Qualtrics management team has added two seasoned industry executives, making its Board of Directors now a governing group of 11 members.
On Qualtrics news, the creator of the Experience Management (XM) category and SAP-owned company made back-to-back major announcements this week– its stellar fourth quarter and full-year financial performance and the appointment of two new Executive Board members, Omar Johnson and Ritu Bhargava.
Crossing $1M Revenue in 2021
Though the Qualtrics IPO has impacted SAP’s IFRS operating profit and operating margin in 2021 as mentioned in the preliminary full-year financial report of SAP, Qualtrics’ first fiscal year as a public-traded software company under the ticker symbol “XM” accomplished an outstanding performance. The XM company achieved a full-year $1,075.7 million revenue ended 31 December 2021, a 41{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd} increase from last year’s $763.5 million and a double-digit revenue growth (48{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd}) year over year in its quarter-four performance to $316.0 million from $213.6 million in 2020.
Commenting on the the company’s 2021 financials, Qualtrics CEO Zig Serafin wrote on LinkedIn:
“Phenomenal Q4 to finish our first year as a public company, as we accelerated through the $1B revenue milestone. As every company becomes a digital company, our experience management platform is enabling deep connections with employees and customers – and we have an incredible opportunity ahead of us.”
“Grateful for the amazing Qualtrics team and incredible customers powering XM,” he added.
For the company’s subscription revenues, 2021’s full-year performance recorded a 51{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd} growth versus last year reaching $870.7 million, a significant increase from $575.4 million in 2020. Similarly, Qualtrics’ fourth quarter reported a 61{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd} growth in subscription revenue reaching $259.0 million, an increase from last year’s $160.4 million.
Qualtrics’ fiscal year 2021 operating margin was 98{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd} and the non-GAAP operating margin was 3{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd}.
The company also shared its financial outlook ending 31 March 2022 with a total revenue forecast between $324 and $326 million and subscription revenue between $270 and $272 million. Non-GAAP operating margin is expected to be between 1{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd} and 2{8bf2b29f36318f0ac46ab1cc03d7035abce669a1cea16c9ed62389a818fa22fd}.
Reinforcing Qualtrics Management Team
Qualtrics appointed two new Executive Board members to lead and continue the company’s outstanding 2021 performance and growing industry presence in today’s new era of experience management. Joining the Qualtrics Board of Directors effective immediately are top-notch marketing executive and founder of modern professional services firm ØPUS United Omar Johnson and industry veteran and Chief Product Officer for CX/CRM at SAP Ritu Bhargava.
A former CMO of Beats by Dre and VP of Marketing at Apple, Johnson is known as a marketing innovator championing collaboration and has been a “Brand Genius” by Adweek and one of the “Most Innovative CMOs” by Business Insider. In Qualtrics, he is appointed as an independent director and a member of the audit committee.
Bhargava leads product, engineering, and operations in SAP as CX product leader following her long-term leadership roles in Salesforce and Oracle. The SAP-appointed director shared on LinkedIn:
“I’m proud to join Zig Serafin, Ryan Smith, and the rest of the Qualtrics Board of Directors as they build technology that is improving people’s experiences. Experience is a strategic imperative, and creating great experiences is foundational to business success. I’m fascinated to see how Qualtrics continues to grow and innovate in this rapidly growing and transforming category.”
Welcoming the new members of the Qualtrics Executive Board, Serafin said:
“Our new members bring impressive experience to the Qualtrics board, from their work inside some of the world’s biggest technology companies. Ritu is a customer-first leader with a track record in product and engineering, and Omar is known for his leadership and innovation-building breakthrough brands and experiences. The board and I are thrilled to have the opportunity to work with them.”
