By Wallace Witkowski
Coupa Software Inc. shares dropped in the extended session Monday after the business software company’s full-year outlook fell well short of Wall Street expectations.
Coupa /zigman2/quotes/209884077/composite COUP +0.37% shares plummeted more than 25% after hours, following a 9.6% fall in the regular session to close at $89.82.
While Coupa forecast adjusted earnings of 3 cents to 6 cents a share on revenue of $189 million to $191 million for the first quarter, the company estimated adjusted earnings of 15 cents to 19 cents a share on revenue of $836 million to $840 million for the year.
Analysts surveyed by FactSet had estimated 5 cents a share on revenue of $196.1 million for the first quarter, and 73 cents a share on revenue of $876.4 million for the year.
The company reported a fourth-quarter loss of $96 million, or $1.29 a share, compared with $61.4 million, or 85 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 19 cents a share, compared with 17 cents a share in the year-ago period.
Revenue rose to $193.3 million from $163.5 million in the year-ago quarter.
Analysts had forecast 5 cents a share on revenue of $186.2 million.