NEWS10 August 2020

SurveyMonkey increases Q2 revenue by 21%

Financials News North America

US – Survey feedback and customer experience firm SurveyMonkey saw revenue increase by a fifth in its financial results for the second quarter of 2020.

SurveyMonkey HQ

SurveyMonkey brought in $90.9m in the three months to 30th June 2020, a 21% year-on-year increase.

The company also had more than 7,200 enterprise customers, which was up 51% on the same period in 2019, and paying users were at 781,000, a 13% increase on the second quarter of 2019.

In its financial outlook for the third quarter of 2020, SurveyMonkey estimated it would increase revenue to between $93m and $96m – a 19% rise year-on-year.

Despite this, the company made a net loss of $22.9m for the quarter and has a net debt of $37.8m.

Zander Lurie, chief executive officer of SurveyMonkey, said: “SurveyMonkey delivered another quarter of strong financial results that exceeded our guidance.”