Not only has Concur made several acquisitions as of late, but the company is now back in the green.
The Bellevue maker of travel and entertainment expense management software posted its third quarter earnings today, with GAAP net income coming in at $2.8 million or $0.05 per share. Total revenue was $138.7 million, up 23 percent from this time last year and nine percent from the most recent quarter.
This follows a net loss of $7.6 million last quarter, though that’s because the company was growing so fast that it couldn’t quite keep up with demand.
CEO Steve Singh noted that the 3Q results say a lot about the company’s mission: To be the No.1 provider of expense reports and to help the global business travel industry operate more efficiently.
“The third quarter was a perfect reflection of those objectives as we continued to expand our customer reach and drive the innovation agenda for our industry,” Singh said in the press release.
Concur just bought technology solutions from Dallas-based GDSX and Atlanta-based TRX, which followed the acquisition of conTgo a few months ago. The company has been on a buying spree over the past two years that also included the $120 million purchase of TripIt. It also last year established a $150 million fund — The Perfect Trip fund — to bankroll startups in the online travel arena.
Concur, which employs more than 3,000, is now working out of a new office space at a Bellevue high-rise. Shares of Concur are up more than 30 percent this year, and the company now has a market value just shy of $5 billion.
