Bellevue’s Apptio capped off 2017 by exceeding financial analyst expectations for revenue and earnings per share, as more companies adopt its financial-management software to keep track of spending.
During the fourth quarter , Apptio’s revenue was $52.4 million, an 18 percent jump compared to last year and well above analyst expectations of $49.9 million, according to Yahoo Finance . The company is still losing money as it invests in sales and marketing, but excluding special items, Apptio lost $0.06, an improvement over the $0.10 per share it lost in last year’s fourth quarter and better than analyst estimates of a $0.08 loss per share.
Apptio’s software, delivered as a service because it’s 2018, allows IT organizations to monitor their spending on other cloud services, which is a tricker problem than it might appear . A lot of cloud services allow for spikes in usage in response to certain events, and some services are used by small groups for workers only for a short period of time. Getting a handle on that spending allows companies to set policies around the use of those services.
For the full year, Apptio’s revenue was $155.4 million, a 19 percent increase. Apptio also announced that it has become cash-flow positive, an important milestone on the path to true profitability.
Apptio is scheduled to hold a conference call later this afternoon to discuss its results as well as its recent acquisition of Digital Fuel for $42.5 million.