Earlier this summer, online survey services provider SurveyMonkey announced its plans to rebrand itself as Momentive. The company believes that Momentive (Nasdaq: MNTV) will capture its history of providing intuitive, agile software solutions, allowing decision-makers to act with speed and agility.

Momentive’s Financials

Momentive’s second-quarter revenues grew 20% to $109.4 million. GAAP net loss was $29.2 million and non-GAAP loss was $0.01 per share. The market forecast revenues of $107.43 and a loss per share of $0.00.

Enterprise sales revenues accounted for 31% of the quarter’s revenues and grew 33%. It ended the quarter with over 9,400 enterprise sales customers, up 30%. Deferred revenue grew 24% to $197.3 million and the remaining performance obligation grew 24% to $221.6 million.

Paying users grew 10% to 862,2000. It ended the quarter with almost 90% of its paying users on annual plans, up from 86% from last year. The average revenue per user grew 8% to $514.

For the third quarter, Momentive expects to report revenues of $112.5-$114.5 million. For the year, Momentive expects revenues of $443-$447 million. The market forecast revenues of $107.43 million and a breakeven EPS for the quarter, and revenues of $444.4 million, and EPS of $0.03 for the year.

Momentive’s Product Upgrades

Recently, Momentive announced the launch of its SurveyMonkey Enterprise app for Zoom. The app provides an embedded feedback experience that is accessible within both the Zoom meetings and the desktop client. By funneling crucial stakeholder insights, Zoom will have the ability to create more meaningful interactions, thus boosting meeting effectiveness, tracking attendee engagement, and improving the experience of the employee, customer, and patient. According to a recent study, even with the pandemic conditions lifting, many believe that the Zoom culture is here to stay. The recent Delta variant has also scaled back some efforts at reopening businesses fully. The Zoom integration will allow Momentive to cash in on this trend in the quarters to come.

Additionally, Momentive is also expanding its data analytics capabilities to deepen its customers’ understanding of the rapidly changing markets in which they operate. The new features leverage AI capabilities to deliver insights that are expected to be similar to what a full-service market research agency would provide these customers, but with speed and at scale. Some of the capabilities added through the technology include a usages and attitudes solution that can help users understand the preferences, habits, and purchase behaviors of their target audience, a consumer segmentation solution to ensure the right classification of end customers, a product optimization solution that simulates real-world trade-offs to identify the right products to release, and a pricing optimization capability to arrive at the right price point for the product.

Its stock is trading at $21.12 with a market capitalization of $3.1 billion. It was trading at a 52-week high of $28.12 in February and a 52-week low of $16.35 in April.