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Oct 31, 2023
Sprinklr Q3 2024 Earnings Report
Sprinklr's Q3 2024 financial results were announced, demonstrating growth and profitability.
Key Takeaways
Sprinklr reported a solid third quarter with total revenue of $186.3 million, up 18% year-over-year, and subscription revenue of $170.5 million, up 22% year-over-year. The company achieved record profitability, driven by its Sprinklr Service product suite, and generated $21.0 million in net cash from operating activities and $15.9 million in free cash flow.
Total revenue reached $186.3 million, reflecting an 18% increase year-over-year.
Subscription revenue grew to $170.5 million, a 22% increase year-over-year.
GAAP operating income was $13.2 million, compared to an operating loss of $4.6 million in the same quarter last year.
The company reported net income per share of $0.06, compared to a net loss per share of $0.02 in the third quarter of fiscal year 2023.
Sprinklr
Sprinklr
Sprinklr Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Sprinklr provided guidance for the fourth fiscal quarter ending January 31, 2024, and the full fiscal year ending January 31, 2024.
Positive Outlook
- Subscription revenue is expected to be between $172.5 million and $174.5 million for Q4 2024.
- Total revenue is projected to be between $187.5 million and $189.5 million for Q4 2024.
- Non-GAAP operating income is anticipated to be between $20.3 million and $22.3 million for Q4 2024.
- Non-GAAP net income per share is expected to be between $0.08 and $0.09, assuming 275 million basic weighted-average shares outstanding for Q4 2024.
- Subscription revenue is expected to be between $664 million and $666 million for fiscal year 2024.
Challenges Ahead
- Total revenue is projected to be between $725.5 million and $727.5 million for fiscal year 2024.
- Non-GAAP operating income is anticipated to be between $80 million and $82 million for fiscal year 2024.
- Non-GAAP net income per share is expected to be between $0.36 and $0.37, assuming 273 million basic weighted-average shares outstanding for fiscal year 2024.
- The company has not reconciled its financial outlook expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their most directly comparable U.S. GAAP measures.
- The variability of certain charges could have a significant, and potentially unpredictable, impact on the company's future U.S. GAAP financial results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income