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. (NASDAQ: SPT) is a global leader in social media management and analytics software. The company offers a cloud-based platform that unifies social messaging, data, and workflows into a single system of record, intelligence, and action. This allows brands to find, form, and deepen connections with their social audiences.
Sprout Social generates the majority of its revenue from software subscriptions, serving over 30,000 brands worldwide. Their intuitive platform provides comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software is compatible with all major social media networks and digital platforms.
One of the company's notable achievements is the creation of The Arboretum, a community platform that fosters industry connection and mentorship. Recently, Sprout Social introduced a mentorship program within The Arboretum, which has quickly grown to over 10,000 members. This initiative supports marketing and social media professionals by providing opportunities to expand their professional brands, optimize Sprout’s platform, and stay competitive in a fast-paced industry.
Sprout Social has received significant recognition, including being named the #1 Best Software Product by G2's 2024 Best Software Award. The company's recent launch of enhanced AI and automation features aims to improve social strategies and deepen customer connections, addressing challenges in content creation, reporting, and social care.
Financially, Sprout Social is focused on achieving durable, efficient growth. With a recent leadership transition appointing Ryan Barretto as the new CEO, the company aims to scale its business to $1 billion and beyond. This strategic leadership change is expected to drive future growth and innovation.
Sprout Social continues to leverage its social media profiles and investor relations website to communicate material information to investors and the marketplace. For the latest updates, visit sproutsocial.com.
Sprout Social (Nasdaq: SPT) announced the appointment of Thomas Stanley, former Chief Revenue Officer at Tanium, to its board of directors, effective June 16, 2021. Stanley brings over two decades of experience in technology sales and go-to-market strategies. CEO Justyn Howard expressed optimism about Stanley's ability to contribute to the company's growth and customer engagement initiatives. With a commitment to social media management solutions, Sprout Social serves over 28,000 brands and aims to leverage Stanley's expertise to enhance its market position.
Sprout Social's 2021 Index reveals that 93% of marketers believe social media has intensified industry competition. The survey, covering 1,000 U.S. marketers, highlights the importance of social media in understanding audiences and enhancing brand differentiation. 86% of marketers use competitor insights from social platforms, yet only 15% measure ROI with social data. The findings indicate that consumers increasingly expect excellent customer service on social, and 90% will purchase from brands they follow on these platforms.
Sprout Social announced the phased rollout of Messenger API support for Instagram, enhancing its integration with the platform. This update allows businesses to manage incoming messages from Instagram in a centralized inbox, improving customer engagement. Nearly 80% of consumers expect brands to interact meaningfully on social media, making this feature crucial for businesses aiming to connect efficiently. Andrew Caravella, VP of Global Partnerships at Sprout Social, emphasized that this addition meets customer demand and facilitates impactful workflows.
Sprout Social, a leader in cloud-based social media management software, announced its participation in several upcoming virtual investor events. Management will present at the Barclays Americas Select Franchise Conference on May 19, the William Blair 41st Annual Growth Stock Conference on June 2, Stifel Cross Sector Insight Conference on June 8, Baird Global Consumer, Technology & Services Conference on June 9, and the Bank of America Global Technology Conference on June 10. Live webcasts and archived replays will be available on Sprout Social's investor relations website.
Sprout Social (SPT) reported strong Q1 2021 results with total revenue of $40.8 million, up 34% year-over-year, and a record 28,122 customers. The company achieved positive free cash flow for the first time, with operating loss improving significantly. Adjusted revenue guidance for FY 2021 has been raised to between $176 million and $177 million, reflecting a growth of 32% to 33%. Despite a GAAP net loss of $6.4 million, the outlook remains optimistic, bolstered by strong customer acquisition and retention.
Sprout Social, Inc. (Nasdaq: SPT) will report its Q1 2021 financial results on May 4, 2021, after market close. A conference call to discuss the results is scheduled for 4:00 p.m. CT (5:00 p.m. ET) on the same day. Investors can register for the call and access the live webcast through the company's investor relations website. Sprout Social provides cloud-based social media management software to over 26,000 brands and agencies globally, helping businesses leverage social media for deeper customer engagement and analytics.
Sprout Social recently released findings from a survey showing a significant trend towards increased reliance on social media for business strategies. 91% of business executives expect their social media budgets to rise in the next three years, with 62% of consumers believing that companies lacking a strong social media presence will fail. The survey highlights that 95% of executives anticipate using social data beyond marketing, and 78% of consumers are more likely to purchase after positive social media interactions.
Sprout Social (Nasdaq: SPT) reported a fourth quarter revenue of $37.3 million, marking a 33% increase year-over-year, and anticipates 30% revenue growth for 2021. Total annual revenue for 2020 reached $132.9 million, up 29%. The company had 26,718 customers by year-end, up from 25,556 in Q3 2020. Both GAAP and non-GAAP net losses improved compared to Q4 2019. Cash and equivalents stood at $163.9 million. The outlook for Q1 2021 includes revenue between $39.6 and $39.7 million and a non-GAAP operating loss of $5.4 to $5.0 million.
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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