Sprinklr Inc (NYSE:CXM) stock rose 5.88% (As on September 9, 11:28:21 AM UTC-4, Source: Google Finance) after the company reported second quarter earnings that beat analysts’ forecasts and revenue that topped expectations. Subscription revenue for the second quarter was $133.1 million, up from $103.3 million one year ago, an increase of 29% year-over-year. Non-GAAP operating loss was $4.9 million, compared to non-GAAP operating loss of $10.5 million one year ago. For the second quarter, non-GAAP operating margin was (3%). Total cash, cash equivalents and marketable securities as of July 31, 2022 was $540.9 million. During the quarter, RPO and cRPO up 33% and 29% year-over-year, respectively. At the end of the quarter, there were 98 $1 million customers, up 32% year-over-year.
CXM in the second quarter of FY 23 has reported the adjusted loss per share of 3 cents, beating the analysts’ estimates for the adjusted loss per share of 6 cents. The company had reported the adjusted revenue growth of 27 percent to $150.63 million in the second quarter of FY 23, beating the analysts’ estimates for revenue of $147.46 million.
For the third fiscal quarter ending October 31, 2022, the company expects Subscription revenue to be between $137 million and $139 million, total revenue to be between $155 million and $157 million, Non-GAAP operating (loss) income between $(1 million) and $1 million and Non-GAAP net loss per share between $0.01 and $0.02
For the full fiscal year ending January 31, 2023, the company expects subscription revenue to be between $543 million and $547 million, total revenue to be between $616 million and $620 million, Non-GAAP operating loss to be between $8 million and $12 million and Non-GAAP net loss per share to be between $0.06 and $0.08.
On the other hand, Sprinklr also is announced that Luca Lazzaron, Chief Revenue Officer, has decided to step down from his position, effective October 1, 2022. He will be succeeded by Paul Ohls, who is currently EVP Worldwide Sales and Success, and has been with Sprinklr for four years. To assist in this transition, Mr. Lazzaron will serve as an advisor to the company until December 31, 2022
Additionally, Sprinklr, the unified customer experience management (Unified-CXM) platform for modern enterprises, today introduced Sprinklr Modern Care Lite, an enterprise-grade customer support solution that can be deployed in just minutes. Announced at Customer Contact Week (CCW) 2022, Modern Care Lite is an out-of-the-box version of Sprinklr’s digital-first, unified customer support solution Sprinklr Modern Care.