Sprinklr beats revenue estimates but misses on earnings, stock dips 3%

NEW YORK - Sprinklr Inc. (NYSE:CXM) reported second-quarter results that topped revenue expectations but fell short on earnings, while providing mixed guidance for the current quarter and full year. Shares were down 3% following the report Wednesday.

The customer experience management platform posted adjusted earnings per share of $0.06, missing analyst estimates of $0.07. Revenue came in at $197.2 million, exceeding the consensus forecast of $194.51 million and representing 11% year-over-year growth.

"In the second quarter, we continued to expand our customer base with our industry-recognized AI-powered platform and delivered our 7th consecutive quarter of free cash flow," said Ragy Thomas, Sprinklr Founder and Co-CEO.

For the third quarter, Sprinklr expects revenue between $196 million and $197 million, above analyst projections of $193.8 million. However, its EPS guidance of approximately $0.08 falls short of the $0.12 consensus estimate.

The company raised its full-year revenue outlook to a range of $785 million to $787 million, up from its previous guidance and ahead of Wall Street's $780.4 million forecast. But Sprinklr lowered its full-year EPS guidance to $0.32-$0.33, below the $0.41 analyst estimate.

Sprinklr's subscription revenue grew 9% year-over-year to $177.9 million in Q2. The company ended the quarter with 145 customers contributing over $1 million in annual revenue, up 21% from the prior year.

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Source: Investing.com