NEWS6 November 2020

SurveyMonkey Q3 revenues up 20%

Financials News North America

US – Market research and survey feedback firm SurveyMonkey increased its revenue in the third quarter of 2020 by a fifth year-on-year, according to its latest financial results.

SurveyMonkey HQ

The financial results found the company had total revenue of $95.4m for the three months to 30 September 2020, which was 20% more than the same period in 2019.

However, SurveyMonkey made a net loss of $26.1m. It has cash and cash equivalents of $206.3m and net debt of $7.8m.

Enterprise sales rose 53% year-on-year for the quarter to $27.4m, and self-serve revenue was $68m, a 24% year-on-year increase.

SurveyMonkey said that it had 803,000 paying users, up 90,000 on the third quarter of 2019.

Zander Lurie, chief executive officer of SurveyMonkey, said the results showed a “strong quarter” for the company, particularly its growth in revenue.