Sprout Social(US:SPT)2025-02-25 21:07Revenue Performance - Revenue for Q4 2024 was $107.1 million, representing a 14% increase compared to Q4 2023[6] - Total revenue for Q4 2024 was $107.09 million, an increase of 14.4% compared to $93.58 million in Q4 2023[35] - Subscription revenue reached $105.92 million in Q4 2024, up from $92.22 million in Q4 2023, reflecting a growth of 14.8%[35] - For Q1 2025, the company expects total revenue between $107.2 million and $108.0 million[11] - For the full year 2025, total revenue is projected to be between $448.1 million and $453.1 million[11] Customer Metrics - The number of customers contributing over $10,000 in ARR grew to 9,327, a 7% increase year-over-year[11] - The dollar-based net retention rate was 104% in 2024, down from 107% in 2023[11] - The dollar-based net retention rate was not explicitly stated, but the company emphasizes its importance in evaluating long-term customer relationships[30] - The number of customers contributing more than $10,000 in ARR is a key metric for future growth potential, although specific figures were not provided[28] Financial Performance - Non-GAAP operating income for Q4 2024 was $11.4 million, compared to $1.7 million in Q4 2023[6] - The net loss for Q4 2024 was $14.42 million, a decrease from a net loss of $20.08 million in Q4 2023, representing a 28.4% improvement[35] - Net loss for the three months ended December 31, 2024, was $14,417 thousand, an improvement from a net loss of $20,077 thousand in the same period of 2023, indicating a reduction of approximately 28%[43] - Non-GAAP net income for the three months ended December 31, 2024, was $10,698 thousand, compared to $980 thousand in 2023, representing a substantial increase[49] Cash and Liquidity - Cash and equivalents totaled $90.2 million as of December 31, 2024, slightly down from $91.5 million as of September 30, 2024[6] - Cash and cash equivalents increased to $86.44 million as of December 31, 2024, up from $49.76 million a year earlier, showing a growth of 73.5%[40] - Net cash provided by operating activities for the twelve months ended December 31, 2024, was $26,321 thousand, significantly higher than $6,456 thousand in 2023, showing an increase of over 300%[46] - The company reported a net increase in cash of $36,723 thousand for the twelve months ended December 31, 2024, compared to a decrease of $26,222 thousand in 2023[48] Operating Expenses and Liabilities - Total operating expenses for Q4 2024 were $97.35 million, compared to $90.85 million in Q4 2023, indicating an increase of 7.1%[36] - Total liabilities increased to $261,747 thousand in 2024 from $252,393 thousand in 2023, reflecting a growth of approximately 3%[41] Stockholder Equity and Compensation - Stockholders' equity rose to $166,594 thousand in 2024, up from $144,192 thousand in 2023, representing an increase of about 15.6%[41] - The total stock-based compensation expense for the twelve months ended December 31, 2024, was $84.30 million, an increase from $67.70 million in 2023[38] - Stock-based compensation expense for the three months ended December 31, 2024, was $22,453 thousand, up from $18,659 thousand in 2023, an increase of about 20%[48] Deferred Revenue and Performance Obligations - Current remaining performance obligations (cRPO) reached $249.4 million, up 26% year-over-year[6] - Deferred revenue for the three months ended December 31, 2024, was $29,475 thousand, compared to $18,051 thousand in 2023, indicating a growth of approximately 63%[44] Company Updates and Recognition - The company launched updates to its suite of AI solutions to enhance competitiveness[11] - Sprout Social was recognized as a leader in worldwide social media marketing software for large enterprises by IDC Marketscape[11]