listing and it sent the stock soaring. Last year, San Mateo-based Coupa (Nasdaq: COUP), a provider of cloud-based spend management firm, listed on the stock exchange.
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