Coupa Software Inc. (NASDAQ: COUP) reported revenue rose 17.8% year over year in its fiscal second quarter ended July 31. The San Mateo, California-based company provides business spend management software, including a contingent workforce vendor management system.
| (US$ thousands) | Q2 2023 | Q2 2022 | % change |
| Total revenue | $211,103 | $179,246 | 17.8% |
| Gross profit | $127,794 | $100,026 | 27.8% |
| Gross margin | 60.5% | 55.8% | |
| Net loss | ($70,598) | ($86,749) | nm |
Coupa reported subscription revenue rose 23.3% year over year to $192.7 million, a record for the company.
Guidance
Coupa forecast third-quarter revenue of between $211.0 million and $214.0 million. It forecast full-year revenue of between $838.0 million and $844.0 million.
Share price and market cap
Shares in Coupa were up 13.23% to $63.21 as of 12:21 p.m. Eastern time; they were 25.06% above their 52-week low, according to FT.com. The company had a market cap of $4.30 billion.