Momentive Global Inc. (MNTV) saw a decrease of 8.51% in the premarket after the company announced preliminary third-quarter results in 2021. However, the last trading session closed at $24.92 with an incline of 1.47%.
Preliminary Third Quarter 2021 Financial Results
MNTV released preliminary third-quarter 2021 financial results on 28th October 2021. Total sales increased by 20% year over year to $114.8 million. Moreover, the revenue from enterprise sales increased by 37% year over year to $37.6 million. Enterprise sales revenue increased to almost 33% of total revenue in Q3 2020, up from around 29% in Q3 2020. Self-serve income grew by 13% year over year to $77.1 million. The non-GAAP operating margin was 6.5 percent, while the GAAP operating margin was negative 17.1 percent.
Furthermore, the non-GAAP operating margin surpassed the high end of the previously given target range of 2.0% to 4.0%. Operating operations generated $16.7 million in net cash and $14.7 million in free cash flow. Deferred revenue increased by 20% year over year to $197.6 million. Last but not least, the total amount of outstanding performance obligations was $222.6 million, up 21% year over year.
Acquisition of Momentive and Its Iconic SurveyMonkey Platform
On 28th October 2021, the company reported that Zendesk and MNTV have reached a final deal under which Zendesk will acquire Momentive, including its well-known survey platform SurveyMonkey. Zendesk anticipates the merger to be growth accretive in its first full operational year and to accelerate Zendesk’s sales goal to $3.5 billion in 2024, a year ahead of schedule.
MNTV’s enterprise traction is projected to grow because of the firms’ respective large client bases and complementary capabilities. To support the merger, Zendesk will deploy scale savings into enticing growth possibilities. Momentive CEO Zander Lurie will remain in charge of the company’s strong management team when the acquisition is completed.
GetFeedback Salesforce integration
On 6th October 2021, MNTV updated about the new connections formed between GetFeedback and the Salesforce platform. GetFeedback is a quick-to-deploy customer experience solution that doesn’t require a large investment in computing expertise or third-party consultants. It’s the highest customer feedback solution on Salesforce AppExchange, and it’s purpose-built for the Salesforce ecosystem.
Moreover, users can integrate the voice of the customer throughout more sections of the organization, raising awareness of CX feedback and accountability for CX results across teams, thanks to the improved Slack interface, Salesforce connectivity, and new GetFeedback app. Last but not least, these additional capabilities may assist CX teams in turning insight into action more quickly, reducing siloed data, scaling their efforts, and demonstrating the effectiveness of CX projects to key stakeholders.