Sprinklr Inc (NYSE:CXM) beats analysts’ expectations

Sprinklr Inc (NYSE:CXM) stock rose 2.89% (As on June 15, 11:16:34 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 23. The enterprise cloud software products provider said its loss widened to $25.3 million, for the quarter ended April 30, from a loss of $14.5 million, a year earlier. Subscription revenue for the first quarter was $127.3 million, up from $96.8 million one year ago, an increase of 32% year-over-year. Non-GAAP operating loss was $10.3 million, compared to non-GAAP operating loss of $1.5 million one year ago. Total cash, cash equivalents and marketable securities as of April 30, 2022 was $530.9 million. RPO and cRPO up 34% and 30% year-over-year, respectively. Q1 NDE is at 123%. The company has 90 $1 million customers, up 30% year-over-year. The company expects that the gross margin may vary from period to period and increase modestly in the long term. The level and timing of investment in the professional services business could affect the costs of revenue in the future and cause the gross margin to fluctuate.

CXM in the first quarter of FY 23 has reported the adjusted loss per share of 10 cents, beating the analysts’ estimates for the adjusted loss per share of 11 cents, according to Analysts polled by FactSet. The company had reported the adjusted revenue growth of 31 percent to $145 million in the first quarter of FY 23, beating the analysts’ estimates for revenue of $141 million.

For the second quarter, the company expects revenue between $146.5 million and $148.5 million with an adjusted loss between 5 cents and 6 cents a share. for the second fiscal quarter ending July 31, 2022, the company expects subscription revenue to be between $129.5 million and $131.5 million and Non-GAAP operating loss to be between $11 million and $13 million.

For the fiscal year, the company expects revenue of $612 million to $618 million and an adjusted loss of 18 cents to 20 cents a share. Analysts polled by FactSet expect $610.5 million in revenue and an adjusted loss of 21 cents a share for the fiscal year. For the full fiscal year ending January 31, 2023, the company expects subscription revenue to be between $540.5 million and $546.5 million and Non-GAAP operating loss to be between $37 million and $41 million.

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