8-K
filed February 16, 2023, 6:59 PM ET
CIK 0001739936
other material
confidence high
sentiment neutral
materiality 0.75
MOMENTIVE GLOBAL INC.: restructuring charge — Momentive Q4 revenue $122.4M (+4% YoY); announces 14% workforce reduction
MOMENTIVE GLOBAL INC.
- Q4 GAAP net loss $3.6M ($0.02 diluted loss); non-GAAP net income $20.7M ($0.14 diluted EPS).
- Sales-assisted revenue $49.3M (+23% YoY); self-serve revenue $73.1M (-6% YoY).
- FY2022 revenue $480.9M (+8% YoY); GAAP operating margin -16.9%, non-GAAP 7.9%.
- Workforce cut ~14%; expects $7M-$9M severance charges, majority in Q1 2023.
- Q1 2023 guidance: revenue growth 0-2% YoY; non-GAAP op margin 6-8%; aims to double FY margin.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MOMENTIVE GLOBAL INC. updated its Q1 2023 guidance (initiated).
- Period
- Q1 2023
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
For the first quarter of 2023, Momentive currently expects the following: Q1 2023 Revenue Growth (year-over-year) 0% to 2% Non-GAAP operating margin 6% to 8%
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MOMENTIVE GLOBAL INC. reported Q4 2022 results: revenue $122.4 million, net income GAAP net loss was $3.6 million, EPS GAAP diluted net loss per share was $0.02.
- Period
- Q4 2022
- Revenue
- $122.4 million
- Net income
- GAAP net loss was $3.6 million
- EPS
- GAAP diluted net loss per share was $0.02
- Result
- reported results
Exact text from the filing
Total revenue was $122.4 million, an increase of 4% year-over-year. On a constant currency basis, revenue increased 7% year-over-year. • Sales-assisted revenue was $49.3 million, an increase of 23% year-over-year. Sales-assisted revenue accounted for approximately 40% of total revenue, up from approximately 34% in Q4 2021. We ended the quarter with approximately 14,500 sales-assisted customers, up 23% from approximately 11,900 in Q4 2021. • Self-serve revenue was $73.1 million, a decrease of 6% year-over-year. • Deferred revenue was $207.4 million, an increase of 3% year-over-year. Remaining performance obligations were $238.8 million, an increase of 5% year-over-year. • Paying users totaled approximately 887,400, an increase of 1% from approximately 879,600 in Q4 2021. Approximately 93% of our paying users were on annual plans, up from 91% a year ago. • Average revenue per user was approximately $544, up 3% from approximately $530 in Q4 2021. • GAAP operating margin was negative 3.7%
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MOMENTIVE GLOBAL INC. reported Full year 2022 results: revenue $480.9 million, net income GAAP net loss was $89.9 million, EPS GAAP diluted net loss per share was $0.61.
- Period
- Full year 2022
- Revenue
- $480.9 million
- Net income
- GAAP net loss was $89.9 million
- EPS
- GAAP diluted net loss per share was $0.61
- Result
- reported results
Exact text from the filing
Total revenue was $480.9 million, an increase of 8% year-over-year. On a constant currency basis, revenue increased 9% year-over-year. 1 • Sales-assisted revenue was $181.3 million, an increase of 27% year-over-year. • Self-serve revenue was $299.6 million, approximately flat year-over-year. • GAAP operating margin was negative 16.9% and non-GAAP operating margin was 7.9%. • GAAP net loss was $89.9 million and GAAP diluted net loss per share was $0.61.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
MOMENTIVE GLOBAL INC. announced a restructuring with charges of approximately $7.0 million to $9.0 million (approximately 14%).
- Type
- restructuring
- Charge
- approximately $7.0 million to $9.0 million
- Headcount
- approximately 14%
Exact text from the filing
On February 15, 2023, we committed to a plan that is designed to improve operating margin (the “Plan”). The Plan includes a reduction of the Company’s workforce by approximately 14%. We estimate that we will incur approximately $7.0 million to $9.0 million in charges related to employee severance, employee benefits, and related facilitation costs in connection with the Plan.
View on SEC.gov
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