Sprinklr Inc. (NYSE:CXM) reported its second-quarter financial results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Sprinklr reported quarterly earnings of six cents per share, which missed the analyst consensus estimate of seven cents. Quarterly sales clocked in at $197.21 million, which beat the analyst consensus estimate of $194.5 million by 1.39% and represents a 10.5% increase over the same period last year.
- Subscription Revenue was $177.9 million, up 9% year-over-year.
- Net cash provided by operating activities was $21.3 million.
- Free cash flow was $16.5 million.
- RPO and cRPO up10% and 9% year-over-year, respectively.
- Sprinklr had 145 $1 million customers,up 21% year-over-year.
“In the second quarter, we continued to expand our customer base with our industry-recognized AI-powered platform and delivered our seventh consecutive quarter of free cash flow. As we work through continued market challenges, we are taking decisive steps to strengthen our foundation to reaccelerate growth and expand margins — a process that will take several quarters,” said Ragy Thomas, Sprinklr founder and co-CEO.
“Despite these challenges, we believe that Sprinklr remains uniquely positioned to help large global enterprises unlock and deploy the power of AI across the front office, as demonstrated by multiple global deals won this quarter across all our product suites.”
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Outlook: Sprinklr expects third-quarter revenue of between $196 million and $197 million and earnings of approximately eight cents per share. The company raised its fiscal-year revenue forecast from between $779 million and $781 million to between $785 million and $787 million, versus the $780.39 million estimate, and cut its earnings outlook from between 40 cents and 41 cents per share to a range of 32 cents to 33 cents per share, versus the 41 cent estimate.
CXM Price Action: According to Benzinga Pro, Sprinklr shares are down 3.38% after-hours at $8.30 at the time of publication Wednesday.
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Image: Courtesy of Sprinklr, Inc.
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