Sprout Social Inc Stock Price, News & Analysis

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.

Sprout Social, Inc. (Nasdaq: SPT) will report its Q1 2021 financial results on May 4, 2021, after market close. A conference call to discuss the results is scheduled for 4:00 p.m. CT (5:00 p.m. ET) on the same day. Investors can register for the call and access the live webcast through the company's investor relations website. Sprout Social provides cloud-based social media management software to over 26,000 brands and agencies globally, helping businesses leverage social media for deeper customer engagement and analytics.

Sprout Social recently released findings from a survey showing a significant trend towards increased reliance on social media for business strategies. 91% of business executives expect their social media budgets to rise in the next three years, with 62% of consumers believing that companies lacking a strong social media presence will fail. The survey highlights that 95% of executives anticipate using social data beyond marketing, and 78% of consumers are more likely to purchase after positive social media interactions.

Sprout Social (Nasdaq: SPT) reported a fourth quarter revenue of $37.3 million, marking a 33% increase year-over-year, and anticipates 30% revenue growth for 2021. Total annual revenue for 2020 reached $132.9 million, up 29%. The company had 26,718 customers by year-end, up from 25,556 in Q3 2020. Both GAAP and non-GAAP net losses improved compared to Q4 2019. Cash and equivalents stood at $163.9 million. The outlook for Q1 2021 includes revenue between $39.6 and $39.7 million and a non-GAAP operating loss of $5.4 to $5.0 million.

Sprout Social (Nasdaq: SPT) announced its participation in two upcoming investor conferences. CFO Joe Del Preto and Head of Investor Relations Jason Rechel will speak at the Keybanc Capital Markets’ Emerging Technology Summit on February 25, 2021, at 12:50 PM CT. Additionally, CEO Justyn Howard, CFO Del Preto, and President Ryan Barretto will attend the Morgan Stanley Technology, Media and Telecom conference on March 2, 2021, at 10 AM CT. Both webcasts will be available on the investor relations section of the Sprout Social website, archived for 12 months.

Sprout Social (Nasdaq: SPT) will release its fourth-quarter financial results for 2020 on February 23, 2021, after market close. A conference call and webcast to discuss these results will occur at 4:00 PM CT. Interested parties can register for the call and access the live webcast through Sprout Social’s investor relations website. The company provides cloud-based social media management tools to over 25,000 brands and agencies globally. More information on their financial updates will also be available on their site post-call.