Coupa Software Reports Fourth Quarter & full Year Fiscal 2022 Financial Results
Mar 15, 2022 By MarketDepth
Coupa Software (NASDAQ: COUP) reported financial results for its fourth quarter and fiscal year ended January 31st, 2022. For the fourth quarter, revenues rose USD 193.3 Million, a rise of 18% compared to the same period last year. Subscription revenues amounted to USD 173 Million, a 28% rise compared to the same period last year. Operating cash flows and adjusted free cash flows netted a positive USD 64.2 Million and USD 60.6 Million.
34% Increase in Revenue
For fiscal year 2022, total revenues amounted to USD 725.3 Million, a 34% increase compared to the previous year. Subscription revenues reached USD 634 Million, a 35% rise compared to 2021.
“We finished the fiscal year strong, delivering record revenue and free cash flow results in the fourth quarter. During Fiscal ’22, we grew new business in excess of 60%, which we define as new recurring revenue from new customer logos and add-on transactions. That growth was driven by strength in our core business, coupled with momentum in our integration of acquired assets. Our customers continue to realize meaningful value and reach new levels of success with Coupa’s all-in-one Business Spend Management platform. As the clear leader in Business Spend Management, we’re tightly aligned with our community to bring back-office digital transformation to the forefront, a journey that’s only just beginning for many companies.”Rob Bernshteyn, chairman and chief executive officer at Coupa
Coupa also announces today that Todd Ford, its President, Finance & Operations, will transition from his current executive position to a newly created advisory role of President & CFO, Emeritus.
“I want to thank Todd for his tremendous contributions at Coupa over the past seven years. He is an incredible leader at Coupa and partner to me. We are fortunate that Todd has developed and supported senior leaders in our Finance organization to succeed him, and with Todd continuing his transition as an advisor for an extended period, we expect to have a very smooth transition.”Rob Bernshteyn, chairman and chief executive officer at Coupa