secwatch.observer — SEC 8-K summary
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Issuer:     Sprout Social, Inc. (SPT)
CIK:        0001517375
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001517375-24-000067
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sprout Social Q1 revenue up 29% to $96.8M; CEO Justyn Howard becomes Executive Chair, Barretto succeeds
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- Revenue $96.8M (+29% YoY); RPO $290M (+54%), cRPO $210.6M (+48%).
- GAAP net loss ($13.6M) vs ($10.3M); non-GAAP net income $5.7M; non-GAAP EPS $0.10.
- CEO transition: co-founder Justyn Howard becomes Executive Chair, President Ryan Barretto named CEO.
- Changed deferred commission amortization from 3- to 5-year average life, reducing Q1 S&M by $4.4M.
- Non-GAAP free cash flow $11.3M, up from $7.9M in prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517375/000151737524000067/0001517375-24-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517375/000151737524000067/spt-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001517375-24-000067

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer