Sprinklr Inc (NYSE:CXM) stock rallies 18.21% (As on Apr 7, 12:22:34 AM UTC-4, Source: Google Finance) after the company beaten Wall Street’s estimates for the fourth quarter of FY 22. On a non-GAAP basis, the subscription gross margins improved further to 80% due to cloud operations, leading to a total non-GAAP gross margin of 71%. During the fourth quarter, total non-GAAP operating expenses increased 57% over the prior year to $108.2 million, representing 80% of revenues, up from 66% of revenues during the same period last year. Non-GAAP operating loss was $11.5 million or $0.05 per share. As of the end of FY ’22, total remaining performance obligations, or RPO, which represents revenue from committed customer contracts that has not yet been recognized, was $586.4 million, up 36% compared to the same period last year, and CRPO was $409.2 million, up 30% year over year. The company now have 82 customers contributing $1 million or more in subscription revenue over the last year, which is a 26% increase year over year. CXM ended the fiscal year with 1,166 customers.

CXM in the fourth quarter of FY 22 has reported the adjusted loss per share of 5 cents, beating the analysts’ estimates for the adjusted loss per share of 9 cents. The company had reported the adjusted revenue growth of 30 percent to $136 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $130.38 million. This was driven by subscription revenues of $117.7 million, which grew 31% year over year.

Sprinklr expects FY2023 EPS to be in the range of $0.20-$0.22, versus the consensus of ($0.20). Sprinklr expects FY2023 revenue to be in the range of $607-615 million, versus the consensus of $588 million. For FY 2023, the company expects subscription revenues to be in the range of $536 million to $544 million, representing 26% growth year over year at the midpoint

For the first quarter of FY ’23, the company expects total revenue for the first quarter to be in the range of $140 million to $142 million, representing 27% growth year over year at the midpoint. Within this, the company expects subscription revenues to be in the range of $123 million to $125 million, representing 28% growth year over year at the midpoint. CXM expects a non-GAAP operating loss in the range of $14 million to $16 million and a non-GAAP net loss per share of $0.06 to $0.07.