22% Year-over-Year Revenue Growth, Over $45 Million in Free Cash Flow in Full Year 2020
Full Year 2020 Enterprise Sales Revenue Exceeds $100 Million, Increases 65% Year-over-Year
SAN MATEO, Calif. — February 11, 2021 — SurveyMonkey (Nasdaq: SVMK), a leader in agile software solutions for customer experience, market research, and survey feedback, today reported fourth quarter and full year financial results for the period ended December 31, 2020.
“The SurveyMonkey team remained focused in a challenging 2020, delivering 22% year-over-year revenue growth, over $45 million in free cash flow, and agile, new products and solutions that help customers listen, learn, and take action for their stakeholders,” said Zander Lurie, chief executive officer of SurveyMonkey. “Our Q4 book of business remained strong with more than 500 new enterprise customers like Avon, Carrefour, Evernote, Headspace, Mulberry, and Norwegian Cruise Lines, and we are confident we can move further up-market in 2021 through continued product innovation that helps even more enterprises turn feedback into action.”
Launched new products and solutions
Helped customers navigate through challenges of the pandemic
New partnerships and integrations with leading systems of record
Expanded executive team
Made progress on the company’s diversity, equity and inclusion and social impact initiatives
Achieved industry recognition
SurveyMonkey posted a shareholder letter with its fourth quarter and full year 2020 financial results and management commentary on its investor relations website at investor.surveymonkey.com.
For the first quarter and full year of 2021, SurveyMonkey currently expects the following:
|Q1 2021||FY 2021|
|Revenue||$99.5 million - $101.5 million||$436 million - $443 million|
|Non-GAAP operating margin||(2.0%) - 0.0%||2%-4%|
|Free cash flow||NA||$43 million - $48 million|
For the first quarter of 2021, the company expects basic and diluted weighted average shares outstanding to be approximately 144 million. For the full year 2021, the company expects basic weighted average shares to be approximately 148 million and dilutive weighted average shares to be approximately 155 million. For a detailed explanation of the company’s non-GAAP measures, please refer to the appendix section of this press release.
SurveyMonkey senior management will host a conference call today to discuss the company’s Q4 and full year 2020 financial results. This call is scheduled to begin at 2:00 pm PT / 4:00 pm ET and can be accessed by dialing (833) 900-1542 or (236) 712-2281 (ID: 4386735). An archived webcast of the conference call will be accessible on SurveyMonkey’s Investor Relations page, investor.surveymonkey.com. A telephonic replay of the conference call will be available until Thursday, February 18, 2021, and can be accessed by dialing (800) 585-8367 or (416) 621-4642 and entering the passcode 4386735#.
SurveyMonkey is a leader in agile software solutions for customer experience, market research, and survey feedback. The company’s platform empowers more than 17 million active users to analyze and act on feedback from employees, customers, website and app users, and market research respondents. SurveyMonkey’s products, enterprise solutions, and integrations enable more than 345,000 organizations to deliver better customer experiences, increase employee retention, and unlock growth and innovation. Ultimately, SurveyMonkey's vision is to raise the bar for human experiences by amplifying individual voices.
Source: SVMK Inc.