NASDAQ$SPT
Sprout Social Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Sprout Social's Q3 2024 results were announced, showcasing revenue growth and increased adoption by larger customers.
Sprout Social reported a solid third quarter with a 20% increase in revenue and a 31% growth in cRPO. The company is focused on product leadership and expanding its competitive position within the Enterprise segment.
- Revenue increased by 20% compared to the third quarter of 2023, reaching $102.6 million.
- GAAP operating loss improved to ($16.9) million, compared to ($24.2) million in the third quarter of 2023.
- The number of customers contributing over $10,000 in ARR grew by 12% year-over-year, reaching 9,119 customers.
- The number of customers contributing over $50,000 in ARR increased by 29% year-over-year, reaching 1,610 customers.
Headline financials
Revenue & EPS history
Sprout Social · Revenue · Quarterly
$103M
Revenue by segment
Sprout Social · $85.5M total across 2 segments · Q3 2023
- Subscription$84.8M+31.4%99.1%
- Professional services and other$730K-5.3%0.9%
Forward guidance
For the fourth quarter of 2024, Sprout Social anticipates total revenue between $106.3 million and $107.1 million, and non-GAAP operating income between $8.7 million and $9.5 million. The company projects non-GAAP net income per share of between $0.15 and $0.16 based on approximately 57.6 million weighted-average shares outstanding.
Tailwinds
- Total revenue between $106.3 million and $107.1 million.
- Non-GAAP operating income to be between $8.7 million and $9.5 million.
- Non-GAAP net income per share of between $0.15 and $0.16 based on approximately 57.6 million weighted-average shares of common stock outstanding.
- Total revenue to be between $405.1 million and $405.9 million for the full year 2024.
- Non-GAAP operating income between $27.5 million and $28.3 million for the full year 2024.
Headwinds
- The Company’s fourth quarter and 2024 financial outlook is based on a number of assumptions that are subject to change and many of which are outside the Company’s control.
- If actual results vary from these assumptions, the Company’s expectations may change.
- There can be no assurance that the Company will achieve these results.
- The Company does not provide guidance for operating loss.
- The Company does not provide a reconciliation between its forecasted non-GAAP operating income, non-GAAP net income per share and non-GAAP operating margin and these comparable GAAP measures without unreasonable effort due to the unavailability of reliable estimates for certain items.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.9%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+4.8%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+26.8%
Q1 2020
Best reaction
-42.3%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +9.0% | -7.2% | +6.5% | |
| Q4 2025 | -9.6% | -5.1% | -22.2% | |
| Q3 2025 | -3.6% | +0.9% | +4.5% | |
| Q1 2025 | +9.5% | +11.0% | -0.4% | |
| Q4 2024 | +3.1% | -1.1% | -17.4% | |
| Q3 2024 | -8.9% | -1.8% | +10.6% | |
| Q2 2024 | -15.7% | -21.9% | -20.4% | |
| Q1 2024 | -42.3% | -45.7% | -34.6% | |
| Q4 2023 | -5.2% | -1.3% | -7.7% | |
| Q3 2023 | +9.7% | +16.4% | +40.2% | |
| Q2 2023 | -11.2% | -11.4% | +0.2% | |
| Q1 2023 | -15.3% | -21.3% | -14.0% | |
| Q4 2022 | +4.0% | +2.1% | +6.4% | |
| Q3 2022 | +1.9% | +12.9% | +31.9% | |
| Q2 2022 | +13.4% | +18.2% | +10.8% | |
| Q1 2022 | -9.3% | -19.2% | -7.8% | |
| Q4 2021 | +1.5% | +22.1% | +54.3% | |
| Q3 2021 | -2.7% | -3.0% | -20.6% | |
| Q2 2021 | +13.5% | +18.0% | +39.1% | |
| Q1 2021 | -5.6% | -2.8% | +3.0% | |
| Q4 2020 | +9.0% | -3.2% | -21.8% | |
| Q3 2020 | -4.2% | +5.3% | +1.3% | |
| Q2 2020 | +1.3% | -5.0% | +14.8% | |
| Q1 2020 | +26.8% | +36.6% | +88.3% | |
| Q4 2019 | +7.5% | +8.6% | -24.5% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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