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EX - 99.2 3 svmk - ex992_7.htm EX - 99.2 Survey Monkey® SurveyMonkey Announces First Quarter 2021 Financial Results RPO Increases 21 % , Deferred Revenue Increases 23 % Year - over - year Company Raises Full Year 2021 Revenue Outlook SAN MATEO , Calif . - May 6 , 2021 Exhibit 99.2 SurveyMonkey . ( Nasdaq : SVMK ) , a leader in agile software solutions for customer experience , market research , and survey feedback , today reported first quarter results for the period ended March 31 , 2021 . " Our first quarter can be summarized in one word : execution , " said Zander Lurie , chief executive officer of SurveyMonkey . " We are moving up - market through agile , Al - powered solutions that help customers like Cedars Sinai , Glassdoor , Kawasaki Motors , and The Very Group manage their stakeholders ' experiences . We exceeded the high - end of our Q1 revenue guidance range and accelerated our leading indicators for growth -- RPO and deferred revenue which increased 21 % and 23 % year - over - year , respectively . We are increasing our full year 2021 revenue outlook , reflecting our confidence in our long - term growth strategy and our ability to execute . " Q1 2021 Key Results • • • • • Total revenue was $ 102.3 million , an increase of 16 % year - over - year . -- Enterprise sales revenue was $ 31.2 million , an increase of 24 % year - over year . Enterprise sales revenue accounted for approximately 30 % of total revenue , up from approximately 29 % in Q1 2020. We ended the quarter with approximately 8,800 enterprise sales customers , up 29 % from approximately 6,800 in Q1 2020 . Self - serve revenue was $ 71.1 million , an increase of 13 % year - over - year . Deferred revenue was $ 187.5 million , an increase of 23 % year - over - year . Remaining performance obligations ( RPO ) were $ 204.9 million , an increase of 21 % year - over - year . Paying users totaled approximately 845,800 , an increase of approximately 99,600 , or 13 % from approximately 746,200 in Q1 2020 , and an increase of approximately 25,500 paying users from Q4 2020 . Approximately 89 % of our paying users were on annual plans , up from 85 % a year ago . Average revenue per user was $ 498 , up approximately 3 % from $ 483 in Q1 2020 . GAAP operating margin was negative 26.2 % and non - GAAP operating margin was negative 0.6 % . GAAP net loss was $ 29.6 million and GAAP diluted net loss per share was $ 0.20 . Non - GAAP net loss was $ 3.3 million and non - GAAP diluted net loss per share was $ 0.02 . Net cash provided by operating activities was $ 17.3 million and free cash flow was $ 15.1 million for 16.9 % and 14.7 % margin , respectively . Cash and cash equivalents totaled $ 247.4 million and total debt was $ 213.1 million for net cash of $ 34.3 million as of March 31 , 2021 . 1