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Qualtrics, symbol XM, is a rapidly growing software-as-a-service company best known as the provider of the world’s leading insight platform. Over 8,000 enterprises globally, including half of the Fortune 100 and 99 of the top 100 business schools, rely on Qualtrics technology to capture valuable insights from customers, employees, and the market all in one place. These insights enable businesses to make informed, data-driven decisions.
Qualtrics offers a comprehensive suite to collect, analyze, and act on feedback, facilitating various applications such as customer satisfaction, employee engagement, 360-degree reviews, brand management, market research, and product concepts. The company’s clientele spans global enterprises, academic institutions, and government agencies.
Recent achievements include a partnership with Oculi Data to offer national benchmarking and reporting on nursing care metrics. This collaboration aims to enhance patient and nurse satisfaction by providing healthcare organizations with detailed data to support their Magnet Journey® and other quality improvement initiatives. The integration of Qualtrics’ patient and nurse satisfaction data with Oculi Data’s clinical metrics allows for a holistic approach to nursing excellence.
Qualtrics is also renowned for its flagship event, X4: The Experience Management Summit, which will return to Salt Lake City in May 2024. This event gathers over 10,000 professionals from various industries to discuss the latest trends and AI-powered innovations in experience management. Attendees have the opportunity to learn from industry leaders and gain insights into how experience management can make businesses more human.
Financially, Qualtrics is solid, backed by a vast universe of experience data forming the largest database of human sentiment in the world. The company operates from its co-headquarters in Provo, Utah, and Seattle, with 28 offices globally. The advanced AI technologies employed by Qualtrics help organizations listen, understand, and act on customer and employee feedback efficiently, ensuring secure data collection and analysis through HITRUST certification and FEDRAMP compliance.
Qualtrics reported an impressive financial performance for the fiscal year 2021, showcasing total revenue of $1,075.7M, a 41% increase year-over-year, and subscription revenue of $870.7M, up 51%. In Q4 2021, total revenue reached $316.0M, surging 48% year-over-year, with subscription revenue at $259.0M, a 61% rise. However, the company recorded a significant net loss of $1,059.1M for the year and an operating loss of $1,053.8M. Guidance for Q1 2022 indicates revenue between $324M and $326M, and full-year expectations of $1,402M to $1,406M.
Qualtrics (NASDAQ: XM) announced the appointment of Omar Johnson and Ritu Bhargava to its Board of Directors, expanding the board to 11 members. Johnson, a former marketing executive at Beats by Dre and Apple, is known for his innovation in brand-building and will serve on the audit committee. Bhargava, currently the Chief Product Officer at SAP Customer Experience, brings deep enterprise software expertise. Qualtrics CEO Zig Serafin expressed enthusiasm for their extensive backgrounds from leading tech companies.
Recent research from Qualtrics (Nasdaq: XM) reveals that 71% of U.S. workers believe COVID-19 will never fully disappear. Many employees are now resistant to wait for a "return to normal," with 39% wanting immediate changes to office-return plans. As Omicron spreads, 43% report being less cautious than before. Concerns over vaccine mandates persist, with 47% considering leaving their jobs if vaccination becomes mandatory. The findings highlight a critical need for employers to adapt to changing employee sentiments.
Qualtrics (Nasdaq: XM) reports that customer satisfaction is rebounding, now at two-thirds of its pre-pandemic levels. Key services during lockdown, like TV and Internet, have seen significant increases, with scores rising up to 244%. However, industries like airlines and car rentals remain below pre-pandemic levels, showing the most struggle. The NPS analysis indicates that while overall satisfaction is improving, the recovery varies significantly across sectors, underscoring a shift in consumer expectations and the value placed on innovation and convenience.
Qualtrics (NASDAQ: XM) will announce its fourth-quarter and full-year 2021 financial results on January 26, 2022, after market close. A conference call will follow at 3 p.m. MST to discuss the results with analysts and investors. The event will be accessible via live webcast on the Qualtrics Investor Relations website. As a leader in the Experience Management category, Qualtrics empowers over 13,500 organizations to utilize experience data, helping them enhance customer, employee, product, and brand experiences.
Qualtrics (NASDAQ: XM) has partnered with NASCAR to enhance fan engagement through real-time feedback. This collaboration aims to personalize fan experiences, adapting to evolving expectations post-pandemic. The Official NASCAR Fan Council will provide insights on various aspects of the NASCAR experience, allowing the organization to respond quickly to feedback. By utilizing Qualtrics technology, NASCAR can create memorable events for fans attending in person, watching at home, or on mobile devices.
Qualtrics (XM) announced a partnership with CLX Health to integrate their Vaccination & Testing Manager solution with CLX's TrustAssure platform. This collaboration will streamline the verification of COVID testing and vaccination documents for over 300 organizations currently using Qualtrics' solution. The aim is to enhance workplace safety by allowing organizations to efficiently manage employee health information. Recent research indicates mixed employee sentiment regarding vaccine mandates, highlighting the complexities organizations face in implementing these policies.
ServiceNow (NYSE: NOW) and Qualtrics (NASDAQ: XM) have launched integrated capabilities to enhance customer service experiences. By merging ServiceNow's digital workflows with Qualtrics' experience management tools, organizations can utilize real-time customer and employee data to optimize service delivery. This collaboration aims to reduce operational costs while improving customer loyalty and retention. Research indicates that 80% of consumers have switched brands due to poor service, highlighting the need for these innovations.
Qualtrics (NASDAQ: XM) has announced plans to establish an 85,000 square-foot office in Reston, VA, aiming to create 400 new tech jobs in the Washington metro area over the next five years. This expansion is part of a strategy to support increasing demand for experience management services. The new hub will focus on AI and machine learning innovation, enhancing the company's ability to support customer and employee engagement. Qualtrics has also recently acquired Clarabridge, boosting its omnichannel analytics capabilities.
Qualtrics (NASDAQ: XM) is set to invest $15.9 million in expansion within Fairfax County, Virginia, moving to a new 85,000 square foot facility. This project will generate 400 new jobs and follows Qualtrics’ recent acquisition of Clarabridge. Governor Ralph Northam announced the investment, supported by a $1.4 million grant and a $2 million Virginia Economic Development Incentive Grant. The expansion underscores Virginia's robust tech talent and the strategic growth opportunities for Qualtrics in the experience management software sector.
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