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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 (NASDAQ: XM) reported Q1 2023 total revenue of $409.8 million, reflecting a 22% increase year over year, with subscription revenue at $339.8 million up 21%. The company's remaining performance obligations rose to $2,135.1 million, a 21% increase year over year, while the next 12 months' obligations reached $1,206.0 million, up 17%. Despite a q/q improvement, the operating loss was $(253.8) million, down from $(290.5) million. Non-GAAP operating income stood at $21.6 million, a notable recovery from $4.1 million a year prior. However, the net loss was $(259.0) million, or $(0.43) per share, better than $(292.3) million or $(0.51) a year ago. The firm has a strong cash position with $806.7 million in cash and equivalents.
Qualtrics (NASDAQ: XM) has been recognized as the top provider for Experience Management and Feedback Analytics by G2 for Spring 2023, achieving the highest rating for the second consecutive year.
The company secured over 30 leadership awards, including categories like Social Media Analytics and Proactive Customer Retention. Customers rated CoreXM as the best in survey solutions.
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Recent research from Qualtrics reveals that financial services firms are focusing on real-time, omni-channel listening and data analytics to enhance customer experience (CX) amid economic volatility. While 59% of executives view CX as a critical priority, a significant gap exists between leaders, who actively invest in feedback systems, and laggards. Key findings include 83% of leaders gathering non-survey feedback versus 52% of laggards. Additionally, human interaction remains essential during uncertain times, affecting CX metrics considerably. Qualtrics emphasizes the importance of understanding customer sentiment to foster trust and loyalty in this evolving landscape.
A recent study by Qualtrics reveals that while employees value formal mentorship programs for career advancement, fewer than one-third are participating. Conducted in partnership with Charter, the survey of 3,000 office-based employees highlights awareness and time constraints as key barriers. Although 86% of employees reported access to professional growth opportunities, only 30% indicated formal mentorship availability. The findings emphasize the need for organizations to enhance mentoring offerings as a means to improve employee engagement and retention, particularly in remote work environments.
Qualtrics (NASDAQ: XM) has partnered with the DAISY Foundation to enhance nursing recognition in healthcare globally. This collaboration will enable healthcare organizations to automate nominations for the DAISY Award through patient feedback after care. Qualtrics aims to empower organizations to foster a culture of gratitude, crucial amid rising burnout rates—38% of healthcare workers are reportedly at risk. The partnership is expected to drive new nominations, leveraging Qualtrics' technology to digitize the recognition process, ensuring that every nurse has the chance to be honored.
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