Company reports revenue of $79.3 million, 22% YoY growth
Enterprise sales revenue grew 129%, surpassed 5,000 enterprise sales customers
SAN MATEO, Calif.—November 7, 2019 — SurveyMonkey Inc. (Nasdaq: SVMK) a leading global survey software company, announced today that its parent company, SVMK Inc., reported third quarter 2019 financial results for the period ended September 30, 2019.
“SurveyMonkey’s strong Q3 results underscore that feedback is a necessity for any business that values its stakeholders,” said Zander Lurie, chief executive officer at SurveyMonkey. “This quarter, we added more than 500 new customers to our growing enterprise roster, including Zoom, IBM and Thule Sweden, and we scaled enterprise sales to 23% of total revenue. We maintained solid execution on both driving adoption of our collaborative self-serve Teams plans and expanding our international footprint, as promised at our IPO one year ago. We also strengthened our customer experience capabilities with the acquisition of GetFeedback, an experience management solution designed for the Salesforce ecosystem. We are excited about this momentum as we enter the fourth quarter.”
Q3 2019 Key Results
Q3 2019 Business Highlights
SurveyMonkey posted a shareholder letter with complete third quarter 2019 financial results and management commentary on its investor relations website at investor.surveymonkey.com.
Financial Outlook
| Q4 2019 | ||
| Revenue | $83 million - $84 million | 22% - 24% YoY growth |
| Non-GAAP operating margin | -3% to -1% |
| FY 2019 | ||
| Revenue | $306 million - $307 million | Approximately 21% YoY growth |
| Non-GAAP operating margin | 0% to 1% | |
| Unlevered free cash flow | $48 million - $51 million | 16% - 17% margin |
We expect our acquisitions of Usabilla and GetFeedback to represent approximately 4% of total revenue for the full year 2019, which is reflected in our guidance. Both will be broadly integrated into our product and go-to-market portfolio by 2020. As a result, we will not provide contribution details in 2020 and beyond.
Conference Call Information
We will host a conference call today to discuss our Q3 2019 business and financial results. This call is scheduled to begin at 2:00 pm PT / 5:00 pm ET and can be accessed by dialing (866) 417-2046 or (409) 217-8231. To listen to a live audio webcast, please visit SurveyMonkey’s Investor Relations website at investor.surveymonkey.com. A replay of the audio webcast will be available on the same website following the call. A telephonic replay will be available through November 14, 2019 by dialing (855) 859-2056 or (404) 537-3406 and entering passcode 7689737#.
Upcoming Events
Senior management will be presenting at the following investor conferences:
Credit Suisse TMT Conference in Scottsdale, Arizona, on Tuesday December 3, 2019
Wells Fargo TMT Summit in Las Vegas, Nevada, on Wednesday, December 4, 2019
UBS Global TMT Conference in New York, New York, on Tuesday, December 10, 2019
About SurveyMonkey
SurveyMonkey is a leading global survey software company on a mission to power the curious. The company’s People Powered Data platform empowers over 17 million active users to measure and understand feedback from employees, customers, website and app users, and the market. SurveyMonkey’s products, enterprise solutions and integrations enable 335,000+ organizations to solve daily challenges, from delivering better customer experiences to increasing employee retention. With SurveyMonkey, organizations around the world can transform feedback into business intelligence that drives growth and innovation.
Investor Relations Contact:
Whitney Kukulka
The Blueshirt Group
investors@surveymonkey.com
Media Contact:
Lara Sasken
lsasken@surveymonkey.com
Source: SurveyMonkey Inc.