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. 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, Inc. (Nasdaq: SPT) announced a cancellation of its presentation at the Canaccord Genuity 40th Annual Growth Conference due to changes in management schedules linked to its follow-on public offering. CEO Justyn Howard, CFO Joe Del Preto, and SVP of Global Sales Ryan Barretto will present at the KeyBanc Capital Markets’ Future of Technology Series on August 18, 2020. A registration statement for the offering has been filed with the SEC but is not yet effective. A prospectus will be available through various financial institutions and online via the SEC's website.
Sprout Social (Nasdaq: SPT) announced a follow-on public offering of its Class A common stock. The offering aims to sell up to 1.5 million shares by the Company and 4.5 million shares by selling stockholders. Additionally, underwriters may purchase up to 900,000 extra shares within 30 days. The Company will not receive proceeds from the selling stockholders' shares. Morgan Stanley, Goldman Sachs, and Barclays are the lead managers for the offering. A registration statement has been filed with the SEC but is not yet effective.
Sprout Social, a leader in cloud-based social media management software, has announced two upcoming virtual investor conference presentations. CEO Justyn Howard, CFO Joe Del Preto, and SVP Ryan Barretto will present at the Canaccord Genuity 40th Annual Growth Conference on August 12, 2020, at 2:30 p.m. ET, and at KeyBanc Capital Markets’ Future of Technology Series on August 18, 2020, at 3:20 p.m. ET. Live webcasts of these presentations will be accessible on Sprout Social's investor relations website.
Sprout Social reported a strong second quarter for 2020 with total revenue of $31.4 million, a 27% increase year-over-year. The company has raised its full-year revenue guidance to between $128 million and $130.5 million, reflecting a projected growth of 26% at midpoint. The number of customers rose to 24,356, and those contributing over $10,000 in ARR increased by 54%. However, GAAP net loss was ($8.3 million), and cash reserves decreased to $129.5 million.
Sprout Social (Nasdaq: SPT) announced it will disclose its financial results for Q2 2020 after market closure on August 5, 2020. The company will host a conference call at 4:00 p.m. CT (5:00 p.m. ET) to discuss the results and business highlights. Callers from the U.S. can dial (877) 658-9099, while international participants can use (602) 563-8734 with conference ID 2484995. A replay will be available until August 12, 2020. Sprout Social provides social media management solutions to over 24,000 brands and agencies globally.
Sprout Social (Nasdaq: SPT) announced upcoming virtual presentations by its executives at notable investor conferences. CEO Justyn Howard, CFO Joe Del Preto, and SVP of Global Sales Ryan Barretto will present at the Stifel Virtual Cross Sector Insight Conference on June 9 at 11:20 a.m. ET and at the William Blair 40th Annual Growth Stock Conference on June 10 at 8:00 a.m. CT. Live webcasts will be accessible on Sprout's investor relations website, with archived replays available post-event. Sprout Social provides comprehensive social media management solutions for over 24,000 brands globally.
Sprout Social (Nasdaq: SPT) reported strong first quarter 2020 results, achieving total revenue of $30.5 million, a 31% year-over-year increase. Organic revenue grew by 41%, driven by a robust customer base now totaling 24,083. Despite a GAAP net loss of $10.5 million, the company revised its revenue guidance for 2020 to between $125.5 million and $130.5 million, reflecting a 25% growth mid-point. The outlook considers ongoing market conditions and the impact of COVID-19.
Sprout Social's 2020 Index reveals crucial trends in social media marketing. Nearly 90% of consumers prefer brands they follow on social media, with 75% increasing spending on these brands. Despite recognizing social media’s impact, marketers struggle to measure ROI effectively. Key objectives include boosting brand awareness (69%) and web traffic (52%). Additionally, timely responses are crucial, with 40% of consumers expecting replies within an hour. Visual platforms like Instagram and YouTube are favored by younger consumers, indicating shifts in engagement strategies that businesses must adapt to.