Sprinklr, Inc. has recently released its 10-Q report, providing a detailed look at its financial condition and results of operations. The company, headquartered in New York, provides enterprise cloud software products worldwide, focusing on Unified Customer Experience Management. Sprinklr's products include Sprinklr Service, Sprinklr Social, Sprinklr Insights, and Sprinklr Marketing, all powered by artificial intelligence (AI) to enhance customer experiences. The company generates revenue from the sale of subscriptions to its Unified-CXM platform and related professional services, primarily targeting large global enterprises.
In the 10-Q report, Sprinklr discusses key business metrics such as Remaining Performance Obligation (RPO) and net dollar expansion rate (NDE). As of April 30, 2024, the RPO expected to be recognized as revenue was $922.5 million, with a current RPO of $570.4 million. The net dollar expansion rate, on a trailing 12-month basis, was 114.6%, indicating the company's ability to retain and expand subscription revenue from existing customers.
The report also addresses macroeconomic considerations, highlighting potential impacts on the company's business and results of operations. Sprinklr notes that unfavorable economic conditions, such as rising inflation and global economic uncertainty, could negatively affect its growth and results. However, the company states that the net result of inflationary impacts and its mitigation efforts have not been material during the periods covered in the report.
In terms of financial performance, for the three months ended April 30, 2024, Sprinklr reported total revenue of $195.96 million, a 13% increase from the same period in 2023. Subscription revenue contributed $177.36 million, reflecting a 12% increase, while professional services revenue reached $18.60 million, marking an 18% increase.
The company's operating expenses, including research and development, sales and marketing, and general and administrative expenses, totaled $139.12 million. Sprinklr reported an operating income of $5.71 million for the period, compared to a loss of $3.19 million in the same period in 2023. The net income for the three months ended April 30, 2024, was $10.63 million, a significant increase from $2.81 million in the corresponding period in 2023.
The 10-Q report provides a comprehensive overview of Sprinklr's financial performance, offering insights into its revenue sources, key business metrics, and the potential impact of macroeconomic conditions on its operations. Following these announcements, the company's shares moved 1.2%, and are now trading at a price of $10.84. Check out the company's full 10-Q submission here.
