Welcome to our dedicated page for Sprout Social news (Ticker: SPT), a resource for investors and traders seeking the latest updates and insights on Sprout Social stock.
Sprout Social, Inc. (NASDAQ: SPT) is a provider of cloud-based social media management and analytics software, and the news flow around the company reflects its role at the intersection of social media, marketing technology and enterprise software. This page aggregates news about Sprout Social, including earnings announcements, product launches, research reports and recognition from third-party platforms.
Investors and analysts following SPT can expect quarterly financial results updates, typically released via press releases and accompanied by conference calls and webcasts. These announcements cover revenue trends, remaining performance obligations, non-GAAP metrics and guidance, and are often furnished to the SEC on Form 8-K. News items may also highlight customer metrics and examples of organizations using Sprout Social’s platform.
Beyond financial reporting, Sprout Social regularly issues news about product developments and integrations. Recent examples include the launch of Sprout AI and its Trellis AI agent, which are designed to turn social data into enterprise intelligence, and an integration with Canva that streamlines the path from design to social publishing. The company also reports on enhancements to its influencer marketing platform and social customer care capabilities.
Another recurring theme in Sprout Social’s news is industry recognition and research. Press releases have detailed awards from G2 and TrustRadius, leadership positions in analyst evaluations such as IDC MarketScape, and proprietary research like the Impact of Social Media Report and the Social Media Dictionary. These items provide context on how brands use social media for commerce, customer care and discovery, and how Sprout Social positions its platform in response.
For anyone tracking SPT, this news feed offers a centralized view of the company’s operational updates, strategic initiatives, research publications and industry accolades over time.
Sprout Social announced the integration of Yelp into its review management capabilities, enhancing its platform for users to manage online reviews efficiently. With 86% of consumers reading online reviews and 91% of younger consumers trusting them, this feature is crucial for businesses seeking to improve their online reputation. Sprout's President, Ryan Barretto, emphasized the growing need for effective review monitoring as businesses scale. Launched in 2019, Sprout's review management now supports multiple platforms alongside Yelp, strengthening its offerings to over 30,000 global brands.
Sprout Social announced the integration of WhatsApp messaging into its platform, enhancing its offerings alongside existing Facebook and Instagram messaging solutions. This makes Sprout one of the few global providers with comprehensive messaging capabilities for businesses.
With messaging becoming increasingly vital, 76% of consumers now follow brands for customer support on social media. The integration aims to provide businesses with seamless customer interactions and support workflows. Launch is planned by year-end, expanding Sprout’s role in business messaging.
Sprout Social, Inc. (Nasdaq: SPT) reported a 46% revenue increase in Q3 2021, reaching $49.1 million. Annual Recurring Revenue (ARR) grew by 44% to $204.6 million. The company has 30,705 customers, a 20% growth year-over-year. Despite a GAAP operating loss of ($6.8 million), the non-GAAP operating loss improved to ($1.6 million), down from ($4.4 million a year ago. For 2021, the company anticipates total revenue of $185.8 to $185.9 million, showing an expected 40% growth.
Sprout Social has released insights on trends impacting the retail industry this holiday season, derived from social media conversation data. With a notable 42% increase in Twitter discussions regarding pop-up stores, brands are encouraged to enhance in-store experiences and complement them with robust online strategies. 93% of executives recognize a shift towards social commerce, with 36% of consumers already purchasing via social media. The influence of younger consumers is evident as they drive trends like second-hand shopping, projected to reach $77 billion by 2025.
Sprout Social (Nasdaq: SPT) announced it will report its financial results for Q3 2021 on November 2, 2021, after market close. The report will include key business highlights and will be discussed in a conference call at 4:00 p.m. CT (5:00 p.m. ET).
This conference can be accessed via online registration, and the live webcast will be available on its investor relations website. A replay will be accessible for 12 months.
Sprout Social announced a $100,000 contribution to the United Negro College Fund (UNCF) to establish the Sprout Social Scholarship Fund, providing eight merit-based scholarships of $11,000 each for Black/African American college seniors in computer science or software engineering.
This initiative aims to alleviate financial burdens and promote workforce opportunities, with recipients also having the chance to apply for full-time roles at Sprout starting summer 2022. The partnership emphasizes Sprout's commitment to enhancing diversity in STEM fields.
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Sprout Social (Nasdaq: SPT) announced it has surpassed $200 million in annual recurring revenue (ARR) and now serves over 30,000 customers globally. This milestone highlights the company's accelerated growth and market presence, with a doubling of ARR in approximately two years. CEO Justyn Howard and President Ryan Barretto emphasized the importance of customer focus and the execution of their teams. They anticipate continued progress and innovation as they engage with stakeholders during their first investor day.
Sprout Social announced a virtual event titled Untapped: Leaders Talk Opportunity on October 6, 2021, at 10 am CT. The event will feature keynote speakers Alexandra Waldman, Co-Founder of Universal Standard, and Alexis Ohanian, Founder of Seven Seven Six and former Reddit Executive Chair. They will share insights on identifying and seizing opportunities for impactful results. Justyn Howard, CEO of Sprout Social, will discuss the role of social media in future business growth. Registration is free and available online.
Sprout Social (Nasdaq: SPT) announced its first investor day on September 22, 2021, at 9 am CT. The virtual event will feature discussions on the company's vision, personnel, and products aimed at leveraging growth opportunities. Registration is available at sproutsocial.com/investor-day and the event will be webcast live. An archived replay will be accessible post-event at investors.sproutsocial.com.
Sprout Social serves over 29,000 brands globally, offering integrated social media management solutions.