Sprout Social Inc Stock Price, News & Analysis

Sprout Social (Nasdaq: SPT) has announced its participation in upcoming investor events. Management is scheduled to present at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 10 at 9:45 AM CST, followed by the Canaccord Genuity 41st Annual Growth Conference on August 11 at 8:30 AM CST, and the Keybanc Capital Markets Technology Leadership Forum on August 12 at 10:10 AM CST. Live webcasts will be available on Sprout's investor relations website, with archived replays following each presentation.

Sprout Social reported strong second quarter results for 2021, with total revenue of $44.7 million, up 42% year-over-year. The company achieved its first-ever quarterly non-GAAP profit, highlighting improved unit economics. Customer count increased to 29,612, marking a 45% rise in annual recurring revenue (ARR) to $189.1 million. The outlook for Q3 anticipates revenue between $47.3 million and $47.4 million, with an updated full-year revenue forecast of $182 to $182.6 million, reflecting 37% growth.

Sprout Social (Nasdaq: SPT) announced the scheduled release of its Q2 financial results for the period ending June 30, 2021. The report will be available after market close on August 3, 2021, followed by a conference call at 4:00 PM CT (5:00 PM ET) to discuss the results. Sprout Social provides social media management solutions to over 28,000 brands globally, emphasizing the integration of social insights across business operations. Investors can access the live webcast and subsequent replay on the company’s investor relations website.

Sprout Social has announced new integrations with Shopify and Facebook Shops, enabling brands to enhance their social commerce strategies. With these new tools, businesses can tap into the growing $26 billion social commerce market, as 86% of executives report its increasing importance in revenue generation. The platform now allows seamless management of customer interactions from discovering products to completing purchases, aiming to provide a smoother shopping experience for consumers while enhancing business efficiency.

Sprout Social (Nasdaq: SPT) announced the appointment of Thomas Stanley, former Chief Revenue Officer at Tanium, to its board of directors, effective June 16, 2021. Stanley brings over two decades of experience in technology sales and go-to-market strategies. CEO Justyn Howard expressed optimism about Stanley's ability to contribute to the company's growth and customer engagement initiatives. With a commitment to social media management solutions, Sprout Social serves over 28,000 brands and aims to leverage Stanley's expertise to enhance its market position.

Sprout Social's 2021 Index reveals that 93% of marketers believe social media has intensified industry competition. The survey, covering 1,000 U.S. marketers, highlights the importance of social media in understanding audiences and enhancing brand differentiation. 86% of marketers use competitor insights from social platforms, yet only 15% measure ROI with social data. The findings indicate that consumers increasingly expect excellent customer service on social, and 90% will purchase from brands they follow on these platforms.

Sprout Social announced the phased rollout of Messenger API support for Instagram, enhancing its integration with the platform. This update allows businesses to manage incoming messages from Instagram in a centralized inbox, improving customer engagement. Nearly 80% of consumers expect brands to interact meaningfully on social media, making this feature crucial for businesses aiming to connect efficiently. Andrew Caravella, VP of Global Partnerships at Sprout Social, emphasized that this addition meets customer demand and facilitates impactful workflows.

Sprout Social, a leader in cloud-based social media management software, announced its participation in several upcoming virtual investor events. Management will present at the Barclays Americas Select Franchise Conference on May 19, the William Blair 41st Annual Growth Stock Conference on June 2, Stifel Cross Sector Insight Conference on June 8, Baird Global Consumer, Technology & Services Conference on June 9, and the Bank of America Global Technology Conference on June 10. Live webcasts and archived replays will be available on Sprout Social's investor relations website.

Sprout Social (SPT) reported strong Q1 2021 results with total revenue of $40.8 million, up 34% year-over-year, and a record 28,122 customers. The company achieved positive free cash flow for the first time, with operating loss improving significantly. Adjusted revenue guidance for FY 2021 has been raised to between $176 million and $177 million, reflecting a growth of 32% to 33%. Despite a GAAP net loss of $6.4 million, the outlook remains optimistic, bolstered by strong customer acquisition and retention.