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CHICAGO , November 2 , 2021 - Sprout Social , Inc. ( " Sprout Social " , the " Company " ) ( Nasdaq : SPT ) , an industry - leading provider of cloud - based social media management software , today announced financial results for its third quarter ended September 30 , 2021 . " We're excited to report our fastest quarterly revenue growth rate as a public company , " said Justyn Howard , Sprout Social's CEO and co - founder . " Our outperformance this quarter was driven by accelerated momentum in our large - customer cohorts , underscoring the quality of our growth . We're pleased to deliver very strong ACV growth and we see even greater future opportunities as our customers operationalize social . " " We're incredibly proud of our team for continuing to raise the bar for our customers and partners . " Revenue Third Quarter 2021 Financial Highlights ● sproutsocial Operating Loss Net Loss Cash Sprout Social Announces Third Quarter 2021 Financial Results Above Guidance Range Expects 2021 Revenue Growth of 40 % Third Quarter Total Revenue of $ 49.1 Million 30,705 Customers as of September 30 , 2021 ● ● Revenue was $ 49.1 million , up 46 % compared to the third quarter of 2020 . ARR was $ 204.6 million , up 44 % compared to the third quarter of 2020 . GAAP operating loss was ( $ 6.8 ) million , compared to ( $ 6.9 ) million in the third quarter of 2020 . Non - GAAP operating loss was ( $ 1.6 ) million , compared to a Non - GAAP operating loss of ( $ 4.4 ) million in the third quarter of 2020 . GAAP net loss was ( $ 7.0 ) million , compared to ( $ 7.0 ) million in the third quarter of 2020 . Non - GAAP net loss was ( $ 1.8 ) million , compared to a Non - GAAP net loss of ( $ 4.4 ) million in the third quarter of 2020 . GAAP net loss per share was ( $ 0.13 ) based on 53.9 million weighted - average shares of common stock outstanding , compared to ( $ 0.13 ) based on 51.9 million weighted - average shares of common stock outstanding in the third quarter of 2020 . Non - GAAP net loss per share was ( $ 0.03 ) based on 53.9 million weighted - average shares of common stock outstanding , compared to Non - GAAP net loss per share of ( $ 0.09 ) based on 51.9 million weighted - average shares of common stock outstanding in the third quarter of 2020 . Cash and equivalents and marketable securities totaled $ 175.0 million as of September 30 , 2021 , up from $ 171.5 million as of June 30 , 2021 . Net cash generated by operating activities was $ 4.4 million , compared to net cash used by operating activities of ( $ 2.6 ) million in the third quarter of 2020 . Free cash flow was $ 4.2 million , compared to ( $ 4.0 ) million in the third quarter of 2020 . See " Customer Metrics " and " Use of Non - GAAP Financial Measures " below for how Sprout Social defines ARR , Non - GAAP operating loss , Non - GAAP net loss , Non - GAAP net loss per share and free cash flow and the financial tables that accompany this release for reconciliations of these measures to their closest comparable GAAP measures .