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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), a provider of cloud-based social media management software, has announced that its solutions have been added to the National Association of State Procurement Officials (NASPO) ValuePoint Cloud Solutions Contract held by Carahsoft Technology Corp. This addition enables Carahsoft and its reseller partners to provide Sprout Social's products to participating state and local government agencies.
The NASPO ValuePoint Cloud Solutions Contract is a cooperative purchasing program that facilitates public procurement solicitations and agreements using a lead-state model. It offers public entities outstanding pricing and competitively sourced contracts. Sprout Social's inclusion in NASPO's offerings expands the range of digital communication solutions available to State and Local agencies, allowing them to purchase the platform alongside other approved technologies from a single contract.
Sprout Social has launched a new integration with Salesforce's Agentforce assistant for Service Cloud, enabling customers to gather social media insights and enhance customer experiences. The integration provides a 360-degree customer view, allowing businesses to resolve cases faster and become more proactive in customer service.
Key features of the integration include:
- Incorporation of social data into Agentforce assistant
- Expanded capabilities across major social networks and review sites
- AI-driven guidance for service representatives
Sprout Social will showcase this integration at Dreamforce 2024, where they will also participate in sessions on leveraging AI, social data, and Salesforce for customer care and brand growth.
Sprout Social, a leading provider of social media management software, has announced new AI-powered innovations and updates to enhance its platform. The company is focusing on improving social customer care, recognizing that 80% of consumers now use social media for customer support more than a year ago. Key updates include:
1. Associated Messages: Provides a full historical view of case-related messages.
2. AI-powered Message Intent Classification: Helps prioritize high-priority messages.
3. Threads integration: Allows moderation and replies directly within Sprout's platform.
4. Analyze by AI Assist: Offers executive summary insights for reporting widgets.
5. Conversation Breakdown Widget: Combines data lenses like sentiment for trend analysis.
6. Comment Sentiment in Reports: Tracks audience response to content.
Sprout Social is also planning to launch LinkedIn integrations for improved B2B marketing capabilities.
Sprout Social (Nasdaq: SPT) has appointed Mike Wolff as Chief Revenue Officer, effective September 2, 2024. Wolff will oversee Sprout's global Sales, Success, and Partnerships organization, focusing on continued global growth and expansion of the company's innovative offerings. With over 20 years of experience, Wolff previously served as Chief Revenue Officer at Salesforce.org and led Salesforce's Global ISV team. During his 22-year career at Salesforce, he played a key role in scaling the company from less than $50M to $34.9B in annual revenue.
Wolff expressed enthusiasm for helping businesses leverage social media for smarter, faster business impact. Ryan Barretto, President and incoming CEO of Sprout Social, highlighted Wolff's exceptional track record and ability to build high-performing teams as assets for driving growth and efficiency goals while investing in impactful technology partnerships.
Sprout Social (Nasdaq: SPT) reported strong Q2 2024 financial results, surpassing guidance. Key highlights include:
- Revenue of $99.4 million, up 25% year-over-year
- Non-GAAP operating income of $5.3 million
- Non-GAAP net income per share of $0.09
- Total RPO of $295.1 million, up 43% year-over-year
- Customers contributing over $50,000 in ARR grew 38% to 1,545
The company reiterated its 2024 guidance, projecting total revenue between $405.0-$406.0 million and non-GAAP operating income of $28.0-$29.0 million. Sprout Social continues to strengthen its competitive position and product leadership in the social media management software market.
Sprout Social, a leading provider of cloud-based social media management software, has achieved significant recognition in G2's 2024 Summer Reports. The company earned leadership in 211 categories, including small business, mid-market, and enterprise segments across regions such as EMEA, APAC, and the Middle East.
Sprout Social was named G2's #1 Best Software Product for 2024, ranking #1 in 88 reports including Social Customer Service and Social Media Analytics. The company attributes its success to customer reviews and continuous innovations in AI, integrations, and new partnerships.
The company’s recent advancements include AI features, enhanced reporting, network integrations, and a new partnership with Snapchat. These enhancements are part of their strategy to support customers’ significant challenges and drive business impact.
Sprout Social (Nasdaq: SPT) announced plans to report its second quarter 2024 financial results on August 1, 2024, after market close. The results will cover the period ending June 30, 2024.
A conference call and webcast will take place at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) on the same day to discuss the financial results and business highlights. Interested parties can register for the event online, and the live webcast will be accessible through Sprout Social's investor relations website. A replay of the webcast will be available for 12 months following the event.
Sprout Social, a leading provider of cloud-based social media management software, has been named to the 2024 Fortune Best Workplaces in Chicago™ List for the third consecutive year. The recognition is based on nearly 50,000 confidential employee responses evaluating trust in leadership, fair treatment, and team camaraderie.
91% of Sprout Social employees stated it is a great place to work, significantly higher than the 57% average for typical U.S. companies. This achievement reflects Sprout's strong workplace culture and employee satisfaction. Additionally, Sprout Social has been featured on Crain's Fast 50 List for revenue growth and recognized as a Best Company to Work for: Midwest by U.S. News & World Report.
Sprout Social (Nasdaq: SPT), a leading provider of cloud-based social media management software, announced Erika Trautman's appointment as chief product officer effective July 15, 2024. Trautman, who has over 15 years of technology experience, will oversee the global product organization and enhance Sprout’s product offerings. Previously, she held senior roles at Atlassian, where she drove significant revenue growth, and at Google, where she advanced Google Drive and Editors during the pandemic. CEO Justyn Howard expressed excitement about Trautman's potential to accelerate Sprout’s product innovation and growth.
Sprout Social has introduced AI-powered enhancements and 20 new product capabilities aimed at optimizing social media strategies and customer engagement.
Key updates include 'Generate by AI Assist' for accurate alt-text, 'Analyze by AI Assist' for performance trends, and AI solutions that prioritize messages and automate responses.
A new partnership with Snapchat via Tagger enables better market trend exploration and audience connection.
The 'My Reports' interface offers flexible, granular reporting, while new Instagram Threads features enhance engagement and scheduling.
These innovations, gathered from feedback from 30,000 customers, aim to streamline workflows and increase business impact.
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