Sprout Social Announces Two Major Growth Milestones

Rhea-AI Summary

Sprout Social (Nasdaq: SPT) announced it has surpassed $200 million in annual recurring revenue (ARR) and now serves over 30,000 customers globally. This milestone highlights the company's accelerated growth and market presence, with a doubling of ARR in approximately two years. CEO Justyn Howard and President Ryan Barretto emphasized the importance of customer focus and the execution of their teams. They anticipate continued progress and innovation as they engage with stakeholders during their first investor day.

Positive

• Surpassed $200 million in annual recurring revenue (ARR).
• Doubled ARR in roughly two years, indicating accelerated growth.
• Serves over 30,000 customers globally, showcasing market expansion.

Negative

• None.

CHICAGO, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Today, Sprout Social, Inc. (“Sprout Social”, the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, announced it has surpassed $200 million in annual recurring revenue (ARR). Additionally, Sprout now serves more than 30,000 customers across the globe, underscoring both its market expansion and accelerated growth rate.

“Our customers are at the core of everything we do; the fact that more than 30,000 of the world’s best brands choose Sprout both humbles and motivates our team,” said Justyn Howard, CEO and Co-Founder of Sprout Social. “At a time when social has never been more critical to business success, we’re excited to deliver new and innovative value for the entirety of our growing customer base.”

“$200 million in ARR is a remarkable achievement for our company,” said Ryan Barretto, President of Sprout Social. “We’ve doubled ARR in roughly two years and we’re growing at a faster pace at $200 million than at $100 million, which is a true testament to the execution of our teams. We’re happy to celebrate these milestones, but we also believe that the best is yet to come.”

Sprout’s leadership team will discuss these milestones as well as their vision, people and product at their first investor day today. Registration for the virtual-only event can be found at http://sproutsocial.com/investor-day and the event will also be webcast live in this location.

About Sprout Social
Sprout Social offers deep social media listening and analytics, social management, customer care, commerce and advocacy solutions to more than 30,000 brands and agencies worldwide. Sprout’s unified platform integrates the power of social throughout every aspect of a business and enables social leaders at every level to extract valuable data and insights that drive their business forward. Headquartered in Chicago, Sprout operates across major social media networks, including Twitter, Facebook, Instagram, Pinterest, YouTube and LinkedIn.

Availability of Information on Sprout Social’s Website and Social Media Profiles
Investors and others should note that Sprout Social routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission (SEC) filings, press releases, public conference calls, webcasts and the Sprout Social Investors website. We also intend to use the social media profiles listed below as a means of disclosing information about us to our customers, investors and the public. While not all of the information that the Company posts to the Sprout Social Investors website or to social media profiles is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in Sprout Social to review the information that it shares at the Investors link located at the bottom of the page on www.sproutsocial.com and to regularly follow our social media profiles. Users may automatically receive email alerts and other information about Sprout Social when enrolling an email address by visiting "Email Alerts" in the "Shareholder Services" section of Sprout Social's Investor website at https://investors.sproutsocial.com/.

Social Media Profiles:
www.twitter.com/SproutSocial
www.twitter.com/SproutSocialIR
www.facebook.com/SproutSocialInc
www.linkedin.com/company/sprout-social-inc-/
www.instagram.com/sproutsocial

Contact

Media:
Kaitlyn Gronek
Email: pr@sproutsocial.com
Phone: (773) 904-9674

Investors:
Jason Rechel
Twitter: @SproutSocialIR
Email: jason.rechel@sproutsocial.com
Phone: (312) 528-9166

FAQ

What is Sprout Social's annual recurring revenue (ARR) as of September 2021?

Sprout Social's annual recurring revenue (ARR) has surpassed $200 million as of September 2021.

How many customers does Sprout Social serve?

As of September 2021, Sprout Social serves over 30,000 customers worldwide.

What significant achievement did Sprout Social announce on September 22, 2021?

On September 22, 2021, Sprout Social announced it surpassed $200 million in ARR.

What can investors expect from Sprout Social's first investor day?

Investors can expect discussions on milestones, vision, and product innovations at Sprout Social's first investor day.