Concur Is Losing Money Along the Way to Reworking Corporate Travel
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With 1,000 customers signed up for its open-booking platform, and 5,000 new clients enrolled in all its products over the last year, Concur is getting increasingly mainstream in the corporate travel industry. That's a challenge for establishment companies such as American Express, Carlson Wagonlit Travel and BCD, which must pay heed to the insurgent.
Concur Technologies notched strong revenue growth (31%) in its fiscal second quarter, doubled the number of customers signed up for its open booking TripLink platform to 1,000, and continued to pile up losses -- namely $56 million.
In some respects, you can think of Concur as an Amazon of the travel industry in the sense that Concur is disrupting business travel, investing millions of dollars in product and marketing to grow its top line and customer base, and perennially delivering red ink.
One of the questions for Concur is when will investors get Amazon-like fatigue and get impatient waiting for the payoff? Concur's stock price was down nearly 5% to around $79 mid-day on April 30, a day after the company's Q2 earni
