Momentive Announces First Quarter 2023 Financial Results

Products
Product Overview
SurveyMonkey is built to handle every use case and need. Explore our product to learn how SurveyMonkey can work for you.
SurveyMonkey
Get data-driven insights from a global leader in online surveys.
Integrations
Integrate with 100+ apps and plug-ins to get more done.
SurveyMonkey Forms
Build and customize online forms to collect info and payments.
SurveyMonkey Genius
Create better surveys and spot insights quickly with built-in AI.
Market Research Solutions
Purpose-built solutions for all of your market research needs.
INDUSTRIES
Healthcare
Education
Technology
Government
Financial Services
See more Industries
ROLES
Marketing
Customer Experience
Product
Human Resources
Research
See more roles
USE CASES
Online Polls
Registration Forms
Employee Feedback
Event Feedback
Customer Satisfaction
See more use cases
Templates
Net Promoter Score
Measure customer satisfaction and loyalty for your business.
Customer Satisfaction
Learn what makes customers happy and turn them into advocates.
Website Feedback
Get actionable insights to improve the user experience.
Contact Information
Collect contact information from prospects, invitees, and more.
Event Registration
Easily collect and track RSVPs for your next event.
Event Feedback
Find out what attendees want so that you can improve your next event.
Employee Engagement
Uncover insights to boost engagement and drive better results.
Meeting Feedback
Get feedback from your attendees so you can run better meetings.
360-degree employee evaluation
Use peer feedback to help improve employee performance.
Course Evaluation
Create better courses and improve teaching methods.
University Instructor Evaluation
Learn how students rate the course material and its presentation.
Product Testing
Find out what your customers think about your new product ideas.
See all templates
Pricing
Enterprise
Resources

Contact Sales Log in

Momentive Announces First Quarter 2023 Financial Results

SAN MATEO, Calif. — May 4, 2023 — Momentive (NASDAQ: MNTV), the maker of SurveyMonkey, today reported first quarter results for the period ended March 31, 2023.

Q1 2023 Key Results

Total revenue was $118.8 million, an increase of approximately 2% year-over-year.
Sales-assisted channel revenue was $46.7 million, an increase of 13% year-over-year. Sales-assisted channel revenue accounted for approximately 39% of total revenue, up from approximately 35% in Q1 2022. We ended the quarter with approximately 13,200 sales-assisted channel customers, down approximately 4% from roughly 13,700 in Q1 2022.
Self-serve channel revenue was $72.1 million, a decrease of 5% year-over-year.
Deferred revenue was $216.5 million, flat year-over-year. Remaining performance obligations were $245.5 million, flat year-over-year.
Paying users totaled approximately 878,600, a decrease of 2% from roughly 894,400 in Q1 2022. Approximately 92% of our paying users were on annual plans, up from 91% a year ago.
Average revenue per user was approximately $546, up 2% from approximately $535 in Q1 2022.
GAAP operating margin was negative 17.9% and non-GAAP operating margin was 11.9%.
GAAP net loss was $23.8 million and GAAP diluted net loss per share was $0.16. Non-GAAP net income was $12.1 million and non-GAAP diluted net income per share was $0.08.
Net cash used in operating activities was $7.9 million and free cash flow was negative $10.0 million.
Cash and cash equivalents totaled $199.1 million and total debt was $184.3 million for net cash of approximately $14.7 million as of March 31, 2023.

For a detailed explanation of the company’s non-GAAP measures, please refer to the appendix section of this press release. For more information on the company’s first quarter 2023 financial results, please visit the Momentive investor relations website at investor.momentive.ai.

Transaction with Symphony Technology Group

On March 13, 2023, Momentive announced it had entered into a definitive agreement to be acquired by an investor consortium led by Symphony Technology Group (STG) in an all-cash transaction that values Momentive at approximately $1.5 billion. On April 27, 2023, the Company filed its definitive proxy statement related to the proposed acquisition and announced it will hold a special meeting of stockholders via live webcast on May 31, 2023 at 9:00 a.m. PT to approve the transaction.

The transaction is expected to close in the second or third quarter of 2023, subject to customary closing conditions, including approval by Momentive shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition.

In light of the Company’s pending acquisition, Momentive will not host a conference call or live webcast to discuss these financial results. Additionally, the Company is not providing financial guidance for Q2 2023 and full year 2023.

About Momentive

Momentive (NASDAQ: MNTV), maker of SurveyMonkey, empowers people with the insights they need to make business decisions with speed and confidence. Our fast, intuitive experience and insights management solutions connect millions of users at more than 330,000 organizations worldwide with AI-powered technology and up-to-the-minute insights, so they can shape what’s next for their products, industries, customers, employees, and the market. Ultimately, our vision is to raise the bar for human experiences by amplifying individual voices. Learn more at momentive.ai.

Investor Relations Contact:

Gary J. Fuges, CFA

investors@momentive.ai

Media Contact:

Katie Miserany

pr@momentive.ai

Download full results