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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) has been selected by Beneva, Canada's largest mutual insurance company, to implement CustomerXM™. This platform aims to enhance customer satisfaction by enabling real-time feedback and centralized insights across departments. By integrating with Beneva's service and call center software, Qualtrics will facilitate swift issue resolution and improve customer experience. This partnership reflects Beneva's commitment to a more personalized customer care approach, allowing them to act on feedback effectively.
Qualtrics (NASDAQ: XM) reported strong financial results for Q2 2021, with revenue hitting $249.3 million, a 38% increase year-over-year. Subscription revenue rose to $204.5 million, an impressive 48% growth. Despite an operating loss of $(273.7) million, non-GAAP operating income was $11.5 million. The net loss stood at $(263.5) million or $(0.51 per share. For Q3, the company forecasts revenue between $257-$259 million and updates 2021 revenue guidance to $1,007-$1,011 million.
Qualtrics (Nasdaq: XM) announced that Banco Galicia, a leading Argentine financial institution, has adopted Qualtrics EmployeeXM™ to enhance employee feedback mechanisms. This strategic move aims to improve the employee experience and foster a data-driven culture. Banco Galicia, recognized as one of the best places to work in Argentina, will use EmployeeXM to measure workplace climate and identify critical touchpoints in the employee journey. Real-time feedback will allow leadership to address concerns promptly, ultimately enhancing employee loyalty and engagement.
Qualtrics (Nasdaq: XM) will reveal its second-quarter 2021 financial results following market close on July 20, 2021. A conference call with the investment community is scheduled for 3:00 p.m. Mountain Time to discuss the financial report. The call will be streamed live via the Qualtrics Investor Relations website. As a leader in Experience Management (XM), Qualtrics serves over 13,500 organizations worldwide, utilizing experience data (X-data™) to enhance customer, employee, product, and brand experiences.
Qualtrics (Nasdaq: XM) has partnered with the Society for Human Resource Management (SHRM) to standardize on the Qualtrics Experience Management platform. This collaboration aims to enhance employee engagement initiatives among SHRM's 300,000 members in 165 countries. Leveraging the Qualtrics XM Platform, SHRM will offer tools for organizations to scale employee experience programs, fostering innovation and employee connection. The partnership comes at a pivotal moment as businesses adapt to a post-pandemic workforce, emphasizing the need for data-driven employee engagement strategies.
Qualtrics (Nasdaq: XM) released a study revealing that 53% of managers and directors, and 51% of executives, plan to seek new jobs within the next year, mirroring a broader trend as nearly half of the U.S. workforce considers the same. The study highlights burnout, stress, and lack of professional growth opportunities as primary reasons for job changes. With U.S. job openings at a record 9.3 million, companies must prioritize employee insights to retain talent. The study also points to gender disparities in mentoring opportunities and emphasizes the tech sector's unique priorities.
On June 16, 2021, EY, SAP, and Qualtrics (Nasdaq: XM) announced their collaboration to aid governments and businesses in combating COVID-19. Their solutions, including contact tracing and vaccine management, have significantly improved vaccination processes, with Missouri's Vaccine Navigator registering 750,000 individuals and processing over 270,000 vaccinations. EY's Proximity Monitor is also facilitating safe event management. Recognized for excellence, EY received multiple awards for its COVID-19 response initiatives, showcasing the impact of their technology on public health and safety.
Qualtrics (Nasdaq: XM) and Genesys have partnered to enhance customer service experiences by integrating engagement and experience data. This collaboration will enable companies to gain insights from both previous customer interactions and sentiment analysis, fostering improved customer satisfaction. The partnership aims to drive customer loyalty and reduce churn by offering personalized, empathetic service across multiple channels. The integration is currently available on both the Qualtrics Marketplace and Genesys AppFoundry, with more features expected later this year.
Qualtrics (Nasdaq: XM) announced new digital experience solutions aimed at helping B2B and B2C organizations enhance their online offerings. According to the Qualtrics XM Institute, over 75% of consumers have initiated new digital activities due to the pandemic. The solutions focus on Web UX Optimization, E-Commerce Experience Optimization, and Digital Journey Optimization to improve customer interactions and drive growth. The tools leverage experience and behavioral data to understand customer needs, streamline conversion processes, and ultimately foster brand loyalty.
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