Business
Sprout Social Announces Third Quarter 2021 Financial Results Above Guidance Range
Expects 2021 Revenue Growth of 40% Third Quarter Total Revenue of $49.1 Million 30,705 Customers as of September 30, 2021 CHICAGO, Nov. 02, 2021 (GLOBE
About this update from Sprout Social, Inc
[{"type":"text","content":"Expects 2021 Revenue Growth of 40% Third Quarter Total Revenue of $49.1 Million 30,705 Customers as of September 30, 2021 CHICAGO, Nov. 02, 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 third quarter ended September 30, 2021. “We’re excited to report our fastest quarterly revenue growth rate as a public company,” said Justyn Howard, Sprout Social’s CEO and co-founder. “Our outperformance this quarter was driven by accelerated momentum in our large-customer cohorts, underscoring the quality of our growth. We’re pleased to deliver very strong ACV growth and we see even greater future opportunities as our customers operationalize social.” “We’re incredibly proud of our team for continuing to raise the bar for our customers and partners.” Third Quarter 2021 Financial Highlights Revenue Revenue was $49.1 million, up 46% compared to the third quarter of 2020.ARR was $204.6 million, up 44% compared to the third quarter of 2020. Operating Loss GAAP operating loss was ($6.8) million, compared to ($6.9) million in the third quarter of 2020.Non-GAAP operating loss was ($1.6) million, compared to a Non-GAAP operating loss of ($4.4) million in the third quarter of 2020. Net Loss GAAP net loss was ($7.0) million, compared to ($7.0) million in the third quarter of 2020.Non-GAAP net loss was ($1.8) million, compared to a Non-GAAP net loss of ($4.4) million in the third quarter of 2020.GAAP net loss per share was ($0.13) based on 53.9 million weighted-average shares of common stock outstanding, compared to ($0.13) based on 51.9 million weighted-average shares of common stock outstanding in the third quarter of 2020.Non-GAAP net loss per share was ($0.03) based on 53.9 million weighted-average shares of common stock outstanding, compared to Non-GAAP net loss per share of ($0.09) based on 51.9 million weighted-average shares of common stock outstanding in the third quarter of 2020. Cash Cash and equivalents and marketable securities totaled $175.0 million as of September 30, 2021, up from $171.5 million as of June 30, 2021.Net cash generated by operating activities was $4.4 million, compared to net cash used by operating activities of ($2.6) million in the third quarter of 2020.Free ...