Riding High: Apptio

(RTTNews) - Shares of Apptio Inc. (APTI), which are up 26% year-to-date, hover near their 52-week high of $24.50 recorded in October.

Apptio is a provider of cloud-based Technology Business Management, or TBM, solutions that enable IT leaders to improve cost efficiency and make informed investments to maximize the business value of IT spending.

The Company offers its applications to customers on a subscription basis, typically on contracts with one- to three-year terms. Revenue is also derived from providing professional services related to its applications.

Apptio's customer base includes several well-recognized names like Chevron, Facebook, General Motors, Kaiser Permanente, Nike, RBS, and U.S. Bank, among many others.

The Company has been enhancing its product portfolio by rolling out new applications. In July of this year, an application specifically designed to address the needs of IT finance professionals - IT Financial Management Foundation (ITFM Foundation) application, was introduced.

Apptio ITFM foundation offers collaborative budgeting, forecasting, variance analysis, and multi-year planning purpose-built for IT. According to the Company, this application gives IT Finance leaders confidence that every IT dollar is spent on the highest priority items for their business.

The Company has significantly grown its revenue within a short span of time, thanks to increasing cloud adoption and IT transformation.

Let's take a look at how Apptio's top line and bottom line have fared over the years.

In the third quarter ended September 30, 2017, net loss narrowed to $5.17 million or $0.13 per share on total revenue of $46.9 million. This compared with a net loss of $8.75 million or $0.63 per share and total revenue of $40.6 million in the year-ago quarter.

Rosy Outlook

Looking ahead, the Company expects total revenue for the fourth quarter of 2017 to be in the range of $49.5 million to $50.0 million. For the full year, total revenue is expected to range between $185.7 million and $186.2 million.

APTI went public on the NASDAQ Global Market on September 23, 2016, offering its shares at a price of $16 each. The stock has traded in a range of $10.77 to $24.50 in the last 1 year.

APTI closed Friday's (Dec.8) trading at $23.27, up 1.31%.