---
schema_version: "secwatch.filing_event.v1"
accession: "0001517375-23-000092"
form_type: "8-K"
ticker: "SPT"
cik: "0001517375"
company_name: "Sprout Social, Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T08:02:05.116090+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Sprout Social Q2 revenue up 29% to $79.3M, acquires Tagger Media for $140M

## Summary
- Q2 revenue $79.3M (+29% YoY), ARR $326.1M (+27%), above guidance.
- GAAP net loss ($13.1M) vs ($14.6M) prior year; Non-GAAP net income $3.8M vs loss.
- Acquired Tagger Media for $140M cash, expanding into influencer marketing.
- Entered $100M credit facility with MUFG, maturing 2028, for acquisitions.
- Cash & securities $192.4M; free cash flow $6.0M.

## SEC filing metadata
- accession: 0001517375-23-000092
- form_type: 8-K
- ticker: SPT
- cik: 0001517375
- company_name: Sprout Social, Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1517375/000151737523000092/0001517375-23-000092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1517375/000151737523000092/spt-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001517375-23-000092
- JSON: https://secwatch.observer/filing/0001517375-23-000092.json
- Plain text: https://secwatch.observer/filing/0001517375-23-000092.txt

## Key facts
- Earnings Releases
  Sprout Social, Inc. reported second quarter ended June 30, 2023 results: revenue $79.3 million.
  - Period: second quarter ended June 30, 2023
  - Revenue: $79.3 million
  - Result: reported results
  source text: to extend our leadership into the influencer marketing market for a new growth and value creation opportunity.” Second Quarter 2023 Financial Highlights Revenue ● Revenue was $79.3 million, up 29% compared to the second quarter of 2022. ● ARR from customers contributing >$2,000 in ARR grew 33% year-over-year and represents 96% of total ARR. ● ARR was $326.1
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517375/000151737523000092/0001517375-23-000092-index.htm
- Material Agreements
  Sprout Social, Inc. entered into Agreement and Plan of Merger with Tagger Media, Inc., Tag Merger Sub, Inc., and Shareholder Representative Services LLC valued at $140.0 million (effective 2023-08-02).
  - Action: entry
  - Agreement: merger
  - Counterparty: Tagger Media, Inc., Tag Merger Sub, Inc., and Shareholder Representative Services LLC
  - Value: $140.0 million
  - Effective: 2023-08-02
  source text: On August 2, 2023, Sprout Social, Inc. (the “ Company ”) completed its acquisition of Tagger Media, Inc., a Delaware corporation (“ Tagger ”), pursuant to that certain Agreement and Plan of Merger, dated August 2, 2023 (the “ Merger Agreement ”), by and among the Company, Tag Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“ Merger Sub ”), Tagger, and Shareholder Representative Services LLC, a Colorado limited liability company, solely in its capacity as the representative of the Tagger securityholders (the “ Securityholder Representative ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517375/000151737523000092/0001517375-23-000092-index.htm
- Material Agreements
  Sprout Social, Inc. entered into Credit Agreement with MUFG Bank, LTD. as administrative agent and collateral agent and the lenders party thereto valued at $100.0 million (effective 2023-08-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: MUFG Bank, LTD. as administrative agent and collateral agent and the lenders party thereto
  - Value: $100.0 million
  - Effective: 2023-08-01
  source text: On August 1, 2023, the Company entered into that certain Credit Agreement (the “ Credit Agreement ”) by and among the Company, the banks and other financial institutions or entities party thereto as lenders and MUFG Bank, LTD. as administrative agent and collateral agent (the “ Administrative Agent ”). The Credit Agreement provides for a $100.0 million senior secured revolving credit facility (the “ Facility ”), maturing on August 1, 2028.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517375/000151737523000092/0001517375-23-000092-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.