What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2026-02-27 compared with 2025-02-26 · 136 added, 121 removed, 460 unchanged (36% of the section changed)

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We offer our customers a centralized, secure and powerful platform that can scale horizontally across an organization to drive maximum business value.

For almost 15 years, Sprout Social has helped companies command their market on social media.

Our human-centric AI and advanced analytics deliver real-time insights from more than 1 billion daily messages, driving impact quickly and boosting productivity.

For over 15 years, Sprout Social has helped companies command their market on social media.

As social has evolved from a marketing channel to a critical source of enterprise intelligence, our platform has evolved with it.

Our human-centric AI and advanced analytics - powered by Trellis, our proprietary AI agent - deliver real-time social intelligence from more than 1 billion daily messages, driving impact quickly and boosting productivity.

With straight-forward onboarding, powerful integrations, and ease of use, our platform is designed to scale to meet even the largest enterprise needs.

Our AI-led suite of solutions helps brands maximize the value of social, connect meaningfully with their audience, and leverage insights to enhance business strategies and customer retention.

Currently, approximately 30,000 customers across more than 100 countries rely on our platform.

The exceptional value we deliver is bolstered by our recognition as a Leader by IDC in the 2024-25 Marketscape for Social Marketing software for large enterprises, and our consistently high user ratings on G2.

We have proven success in the SMB, Mid-market and Enterprise segments.

However, we expect that our current and future growth will likely be driven by outsized contributions from Mid-market and Enterprise.

Our platform provides a compelling offering for customers of all sizes, across the SMB, Mid-market and Enterprise customer segments.

However, we expect that our current and future growth will likely be driven by outsized contributions from Mid-market and Enterprise customers.

We estimate that less than 5% of businesses have adopted social media management software, providing a large, nascent opportunity to drive significantly increased market adoption of our solution.

We have an efficient, product-driven go-to-market strategy that has enabled us to scale rapidly, attracting customers from small businesses to global brands as well as marketing agencies and government, non-profit and educational institutions.

With over 99% of our revenue in 2024 from software subscriptions, we have experienced strong unit economics across all customer segments as we continue to grow and refine our sales and marketing efforts.

In 2025, the majority of our inbound trials were generated through unpaid marketing due to the strength of our brand, content marketing, and search engine optimization.

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Our platform is licensed on a per-user basis with numerous upsell opportunities through additional users and product modules.

As social becomes a critical channel for virtually all aspects of the customer experience, including brand awareness, influencer marketing, customer acquisition, social customer care, commerce, advocacy and reputation management, we expect that our customers will increase adoption of our platform across departments.

As social becomes a critical channel for virtually all aspects of the customer experience, including brand awareness, influencer marketing, predictive media intelligence, customer acquisition, social customer care, commerce, advocacy and reputation management, we expect that our customers will increase adoption of our platform across departments.

Our success and innovation are driven by an experienced leadership team and award-winning culture with a reputation for caring deeply about the success of our customers and employees.

This strong employer brand allows us to attract and retain high-quality talent and deliver a premium experience for our customers.

In 2024, we were recognized as a Built In “Best Place to Work” for the sixth consecutive year.

Glassdoor has recognized us as one of the “Best Places to Work” in 2017, 2018, 2020, 2021, 2022 and 2023.

In 2023, we were also recognized by Great Place to Work and PEOPLE magazine on the 2023 PEOPLE Companies that Care list, which is based on data from companies representing more than 7.5 million U.S.

Sprout Social was also recognized as the #2 Best Workplace in Chicago and #18 Best Workplace for Parents by Great Place to Work.

Our strong culture, world-class management team, leading platform and efficient go-to market strategy have led to revenue of $405.9 million, $333.6 million and $253.8 million during the years ended December 31, 2024, 2023 and 2022, respectively, representing growth of 22% from 2023 to 2024 and representing growth of 31% from 2022 to 2023.

In 2025, we were recognized as a Built In “Best Place to Work” for the seventh consecutive year, as well as one of “America’s Greatest Workplaces” and “Greatest Workplaces in Software and Technology” by Newsweek.

This momentum builds on years of consistent excellence, including being named one of the Glassdoor “Best Places to Work” in 2017, 2018, 2020, 2021, 2022 and 2023.

Sprout Social was also recognized as a 2025 “Best Workplace in Chicago” by Fortune and a 2025-2026 “Best Places to Work For” by U.S.

News and World Report.

Our strong culture, world-class management team, leading platform and efficient go-to market strategy have led to revenue of $457.5 million, $405.9 million and $333.6 million during the years ended December 31, 2025, 2024 and 2023, respectively, representing growth of 13% from 2024 to 2025 and 22% from 2023 to 2024.

We generated net losses of $43.3 million, $62.0 million and $66.4 million during the years ended December 31, 2025, 2024 and 2023, respectively.

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• social media is holding brands to higher standards;

• social media is where news breaks first;

• social media is replacing existing communication channels;

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Businesses must face the reality that social media is not simply another marketing channel.

Social media now plays a crucial role across the entirety of an organization, from marketing and communications to sales, customer relationships, customer service, product feedback, and more.

Social media now plays a crucial role across the entirety of an organization, from marketing and

communications to sales, customer relationships, customer service, product feedback, and more.

Social media is an invaluable layer that is embedded in the digital technology stack:

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The ubiquity and ease of social media has enabled a new, public form of casual opinion, observation, endorsement or criticism.

Social media has

given consumers a powerful, public voice that can reward or penalize organizations.

Social media has given consumers a powerful, public voice that can reward or penalize organizations.

Organizations must listen and respond to this voice.

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Consumers demand that brands be present and responsive across social networks, with nearly three-quarters of consumers expecting a response to a social media message within 24 hours or sooner, according to The 2025 Sprout Social Index™.

The same report also found that 73% of consumers say they’ll buy from a competitor if a brand doesn’t respond on social media.

The same report also found that 73% of consumers say they’ll buy from a competitor if a brand does not respond on social media.

• All aspects of business communication are shifting to social .

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Consumers are expressing their opinions and talking to and about brands through billions of posts per day.

Organizations may know they need to adapt to this new reality and adjust their business processes and implement tools to manage this new communication channel, but are unsure how to mine value from social.

Organizations may know they need to adapt to this new reality and adjust their business processes and implement

tools to manage this new communication channel, but are unsure how to mine value from social.

• The alternative is irrelevance .

A failure to solve the challenges posed by the shift to social communication would mean disconnecting from large and growing demographics and losing

out on market share and business growth.

A failure to solve the challenges posed by the shift to social communication would mean disconnecting from large and growing demographics and losing out on market share and business growth.

Organizations seeking to engage and connect with their audience without utilizing social tools and strategies are at a severe disadvantage.

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Yet, despite its potential, most organizations lack the advanced tools needed to harness, analyze, and unlock the full value of this wealth of information.

• The search landscape is fundamentally shifting.

AI-powered search engines and answer engines are transforming how consumers discover information, products, and brands.

Traditional search engine optimization (“SEO”) strategies that once drove organic traffic are becoming less effective as AI systems synthesize and present answers directly, bypassing traditional search results.

Meanwhile, social media has emerged as a primary discovery channel, with consumers increasingly turning to social platforms to research products, seek recommendations, and make purchasing decisions.

Organizations that fail to recognize this shift risk becoming invisible to their target audiences.

Brands must adapt their strategies to ensure they maintain visibility and relevance in this new discovery paradigm, where social presence and social intelligence are no longer optional but essential for being found by consumers.

• Significant data privacy and security concerns aren’t going away .

As data privacy and security concerns continue to dominate the social media landscape, businesses must act quickly to navigate increasing complexity, risk, and regulation.

To stay ahead, brands need to take charge of their market by adopting social media management platforms that safeguard customer data across multiple social profiles and networks.

To stay ahead, brands need to take charge of their market by adopting social media management platforms that safeguard

customer data across multiple social profiles and networks.

Addressing these challenges with agility is critical not only for maintaining security and trust, but also for staying competitive in an increasingly fast-evolving environment.

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Brands can no longer afford to overlook the importance of social media, where every interaction has the potential to influence their reputation and expand their reach.

Sprout Social offers an intuitive

platform designed to scale with organizations of all sizes and to help empower teams to secure a competitive advantage and boost their market position.

Sprout Social offers an intuitive social intelligence platform designed to scale with organizations of all sizes and to help empower teams to secure a competitive advantage and boost their market position.

Customers can rapidly activate Sprout Social and expedite the implementation process to access analysis-ready AI.

Social profiles are efficiently connected, and software integrations are configured to deliver rapid results, starting as soon as a customer’s trial, which was a key driver of new customer revenue in 2024.

Social profiles are efficiently connected, and software integrations are configured to deliver rapid results, starting as soon as a customer’s trial, which continues to be a key driver of new customer revenue.

Our platform is built to reduce the need for extensive training, custom AI builds, and external specialists, leading to lower implementation and services costs and faster time to value.

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This single codebase architecture not only optimizes performance but also enables our company to maintain a customer-first approach, responding to market changes with agility and enabling scalability without inefficient resource allocation.

While solutions such as Employee Advocacy and Influencer Marketing are distinct technologies, they operate on underlying codebases similar to that of Sprout Social.

We have cultivated strong, strategic relationships with leading social networks—including Facebook, Instagram, Threads, X (formerly Twitter), Pinterest, LinkedIn, YouTube, Reddit, Tumblr and TikTok.

While solutions such as Employee Advocacy, NewsWhip by Sprout Social and Influencer Marketing are distinct technologies, they operate on underlying codebases similar to that of Sprout Social.

These premier partnerships provide access to the most reliable social data and first-in-line API updates, empowering our customers to make informed, confident decisions that drive sustained growth and innovation.

Additionally, our platform is built to seamlessly integrate social throughout our customers' existing operations.

Whether streamlining social workflows, optimizing customer experiences, or enhancing business decision-making, our integrations empower teams to drive measurable results and maximize ROI.

Whether streamlining social workflows, optimizing customer experiences, or enhancing business decision-making, our integrations empower teams to drive measurable results and maximize

By enabling customers to embed social where they need it the most, we help them achieve their strategic objectives and accelerate success.

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• Influencer Marketing

• Predictive Media Intelligence

• Employee Advocacy, and

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Leveraging advanced AI and automation, Sprout Social processes over 1 billion messages daily, enabling customers to access critical insights and drive impactful results from day one.

The platform is designed for ease of use, requiring no specialized certifications or expertise in Boolean queries.

The platform is designed for ease of use, requiring no specialized

certifications or expertise in Boolean queries.

Customers can quickly harness the power of AI to gain insights and manage campaigns effectively.

• Our AI is human-centric .

Our AI and automation doesn’t just support teams - it amplifies their strengths and supercharges their capabilities, empowering them to think outside the box when it comes to social.

Our AI and automation does not only support teams - it amplifies their strengths and supercharges their capabilities, empowering them to think outside the box when it comes to social.

We intentionally build our AI to be human-centric, to complement and empower the people behind the brand.

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The CSAT score is determined based on an internal survey of customers following the resolution/closure of a support case.

We prioritize customer-driven innovation, using feedback from our approximately 30,000 customers to guide our product roadmap.

We prioritize customer-driven innovation, using feedback from tens of thousands of customers to guide our product roadmap.

This helps us identify the features and products most important to our customers, enabling us to deliver a platform that creates compelling, user-focused experiences.

Additionally, customers receive exclusive access to The Arboretum, a dynamic

community of over 10,000 members, where they receive ongoing support and social expertise needed to drive impact.

Additionally, customers receive exclusive access to The Arboretum, a dynamic community of over 10,000 members, where they receive ongoing support and social expertise needed to drive impact.

• Our social media network partner relationships are strong.

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• Our platform is proven to be scalable, reliable and secure.

With around 30,000 customers, our platform is built to scale and to deliver exceptional performance, reliability, and insights into emerging market trends.

Our platform is built to scale and to deliver exceptional performance, reliability, and insights into emerging market trends.

Sprout Social’s software supports businesses of all sizes, including enterprises, with 99.99% uptime.

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Our robust content marketing engine is designed to deliver thought leadership to all decision makers in the buying process, from practitioners to executives.

As a result of our strong brand and reputation for quality and service, we generated more than 80% of our revenue from new customers in 2024 from unpaid channels.

As a result of our strong brand and reputation for quality and service, we are able to generate a significant portion of our revenue from unpaid channels.

• We foster a world-class culture .

Our success is possible because of our award-winning culture, which allows us to attract and retain top talent.

We have a deep commitment to our people and our customers that compounds our competitive advantages as we continue to grow.

We have a deep commitment to our

people and our customers that compounds our competitive advantages as we continue to grow.

Components of our Platform

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By embedding our AI throughout our intuitive platform, Sprout Social’s AI and automation seek to bring order to the chaos on social, freeing teams to think beyond limits and unleash creativity to become market leaders.

Central to this approach is Trellis, our proprietary AI agent that allows teams to ask plain-language questions and receive actionable insights from billions of social data points.

Rather than requiring users to navigate complex queries or dashboards, Trellis acts as a conversational interface to our social intelligence, enabling market research, competitive analysis, and strategic decision-making through simple, natural interactions.

From content creation and social customer care to data analysis and creating strategic insights – AI on our platform can save teams time, fast-track business outcomes, and unlock creativity.

Designed with people in mind, our AI acts as a personal assistant, empowering teams to leverage, rather than complicate or replace, their own strengths.

With more than ten years of collecting social data and trends across industries and networks and more than 15 years in sentiment and textual analysis powered by natural language processing (NLP), we

believe we can uniquely build models that provide precise outputs tailored to our customers’ social media needs.

With more than ten years of collecting social data and trends across industries and networks and more than 15 years in sentiment and textual analysis powered by natural language processing (NLP), we believe we can uniquely build models that provide precise outputs tailored to our customers’ social media needs.

Our proprietary social data, AI models, and secure AI integrations prioritize rigorous privacy and compliance to protect customer data.

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We bring public and private messages from across social networks and profiles into a single, unified inbox.

This allows our customers to centralize interactions with their audiences

and customers and provides the necessary tools and workflows to deliver seamless customer experiences.

This allows our customers to centralize interactions with their audiences and customers and provides the necessary tools and workflows to deliver seamless customer experiences.

• Comprehensive case management :

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We provide our customers the ability to automate alerts and categorization of messages, as well as a bot-builder technology that can automate high-volume customer conversations in private social channels.

Predictive Intelligence:

navigate the media landscape

In today's fast-paced digital environment, brands and publishers face tens of thousands of signals daily from breaking news to emerging trends.

Sprout Social's acquisition of NewsWhip in July 2025 expanded our predictive intelligence capabilities, empowering customers to navigate the complex media landscape with differentiated foresight and agility.

NewsWhip transforms real-time, AI-powered intelligence into social action, helping brands stay ahead of trends and risks with speed, precision and purpose.

NewsWhip's innovative AI agents and real-time monitoring capabilities enable our customers to proactively manage brand crises, detect reputation threats before they escalate, and make data-driven decisions with confidence.

• Real-time media monitoring.

We can discover new articles and posts in as little as 60 seconds across web publishers and social platforms including Facebook, X, Reddit, TikTok, Instagram, and YouTube.

Our platform monitors millions of news and social media signals per hour, surfacing rising narratives and assessing momentum to help customers stay informed on emerging stories as they unfold.

• Predictive analytics and trend identification.

We provide predicted engagement levels for content, allowing customers to identify stories gaining momentum before they reach peak virality.

Our unique metrics, including Highest Velocity and Overperforming, help customers discover viral content and understand which stories may be impactful in the next 24 hours.

• AI-powered monitoring agents.

Our industry-first real-time monitoring agent actively scans global news, detects meaningful shifts, and delivers analyst-quality alerts in minutes.

The agent not only notifies customers but explains what is happening, why it matters, and how situations are evolving, enabling faster and more informed decision-making for crisis management and reputation protection.

• Historical media intelligence.

We maintain over seven years of historical media and public engagement data, enabling customers to analyze long-term trends, understand seasonal content patterns, benchmark campaign performance, and conduct comprehensive analysis across timeframes greater than 90 days.

• Comprehensive engagement data.

We bring together public interest and media interest data to give customers a complete understanding of any crisis, event, or trend.

Our platform combines real-time feeds of web and social content with public engagement data to help customers identify and predict the content that matters most to their audiences.

• Alerts, digests and reporting.

We enable customers to react swiftly and collaboratively through customizable alerts, AI-powered digests, and custom reports.

Our platform provides view-only dashboards for sharing real-time insights across organizations, PowerPoint integrations for seamless reporting, and flexible alert systems to keep teams informed when they are not actively monitoring.

• API integration and workflow automation.

We offer API access allowing customers to integrate NewsWhip data directly into their existing workflows, dashboards, and business intelligence tools, enabling seamless incorporation of predictive intelligence into their operational processes.

solve business problems faster with social insights

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Our robust reporting suite is designed for effortless customization, giving teams the power to showcase metrics that align with their organization’s unique objectives.

Thanks to Sprout Social’s proprietary algorithms that easily compare organic and paid reporting, teams can trust their insights are spot-on – essential for igniting adoption for shaping business strategies quickly.

Thanks to Sprout Social’s proprietary algorithms that easily compare

organic and paid reporting, teams can trust their insights are spot-on – essential for igniting adoption for shaping business strategies quickly.

• Comprehensive social media reporting .

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To meet the needs of our customers, we offer mobile applications that provide full access to our platform on both Android and iOS devices.

This allows customers to manage and engage with their social media operations anytime, anywhere, enabling continuous responsiveness and support for their social media strategies.

This allows customers to manage and

engage with their social media operations anytime, anywhere, enabling continuous responsiveness and support for their social media strategies.

• Chatbot creation and management .

To manage high volumes of customer messaging, we provide our customers with an intuitive interface to build and deploy chat experiences to help their audience get the information they need quickly and efficiently.

Our Market Opportunity

Due to social media’s rapidly growing strategic importance, we believe all organizations of adequate scale around the globe would benefit from using a social media management solution to engage with their consumers and drive insights from social data.

We also believe our platform addresses this significant capability gap, serving what we refer to as the social media management market.

We estimate that, based on our current average customer spending levels, the annual served addressable market (SAM) for our platform in 2023 exceeded $55 billion.

We estimate that our SAM opportunity will exceed $120 billion by 2025, an annual market growth rate of greater than 25%.

We calculated our current SAM estimate as follows:

(i) utilized data from The U.S.

Small Business Administration, The U.S.

Census Bureau, The Organisation for Economic Co-operation and Development and Statista to estimate the total number of businesses in the United States and globally in each of our served market segments (Enterprise, Mid-Market, SMB) with a social media presence;

(ii) utilized internal data and estimates to estimate the number of such businesses that require a social media management platform (the “Target Businesses”);

(iii) calculated the average of our annual contract value (ACV) and our estimate of our primary competitors’ ACVs in each segment;

and (iv) multiplied the estimated average segment ACVs by the estimated number of Target Businesses in each segment.

We then used internal

estimates informed by research from the Harris Poll to determine the projected business presence on social media in 2025 that will require a social media management platform, multiplied by our internal projected average segment ACVs in 2025 for Sprout Social and its direct competitors in the applicable segment.

Our Growth Strategies

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• Win with Enterprise customers.

We believe there is substantial opportunity to drive increased pipeline and strategic customer wins in accounts over $50,000 in annualized recurring revenue (ARR).

We believe there is substantial opportunity to drive increased pipeline and strategic customer wins in accounts contributing $50,000 or more in annualized recurring revenue (ARR).

We plan to accomplish this through a product roadmap that is increasingly focused on the requirements of Enterprise customers and within our go-to-market strategy, by driving more awareness with senior executives.

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We offer a variety of subscription-based plans to provide customers with flexibility in accessing the full value of Sprout Social based on their specific needs.

To facilitate rapid adoption and demonstrate the platform’s impact on business growth, we encourage the majority of our customers to participate in an initial 30-day free trial.

To facilitate rapid adoption and demonstrate the platform’s impact on business growth, we encourage the majority of our customers to participate in an

initial 30-day free trial.

This allows them to experience firsthand how Sprout Social can drive efficiency and performance.

For enterprise customers and organizations with large-scale social media operations, we offer managed trials that provide personalized support to help them realize the full value of the platform.

enterprises receive white-glove onboarding, a customized implementation plan, dedicated assistance for single sign-on (SSO) setup, and priority customer support.

These enterprises receive white-glove onboarding, a customized implementation plan, dedicated assistance for single sign-on (SSO) setup, and priority customer support.

Our platform is licensed on a per-user, per-month basis, providing scalability to meet the needs of businesses of all sizes.

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Customers add product modules (e.g., Listening) for an additional monthly rate depending on their needs.

We have a highly diverse base of approximately 30,000 current customers across SMBs, Mid-market companies, Enterprises and marketing agencies, as well as government, non-profit and educational institutions.

We have a highly diverse base of tens of thousands of customers across SMBs, Mid-market companies, Enterprises and marketing agencies, as well as government, non-profit and educational institutions.

We have been increasingly focused on the Mid-market and Enterprise segments, and we expect that our current and future growth will likely be driven by outsized contributions from Mid-market and Enterprise.

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We leverage a product-led strategy, allowing potential customers to engage with our platform through free trials and product demonstrations.

A significant portion of customers subscribing without direct sales intervention.

In 2025, we plan to enhance our go-to-market execution by prioritizing enterprise growth, multi-threaded sales motions, and targeted regional expansion.

Our strategic focus includes high-value enterprise deals, verticalized go-to-market strategies, and deeper customer engagement across industries.

We believe investments in influencer marketing, expanded partnerships, and international market development will further strengthen our ability to scale globally.

A significant portion of customers subscribe without direct sales intervention.

In 2026, we plan to enhance our go-to-market execution by prioritizing enterprise growth and multi-threaded sales motions.

Our strategic focus includes high-value deals, verticalized go-to-market strategies, and deeper customer engagement across industries.

We believe investments in influencer marketing, predictive analytics, expanded partnerships, and international market development will further strengthen our ability to scale globally.

As customers recognize the value of our platform, adoption naturally expands across the departments of their organizations through word-of-mouth and demonstrated impact.

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With our self-serve, inside and field sales strategies, we seek to efficiently provide each customer segment with an exceptional experience and efficient scalability.

Our marketing team is focused on generating awareness of our social media management platform and on inbound marketing through our industry leading blog and other social content, including our own large social media following.

Our marketing team is focused on generating awareness of our social media management platform and on inbound marketing through our industry leading blog and other social content, including

our own large social media following.

The majority of inbound trials and demonstration requests are generated from unpaid marketing, allowing us to rapidly test, adapt and optimize our go-to-market motion.

As of December 31, 2024, our sales and marketing department had 700 employees.

Our sales and marketing expenses were $190.6 million, $184.1 million and $168.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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Additionally, our on-demand help center supports customers in becoming self-sufficient without requiring ongoing support.

As of December 31, 2024, our customer service department had 58 employees.

Customer service costs are included in Cost of revenue within the Consolidated Statements of Operations.

Research and Development

We have a proven research and development team that rapidly delivers high-quality products, which has driven our customer growth.

We have a proven research and development team that rapidly delivers high-quality products, which has driven our growth.

Our ability to lead in the social media management market depends on our introduction of new products and continuing to improve our current offerings.

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We invest substantial resources in research and development to drive our technology innovation and bring new products to the market.

As of December 31, 2024, our research and development department had 302 employees.

Our research and development expenses were $101.3 million, $102.8 million and $79.6 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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Intellectual Property

We rely on a combination of patent, trade secret, copyright and trademark laws, a variety of contractual arrangements, such as license agreements, assignment agreements, confidentiality and non-disclosure agreements, and confidentiality procedures and technical measures to protect rights in our proprietary property.

We have three issued U.S.

We rely on a combination of patent, trade secret, copyright and trademark laws, a variety of contractual arrangements, such as license agreements, assignment agreements, confidentiality and non-disclosure agreements, and confidentiality procedures and technical and technological measures to protect rights in our proprietary technology and intellectual property.

We have seven issued U.S.

patents and two U.S.

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We intend to pursue additional patent protection to the extent we believe it would be beneficial and cost-effective.

However, we cannot be certain that any patents will be issued with claims of sufficient scope to provide meaningful protection or competitive advantage.

We actively pursue registration of our trademarks, logos, service marks and domain names in the United States and in other key jurisdictions.

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We seek to protect our trade secrets and confidential information through a variety of methods, including confidentiality agreements with employees and third parties who may have access to our proprietary information.

We also require most employees to sign agreements, pursuant to which such they assign to us any inventions, developments and other technology generated by them on our behalf.

We also require most employees to sign agreements, pursuant to which they assign to us any inventions, developments and other technology generated by them on our behalf.

Accordingly, while we believe our intellectual property is sufficiently protected, the failure to obtain or the loss of some of these rights could have an adverse effect on our business, financial condition and results of operations.

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The manner in which existing laws and regulations are applied in this environment, and how they will relate to our business in particular, both in the United States and internationally, is often unclear.

credit card fraud, advertising, taxation, content regulation and intellectual property ownership and infringement.

Our customers, and those with whom they communicate using our platform, upload and store data onto our platform, generally without any restrictions imposed by us.

For example, we sometimes cannot be certain which laws will be deemed applicable to us given the global nature of our business, including with respect to such topics as data privacy and security, pricing, credit card fraud, advertising, taxation, content regulation and intellectual property ownership and infringement.

Our customers, and those with whom they communicate using our platform, upload and store data onto our platform, generally without any restrictions imposed by us as to the nature of such content, subject to our terms of service.

This presents legal challenges to our business and operations, such as rights of privacy or intellectual property rights related to the content loaded onto our platform.

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Our customers can use our platform to upload and present a wide variety of content.

In general, our customer terms of service state that customers agree not to, nor

authorize or permit any third parties to use our products to post, upload, link to, send, distribute, or store any content that is protected by copyright, trademark, or any other proprietary right without first having obtained all rights, permissions, and consents necessary to make such content available on or through our products.

In general, our customer terms of service state that customers agree not to, nor authorize or permit any third parties to use our products to post, upload, link to, send, distribute, or store any content that is protected by copyright, trademark, or any other proprietary right without first having obtained all rights, permissions, and consents necessary to make such content available on or through our products.

As our business expands to other countries, we must respond to regional and country-specific intellectual property considerations, including takedown and cease-and-desist notices in foreign languages, and we must build infrastructure to support these processes.

The Digital Millennium Copyright Act, or DMCA, also applies to our business in the United States.

This statute provides relief for claims of circumvention of copyright-protected technologies but includes a safe harbor that is intended to reduce the liability of online service providers for listing or linking to third-party websites or hosting content that infringes copyrights of others.

This statute provides relief for claims of copyright infringement by third parties but includes a safe harbor that is intended to reduce the liability of online service providers for listing or linking to third-party websites or hosting content that infringes copyrights of others.

The copyright infringement practices that we have implemented for our platform are intended to satisfy the DMCA safe harbor.

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At Sprout Social, we are proud to be recognized as a Built In “Best Place to Work” in 2025, a testament to the exceptional people who make up our team.

This marks the sixth consecutive year we have received this honor, celebrating our commitment to fostering a workplace where employees feel inspired, valued, and empowered to thrive.

This is our seventh consecutive year receiving this honor.

The annual Built In awards recognize companies across all sizes and industries, including both remote-first organizations and those in major tech markets across the U.S.

This recognition underscores the essence of our culture:

one rooted in inclusivity, innovation, and genuine care for one another.

a purposeful, collaborative, and bold team that delivers exceptional results.

This year, we are thrilled to have been named to three Built In Best Places to Work lists for 2025:

the 100 Best Large Places to Work in Chicago, the 100 Best Large Places to Work in Seattle, and the 100 Best Places to Work in Seattle.

These accolades are particularly meaningful because they reflect what employees value most—culture, benefits, and opportunities for growth.

They affirm that Sprout Social is not just a great place to work but a leader in shaping exceptional workplace experiences.

This achievement speaks to our team’s dedication, collaboration, and shared commitment to living our values every day.

At the heart of these accomplishments is our unwavering commitment to transparency and aligning our people strategy with our values.

Transparency in human capital management is not just a priority at Sprout Social;

it’s a cornerstone of who we are.

By integrating workforce strategies with business objectives, we strive to create an environment where people and businesses thrive together.

Every decision we make—whether about our product, our people, or our business—is guided by our values and vision for the future.

These principles keep us focused on making sustainable and equitable choices that drive meaningful outcomes for employees, customers, and stakeholders alike.

Our human capital initiatives are designed to empower every team member with the tools, support, and resources they need to succeed.

As we continue to push boundaries in employee engagement, development, and inclusion, we remain steadfast in fostering a workplace that inspires excellence and brings out the best in all of us.

Together, we are building a culture defined by trust, transparency, and shared success.

Best Large Places to Work in Seattle, Best Places to Work in Seattle, and the Best Large Places to Work in Chicago.

These accolades belong to our entire global team, and affirm our dedication and shared commitment to living our values every day.

Central to how we have achieved our world class culture is a commitment to listening and transparency.

We align our people strategies to our company values and business vision, while collecting continuous feedback from our team and adjusting our approach to meet their needs.

By doing so, we strive to foster an environment where the best ideas win and our employees and our business grow together.

In turn, we create sustainable choices that deliver real outcomes for our team, customers, and stakeholders.

This year, our focus is on empowering our team to do the best work of their careers, with the support and tools they need to succeed.

As we continue to strengthen our employee engagement and performance, we’re committed to fostering a culture that inspires excellence and brings out the best in all of us.

Our Workforce

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Geographically, our workforce spanned multiple locations, with 369 team members based outside the United States.

Sprout Social also aspires to create a world-class, flexible, and inclusive hybrid culture that enables exceptional work and fosters belonging.

We prioritize opportunities to bring our distributed teams together through regional meetups, team gatherings at our offices twice a year, and local events such as Happy Hours and Breakfast Bars.

Sprout Social also aspires to create a world-class, flexible, and inclusive hybrid culture that enables exceptional work.

We prioritize opportunities to bring our distributed teams together through

meetups and team gatherings at our offices yearly, and local events such as Happy Hours and Breakfast Bars.

These moments foster meaningful connections within our global community, strengthening bonds and enhancing engagement.

Employee Development

Sprout Social’s commitment to employee growth was evident in 2024 through our robust learning and development programs.

Our Grow@ platform provided employees with access to a wealth of digital, on-demand learning resources.

Departments complemented these offerings with specialized training programs tailored to critical skills and competencies.

These efforts underscored our dedication to creating personalized and impactful development experiences.

Performance management remained a key area of focus, with all managers completing annual performance reviews for their teams.

In 2024, we reimagined our performance development framework, introducing biannual reviews, quarterly goal syncs, and structured talent reviews.

This refreshed approach emphasized objective performance criteria and alignment with strategic priorities, laying a strong foundation for our 2025 initiatives.

Sprout Social’s commitment to employee growth and development continued in 2025 through a focus on department-specific investments and a refreshed performance management framework.

During the year, we empowered department leaders to implement custom learning solutions, such as team-wide skill-building, designed to meet the unique needs of their specific functions.

By shifting toward specialized, department-based learning, we have been able to more effectively bridge skill gaps and ensure that development efforts are directly contributing to functional excellence and operational efficiency.

Performance management remained a primary focus, with all managers completing biannual reviews for their teams.

We continued to optimize this experience in response to employee feedback, placing a stronger emphasis on actionable, forward-looking coaching.

By providing our workforce with a clearer line of sight into success criteria and future growth, we are creating the organizational conditions that fuel high performance.

Employee sentiment throughout 2025 indicates that this strategy is resonating, helping to accelerate our high-performance engine as we look toward 2026.

Engagement & Recognition

In 2024, we launched Sprout Social’s first Culture Survey to gain deeper insights into our organizational culture.

The survey achieved a 64% response rate, revealing high levels of trust and an Employee Net Promoter Score (eNPS) of 32.

These metrics highlight the strength of our workplace:

trust, measured at 77, places us in the second quartile of our survey provider’s benchmarks, demonstrating a solid foundation for employee confidence in leadership and the organization.

Our eNPS score, exceeding the SaaS industry average by 1 point and landing in the first quartile of benchmarks, reflects strong employee advocacy and satisfaction.

These findings informed our efforts to cultivate a culture aligned with our strategic goals and employee values.

Recognition remained a cornerstone of our engagement strategy.

Through our Value Awards, we celebrated employees who exemplified Sprout Social’s values.

Award recipients received a $2,000 prize and a $500 charitable donation to an organization of their choice, demonstrating our commitment to community impact.

Additionally, milestone anniversaries were marked with custom branded swag, fostering pride and connection among employees.

Employee listening is a central component of our people strategy.

In 2025, we increased our listening rituals to gather more frequent, real-time feedback from our employees.

This increased cadence allows leadership to better understand where we can improve our workflows and how we can empower our team to have a greater impact on our strategic goals.

Across our biannual pulse surveys, we achieved a consistent 80% participation rate.

We view this high level of voluntary participation as a key indicator of a highly engaged workforce and a culture built on mutual trust.

Recognition remains a cornerstone of our engagement strategy.

Through our Value Awards, we celebrate employees who exemplify Sprout Social’s values.

Award recipients receive a $2,000 prize and a $500 charitable donation to an organization of their choice, reinforcing our commitment to both our people and community impact.

Additionally, we continue to celebrate milestone moments and anniversaries with branded swag, fostering a sense of pride and connection among our global team.

Total Rewards

Sprout Social’s total rewards philosophy in 2024 was built on a foundation of fairness, competitiveness, and holistic well-being, ensuring our employees feel valued and supported at every stage of their personal and professional journeys.

Sprout Social’s total rewards philosophy in 2025 was built on a foundation of fairness, competitiveness, and well-being, ensuring our employees feel valued and supported at every stage of their personal and professional journeys.

Our comprehensive benefits offerings reflect our commitment to enabling employees to thrive both inside and outside of work.

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Additionally, our Employee Stock Purchase Plan (currently available in the U.S.) allows employees to share in Sprout Social’s financial success by purchasing stock at a discounted rate, reinforcing their stake in our collective growth.

Our benefits offerings are designed to meet the diverse needs of our workforce, providing comprehensive healthcare, generous PTO, and retirement plans with company matching.

To support employees in living fully and healthily, we offer income replacement plans, such as short- and long-term disability, as well as life insurance.

These benefits are tailored to local markets, ensuring relevance and accessibility for our global team.

In 2024, we continued to prioritize support for growing families, offering a $5,000 family planning benefit for surrogacy and adoption, as well as a global parental leave program that provides equal time off

for all parents.

Our benefits offerings are designed to attract and retain talent while aligning with local market practices and regulatory requirements across the jurisdictions in which we operate.

In the U.S., our benefits suite includes comprehensive healthcare, a 401(k) retirement plan featuring a company match to support employee financial wellness, and a flexible PTO policy designed to support a positive work-life

Internationally, our benefits are structured to complement statutory requirements and may include supplemental health and life insurance, disability coverage, and pension or retirement savings plans.

In 2025, we continued to prioritize support for growing families, offering a $5,000 family planning benefit for surrogacy and adoption, as well as enhancing our global parental leave programs to be better aligned with international practices and standards.

We also enhanced our global bereavement leave policy to ensure that employees have the space they need to process grief and be there for their loved ones during difficult times.

Our global Lifestyle Spending Account empowers employees to prioritize their personal health and well-being, while new hire stipends for home office setups and ongoing Wi-Fi reimbursements enable productivity in our hybrid work environment.

As a company, in 2025, we also had nine “R&R” days in addition to holidays to help encourage employee wellbeing.

Beyond the essentials, Sprout Social offers a range of additional well-being benefits that underscore our holistic approach to employee care.

These resources include financial wellness tools, legal support, identity theft protection, pet insurance, and backup care for children and elders.

By continually evaluating and evolving our rewards and benefits, we aim to provide an exceptional employee experience that drives engagement, retention, and long-term success.

By continually evaluating and evolving our rewards and benefits, we aim to provide an exceptional employee experience that helps attract amazing talent, and drives engagement, retention, and long-term success.

Governance & Accountability

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The safety and well-being of our employees continued to be a top priority in 2025.

Our hybrid work model allowed employees to choose their ideal work environment, supported by ergonomic office stipends and flexible schedules.

Our hybrid work model allowed employees to choose their ideal work environment, supported by ergonomic office stipends, educational resources on ergonomics and flexible schedules.

We maintained rigorous safety protocols in our offices, equipping them with life-saving tools and ensuring secure access.

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At the start of 2025, Sprout Social renewed its values to reflect our bold ambitions and commitment to achieving extraordinary things.

But values don’t mean much if they’re just words.

But values don’t mean much if they are just words.

Whether we lead a team, manage a project, or shape group dynamics, we all play a key role in bringing our values to life.

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• Change the game.

We redefine what’s possible, act boldly and transform challenges into breakthroughs.

We redefine what is possible, act boldly and transform challenges into breakthroughs.

• All in, All together.

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Our values are more than just words.

They’re the foundation of our culture — the principles that guide our decisions and the behaviors that shape how we show up every day.

They are the foundation of our culture — the principles that guide our decisions and the behaviors that shape how we show up every day.

By integrating them into our daily work, meetings, feedback, recognition, and decision-making, we keep them alive and thriving.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business