Business
Sprout Social Announces Fourth Quarter and Fiscal Year 2019 Financial Results
Fourth Quarter Total Revenue of $28.1 MillionFiscal 2019 Total Revenue of $102.7 Million23,693 Customers as of December 31, 2019 CHICAGO, Feb. 26, 2020 (GLOBE
About this update from Sprout Social, Inc
[{"type":"text","content":"Fourth Quarter Total Revenue of $28.1 MillionFiscal 2019 Total Revenue of $102.7 Million23,693 Customers as of December 31, 2019\n CHICAGO, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Sprout Social, Inc. (“Sprout Social” or the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced financial results for its fourth quarter and year ended December 31, 2019. “In the fourth quarter, our first quarter as a public company, strong execution and expanding adoption of Sprout Social’s platform drove total revenue growth of 26% year-over-year and organic revenue growth of 37% year-over-year. For the full year, total revenue was up 30% and organic revenue was up 44%,” said Justyn Howard, Sprout Social’s CEO and co-founder. “The momentum in our business has continued to strengthen and we believe we are well positioned to be a long-term leader in a multi-billion dollar market opportunity based on our exceptional products, a world-class culture and deep commitment to our customers.” Fourth Quarter 2019 Financial Highlights Revenue Total revenue was $28.1 million, up 26% compared to the fourth quarter of 2018.Organic revenue (excluding the impact of legacy Simply Measured revenue) was up 37% compared to the fourth quarter of 2018.Total ARR was $117.8 million, up 27% compared to the fourth quarter of 2018.Organic ARR was $115.2 million, up 39% compared to the fourth quarter of 2018. Operating Income (Loss) GAAP operating loss was ($25.9) million, compared to ($3.9) million in the fourth quarter of 2018. The increase in operating loss was primarily a result of a $20.0 million stock-based compensation charge related to the vesting of restricted stock units (“RSUs”) in connection with our December IPO.Non-GAAP operating loss was ($5.9) million, compared to ($3.9) million in the fourth quarter of 2018. Net Income (Loss) GAAP net loss was ($25.9) million, compared to ($4.0) million in the fourth quarter of 2018. The increase in net loss was primarily a result of a $20.0 million stock-based compensation charge related to the vesting of RSUs in connection with our December IPO.Non-GAAP net loss was ($5.9) million, compared to ($4.0) million in the fourth quarter of 2018.GAAP net loss per share was ($1.11) based on 23.2 million weighted-average shares of common stock outstanding, compared to ($0.24)...