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Sprinklr
🇺🇸 NYSE:CXM
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•
Jul 31, 2022

Sprinklr Q2 2023 Earnings Report

Sprinklr's performance exceeded expectations across key metrics, driven by focus on operational excellence and increasing efficiency.

Key Takeaways

Sprinklr reported a strong second quarter with revenue of $150.6 million, up 27% year-over-year. Subscription revenue grew by 29% year-over-year. The company is also improving its business outlook for fiscal year 2023 and confident in delivering strong revenue growth and a clear path to non-GAAP profitability.

Total revenue for Q2 reached $150.6 million, a 27% increase year-over-year.

Subscription revenue for Q2 was $133.1 million, up 29% year-over-year.

RPO and cRPO increased by 33% and 29% year-over-year, respectively.

The company had 98 customers with over $1 million in revenue, a 32% increase year-over-year.

Total Revenue
$151M
Previous year: $119M
+26.9%
EPS
-$0.03
Previous year: -$0.09
-66.7%
Customers with >$1M Revenue
98
Previous year: 74
+32.4%
Gross Profit
$108M
Previous year: $81.4M
+33.3%
Cash and Equivalents
$154M
Previous year: $434M
-64.5%
Free Cash Flow
$4.17M
Previous year: -$9.16M
-145.5%
Total Assets
$911M
Previous year: $851M
+7.0%

Sprinklr

Sprinklr

Sprinklr Revenue by Segment

Forward Guidance

Sprinklr is providing the following guidance for the third fiscal quarter ending October 31, 2022: Subscription revenue between $137 million and $139 million. Total revenue between $155 million and $157 million. Non-GAAP operating (loss) income between $(1 million) and $1 million. Non-GAAP net loss per share between $0.01 and $0.02, assuming 263 million weighted average shares outstanding. Sprinklr is providing the following guidance for the full fiscal year ending January 31, 2023: Subscription revenue between $543 million and $547 million. Total revenue between $616 million and $620 million. Non-GAAP operating loss between $8 million and $12 million. Non-GAAP net loss per share between $0.06 and $0.08, assuming 261 million weighted average shares outstanding.

Positive Outlook

  • Subscription revenue between $137 million and $139 million for Q3 2023.
  • Total revenue between $155 million and $157 million for Q3 2023.
  • Non-GAAP operating (loss) income between $(1 million) and $1 million for Q3 2023.
  • Non-GAAP net loss per share between $0.01 and $0.02 for Q3 2023.
  • Subscription revenue between $543 million and $547 million for FY 2023.

Challenges Ahead

  • Non-GAAP operating loss between $8 million and $12 million for FY 2023.
  • Non-GAAP net loss per share between $0.06 and $0.08 for FY 2023.
  • Non-GAAP operating (loss) income between $(1 million) and $1 million for Q3 2023.
  • Non-GAAP net loss per share between $0.01 and $0.02 for Q3 2023.
  • Stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in stock price.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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