SurveyMonkey reported a year-over-year revenue jump of 18 percent when it reported its first earnings report as a public company after the market close Tuesday.

Here’s how the company did compared with year-ago figures:

  • Loss per share: 99 cents, basic and diluted, vs. 13 cents lost in the year-ago quarter
  • Revenue: $65.2 million vs. $55.3 million in the year-ago quarter

The stock, which trades under the formal name SVMK Inc., was mostly unchanged following the report. Shares have declined about 28 percent since the stock’s debut on the Nasdaq in late September, when it saw share prices surge 42 percent to $17 per share on its first day of trading.

The stock briefly saw a threat when its larger and faster-growing rival Qualtrics filed an IPO prospectus in October. That threat diminished when SAP announced Sunday it would acquire Qualtrics before it could go public. SurveyMonkey spiked around 7 percent on the news Monday.

According to its IPO filing, SurveyMonkey’s losses grew faster than its revenue on a percentage basis in the first half of the year. Losses rose from $19.1 million in the first half of 2017 to $27.2 million in the first half of this year, or 42 percent. During the same period, revenue grew only 14 percent, from $106.5 million to $121.2 million.

SurveyMonkey, headquartered in San Mateo, Calif., was founded in 1999 by Ryan Finley. Since 2016, Lurie has served as CEO of the company, which had 761 employees as of June 30.

-CNBC’s Jordan Novet and Elizabeth Schulze contributed to this report.

This story is developing. Please check back for updates.

Products You May Like

Articles You May Like

‘It is impossible’ for US-Russia relations to improve while sanctions are in place, Deripaska says
Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway
The IRS has $1.4 billion in tax refunds waiting for people to claim
Trump’s budget could open this tax-free savings account to people on Medicare
Business executives out after being charged in college admissions scam

Leave a Reply

Your email address will not be published. Required fields are marked *