Reports record revenue, 53% year-over-year growth in enterprise sales revenue
Launches its integrated customer experience offering, the GetFeedback platform
SAN MATEO, Calif. — November 5, 2020 — SurveyMonkey (Nasdaq: SVMK), a leader in agile software solutions for customer experience, market research, and survey feedback, today reported third quarter financial results for the period ended September 30, 2020.
“With 20% year-over-year revenue growth, nearly 450 sequential new enterprise customers, and more than $16 million in free cash flow, SurveyMonkey posted another strong quarter in Q3,” said Zander Lurie, chief executive officer of SurveyMonkey. “We continued our move up-market as organizations like Calendly, Calm, Gainsight, GAF Materials, McDonald’s Japan, NerdWallet, and Trustmark chose our powerful, agile software to turn feedback into action. Our launch of the GetFeedback platform positions us to be a force in customer experience, a market that is hungry for a cost-efficient solution as organizations increasingly prioritize customer feedback on their digital transformation journey.”
SurveyMonkey posted a shareholder letter with its complete third quarter 2020 financial results and management commentary on its investor relations website at investor.surveymonkey.com.
For the fourth quarter of 2020, SurveyMonkey currently expects the following:
|Revenue||$99 million - $101 million||19% YoY growth at mid-point|
|Non-GAAP operating margin||2% to 4%|
The Company expects basic and diluted weighted average shares outstanding to be approximately 143 million for the fourth quarter of 2020. 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 Q3 2020 financial results. This call is scheduled to begin at 5:30 am PT / 8:30 am ET and can be accessed by dialing (833) 900-1542 or (236) 712-2281 (ID: 4928444). 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, November 12, 2020, and can be accessed by dialing (800) 585-8367 or (416) 621-4642 and entering the passcode 4928444#.
SurveyMonkey is a leader in agile software solutions for customer experience, market research, and survey feedback. The company’s platform empowers over 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 335,000 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.