It has been over a year since the San Mateo-based spend management firm Coupa (Nasdaq: COUP) went public. The stock has done well so far, and was recently trading at life high levels. The recently reported results have helped drive the stock upwards, as this was the first time that it reported a positive adjusted net income in the fourth quarter.

Coupa’s Financials

Coupa’s revenues grew 41% over the year to $53.75 million, surpassing the market’s estimates of $48.59 million. Adjusted earnings of $0.02 per share were also better than the consensus estimate of a loss of $0.15 per share for the quarter.

By segment, subscription sales climbed 38% to $46.6 million, and professional services and other revenues grew 70% to $7.1 million.

During the year, the company increased Cumulative Spend Under Management from $365 billion to $680 billion. It expects to grow that number past $1 trillion in the current year.

It ended the year with revenues growing 40% to $186.8 million and a non-GAAP net loss of $0.21.

For the current quarter, Coupa expects revenues of $51-$51.5 million and a net loss of $0.11-$0.13 per share. The market was looking for revenues of $50.75 million with a net loss of $0.12 per share. It expects to end the year with revenues of $227-$230 million and a non-GAAP net loss of $0.23-$0.28 per share.

Coupa’s Enterprise Expansion

Analysts believe that one of the emerging trends within procurement technology is the ability to bring more spend under management by integrating ‘out-of-catalog’ purchases while maintaining control of an organization’s approval workflows and business rules. Coupa is already helping organizations manage this by integrating Amazon Business with its offerings. Last fall, it announced the release of Coupa Open Buy with Amazon Business to be generally available in the United States. Coupa Open Buy with Amazon Business gives an organization’s employees access to the Amazon Business marketplace.