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Mar 31, 2022
Sprout Social Q1 2022 Earnings Report
Sprout Social's Q1 2022 financial results were announced, exceeding the guidance range with strong ARR growth.
Key Takeaways
Sprout Social reported a strong first quarter in 2022, with revenue up 41% year-over-year to $57.4 million and ARR up 39% to $239.1 million. The company exceeded its guidance range and raised its full-year outlook, expecting continued growth and improved efficiency.
Total revenue was $57.4 million, a 41% increase compared to Q1 2021.
ARR reached $239.1 million, up 39% year-over-year.
The number of customers grew to 32,800, representing a 17% increase year-over-year.
The company partnered with Salesforce and announced a $100,000 annual contribution to Howard University.
Revenue by Segment
Forward Guidance
For Q2 2022, Sprout Social expects total revenue between $60.2 million and $60.3 million, and for the full year 2022, revenue between $252 million and $253 million.
Positive Outlook
- Total revenue between $60.2 million and $60.3 million for Q2 2022, representing 35% year-over-year growth.
- Non-GAAP operating loss between ($3.2) million and ($3.0) million for Q2 2022.
- Non-GAAP net loss per share of approximately ($0.06) for Q2 2022.
- Total revenue between $252 million and $253 million for the full year 2022, representing 34% to 35% year-over-year growth.
- Non-GAAP operating loss between ($6.4) million and ($5.8) million for the full year 2022.
Challenges Ahead
- Non-GAAP operating loss between ($3.2) million and ($3.0) million for Q2 2022.
- Non-GAAP net loss per share of approximately ($0.06) for Q2 2022.
- Non-GAAP operating loss between ($6.4) million and ($5.8) million for the full year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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