Shares of Coupa Software Inc. COUP, -6.23% rallied nearly 10% in the extended session Tuesday after the company swung to a surprise adjusted profit in its fiscal fourth quarter and reported quarterly sales above Wall Street expectations. Coupa said it lost $61.4 million, or 85 cents a share, in the quarter, compared with a loss of $24.1 million, or 38 cents a share, for the same period last year.
Adjusted for one-time items, Coupa earned $13 million, or 17 cents a share, compared with 21 cents a share last year. Revenue rose 47% to $163.5 million, the company said, including subscription revenues of $134.9 million, an increase of 37% compared to the same period last year. Analysts polled by FactSet expected Coupa to report an adjusted loss of 11 cents a share on sales of $146 million for the quarter. The company guided for first-quarter sales between $151.5 million and $152.5 million, and an adjusted net loss between 18 cents a share and 21 cents a share. The stock ended the regular trading day down 3.5%