Coupa Software Incorporated (NASDAQ:COUP) shares closed around 3% lower on Tuesday following the company’s reported Q3 results, with EPS coming in at $0.31, beating the consensus estimate of $0.03. Quarterly revenue grew 40% year-over-year to $185.8 million, better than the consensus estimate of $178.4 million.

Despite the EPS/Revenue beat, there was a notable deceleration in organic growth and Q4 billings guidance was below consensus. Overall, both the Q3 revenue beat and Q4 guide were light, though management was upbeat on strong new business, demand trends, and Coupa Pay momentum.