Sprout Social Inc Stock Price, News & Analysis

Sprout Social (Nasdaq: SPT) announced participation in two upcoming investor events: the Keybanc Technology Leadership Forum on August 9th and the Canaccord Growth Conference on August 11th, both starting at 10:00 AM CT. Investors can access live webcasts of the presentations on Sprout Social’s investor relations website, with archived replays available later.

Sprout Social provides cloud-based social media management solutions to over 33,000 brands globally, enhancing business operations through data-driven insights. For more details, visit their investor relations page.

Sprout Social has integrated Instagram Reels into its video management capabilities, enhancing its platform for brands focusing on short-form video content. This new feature allows users to efficiently plan, publish, and analyze Instagram Reels alongside TikTok, increasing engagement and optimizing brand strategies. President Ryan Barretto highlighted the growing popularity of short-form video as critical for long-term social and business success. The integration aims to streamline video content management, supporting over 32,000 brands globally.

Sprout Social reported a robust Q2 2022 with revenue of $61.4 million, a 37% increase year-over-year. The company's ARR grew to $256.1 million, marking a 35% rise year-over-year. However, GAAP operating loss expanded to ($14.5 million), up from ($5.3 million) the previous year. The customer base increased by 14% to 33,620, with substantial growth in high-value accounts. For Q3 2022, Sprout Social anticipates revenue between $64.9 million and $65.0 million, reflecting over 32% year-over-year growth.

Sprout Social's recent study shows that 74% of marketers plan to allocate at least 25% of their social media budget to creator partnerships in the next 3-6 months. Challenges include budget constraints (45%), lack of resources (36%), and difficulties in finding aligned creators (34%). Primary goals for collaborating with creators are increasing audience engagement (62%) and reaching new audiences (60%). Instagram (58%), Facebook (51%), and TikTok (50%) are preferred platforms for collaborations, with educational content ranked highest among desired formats.

Sprout Social (Nasdaq: SPT) will report its second-quarter financial results on August 2, 2022, after market close. A conference call and webcast will follow at 4:00 p.m. CT, accessible via Sprout's investor relations website. The company offers comprehensive social media management solutions to over 32,000 clients globally, enhancing social media analytics, customer care, and advocacy.

Investors can find more details on material information through SEC filings, press releases, and the company's social media profiles.

Sprout Social (Nasdaq: SPT) announced that its senior management will participate in several upcoming investor events. These include the 42nd Annual William Blair Growth Stock Conference on June 7 at 2:00 PM CT, the Baird 2022 Global Consumer, Technology & Services Conference on June 8 at 12:25 PM CT, and the Stifel 2022 Cross Sector Insight Conference on June 9 at 2:00 PM CT. Live webcasts will be accessible on Sprout Social’s investor relations website, with archived replays available afterwards.

Sprout Social has announced a new partnership with TikTok as part of the TikTok Marketing Partner Program. This integration gives Sprout users enhanced capabilities including TikTok video scheduling, comment management, and performance analytics. With nearly 50% of TikTok's 1 billion users reporting purchases influenced by the platform, this move aims to help brands optimize their video strategies for better revenue results. CEO Justyn Howard highlighted the importance of social media as a central point in brand-customer relationships.

Sprout Social’s 2022 Index reveals a gap between marketer enthusiasm and consumer readiness for the metaverse. While 67% of marketers plan to allocate a quarter of their budgets to metaverse strategies, only 24% of consumers expect to use it in the next year. The report highlights a shift towards short-form video, with 38% of consumers intending to use TikTok, a significant increase from 17% in 2020. Additionally, 51% of consumers plan to engage more with YouTube, despite 35% of marketers decreasing its use in their strategies.

Sprout Social reported a strong first quarter of 2022, achieving a total revenue of $57.4 million, up 41% year-over-year.

Annual recurring revenue (ARR) reached $239.1 million, marking a 39% increase from the previous year. Despite a GAAP net loss of $9.8 million, improvements in non-GAAP metrics highlighted operational efficiency. The company also grew its customer base to 32,800, with notable growth in significant contributors. For Q2 2022, revenue guidance is between $60.2 million and $60.3 million, reflecting a 35% year-over-year growth.