[PART I - FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2024 financial statements: revenue **$96,784 thousand**, net loss **$13,575 thousand**, balance sheet, and cash flow Condensed Consolidated Statements of Operations (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | **Total Revenue** | $96,784 | $75,212 | | Gross Profit | $74,356 | $58,337 | | Loss from Operations | $(13,287) | $(11,933) | | **Net Loss** | $(13,575) | $(10,252) | | Net Loss per Share | $(0.24) | $(0.19) | Condensed Consolidated Balance Sheets (As of March 31, 2024) | Metric | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $69,162 | $49,760 | | Total Current Assets | $177,747 | $195,943 | | **Total Assets** | $389,940 | $396,585 | | Total Current Liabilities | $182,407 | $181,039 | | **Total Liabilities** | $242,590 | $252,393 | | **Total Stockholders' Equity** | $147,350 | $144,192 | Condensed Consolidated Statements of Cash Flows (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $11,164 | $8,284 | | Net cash provided by (used in) investing activities | $20,054 | $(8,691) | | Net cash used in financing activities | $(11,476) | $(1,099) | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company changed its accounting estimate for the amortization period of deferred sales commissions from three years to five years, effective January 1, 2024. This change reduced sales and marketing expenses by **$4,400 thousand** in Q1 2024[35](index=35&type=chunk) - As of March 31, 2024, the company had an outstanding balance of **$45,000 thousand** under its **$100,000 thousand** senior secured revolving credit facility, which matures in August 2028. The interest rate in effect was approximately **8.2%**[46](index=46&type=chunk)[48](index=48&type=chunk) - Revenue from customers outside of the United States accounted for approximately **27%** of total revenue for the three months ended March 31, 2024, consistent with the prior year period[58](index=58&type=chunk) - The acquisition of Tagger Media, Inc. in August 2023 for **$144,000 thousand** was funded by cash on hand and **$75,000 thousand** from the revolving credit facility. The purchase price allocation remains preliminary, primarily concerning income taxes[69](index=69&type=chunk)[70](index=70&type=chunk)[72](index=72&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2024 financial performance: **29%** revenue growth to **$96,784 thousand**, customer expansion, cost drivers, and non-GAAP reconciliations Revenue Performance (Q1 2024 vs Q1 2023) | Revenue Type | Q1 2024 (in thousands) | Q1 2023 (in thousands) | Growth % | | :--- | :--- | :--- | :--- | | Subscription | $95,789 | $74,742 | 28% | | Professional services and other | $995 | $470 | 112% | | **Total Revenue** | **$96,784** | **$75,212** | **29%** | High-Value Customer Growth (as of March 31) | Customer Segment | 2024 | 2023 | Growth | | :--- | :--- | :--- | :--- | | Customers with > $10,000 in ARR | 8,823 | 7,107 | 24% | | Customers with > $50,000 in ARR | 1,449 | 1,008 | 44% | - The increase in cost of revenue was primarily driven by a **$2,900 thousand** increase in data provider fees and a **$700 thousand** increase in amortization of intangible assets from the Tagger acquisition[130](index=130&type=chunk) - Operating expenses increased across the board due to higher personnel costs from headcount growth: R&D headcount grew **19%**, Sales & Marketing **23%**, and General & Administrative **21%**[131](index=131&type=chunk)[132](index=132&type=chunk)[134](index=134&type=chunk) Non-GAAP Financial Measures Reconciliation (Q1 2024) | Metric | GAAP (in thousands) | Non-GAAP (in thousands) | | :--- | :--- | :--- | | Gross Profit | $74,356 | $75,986 | | Loss from Operations | $(13,287) | $5,992 (Income) | | Net Loss | $(13,575) | $5,704 (Income) | | Net Cash from Operating Activities | $11,164 | $11,332 (Free Cash Flow) | [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks: interest rate from cash, securities, **$45,000 thousand** variable-rate debt; foreign currency risk is minimal - The company is exposed to interest rate risk through its cash and marketable securities, as well as its **$45,000 thousand** outstanding balance on the variable-rate revolving credit facility[175](index=175&type=chunk)[176](index=176&type=chunk) - Foreign currency exchange risk is not significant because both U.S. and international sales are predominantly denominated in U.S. dollars. A **10%** change in the USD/CAD exchange rate would not have a material effect[178](index=178&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures deemed **effective** by management as of March 31, 2024; no material internal control changes - Management, including the CEO and CFO, concluded that as of March 31, 2024, the company's disclosure controls and procedures are **effective**[181](index=181&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to affect, internal controls[182](index=182&type=chunk) [PART II - OTHER INFORMATION](index=43&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any **material pending legal proceedings** - As of the reporting date, the company is not involved in any **material pending legal proceedings**[185](index=185&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred during the reporting period - **None**[186](index=186&type=chunk) [Other Information](index=43&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 trading arrangements by directors/officers in Q1 2024; officers used non-Rule 10b5-1 sell-to-cover for tax obligations - No directors or officers adopted, modified, or terminated any Rule 10b5-1 trading arrangements during the quarter ended March 31, 2024[187](index=187&type=chunk) - Company officers have entered into "sell-to-cover" arrangements, which are non-Rule 10b5-1 plans, to automatically sell shares to cover tax withholding obligations upon the vesting of restricted stock units[188](index=188&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) Index of exhibits filed with Form 10-Q, including CEO and CFO certifications and other corporate documents - The report includes an index of all exhibits filed, such as the CEO and CFO certifications (Exhibits **31.1**, **31.2**, **32.1**, **32.2**) and financial data formatted in Inline XBRL[190](index=190&type=chunk)[191](index=191&type=chunk)

Sprout Social, Inc. (NASDAQ:SPT) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Jason Rechel - Vice President of Investor Relations Justyn Howard - CEO Ryan Barretto - President Joe Del Preto - CFO Conference Call Participants Raimo Lenschow - Barclays Arjun Bhatia - William Blair DJ Hynes - Canaccord Genuity Parker Lane - Stifel Adam Hotchkiss - Goldman Sachs Rob Oliver - Baird Rob Morelli - Equity Research Jackson Ader - KeyBanc Capital Markets Ryan Bressner - Morgan Stanley ...

Use of Non-GAAP Financial Measures This presentation includes useful customer metrics and other data, which are defined at the back of this presentation. Unless otherwise noted, information in this presentation concerning our industry, including industry statistics and forecasts, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from public ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-39156 __________________________________ SPROUT SOCIAL, INC. (Exact na ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q _________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-39156 __________________________________ SPROUT SOCIAL, INC. ( ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q _________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-39156 __________________________________ SPROUT SOCIAL, INC. (Exact ...