SPT - Sprout Social Non-GAAP EPS of $0.06 beats by $0.07 revenue of $75.2M beats by $0.13M

May, 02 2023 04:37 PM Sprout Social Inc

2023-05-02 16:37:19 ET

Sprout Social press release ( NASDAQ: SPT ): Q1 Non-GAAP EPS of $0.06 beats by $0.07 .
Revenue of $75.2M (+30.9% Y/Y) beats by $0.13M .
For the second quarter of 2023, the Company currently expects:
Total revenue between $78.6 and $78.7 million vs $79.89M consensus, or growth of 28% year-over-year. Services revenue will be lower than the second quarter of 2022.
Non-GAAP operating loss between ($1.8) million and ($1.5) million.
Non-GAAP net loss per share of ($0.02) vs $0.00based on approximately 55.7 million weighted-average shares of common stock outstanding.
For the full year 2023, the Company currently expects:
Total revenue between $332.0 to $333.0 million vs $332.19M consensus, or growth of 31% year-over-year. Services revenue will be lower than 2022 levels.
Total 2023 ARR growth will exceed total reported revenue growth by at least 225bps, up from our prior forecast of at least 200bps and implying growth of greater than 33% year-over-year.
Non-GAAP operating income between $2.1 million and $2.4 million.
This range implies year-over-year Non-GAAP operating margin improvement of roughly 225bps to 235bps, up from our prior range of 210bps to 220bps year-over-year.
Non-GAAP net income per share of between $0.07 and $0.08 vs $0.04 consensus.

For further details see: