Sprinklr, Inc. - CXM STOCK NEWS

Sprinklr (NYSE: CXM) has appointed Rory Read as President & CEO and Board Member, effective November 5, 2024. Read succeeds Ragy Thomas, who transitions from Co-CEO to Advisor to the CEO while remaining Founder and Chairman. Trac Pham will step down from Co-CEO and Board roles to an advisory position. Read joins from Vonage, where he served as CEO from 2020-2024, overseeing its $6.2B acquisition by Ericsson. His experience includes leadership roles at Dell, Boomi, AMD, IBM, and Lenovo, notably leading Dell-EMC's integration that created Dell Technologies.

Sprinklr and IDC released new research on 2025 AI priorities based on a survey of 500 contact center and 500 marketing leaders. The study reveals that 73% of contact center executives expect autonomous 24/7 customer service to be AI's most impactful outcome, while 76% of marketing executives believe dynamic content creation will be key. Both sectors identify lack of skilled employees (42% contact center, 44% marketing) as the main barrier to AI implementation. The research emphasizes the need for enterprises to prepare for AI adoption through improved data infrastructure, unified customer insights, and strong AI governance.

Sprinklr (NYSE: CXM) has been recognized as an Exemplary Vendor in the ISG Buyers Guide for Contact Center Advanced. The report, produced by ISG Software Research, ranks Sprinklr as a leader in the Capability category, highlighting its strong performance in customer experience, product experience, and adaptability.

The ISG Buyers Guide evaluates 34 software providers across seven key categories, with Sprinklr excelling in out-of-the-box application integrations. Keith Dawson, Director of Research at ISG, noted that Sprinklr meets the needs of enterprises seeking advanced platforms with routing decisions based on customer experience factors.

Sprinklr's Service offering provides a next-generation customer service solution with a digital-first approach and enterprise-scale voice support. The company's unified front-office solution aims to deliver exceptional customer service at scale, leveraging AI and data analytics to improve both agent and customer experiences.

Sprinklr (NYSE: CXM) has launched a local data hosting solution for its platform in Switzerland on Microsoft Azure. This move supports certain security and governance requirements in the region, demonstrating Sprinklr's commitment and investment to expand its business in the DACH region and Europe. The company serves leading regional brands across various enterprise sectors, including telecommunications, retail, financial services, and travel & hospitality.

Michael Maas, Sprinklr's Senior Vice President of Europe, emphasized that this development will help customers revolutionize their customer experience using Sprinklr's AI-powered platform. The collaboration with Microsoft for Swiss data hosting is a significant milestone in Sprinklr's growth trajectory, supporting the company's commitment to enterprise governance, data security, and compliance. Swiss data hosting will be backed by Sprinklr's global support teams, technical resources, and sub-processors.

Sprinklr (NYSE: CXM) reported its Q2 fiscal 2025 results, showing 11% year-over-year growth in total revenue to $197.2 million. Subscription revenue increased by 9% to $177.9 million. The company generated $21.3 million in net cash from operating activities and $16.5 million in free cash flow. Sprinklr now has 145 customers with $1 million or more in annual recurring revenue, up 21% year-over-year. However, the company recorded a $10.1 million credit loss charge in Q2. Despite market challenges, Sprinklr remains focused on leveraging its AI-powered platform to help global enterprises.

A class action lawsuit has been filed against Sprinklr Inc. (NYSE:CXM) for alleged violations of securities laws. The Schall Law Firm is representing investors who purchased Sprinklr securities between March 29, 2023, and June 5, 2024. The lawsuit claims Sprinklr made false and misleading statements to the market. On June 5, 2024, Sprinklr issued guidance below expectations, citing soft demand, long sales cycles, and high churn in core product sales. The complaint alleges these factors were not previously disclosed, causing investors to suffer damages when the truth was revealed. Shareholders who experienced losses are encouraged to join the lawsuit before October 14, 2024. The case is currently awaiting class certification.

Sprinklr (NYSE: CXM), a unified customer experience management platform, has announced the release date for its second quarter fiscal year 2025 financial results. The results will be disclosed after market close on September 4, 2024. Sprinklr will host a conference call at 5:00 pm ET on the same day to discuss the results. Investors can access the live webcast through the Sprinklr Investor Relations website. For those joining by phone, the dial-in numbers are (877) 459-3955 (domestic) and (201) 689-8588 (international), with the conference ID 13748516. A replay of the call will be available on the company's investor relations website following the event.

Sprinklr (NYSE: CXM) has been named a Major Player in the 2024 IDC MarketScape for Contact Center-as-a-Service Software. The report highlights Sprinklr's advanced data analytics, comprehensive AI approach, and capabilities including AI across all touchpoints, omni-channel support, deep insights, and workflow automation.

IDC recognizes Sprinklr's background in social media management and customer data analysis, noting its strong analytics capabilities and cross-channel data integration. The report suggests considering Sprinklr for organizations looking to make a bold move in contact center offerings, focusing on data-driven solutions rather than traditional functionality.

Sprinklr's Founder and Co-CEO, Ragy Thomas, emphasizes the transformative opportunity AI offers in elevating experiences for both agents and customers. The company's recognition underscores its advantage in social media management and its ability to empower companies with exceptional, unified customer service strategies.

Sprinklr (NYSE: CXM) has released a 2024 Forrester Consulting Total Economic Impact (TEI) Study, demonstrating a 327% ROI over three years for its customers using Sprinklr Social. The study highlights significant financial benefits, including $5.2 million in time savings from social content creation, $1.38 million in paid media savings through employee advocacy programs, and $1.28 million in productivity gains from reporting and analytics. Additionally, Sprinklr Social reduced customer churn, saving $728,000, and drove $516,000 in incremental profit through social commerce. Customers reported enhanced collaboration, AI-assisted conversation monitoring, and improved social selling as key benefits. Sprinklr's comprehensive social media management solution is credited for its extensive channel coverage and enterprise-grade configurability, delivering enhanced customer experiences across social platforms.