Business
Sprout Social Announces Second Quarter 2020 Financial Results Above Guidance Range
Raises and Narrows 2020 GuidanceSecond Quarter Total Revenue of $31.4 Million24,356 Customers as of June 30, 2020 CHICAGO, Aug. 05, 2020 (GLOBE NEWSWIRE) --
About this update from Sprout Social, Inc
[{"type":"text","content":"Raises and Narrows 2020 GuidanceSecond Quarter Total Revenue of $31.4 Million24,356 Customers as of June 30, 2020\n CHICAGO, Aug. 05, 2020 (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 second quarter ended June 30, 2020. “Sprout was fortunate to deliver a strong quarter despite numerous macro issues,” said Justyn Howard, Sprout Social’s CEO and co-founder. “We’re grateful to our team for continuing to elevate our business and our customers while facing these issues head-on. Our strong performance speaks to the fabric of this company and reinforces our conviction about the opportunities to help our customers lean into digital acceleration and the growing importance of social communication.” “While we don’t know the depth or duration of the pandemic, our key metrics accelerated through the quarter and we have confidence in our ability to perform at the high end of the expectations that we shared with you in May.” Second Quarter 2020 Financial Highlights Revenue Total revenue was $31.4 million, up 27% compared to the second quarter of 2019.Organic revenue (excluding the impact of legacy Simply Measured revenue) was up 35% compared to the second quarter of 2019.Total ARR was $130.8 million, up 27% compared to the second quarter of 2019.Organic ARR was $129.4 million, up 35% compared to the second quarter of 2019. Operating Income (Loss) GAAP operating loss was ($8.3) million, compared to ($10.9) million in the second quarter of 2019.Non-GAAP operating loss was ($5.9) million, compared to ($5.6) million in the second quarter of 2019. Net Income (Loss) GAAP net loss was ($8.3) million, compared to ($10.8) million in the second quarter of 2019.Non-GAAP net loss was ($5.8) million, compared to ($5.5) million in the second quarter of 2019.GAAP net loss per share was ($0.16) based on 50.5 million weighted-average shares of common stock outstanding, compared to ($0.64) based on 16.8 million weighted-average shares of common stock outstanding in the second quarter of 2019.Non-GAAP net loss per share was ($0.11) based on 50.5 million weighted-average shares of common stock outstanding, compared to ($0.32) based on 16.8 million weighted-average shares of common stock outstanding in t...