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Dec 31, 2023
Sprout Social Q4 2023 Earnings Report
Sprout Social's Q4 2023 financial results were announced, showcasing growth and strategic advancements.
Key Takeaways
Sprout Social reported a revenue of $93.6 million, a 34% increase compared to Q4 2022. The company's ARR reached $385.2 million, marking a 30% year-over-year growth. While GAAP operating loss was ($18.2) million, non-GAAP operating income stood at $1.7 million.
Revenue increased by 34% year-over-year, reaching $93.6 million.
ARR grew to $385.2 million, a 30% increase compared to the previous year.
GAAP operating loss was ($18.2) million, while non-GAAP operating income was $1.7 million.
The company expanded its customer base with key additions and renewals.
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 Q1 2024, Sprout Social anticipates revenue between $97.2 million and $97.3 million, with non-GAAP operating income between $0.6 million and $0.7 million. Full year 2024 revenue is projected to be between $425.3 million and $425.5 million, with non-GAAP operating income between $15.0 million and $16.0 million.
Positive Outlook
- Expects Q1 2024 revenue between $97.2M and $97.3M, reflecting growth greater than 29%.
- Projects Q1 2024 non-GAAP operating income between $0.6M and $0.7M.
- Anticipates full year 2024 revenue between $425.3M and $425.5M.
- Forecasts full year 2024 non-GAAP operating income between $15.0M and $16.0M.
- Implies roughly 220bps year-over-year Non-GAAP operating margin improvement for full year 2024.
Challenges Ahead
- Outlook is based on assumptions that are subject to change and outside of the Company’s control.
- There can be no assurance that the Company will achieve these results.
- Company does not provide guidance for operating loss.
- Company does not provide guidance for net loss per share.
- Company does not provide guidance for operating margin.
Revenue & Expenses
Visualization of income flow from segment revenue to net income