Sprout Social Inc Stock Price, News & Analysis

Sprout Social, Inc. (Nasdaq: SPT) reported Q3 2022 revenue of $65.3 million, a 33% increase year-over-year, with an Annual Recurring Revenue (ARR) of $271.3 million, also up 33%. Despite a GAAP operating loss of ($14.4) million, the company has raised its annual growth guidance, expecting continued strong performance in Q4. The projected total revenue for Q4 ranges from $69.8 million to $69.9 million, indicating 31% growth year-over-year. Cash and equivalents stood at $181.9 million as of September 30, 2022, marking a slight increase from the previous quarter.

Sprout Social, Inc. (Nasdaq: SPT) has announced its upcoming financial results for the third quarter ending September 30, 2022. The report will be released after market close on November 3, 2022. Following the release, a conference call and webcast will take place at 4:00 p.m. Central Time, providing insights into the Company's performance. Sprout Social serves over 33,000 brands globally, offering a comprehensive suite of social media management solutions. Investors can access the conference call through the Company’s investor relations website.

Sprout Social has launched its rebranded Employee Advocacy solution, allowing brands to amplify their social media presence through employee participation. Over 68% of marketers are utilizing advocacy programs to increase brand awareness and lead generation. The solution allows users to manage social posts and track engagement metrics, enhancing brand outreach significantly. For example, Ivanti reported an increase from 1 million to 17 million in reach within six months, attributing $500k in earned media value monthly to this initiative.

Sprout Social announced a new integration with Salesforce Service Cloud, enhancing customer interaction management. This integration allows brands to manage social customer care requests within Service Cloud, enriching CRM profiles with social data for a comprehensive customer view. Additionally, it incorporates Salesforce's Marketing Cloud Intelligence, providing automated social insights for marketing dashboards. This partnership aims to meet evolving consumer behaviors and expectations, establishing Sprout Social as the preferred solution for Salesforce customers seeking an omni-channel customer experience.

Sprout Social (Nasdaq: SPT) announced participation in two upcoming investor events: the Keybanc Technology Leadership Forum on August 9th and the Canaccord Growth Conference on August 11th, both starting at 10:00 AM CT. Investors can access live webcasts of the presentations on Sprout Social’s investor relations website, with archived replays available later.

Sprout Social provides cloud-based social media management solutions to over 33,000 brands globally, enhancing business operations through data-driven insights. For more details, visit their investor relations page.

Sprout Social has integrated Instagram Reels into its video management capabilities, enhancing its platform for brands focusing on short-form video content. This new feature allows users to efficiently plan, publish, and analyze Instagram Reels alongside TikTok, increasing engagement and optimizing brand strategies. President Ryan Barretto highlighted the growing popularity of short-form video as critical for long-term social and business success. The integration aims to streamline video content management, supporting over 32,000 brands globally.

Sprout Social reported a robust Q2 2022 with revenue of $61.4 million, a 37% increase year-over-year. The company's ARR grew to $256.1 million, marking a 35% rise year-over-year. However, GAAP operating loss expanded to ($14.5 million), up from ($5.3 million) the previous year. The customer base increased by 14% to 33,620, with substantial growth in high-value accounts. For Q3 2022, Sprout Social anticipates revenue between $64.9 million and $65.0 million, reflecting over 32% year-over-year growth.

Sprout Social's recent study shows that 74% of marketers plan to allocate at least 25% of their social media budget to creator partnerships in the next 3-6 months. Challenges include budget constraints (45%), lack of resources (36%), and difficulties in finding aligned creators (34%). Primary goals for collaborating with creators are increasing audience engagement (62%) and reaching new audiences (60%). Instagram (58%), Facebook (51%), and TikTok (50%) are preferred platforms for collaborations, with educational content ranked highest among desired formats.