Sprinklr Inc. Reports Strong Revenue Growth Amid Earnings Miss
Sprinklr Inc. Reports Strong Revenue Growth Amid Earnings Miss
Sprinklr Inc. (NYSE:CXM) recently announced its second-quarter financial results. The customer experience management platform beat revenue expectations but fell short on earnings. Following the report, the company saw a 3% dip in its stock price.
Quarterly Financial Performance
In the latest quarter, Sprinklr posted adjusted earnings per share of $0.06, which was below analysts' expectations of $0.07. However, revenue for the quarter reached $197.2 million, surpassing the consensus forecast of $194.51 million and showcasing an impressive 11% growth compared to the same period last year.
Customer Base Expansion
Ragy Thomas, Sprinklr Founder and Co-CEO, expressed his enthusiasm for the company's performance, stating, "In the second quarter, we continued to expand our customer base with our industry-recognized AI-powered platform and delivered our 7th consecutive quarter of free cash flow." This highlights Sprinklr's ongoing commitment to enhancing its services and maintaining a solid financial trajectory.
Future Outlook and Guidance
Looking ahead, Sprinklr has set its expectations for the third quarter with anticipated revenue between $196 million and $197 million, which exceeds current analyst projections of $193.8 million. Despite the positive revenue forecast, the company’s earnings per share guidance is pegged at around $0.08, which is below the consensus estimate of $0.12.
Revised Full-Year Projections
Moreover, Sprinklr has notably adjusted its full-year revenue outlook, now forecasted to be between $785 million and $787 million, improving from previous guidance and ahead of Wall Street's expectations of $780.4 million. Conversely, the company has revised its full-year earnings guidance downwards to an EPS range of $0.32 to $0.33, falling short of the analyst estimate of $0.41.
Subscription Revenue Growth
In terms of subscription performance, Sprinklr reported a 9% increase year-over-year in subscription revenue, totaling $177.9 million for the second quarter. The company also noted significant growth in its client base, finishing the quarter with 145 customers who each contributed over $1 million in annual revenue, representing a 21% increase from last year.
Frequently Asked Questions
What were Sprinklr's earnings per share for the second quarter?
Sprinklr reported adjusted earnings per share of $0.06 for the second quarter.
How much revenue did Sprinklr generate in the latest quarter?
Sprinklr generated revenue of $197.2 million, surpassing analyst expectations.
What is Sprinklr's revenue outlook for the full year?
Sprinklr projects its full-year revenue to be between $785 million and $787 million.
How did Sprinklr's stock perform after the earnings report?
Following the earnings report, Sprinklr's stock dipped by 3%.
What growth did Sprinklr see in its subscription revenue?
Sprinklr's subscription revenue grew by 9% year-over-year, amounting to $177.9 million in the second quarter.
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