Concur, the maker of travel and entertainment expense management software, today posted quarterly revenue of $122.8 million, a 22 percent increase over the same period last year. It also posted a net loss of $12 million for its fiscal quarter, compared to a loss of $900,000 in the prior period.
“We had a strong start to the year with solid financial results and continued progress against our strategic and operational objectives,” said Concur CEO Steve Singh. “The trend lines across the business are showing solid momentum – from small businesses to large enterprises, around the globe and across verticals. We expect to grow revenue 25 percent year-over-year for the full fiscal year, driven by these trends and the strong demand in our core business.”
The company is seeing strength in its federal agency business after securing a huge $1.4 billion deal last year. Concur said that it expects
Shares of Concur fell six percent in after hours trading after reporting today’s earnings news. The stock is up 34 percent over the past year.