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 (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.
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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.
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Sprout Social (Nasdaq: SPT) announced that CFO Joe Del Preto and Head of Investor Relations Jason Rechel will present at the 23rd Annual Needham Growth Conference on January 12, 2021, at 10:00 a.m. ET. A live webcast will be available on their investor relations website, with a replay afterward. Sprout Social provides advanced social media management solutions to over 25,000 brands and agencies, enhancing brand visibility and consumer engagement. The Company uses various platforms and regularly updates investors through social media and its investor site.
Sprout Social announces the promotion of Ryan Barretto to President, effective immediately, reporting to CEO Justyn Howard. Barretto, who previously served as SVP of Global Sales, will now oversee global sales, customer success, and marketing. Under his leadership, the company has scaled from $30M to over $140M in ARR. He has played key roles in go-to-market strategies, customer success initiatives, and the IPO process. This leadership change is expected to strengthen Sprout Social's position in the growing social media management industry.
Sprout Social (Nasdaq: SPT) has appointed Raina Moskowitz, Etsy's Chief Operations, Strategy and People Officer, to its board of directors as of December 10, 2020. Justyn Howard, CEO, expressed confidence in Moskowitz's extensive experience in strategic roles at prominent companies, which aligns with Sprout's growth objectives. Moskowitz's background includes significant leadership positions at American Express and a strong academic foundation from the Wharton School. Her addition is expected to enhance Sprout's expertise in social media management, reflecting the company's commitment to exceptional service and brand engagement.
Sprout Social, a leader in cloud-based social media management software, will present at the Barclays Global Technology, Media and Telecommunications Virtual Conference on December 9, 2020, at 10:00 a.m. ET. Key executives including CEO Justyn Howard and CFO Joe Del Preto will participate. A live webcast will be available on Sprout Social’s investor relations website, with an archived replay to follow. The company offers services to over 25,000 brands, facilitating comprehensive social media engagement to enhance brand reach and consumer connections.
Sprout Social reported a strong third quarter in 2020, achieving total revenue of $33.7 million, up 27% from the previous year. The company added record net new customers and increased its total annual recurring revenue (ARR) to $141.9 million, reflecting a 30% year-over-year growth. Despite a GAAP net loss of ($7.0 million), their cash reserves grew to $167.3 million. The guidance for Q4 estimates revenue between $35.8 million and $35.9 million, with total revenue for 2020 projected at $131.4 million to $131.5 million, marking a 28% growth.
Sprout Social has announced a groundbreaking integration with Glassdoor, allowing users to access and respond to employee reviews directly from Sprout's platform. This integration enhances employer brand management by streamlining review monitoring and response processes, crucial for attracting and retaining talent. By merging traditional social media interactions with employee feedback, Sprout aims to cultivate a holistic brand strategy. This innovative step positions Sprout as a leader in combining corporate and employer branding, enabling a cohesive approach to brand perception.