SurveyMonkey Reports 'Banner Year' of Growth

DIY survey software firm SurveyMonkey has reported a 24% increase in fourth quarter revenue to $84.3m from the prior year period, driven by a 145% increase in enterprise sales, which accounted for 25% of the total (up from 13% in Q4 2018). Full-year revenue rose 21% to $307.4m.

In Q4, deferred revenue was $141m, an increase of 39% year-over-year. GAAP net loss was $21.3m and Adjusted EBITDA was $8.3m. During the period, SurveyMonkey added 468 new enterprise sales customers; paying users increased 11% annually to 720,921 at the end of Q4 2019; and average revenue per user rose 10% to $467, up from $425 in Q4 2018. Approximately 84% of paying users were on annual plans, up from 77% a year ago.

For full year, revenue growth was driven primarily by enterprise sales, which grew 114%; and the firm's acquisitions of Usabilla and GetFeedback contributed approximately 4% to total revenue for the year. Enterprise sales revenue was approximately 21% of total revenue, up from around 12% in 2018. GAAP net loss was $73.9m and Adjusted EBITDA was $38.6m.

CEO Zander Lurie (pictured) described 2019 as having been a 'banner year' for the company: following the launch of its Dublin data center; the acquisitions of Usabilla and GetFeedback, and the milestone of reaching $300m in annual revenue. 'In 2020, we expect to accelerate revenue growth for a fourth consecutive year. To sum up, this is an incredible time at this company. Our business fundamentals are strong. There is a massive opportunity ahead of us, and we are confident we are making a product and go-to-market investments to expand our enterprise market opportunity for years to come,' Lurie added.

Web site: www.surveymonkey.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.