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Constant Contact has successfully completed its acquisition of SharpSpring (NASDAQ: SHSP), originally announced on June 22, 2021. The acquisition was approved by SharpSpring's stockholders on August 25, 2021, and as a result, SharpSpring will be delisted from NASDAQ. This acquisition aims to enhance Constant Contact's CRM capabilities, particularly in lead management, which is anticipated to provide broader opportunities for small businesses.
SharpSpring, Inc. (NASDAQ:SHSP) reported its second-quarter results for 2021, revealing total revenue of $8.1 million, an 11% increase from the previous year. The company announced a definitive agreement to be acquired by Clearlake Capital and Siris-backed Constant Contact at $17.10 per share in cash, expected to close in Q3 2021. Key performance indicators include a decrease in monthly recurring revenue from new customers, totaling $100,000, and a net loss of $354,000. The firm concluded the quarter with $25.2 million in cash.
SharpSpring, Inc. (NASDAQ:SHSP) will release its financial results for Q2 2021 on August 12, 2021, at 4:05 PM ET. The company will not conduct a conference call due to its recent merger agreement announced on June 22, 2021. SharpSpring operates as a cloud-based revenue growth platform, serving over 10,000 businesses globally. Known for affordability and innovation, it offers a Software-as-a-Service solution that helps companies enhance lead generation and marketing ROI.
Constant Contact has announced its acquisition of SharpSpring, Inc. (NASDAQ: SHSP) in an all-cash deal valued at approximately $240 million, which includes outstanding debt. The purchase price of $17.10 per share represents a 21% premium over SharpSpring's closing price of $14.11 as of June 21, 2021. This strategic acquisition, expected to close in Q3 2021, aims to enhance Constant Contact's offerings for small businesses by integrating SharpSpring's revenue growth and marketing automation platform.
SharpSpring, Inc. (NASDAQ:SHSP) reported a 13% revenue increase to $8.0 million for Q1 2021, driven by enhanced sales and marketing initiatives. Despite a net loss of $2.6 million, the company expects a revenue ramp in the second half of the year, targeting $34 million to $36 million for the fiscal year. Key developments include the appointment of Suaad Sait as President and Jason Costi to the Board of Directors. The firm's MRR from new customers was approximately $100,000, reflecting challenges from new marketing spends. However, overall net revenue retention improved to 94.4% year-over-year.
SharpSpring, Inc. (NASDAQ:SHSP) has announced a conference call scheduled for May 13, 2021, at 4:30 p.m. Eastern time, to discuss its financial results for the first quarter ended March 31, 2021. CEO Rick Carlson and CFO Aaron Jackson will lead the discussion followed by a Q&A session. Interested parties can dial in at 844-602-0380 (U.S.) or 862-298-0970 (International). A live broadcast will be available, with a replay option provided until May 27, 2021.
SharpSpring, Inc. (NASDAQ:SHSP) has appointed Jason Costi, a seasoned finance executive, to its board of directors effective April 20, 2021. Costi replaces David Buckel, who will not seek re-election at the upcoming annual shareholder meeting. Costi, with nearly 20 years in finance and capital markets, has held leadership roles, including CFO at Bonobos and Casper Sleep, where he helped grow revenue significantly. The board will maintain five directors post-change, with four being independent. The company's leadership anticipates leveraging Costi's expertise to enhance growth strategies.
SharpSpring (NASDAQ:SHSP) reported strong financial results for Q4 and the full year 2020, achieving record revenues of $7.7 million for the quarter and $29.3 million for the year, increasing by 25% and 29% respectively. Despite this growth, the company faced a net loss of $2.3 million in Q4 and $5.8 million for the year. Key performance indicators showed improved net revenue retention at 91.7%, marking a return to pre-COVID levels. The company raised $13.9 million to enhance future growth initiatives and expects 2021 revenues between $34 million and $36 million.
SharpSpring, Inc. (NASDAQ:SHSP) announced a conference call scheduled for March 16, 2021 at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2020. CEO Rick Carlson and CFO Aaron Jackson will lead the call, which includes a Q&A session. Interested participants can call in using the U.S. number 877-545-0320 and the international number 973-528-0016. The financial results will be released prior to the call, which will also be available for replay after the event.
SharpSpring, Inc. (NASDAQ:SHSP) has been recognized for excellence in the Marketing Automation software category by TrustRadius, achieving first place for Best Usability, Best Feature Set, and Best Customer Support. This marks the fourth consecutive year that SharpSpring has received these accolades, demonstrating strong user satisfaction.
These awards are based solely on customer feedback, reinforcing SharpSpring's commitment to enhancing user experiences through effective email marketing, integrated CRM, and workflow automation tools.
