NEWS11 November 2019

SurveyMonkey records Q3 revenue growth

Financials News North America Technology

US – Survey software company SurveyMonkey has grown its revenue by 22% year-on-year in the third quarter of 2019.

Zander Lurie

SurveyMonkey’s revenue for the third quarter was $79.3m, 23% of which came from enterprise sales – up from 12% in the same period last year.

The firm had 5,346 enterprise customers at the end of the quarter – an increase of 569 from the previous quarter and compared to 3,226 in the third quarter of 2018. New enterprise customers were bolstered by the company’s acquisition of GetFeedback, completed in September.

The company also grew its number of paying users to 713,217, up 15% year-on-year compared to the third quarter of 2018 and up 3% from the previous quarter this year.

Gross profit was $59.6m in the three months up to 30th September, compared to $41.9m in the same period last year.

Zander Lurie, chief executive officer at SurveyMonkey (pictured), said the company had made progress with the adoption of its “self-serve Teams plans” and expanding its international footprint, as outlined at its IPO in 2018. He added: “We are excited about this momentum as we enter the fourth quarter.”