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 announced a Total Economic Impact™ study revealing that its customers achieved a remarkable 233% ROI and a net present value (NPV) of $1.3 million over three years, with a payback period of less than six months. The study, conducted by Forrester Consulting, highlights how Sprout Social improves productivity while reducing costs through its social media management tools.
Key findings include: $973K in productivity efficiencies, an 85% increase in organic reach saving $233K in paid media, and a 92% improvement in customer service efficiency. These results illustrate the platform's ability to streamline social strategies and significantly cut reliance on paid advertising, enabling brands to connect better with their customers.
Sprout Social, a leading provider of social media management software, announced on April 10, 2023, an array of new AI features designed to enhance its platform. Integrating OpenAI's GPT model with its proprietary machine learning capabilities, these features will improve functionalities in listening, publishing, customer care, and advocacy. The enhancements also include the introduction of Smart Query Suggestions, currently in beta, aimed at optimizing insights in social media engagement. By incorporating advanced sentiment analysis from its recent acquisition of Repustate, Sprout aims to empower brands to realize greater business impact from social media efforts. CEO Justyn Howard emphasized the importance of delivering tailored AI solutions to meet the evolving needs of customers, ultimately aiming to unlock higher returns on investment from their social strategies.
Sprout Social (Nasdaq: SPT) announced it will report its financial results for Q1 2023 on May 2, 2023, after market close. The results will be discussed in a conference call and webcast at 4:00 p.m. CT. The event can be accessed through their investor relations website, and a replay will be available for 12 months post-event. Sprout Social provides social media management software to over 34,000 brands and agencies globally, offering solutions that include social media listening, analytics, and customer care. This announcement highlights the company's commitment to transparency and keeping investors informed about its financial performance.
Splitit has launched its Checkout Plugin for SAP Commerce Cloud, enabling merchants to offer one-click installments with reduced integration costs. This integration targets large enterprises that require a streamlined solution for advanced B2B, B2C, and B2B2C use cases. The plugin allows merchants to customize their checkout experience and embed Splitit's Installments-as-a-Service smoothly into their existing workflows. This initiative is part of Splitit's strategy to enhance its offerings and strengthen its position in the Buy Now, Pay Later (BNPL) market, aiming to elevate customer experience and increase conversion rates.
Sprout Social, Inc. (Nasdaq: SPT) reported strong fourth-quarter results for 2022, with revenue reaching $69.7 million, a 31% increase year-over-year. The company's Annual Recurring Revenue (ARR) grew 32% to $296.6 million. Despite a GAAP operating loss of ($13.1) million, non-GAAP operating income of $0.6 million marks an improvement. The company anticipates 31% revenue growth for Q1 2023, projecting total revenue of $75 million. For the full year, Sprout expects revenue between $332 to $333 million. The total number of customers also increased to 34,390, with significant growth in high-value customer segments.
Sprout Social (Nasdaq: SPT) announced the acquisition of Repustate, enhancing its social media management platform with advanced sentiment analysis and natural language processing capabilities. This acquisition aims to bolster Sprout's customer care and social listening features through AI-driven technology. CEO Justyn Howard emphasized that this addition would deepen the company's technological offerings. CFO Joe Del Preto indicated that the financial impact is expected to be immaterial in the near term but anticipates positive contributions to medium-term growth targets from 2024 onwards.
Sprout Social has been recognized as one of the Best Places to Work in 2023 by Glassdoor for small and medium companies. This marks the fourth consecutive year the company has received this accolade, ranking 15th out of 50. The recognition is based on employee reviews regarding job satisfaction, work environment, and employer practices. CEO Justyn Howard emphasized the team’s resilience and commitment to fostering a thriving culture, especially amidst an uncertain job market.
Sprout Social, Inc. (Nasdaq: SPT) will announce its fourth-quarter financial results for 2022 on February 21, 2023, after market close. The company will hold a conference call and webcast at 4:00 p.m. CT to discuss these results and business highlights. Sprout Social provides social media management solutions to over 34,000 brands globally, enabling businesses to leverage social insights for growth. The event's details are available on Sprout's investor relations website, with a replay accessible for 12 months post-event.
Sprout Social, a leader in cloud-based social media management software, will have its senior management participate in the 25th Annual Needham Growth Conference on January 11, 2023, at 1:15 PM CT. A live webcast of the presentation will be available on the Sprout Social investor relations website, with an archived replay accessible for 90 days. The company serves over 34,000 brands and agencies globally, providing comprehensive social media solutions that integrate analytics and management across major platforms like Twitter, Facebook, Instagram, and others.
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