Fourth Quarter SurveyMonkey Revenue Up 20%
February 12, 2021
SurveyMonkey announced a 20% increase in total revenue to $ 101.0 million for the fourth quarter ended December 31, 2020. Full year 2020 revenue increased 22% year-on-year to reach $ 375.6 million.
In the fourth quarter, the company’s business revenue increased 39% to $ 29.8 million and represented about 29% of total revenue, up from about 25% in the fourth quarter of 2019. SurveyMonkey had approximately 8,200 Business customers in the fourth quarter, an increase of 24% from approximately 6,600 in the fourth quarter of 2019. Self-service revenue in the fourth quarter was $ 71.2 million, an increase by 13%.
Fourth quarter paid users totaled about 820,300, up about 14% from 720,900 in fourth quarter 2019, and an increase of about 17,100 paid users from third quarter 2020. About 88% of Paid users were on annual plans, up 84% from a year ago. Average revenue per user was $ 494, up from $ 467 in the fourth quarter of 2019. For the full year, business revenue grew 65% to $ 107.9 million, and self-service revenue was $ 267.7 million, an annual increase of 11%.
The GAAP operating margin for the full year was negative at 21.7%, while the non-GAAP figure was + 2.7%. The 2020 GAAP net loss was $ 91.6 million and the non-GAAP net loss was $ 0.7 million.
CEO Zander Lurie (pictured) comments: “The SurveyMonkey team remained focused on a tough 2020, driving 22% year-over-year revenue growth, over $ 45 million in cash flow available and agile, new products and solutions that help customers listen, learn and act for their stakeholders. Our fourth quarter business volume remained strong with over 500 new business customers, and we are confident that we will be able to continue to move upmarket in 2021 through continuous product innovation that helps even more companies turn feedback into action ”.
The revenue forecast for the first quarter is between $ 99.5 million and $ 101.5 million, below analysts’ forecasts which averaged around $ 104.9 million, and stocks – which had climbed by 25% in the last two and a half months – has fallen from around 16% today to around $ 24.
All 2006-21 articles written and edited by Mel Crowther and / or Nick Thomas, unless otherwise noted.