Sprout Social, Inc - SPT STOCK NEWS

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.

Sprout Social announced new integrations with Microsoft Dynamics 365, HubSpot, and Zendesk, enhancing internal collaboration for customer service teams. These integrations allow social and support teams to work seamlessly with sales, improving efficiency in managing customer interactions. According to Andrew Caravella, VP of Global Partnerships, these integrations combat departmental silos, enabling brands to leverage rich customer engagements. Sprout Social supports over 20,000 brands globally, providing comprehensive social media solutions.