Coupa Software Incorporated (NASDAQ:COUP) reported its Q1 earnings results, with EPS coming in at $0.08, above the Street estimate of $0.05. Revenue came in at $196 million, compared to the Street estimate of $190.63 million.
Positively, management introduced subscription billings guidance and is exercising good cost management. This is offset by a more back-end loaded full 2023-year for revenue than anticipated before Q1 to reflect Europe softening and negative FX, and sub-20% revenue growth targets.
The company expects Q2 EPS to range from $0.07 to $0.10, compared to the Street estimate of $0.05. Q2 revenue is expected in the range of $202-$205 million, compared to the Street estimate of $205 million.