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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's recent study shows that 74% of marketers plan to allocate at least 25% of their social media budget to creator partnerships in the next 3-6 months. Challenges include budget constraints (45%), lack of resources (36%), and difficulties in finding aligned creators (34%). Primary goals for collaborating with creators are increasing audience engagement (62%) and reaching new audiences (60%). Instagram (58%), Facebook (51%), and TikTok (50%) are preferred platforms for collaborations, with educational content ranked highest among desired formats.
Sprout Social (Nasdaq: SPT) will report its second-quarter financial results on August 2, 2022, after market close. A conference call and webcast will follow at 4:00 p.m. CT, accessible via Sprout's investor relations website. The company offers comprehensive social media management solutions to over 32,000 clients globally, enhancing social media analytics, customer care, and advocacy.
Investors can find more details on material information through SEC filings, press releases, and the company's social media profiles.
Sprout Social (Nasdaq: SPT) announced that its senior management will participate in several upcoming investor events. These include the 42nd Annual William Blair Growth Stock Conference on June 7 at 2:00 PM CT, the Baird 2022 Global Consumer, Technology & Services Conference on June 8 at 12:25 PM CT, and the Stifel 2022 Cross Sector Insight Conference on June 9 at 2:00 PM CT. Live webcasts will be accessible on Sprout Social’s investor relations website, with archived replays available afterwards.
Sprout Social has announced a new partnership with TikTok as part of the TikTok Marketing Partner Program. This integration gives Sprout users enhanced capabilities including TikTok video scheduling, comment management, and performance analytics. With nearly 50% of TikTok's 1 billion users reporting purchases influenced by the platform, this move aims to help brands optimize their video strategies for better revenue results. CEO Justyn Howard highlighted the importance of social media as a central point in brand-customer relationships.
Sprout Social’s 2022 Index reveals a gap between marketer enthusiasm and consumer readiness for the metaverse. While 67% of marketers plan to allocate a quarter of their budgets to metaverse strategies, only 24% of consumers expect to use it in the next year. The report highlights a shift towards short-form video, with 38% of consumers intending to use TikTok, a significant increase from 17% in 2020. Additionally, 51% of consumers plan to engage more with YouTube, despite 35% of marketers decreasing its use in their strategies.
Sprout Social reported a strong first quarter of 2022, achieving a total revenue of $57.4 million, up 41% year-over-year.
Annual recurring revenue (ARR) reached $239.1 million, marking a 39% increase from the previous year. Despite a GAAP net loss of $9.8 million, improvements in non-GAAP metrics highlighted operational efficiency. The company also grew its customer base to 32,800, with notable growth in significant contributors. For Q2 2022, revenue guidance is between $60.2 million and $60.3 million, reflecting a 35% year-over-year growth.
Sprout Social (Nasdaq: SPT) announced it will report its Q1 2022 financial results after market close on May 3, 2022. The company will host a conference call and webcast to discuss these results at 4:00 p.m. CT (5:00 p.m. ET) on the same day. Sprout Social, a leading provider of cloud-based social media management software, serves over 31,000 brands worldwide. Investors can access the live webcast and subsequent replay through the company’s investor relations website.
Sprout Social announced a $100,000 annual contribution to Howard University School of Business for establishing the Center for Digital Business. This initiative will support curriculum development, hiring of staff, and provide technology for research over the next two years. The Center will focus on academic offerings, experiential learning, and job readiness for students. Sprout plans to integrate its technology into three courses and offer mentorship programs to enhance students’ skills in social media marketing and entrepreneurship.
Sprout Social and Salesforce have announced a global partnership allowing Salesforce customers to utilize Sprout's comprehensive social media management suite. This collaboration will enable enhanced customer engagement, streamlined publishing workflows, and effective social analytics. With integrations into Salesforce's Service Cloud, Sales Cloud, and Slack, businesses can create a unified view of their customers. Ryan Barretto, President of Sprout, emphasized the partnership's potential to strengthen customer connections, while Salesforce aims to provide companies with a 360° customer view.
Sprout Social (Nasdaq: SPT) announced its participation in key investor events in March 2022, including:
- Keybanc Emerging Technology Summit on March 9 at 1:30 PM CT
- Morgan Stanley Technology, Media & Telecom Conference on March 10 at 3:50 PM CT
- Barclays Spring Virtual Software Tour on March 15 at Noon CT
Live webcasts will be available on the company's investor relations website, with archived replays afterward. Sprout Social offers cloud-based social media management solutions to over 31,000 brands worldwide, enhancing their digital marketing efforts.
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