Business
Sprout Social Announces Second Quarter 2021 Financial Results Above Guidance Range
Raises 2021 Guidance Second Quarter Total Revenue of $44.7 Million 29,612 Customers as of June 30, 2021 CHICAGO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Sprout
About this update from Sprout Social, Inc
[{"type":"text","content":"Raises 2021 Guidance Second Quarter Total Revenue of $44.7 Million 29,612 Customers as of June 30, 2021 CHICAGO, Aug. 03, 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 second quarter ended June 30, 2021. “Our company is executing extraordinarily well, reinforcing confidence in our strategy and our rapidly expanding opportunity,” said Justyn Howard, Sprout Social’s CEO and co-founder. “We brought multiple new capabilities to market this quarter, including a first-of-its-kind social commerce solution, that will further empower our customers to operationalize social. We’re also in a fortunate position to report our first ever quarterly non-GAAP profit, which underscores our powerful unit economics and further validates the aggressive investments we’re making in our future.” “We’re incredibly proud of the team for continually raising the bar and delivering for our customers.” Second Quarter 2021 Financial Highlights Revenue Revenue was $44.7 million, up 42% compared to the second quarter of 2020.ARR was $189.1 million, up 45% compared to the second quarter of 2020. Operating Loss GAAP operating loss was ($5.3) million, compared to ($8.3) million in the second quarter of 2020.Non-GAAP operating income was $0.1 million, compared to a Non-GAAP operating loss of ($5.9) million in the second quarter of 2020. Net Loss GAAP net loss was ($5.4) million, compared to ($8.3) million in the second quarter of 2020.Non-GAAP net income was $0.0 million, compared to a Non-GAAP net loss of ($5.8) million in the second quarter of 2020.GAAP net loss per share was ($0.10) based on 53.7 million weighted-average shares of common stock outstanding, compared to ($0.16) based on 50.5 million weighted-average shares of common stock outstanding in the second quarter of 2020.Non-GAAP net income per share was $0.00 based on 54.8 million weighted-average shares of common stock outstanding, compared to Non-GAAP net loss per share of ($0.11) based on 50.5 million weighted-average shares of common stock outstanding in the second quarter of 2020. Cash Cash and equivalents and marketable securities totaled $171.5 million as of June 30, 2021, up from $167.8 million as of March 31, 2021.Net cash generated...