Business
Sprout Social Announces Fourth Quarter 2020 Financial Results Above Guidance Range
Expects 2021 Revenue Growth of 30%Fourth Quarter Total Revenue of $37.3 Million26,718 Customers as of December 31, 2020 CHICAGO, Feb. 23, 2021 (GLOBE
About this update from Sprout Social, Inc
[{"type":"text","content":"Expects 2021 Revenue Growth of 30%Fourth Quarter Total Revenue of $37.3 Million26,718 Customers as of December 31, 2020 CHICAGO, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Sprout Social, Inc. (“Sprout Social”, the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced financial results for its fourth quarter ended December 31, 2020. “We delivered an emphatic close to the year and are prepared for a fantastic 2021,” said Justyn Howard, Sprout Social’s CEO and co-founder. “Social has taken center stage in the digital strategy for millions of businesses around the globe. Social is not simply a way to market a brand, it is increasingly becoming the brand; it’s helping companies evolve what they make, who they make it for, how they sell it, how they compete, and how they deliver world-class experience. We are perfectly aligned to help our customers thrive into this period of transformation.” “Our employees, our partners and our customers proved their resiliency, loyalty and trust many times over throughout 2020. We are humbled by this ongoing validation and excited by what lies ahead.” Fourth Quarter 2020 Financial Highlights Revenue Total revenue was $37.3 million, up 33% compared to the fourth quarter of 2019.Organic revenue (excluding the impact of legacy Simply Measured revenue) was up 36% compared to the fourth quarter of 2019.Total ARR was $158.3 million, up 34% compared to the fourth quarter of 2019.Organic ARR was $157.2 million, up 36% compared to the fourth quarter of 2019. Operating Loss GAAP operating loss was ($5.8) million, compared to ($25.9) million in the fourth quarter of 2019. Expenses during the fourth quarter of 2019 included one-time costs associated with the Company’s IPO.Non-GAAP operating loss was ($3.3) million, compared to ($5.9) million in the fourth quarter of 2019. Net Loss GAAP net loss was ($5.9) million, compared to ($25.9) million in the fourth quarter of 2019.Non-GAAP net loss was ($3.4) million, compared to ($5.9) million in the fourth quarter of 2019.GAAP net loss per share was ($0.11) based on 53.1 million weighted-average shares of common stock outstanding, compared to ($1.11) based on 23.2 million weighted-average shares of common stock outstanding in the fourth quarter of 2019.Non-GAAP net loss per share was ($0.06) based on 53.1 million ...