When SVMK Inc. (NASDAQ: SVMK), or SurveyMonkey, released its most recent quarterly results after the markets closed on Tuesday, the company said that it had a net loss of $0.01 per share on revenues of $65.2 million. Consensus estimates had called for a net loss of $0.05 per share on $62.9 million in revenue.
The company saw revenue increase of 18% year over year. Also, its core revenue, which excludes $0.4 million in revenue related to the non-self-serve portion of SurveyMonkey Audience in the third quarter of 2017 (the final quarter with reported revenue), increased 19% year over year. Strength across the business drove our results.
The net loss that SurveyMonkey saw this quarter ($102.4 million) was largely due to the IPO-related stock-compensation charge. Adjusted EBITDA was $17.0 million.
Looking ahead to the fourth quarter, the company expects to see revenue in the range of $64.8 million to $66.8 million, with an operating margin of 2% to 3%. Thomson Reuters is calling for $64.99 million in revenue for the coming quarter.
Zander Lurie, SurveyMonkey CEO, commented:
We are off to a great start as a public company resulting from our strong execution and focus. SurveyMonkey was built on the belief that empowering individuals across organizations to engage with their key constituents is paramount to success. The importance of organizations understanding the voices and opinions of their customers and employees is more acute than ever. I’m confident in our strategy, our competitive position and the team we have to execute against our global opportunity.”
Shares of SVMK were last seen up about 15% at $13.00, with a post-IPO range of $10.05 to $20.00. The stock has a consensus analyst price target of $15.17.
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