Company Delivers Record Revenue in 2019, Surpasses $300 million and 21% YoY growth
Fourth Quarter Enterprise Sales Revenue Grew 145% Year-over-Year to 25% of Total Revenue
Adds over 3,000 Enterprise Customers in 2019
SAN MATEO, Calif. — February 13, 2020 — SurveyMonkey (Nasdaq: SVMK), a leading global survey software company, today announced that its parent company, SVMK Inc., reported fourth quarter and full year 2019 financial results for the period ended December 31, 2019.
“SurveyMonkey delivered a strong fourth quarter with 24% year-over-year revenue growth. Enterprise sales accounted for 25% of our revenue, up from 13% one year ago. We added world-class businesses to our growing customer roster, including CBS Interactive, Duracell, CORT, and Office Depot Europe,” said Zander Lurie, CEO at SurveyMonkey. “2019 was a banner year for the company: we expanded our global footprint with the launch of our Dublin data center and the acquisition of Usabilla in Amsterdam, acquired GetFeedback to enhance our Customer Experience solutions for the Salesforce ecosystem, and eclipsed $300 million of annual revenue. Our disciplined investments enabled us to deliver 17% unlevered free cash flow margin in conjunction with our accelerated revenue growth. I’ve never been more excited about the opportunity ahead.”
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SurveyMonkey posted a shareholder letter with complete fourth quarter and fiscal 2019 financial results and management commentary on its investor relations website at investor.surveymonkey.com.
| Q1 2020 | ||
| Revenue | $85 million - $86 million | 25% YoY growth |
| Non-GAAP operating margin | -4% to -2% |
| FY 2020 | ||
| Revenue | $375 million - $381 million | 22% - 24% YoY growth |
| Non-GAAP operating margin | 1% to 2% | |
| Free cash flow | $40 million - $43 million |
We define free cash flow as operating cash flow less capital expenditures. We believe this metric provides a better view of our working capital management than unlevered free cash flow. Therefore, we will guide to free cash flow going forward. You can find a comprehensive explanation of non-GAAP measures at the end of this press release.
We expect basic and diluted weighted average shares outstanding to be approximately 136 million in Q1 and 139 million for the full year 2020.
We will host a conference call today to discuss our Q4 and Fiscal 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 February 20, 2020 by dialing (855) 859-2056 or (404) 537-3406 and entering passcode 2277176#.
Zander Lurie, CEO, will be presenting at the 2020 JMP Securities Technology Conference in San Francisco, CA on Tuesday, February 25, 2020. A live webcast will be accessible from the SurveyMonkey investor relations website at investor.surveymonkey.com. Following the event, a replay will be made available at the same location. Debbie Clifford, CFO, and Tom Hale, President, will also be hosting one-on-one meetings at the SunTrust Technology, Internet, & Services Conference in New York, NY on Tuesday, March 10, 2020.
About SurveyMonkey
SurveyMonkey is a leading global survey software company on a mission to power the curious. The company’s 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 more than 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:
Gary J. Fuges, CFA
investors@surveymonkey.com
Media Contact:
Lara Sasken
lsasken@surveymonkey.com
Source: SurveyMonkey Inc.
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