Coupa Software shares slumped over 30% in premarket trading.
The company delivered a net loss of $96 million in the quarter, with earnings before certain costs such as stock compensation coming to 19 cents per share. Revenue for the period rose 18% from a year ago, to $193.3 million. That was better than expected, since Wall Street was looking for earnings of just 5 cents per share on sales of $186.2 million.
Coupa said its fourth-quarter subscription revenue came to $173 million, up 28%, while its billings for the period were $318.5 million, up 18%.
Coupa also reported its full-year results. For fiscal 2022 it generated total revenue of $725.3 million, up 34% from a year ago. That meant the company delivered a net loss for the year of $379 million.
Except for the large losses, it was a strong performance, but any optimism investors may have had quickly evaporated as the company offered its guidance for the next full year. Coupa said it expects fiscal 2023 revenue of $836 million to $840 million, with earnings per share of 15 to 19 cents. That was way lower than hoped, with Wall Street having earlier forecast fiscal 2023 revenue of $876.4 million and earnings of 73 cents per share.