Coupa Software Reports Financial Results for the Third Quarter of Fiscal 2020

Financial Releases
<< Back View printer-friendly version
Coupa Software Reports Financial Results for the Third Quarter of Fiscal 2020
Record Quarterly Revenues of $101.8 Million, Up 51% Year-Over-Year
Quarterly Calculated Billings of $105.4 Million, Up 54% Year-Over-Year
Record Quarterly Operating Cash Flows of $25.8 Million

SAN MATEO, Calif., Dec. 2, 2019 /PRNewswire/ -- Coupa Software (NASDAQ: COUP) today announced financial results for its third fiscal quarter ended October 31, 2019.

Coupa Software (PRNewsfoto/Coupa Software)

"We delivered strong business and financial results for the third quarter, as we continue executing on our vision and extending our leadership position in Business Spend Management (BSM).  We reported $102 million of total revenues, up 51% year-over-year, and were profitable on a non-GAAP basis for the sixth consecutive quarter," said Rob Bernshteyn, chairman and chief executive officer at Coupa. "We're excited about the continued development of the BSM category, our Coupa community, and Coupa as a global brand."

Coupa defines calculated billings as the change in deferred revenue on the balance sheet for the period, plus revenue recognized during the period. See the section titled "Non-GAAP Financial Measures" and the reconciliation tables below for important details regarding Coupa's non-GAAP measures. Coupa defines free cash flows as operating cash flows less purchases of property and equipment.

Third Quarter Results

  • Total revenues were $101.8 million, an increase of 51% compared to the same period last year. Subscription revenues were $90.2 million, an increase of 49% compared to the same period last year.
  • GAAP operating loss was $16.9 million, compared to a loss of $9.9 million for the same period last year. Non-GAAP operating income was $11.6 million, compared to non-GAAP operating income of $5.8 million for the same period last year.
  • GAAP net loss was $26.3 million, compared to a net loss of $9.6 million for the same period last year. GAAP net loss per basic and diluted share was $0.42, compared to a net loss of $0.17 for the same period last year. Non-GAAP net income was $14.2 million, compared to non-GAAP net income of $5.5 million for the same period last year. Non-GAAP net income per diluted share was $0.20, compared to non-GAAP net income per diluted share of $0.08 for the same period last year.
  • Operating cash flows and free cash flows were positive $25.8 million and $22.1 million, respectively, for the quarter ended October 31, 2019.

Business Outlook:

The following forward-looking statements reflect Coupa's expectations as of December 2, 2019.

Fourth quarter of fiscal 2020:

  • Total revenues are expected to be between $101.5 and $102.5 million.
  • Subscription revenues are expected to be between $91.5 and $92.5 million.
  • Professional services and other revenues are expected to be approximately $10.0 million.
  • Non-GAAP income from operations is expected to be between $3.0 and $4.5 million.
  • Non-GAAP net income per diluted share is expected to be between $0.03 and $0.06 per share.
  • Diluted weighted average share count is expected to be 72.0 million shares.

Full year fiscal 2020:

  • Total revenues are expected to be between $379.8 and $380.8 million.
  • Non-GAAP income from operations is expected to be between $21.6 and $23.1 million.
  • Non-GAAP net income per diluted share is expected to be between $0.34 and $0.37 per share.
  • Diluted weighted average share count is expected to be 70.0 million shares.

Coupa has not reconciled its expectations for non-GAAP income from operations to GAAP loss from operations or non-GAAP net income per share to GAAP net loss per share because certain items excluded from non-GAAP income from operations and non-GAAP net income, such as charges related to share-based compensation expenses, amortization of acquired intangible assets, amortization of debt discount and issuance costs from our convertible notes, and related tax effects, including non-recurring income tax adjustments, cannot be reasonably calculated or predicted at this time. In addition, the effect of the anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes cannot be reasonably calculated or predicted at this time. The effect of these items may be significant.

Recent Business Highlights:

  • Welcomed many new customers into the Coupa community in Q3, including the following: Affinity Education Group, Alexion Pharmaceuticals, Care Vet Health, Cloudflare, ContextLogic, Crawford & Company, CVC Capital Partners, Deloitte Services, DFS Venture Singapore, Dimension Data, Distell, Enterprise Holdings, Esperion, Falconi, Ferrovial Services U.S., Fieldwood Energy, Fortitude Group Services, Grupo NC, Heritage Crystal Clean, Immunomedics, Indigo Agriculture, International Flavors & Fragrances, Lowell Financial Services, Luminus, Maersk Drilling, Molex, OSOTSPA Company, Pivot Bio, Priority Ambulance, Relay Therapeutics, Saga, SambaNova Systems, Segment, Stonemor Partners, T3 Expo, TSVC, Virgin Hyperloop One, Wilson Sons, and Wirecard.
  • Recognized as a Gartner 2019 Peer Insights Customers' Choice for Procure-to-Pay Suites and listed in the Deloitte Fast 500 for the seventh consecutive year.
  • At Inspire'19 EMEA in London, unveiled new community-powered capabilities for Coupa Source Together and Coupa Supplier Insights, as well as expanded capabilities for Coupa Pay, including support for Expense Payments.
  • Announced the availability of Coupa CLM Advanced following the rapid integration of Exari's technology with the Coupa BSM platform.

Conference Call Information:

Coupa will host a conference call and live webcast for analysts and investors at 5:00 p.m. Eastern time today.

  • Parties in the U.S. and Canada can access the call by dialing (855) 302-8830, using conference code 2858988.
  • International parties can access the call by dialing +1 (330) 871-6073, using conference code 2858988.

A live webcast will be accessible on Coupa's investor relations website at http://investors.coupa.com. A replay will be available through the same link. A telephonic replay of the conference call will be available through Monday, December 9, 2019. To access the replay, parties in the U.S. and Canada should call (855) 859-2056 and enter conference code 2858988. International parties should call +1 (404) 537-3406 and enter conference code 2858988.

Non-GAAP Financial Measures:

In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures that exclude certain items, including share-based compensation expenses, amortization of acquired intangible assets, amortization of debt discount and issuance costs from convertible notes, and related tax effects, including non-recurring income tax adjustments. In addition, the weighted average diluted shares used to calculate non-GAAP net income per share reflect the anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes. Coupa believes these non-GAAP measures are useful in evaluating its operating performance and regularly reviews these measures as it evaluates its business.

Coupa believes these non-GAAP measures provide investors and other users of its financial information consistency and comparability with its past financial performance and facilitate period to period comparisons of operations. Coupa believes these non-GAAP measures are useful in evaluating its operating performance compared to that of other companies in its industry, as they generally eliminate the effects of certain items that may vary for different companies for reasons unrelated to overall operating performance.

Coupa uses these non-GAAP measures in conjunction with GAAP measures as part of its overall assessment of its performance, including the preparation of its annual operating budget and quarterly forecasts, to evaluate the effectiveness of its business strategies and to communicate with its board of directors concerning its financial performance. The definitions of its non-GAAP measures may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, Coupa's non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

Coupa compensates for these limitations by providing investors and other users of its financial information a reconciliation of non-GAAP measures to the related GAAP financial measures. Coupa encourages investors and others to review its financial information in its entirety, not to rely on any single financial measure and to view its non-GAAP measures in conjunction with GAAP financial measures.  Please see the reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures attached to this release.

Forward-Looking Statements:

This release includes forward-looking statements. All statements other than statements of historical facts, including the statements of management and statements in "Business Outlook" are forward-looking statements. These forward-looking statements are based on Coupa's current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.

These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including Coupa has a limited operating history at its current scale, which makes it difficult to predict its future operating results; if Coupa is unable to attract new customers, the growth of its revenues will be adversely affected; because its platform is sold to large enterprises with complex operating environments, Coupa encounters long and unpredictable sales cycles; risks and liabilities related to breach of its security measures or unauthorized access to customer data; the markets in which Coupa participates are intensely competitive; Coupa's business depends substantially on its customers renewing their subscriptions and purchasing additional subscriptions; if Coupa fails to develop widespread brand awareness cost-effectively, its business may suffer; if Coupa fails to manage its recent rapid growth effectively, Coupa may be unable to execute its business plan, maintain high levels of service, or adequately address competitive challenges; the impact of acquisitions on its business, such as integration issues, assumption of unknown or unforeseen liabilities and ability to retain customers; and the impact of foreign currency exchange rates and global economic conditions.

These and other risks and uncertainties that could affect Coupa's future results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in Coupa's quarterly report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on September 5, 2019, which is available at investors.coupa.com and on the SEC's website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other periodic filings Coupa makes with the SEC.

The forward-looking statements in this release reflect Coupa's expectations as of December 2, 2019. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in its expectations.

About Coupa Software

Coupa Software (NASDAQ: COUP) is a leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than five million suppliers globally. The Coupa BSM platform provides greater visibility into and control over how companies spend money. Using the Coupa BSM platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.

 

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts) 

(unaudited)








Three Months Ended


Nine Months Ended


October 31,


October 31,


2019


2018


2019


2018

Revenues:








Subscription

$  90,175


$ 60,559


$ 246,614


$ 165,899

Professional services and other 

11,609


6,896


31,653


19,559

Total revenues 

101,784


67,455


278,267


185,458

Cost of revenues:








Subscription

23,752


13,990


63,217


36,937

Professional services and other 

13,542


7,674


35,896


21,492

Total cost of revenues 

37,294


21,664


99,113


58,429

Gross profit 

64,490


45,791


179,154


127,029

Operating expenses:








Research and development 

23,460


16,077


67,838


42,693

Sales and marketing 

39,145


25,622


112,575


76,862

General and administrative 

18,830


14,010


56,297


40,085

Total operating expenses 

81,435


55,709


236,710


159,640

Loss from operations 

(16,945)


(9,918)


(57,556)


(32,611)

Interest expense

(13,188)


(3,181)


(24,874)


(9,276)

Interest income and other, net

4,076


1,112


6,479


1,562

Loss before provision for (benefit from) income taxes 

(26,057)


(11,987)


(75,951)


(40,325)

Provision for (benefit from) income taxes 

260


(2,342)


(9,172)


(1,372)

Net loss

$ (26,317)


$ (9,645)


$ (66,779)


$ (38,953)

Net loss per share attributable to common stockholders, basic and diluted 

$     (0.42)


$   (0.17)


$     (1.08)


$     (0.68)

Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted

63,057


58,212


61,973


57,030

 

COUPA SOFTWARE INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)






October 31,


January 31,


2019


2019

Assets




Current assets:




Cash and cash equivalents 

$    587,029


$    141,250

Marketable securities

255,327


180,169

Accounts receivable, net of allowances 

79,658


95,274

Prepaid expenses and other current assets 

24,017


10,343

Deferred commissions, current portion 

10,043


7,324

Total current assets 

956,074


434,360

Property and equipment, net 

17,807


10,549

Deferred commissions, net of current portion 

25,001


18,904

Goodwill 

370,869


209,560

Intangible assets, net 

96,848


55,925

Operating lease right-of-use assets

31,657


Other assets 

13,325


10,766

Total assets 

$ 1,511,581


$    740,064

Liabilities and Stockholders' Equity




Current liabilities:




Accounts payable 

$        3,008


$        5,485

Accrued expenses and other current liabilities 

68,432


41,792

Deferred revenue, current portion 

189,490


179,967

Operating lease liabilities, current portion

7,395


Current portion of convertible senior notes, net

183,875


174,615

Total current liabilities 

452,200


401,859

Convertible senior notes, net

553,280


Deferred revenue, net of current portion 

3,026


2,620

Operating lease liabilities, net of current portion

26,024


Other liabilities 

17,555


22,304

Total liabilities 

1,052,085


426,783

Stockholders' equity:




Preferred stock, $0.0001 par value per share


Common stock, $0.0001 par value per share

7


6

Additional paid-in capital 

782,043


567,797

Accumulated other comprehensive income (loss)

(918)


335

Accumulated deficit 

(321,636)


(254,857)

Total stockholders' equity

459,496


313,281

Total liabilities and stockholders' equity

$ 1,511,581


$    740,064

 

COUPA SOFTWARE INCORPORATED 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(in thousands) 

(unaudited)






Nine Months Ended


October 31,


2019


2018

Cash flows from operating activities




Net loss 

$ (66,779)


$ (38,953)

Adjustments to reconcile net loss to net cash provided by operating activities:




Depreciation and amortization 

19,165


6,720

Accretion of discounts on marketable securities, net

374


(956)

Amortization of deferred commissions 

6,675


4,127

Amortization of debt discount and issuance costs

23,350


8,595

Stock-based compensation 

60,068


38,690

Other

(637)


(374)

Changes in operating assets and liabilities net of effects from acquisitions:




Accounts receivable 

23,855


12,391

Prepaid expenses and other current assets 

(9,839)


(3,304)

Other assets 

(2,998)


(542)

Deferred commissions 

(15,491)


(8,467)

Accounts payable 

(4,126)


2,458

Accrued expenses and other liabilities 

6,895


6,362

Deferred revenue 

5,365


1,216

Net cash provided by operating activities 

45,877


27,963

Cash flows from investing activities




Purchases of marketable securities

(318,759)


(209,331)

Maturities of marketable securities

44,796


31,834

Sales of marketable securities

199,314


Acquisitions, net of cash acquired

(208,505)


(49,211)

Purchases of property and equipment

(9,862)


(4,870)

Net cash used in investing activities 

(293,016)


(231,578)

Cash flows from financing activities




Proceeds from issuance of convertible senior notes, net of issuance costs

786,157


(639)

Purchase of capped calls

(118,738)


Proceeds from the exercise of common stock options 

14,095


10,174

Proceeds from issuance of common stock for employee stock purchase plan

11,455


8,778

Net cash provided by financing activities 

692,969


18,313

Net increase (decrease) in cash, cash equivalents, and restricted cash 

445,830


(185,302)

Cash, cash equivalents, and restricted cash at beginning of year

141,319


412,976

Cash, cash equivalents, and restricted cash at end of period

$ 587,149


$ 227,674





Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets




Cash and cash equivalents

587,029


227,606

Restricted cash included in other assets

120


68

Total cash, cash equivalents, and restricted cash

$ 587,149


$ 227,674

 

 COUPA SOFTWARE INCORPORATED 

 Reconciliation of GAAP to Non-GAAP Financial Measures 

 Three Months Ended October 31, 2019 

 (in thousands, except percentages and per share amounts) 

 (unaudited) 



 GAAP 


 Share-Based
Compensation
Expenses 


 Amortization
of Acquired
Intangible
Assets 


 Amortization of
Debt Discount
and Issuance
Costs 


 Non-GAAP 

Costs and expenses:










Costs of subscription

$23,752


$  (1,886)


$ (4,654)


$ —


$17,212

Costs of professional services and other

13,542


(2,113)


(200)



11,229

Gross profit

63.4%


3.9%


4.8%


0.0%


72.1%











Research and development

23,460


(5,517)




17,943

Sales and marketing

39,145


(6,135)


(1,686)



31,324

General and administrative

18,830


(6,304)




12,526

Income (loss) from operations

(16,945)


21,955


6,540



11,550

Operating margin

-16.6%


21.6%


6.4%


0.0%


11.3%











Interest expense

(13,188)




12,352


(836)

Interest income and other, net

4,076





4,076

Income (loss) before provision for (benefit from) income taxes 

(26,057)


21,955


6,540


12,352


14,790

Provision for (benefit from) income taxes 

260


489


(123)



626

Net income (loss)

(26,317)


21,466


6,663


12,352


14,164











Net income (loss) per share attributable to common stockholders, basic (1)

$  (0.42)








$   0.22

Net income (loss) per share attributable to common stockholders, diluted (1)

$  (0.42)








$   0.20


(1) GAAP net loss per share is calculated based upon 63,057 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon 63,057 basic and 71,687 diluted weighted-average shares of common stock. The Company uses the treasury stock method to calculate the non-GAAP diluted shares related to the convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.

 

 COUPA SOFTWARE INCORPORATED 

 Reconciliation of GAAP to Non-GAAP Financial Measures 

 Three Months Ended October 31, 2018 

 (in thousands, except percentages and per share amounts) 

 (unaudited) 



 GAAP 


 Share-Based
Compensation
Expenses 


 Amortization
of Acquired
Intangible
Assets 


 Amortization of
Debt Discount
and Issuance
Costs 


Other
Expenses (2)


 Non-GAAP 

Costs and expenses:












Costs of subscription

$13,990


$ (1,152)


$ (1,408)


$ —


$ —


$11,430

Costs of professional services and other

7,674


(1,071)





6,603

Gross profit

67.9%


3.3%


2.1%


0.0%


0.0%


73.3%













Research and development

16,077


(3,046)





13,031

Sales and marketing

25,622


(3,899)


(453)




21,270

General and administrative

14,010


(4,652)





9,358

Income (loss) from operations

(9,918)


13,820


1,861




5,763

Operating margin

-14.7%


20.5%


2.8%


0.0%


0.0%


8.5%













Interest expense

(3,181)




2,953



(228)

Interest income and other, net

1,112






1,112

Income (loss) before provision for (benefit from) income taxes

(11,987)


13,820


1,861


2,953



6,647

Provision for (benefit from) income taxes 

(2,342)


382


20



3,126


1,186

Net income (loss)

(9,645)


13,438


1,841


2,953


(3,126)


5,461













Net income (loss) per share attributable to common stockholders, basic (1)

$  (0.17)










$   0.09

Net income (loss) per share attributable to common stockholders, diluted (1)

$  (0.17)










$   0.08


(1) GAAP net loss per share is calculated based upon 58,212 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon 58,212 basic and 67,933 diluted weighted-average shares of common stock. The Company uses the treasury stock method to calculate the non-GAAP diluted shares related to the convertible notes. 


(2) Other expenses consists of the release of a valuation allowance against deferred tax assets.

 

 COUPA SOFTWARE INCORPORATED 

 Reconciliation of GAAP to Non-GAAP Financial Measures 

 Nine Months Ended October 31, 2019 

 (in thousands, except per share amounts) 

 (unaudited) 



 GAAP 


 Share-Based
Compensation
Expenses 


 Amortization
of Acquired
Intangible
Assets 


 Amortization of
Debt Discount
and Issuance
Costs 


Other
Expenses (2)


 Non-GAAP 

Costs and expenses:












Costs of subscription

$63,217


$  (5,045)


$(11,535)


$ —


$ —


$46,637

Costs of professional services and other

35,896


(5,581)


(200)




30,115

Gross profit

64.4%


3.8%


4.2%


0.0%


0.0%


72.4%













Research and development

67,838


(14,640)





53,198

Sales and marketing

112,575


(17,034)


(4,342)




91,199

General and administrative

56,297


(17,768)





38,529

Income (loss) from operations

(57,556)


60,068


16,077




18,589

Operating margin

-20.7%


21.6%


5.8%


0.0%


0.0%


6.7%













Interest expense

(24,874)




23,350



(1,524)

Interest income and other, net

6,479






6,479

Income (loss) before provision for (benefit from) income taxes 

(75,951)


60,068


16,077


23,350



23,544

Provision for (benefit from) income taxes 

(9,172)


1,797


(369)



9,671


1,927

Net income (loss)

(66,779)


58,271


16,446


23,350


(9,671)


21,617













Net income (loss) per share attributable to common stockholders, basic (1)

$  (1.08)










$   0.35

Net income (loss) per share attributable to common stockholders, diluted (1)

$  (1.08)










$   0.31


(1) GAAP net loss per share is calculated based upon 61,973 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon 61,973 basic and 69,856 diluted weighted-average shares of common stock. The Company uses the treasury stock method to calculate the non-GAAP diluted shares related to the convertible notes which reflects any anti-dilutive impact of the capped call transactions entered into in connection with the convertible notes.


(2) Other expenses consists of the release of a valuation allowance against deferred tax assets.

 

 COUPA SOFTWARE INCORPORATED 

 Reconciliation of GAAP to Non-GAAP Financial Measures 

 Nine Months Ended October 31, 2018 

 (in thousands, except per share amounts) 

 (unaudited) 



 GAAP 


 Share-Based
Compensation
Expenses 


 Amortization
of Acquired
Intangible
Assets 


 Amortization of
Debt Discount
and Issuance
Costs 


Other
Expenses (2)


 Non-GAAP 

Costs and expenses:












Costs of subscription

$36,937


$ (3,076)


$ (3,036)


$ —


$ —


$30,825

Costs of professional services and other

21,492


(3,086)





18,406

Gross profit

68.5%


3.3%


1.6%


0.0%


0.0%


73.5%













Research and development

42,693


(8,551)





34,142

Sales and marketing

76,862


(10,732)


(994)




65,136

General and administrative

40,085


(13,245)





26,840

Income (loss) from operations

(32,611)


38,690


4,030




10,109

Operating margin

-17.6%


20.9%


2.2%


0.0%


0.0%


5.5%













Interest expense

(9,276)




8,595



(681)

Interest income and other, net

1,562






1,562

Income (loss) before provision for (benefit from) income taxes

(40,325)


38,690


4,030


8,595



10,990

Provision for (benefit from) income taxes 

(1,372)


922


93



3,126


2,769

Net income (loss)

(38,953)


37,768


3,937


8,595


(3,126)


8,221













Net income (loss) per share attributable to common stockholders, basic (1)

$  (0.68)










$   0.14

Net income (loss) per share attributable to common stockholders, diluted (1)

$  (0.68)










$   0.13


(1) GAAP net loss per share is calculated based upon 57,030 basic and diluted weighted-average shares of common stock. Non-GAAP net income per share is calculated based upon 57,030 basic and 65,529 diluted weighted-average shares of common stock. The Company uses the treasury stock method to calculate the non-GAAP diluted shares related to the convertible notes. 


(2) Other expenses consists of the release of a valuation allowance against deferred tax assets.

 

 COUPA SOFTWARE INCORPORATED 

 Reconciliation of GAAP Cash Flows from Operations to Free Cash Flows 

 (A Non-GAAP Financial Measure) 

 (in thousands) 

 (unaudited) 



Three Months Ended


Nine Months Ended


October 31,


October 31,


2019


2018


2019


2018

Net cash provided by operating activities 

$ 25,832


$ 4,019


$ 45,877


$ 27,963

Less: purchases of property and equipment

(3,689)


(1,454)


(9,862)


(4,870)

Free cash flows

$ 22,143


$ 2,565


$ 36,015


$ 23,093

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/coupa-software-reports-financial-results-for-the-third-quarter-of-fiscal-2020-300967678.html

SOURCE Coupa Software

Investor Relations, NMN Advisors for Coupa, Nicole Noutsios, (510) 315-1003, ir@coupa.com; Media Contact, Kristi Lewandowski, (650) 485-8506, kristi.lewandowski@coupa.com