Analysts Expect Sprout Social to Achieve Full Year Profitability in 2023

According to Visible Alpha consensus, Sprout Social (NASDAQ: SPT), the cloud-based social media management software company, is projected to turn profitable for the first time in 2023, generating a non-GAAP operating margin of 1.1% and a non-GAAP operating income of $3.7 million. In 2023 analysts forecast the company to generate $331 million in total revenue. Software subscription, Sprout Social’s primary revenue-generating segment, is expected to see revenue growth of 30.7% year-over-year, reaching an estimated $328.3 million in 2023. The social media management platform is also forecasted to see its annual contract value (ACV) increase from $8.6 million in 2022 to $11.6 million in 2023, driven by net adds.

Sector: Technology
Industry: Application Software
VA Ticker(s): SPT_US