Sprinklr's 10-K Reveals Soaring Profits and Sales

By Tamara Parker • Friday, March 29 10:13 • Permanent Link

Sprinklr, Inc. is a global enterprise cloud software company that offers a Unified Customer Experience Management (Unified-CXM) platform. This platform is designed to analyze unstructured customer experience data and integrate all stages of the customer journey. The company generates revenue from the sale of subscriptions to its Unified-CXM platform and related professional services. As of January 31, 2024, Sprinklr had 1,735 customers, including more than 60% of the Fortune 100 companies.

Key Business Metrics: Remaining Performance Obligation (RPO) as of January 31, 2024, was $966.6 million, up from $719.5 million in the previous year. Net Dollar Expansion Rate (NDE) on a trailing 12-month basis was 117.7% for the period ending January 31, 2024, compared to 123.9% for the same period in 2023.

Financial Results: Total revenue for the year ended January 31, 2024, was $732.4 million, compared to $618.2 million in the previous year. Gross profit for the same period was $553.0 million, up from $454.5 million in the previous year. Operating income for the year ended January 31, 2024, was $33.9 million, compared to a loss of $51.2 million in the previous year. Net income for the year ended January 31, 2024, was $51.4 million, compared to a loss of $55.7 million in the previous year.

Costs of Revenue: Costs of subscription revenue for the year ended January 31, 2024, were $116.0 million, up from $102.3 million in the previous year. Costs of professional services revenue for the same period were $63.4 million, compared to $61.4 million in the previous year.

Operating Expenses: Research and development expense for the year ended January 31, 2024, was $91.3 million, up from $76.7 million in the previous year. Sales and marketing expense for the same period was $321.8 million, compared to $336.7 million in the previous year. * General and administrative expense for the year ended January 31, 2024, was $105.9 million, up from $92.3 million in the previous year.

The company's financial results reflect its continued efforts to grow its customer base and expand its Unified-CXM platform, despite challenges posed by macroeconomic conditions and heightened competition. The market has reacted to these announcements by moving the company's shares -5.7% to a price of $12.27. Check out the company's full 10-K submission here.

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