Sprinklr Announces Second Quarter Fiscal 2022 Results

Sprinklr, the unified customer experience management (Unified-CXM) platform for modern enterprises, today reported financial results for its second quarter ended July 31, 2021.

“Our third consecutive quarter of accelerating revenue growth, and the continued trust that the world’s largest and most iconic global enterprises place in Sprinklr, is a testament to the growing need for a Unified-CXM platform. Brands choose our leading AI and our unique ability to connect all customer-facing functions to engage customers on the channels they prefer for a truly unified customer experience,” said Ragy Thomas, Sprinklr Founder and CEO.

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Second Quarter Fiscal 2022 Financial Highlights

  • Revenue: Total revenue for the second quarter was $118.7 million, up from $93.5 million one year ago, an increase of 27% year-over-year. Subscription revenue for the second quarter was $103.3 million, up from $82.8 million one year ago, an increase of 25% year-over-year.
  • Operating (Loss) Income and Margin: Second quarter operating loss was $29.3 million, compared to operating income of $4.9 million one year ago. Non-GAAP operating loss was $11.4 million, compared to non-GAAP operating income of $10.9 million one year ago. For the second quarter, GAAP operating margin was (25)% and non-GAAP operating margin was (10)%.
  • Net (Loss) Income Per Share: Second quarter net loss per share was $0.20, compared to net income per share of $0.02 in the second quarter of fiscal year 2021. Non-GAAP net loss per share for the second quarter was $0.09, compared to non-GAAP net income per share of $0.05 in the second quarter of fiscal year 2021.
  • Cash, Cash Equivalents and Marketable Securities: Completed its initial public offering and began trading on the NYSE (“CXM”) on June 23, 2021. Net proceeds from the IPO were approximately $276.0 million, after deducting underwriters’ discounts and commissions and offering expenses. Total cash, cash equivalents and marketable securities as of July 31, 2021 was $548.8 million.

Financial Outlook

Sprinklr is providing the following guidance for the third fiscal quarter ending October 31, 2021:

  • Subscription revenue between $104 million and $106 million.
  • Total revenue between $117 million and $119 million.
  • Non-GAAP operating loss between $24 million and $26 million.
  • Non-GAAP net loss per share between $0.09 and $0.10, assuming 260 million weighted average shares outstanding.

Sprinklr is providing the following guidance for the full fiscal year ending January 31, 2022:

  • Subscription revenue between $413 million and $418 million.
  • Total revenue between $470 million and $475 million.
  • Non-GAAP operating loss between $62 million and $66 million.
  • Non-GAAP net loss per share between $0.36 and $0.38, assuming 197 million weighted average shares outstanding.

Conference Call Information
Sprinklr will host a conference call today, September 9, 2021, to discuss second quarter fiscal 2022 financial results, as well as the third quarter and full year fiscal 2022 outlook, at 5:00 p.m. Eastern Time2:00 p.m. Pacific Time. Investors are invited to join the webcast by visiting: https://investors.sprinklr.com/. To access the call by phone, dial 877-459-3955 (domestic) or 201-689-8588 (international). The conference ID number is 13721772.  The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 90 days.

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