Concur, the Bellevue maker of travel and entertainment expense management software, added 4,000 new customers during its past fiscal year and reported a 23.5 percent increase in non-GAAP revenue, jumping to $543 million.
For the most recent quarter, non-GAAP revenues increased 31 percent to $154.2 million. The company’s net loss for the fourth quarter was $7.5 million. (The company’s full revenue for the quarter was $156.9 million, which includes sales from businesses that it plans to divest).
“With our stated long-term revenue growth rate of 25%, crossing the $1 billion annual run rate is within our sight,” said Steve Singh, Chairman and CEO of Concur. “To serve our customers in the decades ahead, we are investing to deliver on our vision of the Perfect Trip and to drive greater efficiency into the corporate travel supply chain.”
Concur recently moved into a new headquarters in downtown Bellevue to accommodate its growth, and the company has been investing heavily in travel-oriented startups through a newly-created venture capital arm. More than 1,200 new employees joined Concur in the fiscal year 2013, expanding the workforce to more than 3,500 employees across 150 countries.
The stock is up 53 percent on the year, and Concur now boasts a market value of $5.8 billion.
