SurveyMonkey Reports 21% Q2 Revenue Rise

SurveyMonkey has reported a 21% increase in second quarter revenue to $90.9m; alongside a net loss of $22.9m, compared with a loss of $18.5m in Q2 2019.

During the second quarter, Enterprise sales made up around 28% of total revenue, up from c.20% in Q2 2019; and SurveyMonkey ended the quarter with more than 7,200 Enterprise customers, an increase of 51% from approximately 4,800 in Q2 2019. The number of paying users is up 13% year-on-year to 781,000. Roughly 86% of the company's paying users were on annual plans, an increase from 80% from a year ago; and average revenue per user was $478, up 8% from $442 in Q2 2019.

CEO Zander Lurie (pictured) comments: 'Against the backdrop of a global health crisis and tightened macroeconomic uncertainty, we delivered strong Q2 financial performance, exceeding our revenue and profitability guidance and generating $19m in free cash flow. Based on our first half performance, I am highly confident we can execute on our long-term strategy while managing through the macro headwinds affecting all companies today. The pandemic will create economic wreckage for many, but we believe we are positioned to thrive in this period of accelerated digital transformation'.

Web site: www.surveymonkey.com .