Sprout Social, Inc. develops cloud-based social media management and analytics software for brands that use social messaging, data, workflows and engagement tools across major social networks and digital platforms. Its platform includes publishing and engagement, customer care, influencer marketing, advocacy, social listening, analytics and AI-powered business intelligence.
Company news commonly covers subscription revenue trends, annual recurring revenue customer cohorts, remaining performance obligations, profitability measures, product launches such as Sprout AI, Trellis and NewsWhip by Sprout Social, partnerships with social platforms, research on social intelligence and consumer behavior, webinars, capital allocation actions and quarterly earnings announcements.
Sprout Social reported a strong fourth quarter for 2021, achieving $53.3 million in revenue, a 43% increase year-over-year. The company’s Annual Recurring Revenue (ARR) reached $224.2 million, growing 42% from 2020. However, it faced a GAAP operating loss of $9.7 million, compared to $5.8 million the previous year. For Q1 2022, Sprout expects revenue between $56.1 million and $56.2 million, indicating 38% year-over-year growth. The company also anticipates a full-year revenue forecast of $249 million to $250 million.
New research from Sprout Social highlights significant trends in social commerce, projecting a potential $1.2 trillion market by 2025. A survey of nearly 1,000 U.S. consumers reveals that 68% have purchased through social media, with 98% planning to do so this year. Key findings include a strong preference for immersive shopping experiences like VR and AR, with 85% of users engaging in social shopping. Inclusivity is crucial, influencing 60% of shoppers. The data indicates that brands must integrate social commerce into their strategies to attract consumers and enhance revenue.
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Sprout Social (Nasdaq: SPT) will announce its fourth-quarter financial results for 2021 on February 22, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 4:00 p.m. CT. Sprout Social offers cloud-based social media management solutions to over 30,000 brands worldwide, enhancing data-driven decision-making in social media strategies. The company's platform integrates analytics, management, and customer engagement across major social networks. For further details, visit their investor relations website.
Similarweb (NYSE: SMWB) has appointed Joe Del Preto, a seasoned executive with substantial experience in SaaS marketing solutions, to its board of directors. His expertise includes previous roles as CFO at Sprout Social and Global Controller at Groupon. CEO Or Offer emphasized Del Preto's capability to help drive Similarweb's mission to enhance digital business growth. This leadership change comes at a pivotal time for the company, enhancing its strategic direction as it continues to support businesses navigating digital markets.
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Sprout Social will present at the 24th Annual Needham Growth Conference on January 12, 2022, at 1:45 PM CT. CFO Joe Del Preto and Head of Investor Relations Jason Rechel will represent the company. A live webcast of the presentation will be available on their investor relations website, with an archived replay afterwards. Sprout Social is a leader in cloud-based social media management, serving over 30,000 brands globally, offering solutions that enhance social media engagement and analytics.
Sprout Social, a leading provider of cloud-based social media management software, will present at the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021, at 1:25 PM CT. President Ryan Barretto, CFO Joe Del Preto, and Head of Investor Relations Jason Rechel will speak at the event. A live webcast and an archived replay will be available on their investor relations website. Sprout Social serves over 30,000 brands and agencies, offering solutions to enhance social media engagement and customer connections.
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, 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.