Loading...
•
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.
Sprout Social
Sprout Social
Sprout Social Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services and other Revenue
CapyFin.com 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.
- Non-GAAP net loss per share of between ($0.13) and ($0.12) for the full year 2022.
- Second quarter and 2022 financial outlook is based on a number of assumptions that are subject to change and many of which are outside the Company’s control, including the impact of the ongoing COVID-19 pandemic on our financial performance and customer demand.