Sprinklr Announces Fourth Quarter and Full Year Fiscal 2025 Results
Sprinklr (NYSE: CXM) reported its Q4 and full year fiscal 2025 results, with Q4 total revenue reaching $202.5 million, up 4% year-over-year, and subscription revenue of $182.1 million, up 3%. The company achieved Q4 net cash from operations of $5.4 million and free cash flow of $1.5 million.
Key highlights include:
- 149 customers contributing $1 million+, up 18% year-over-year
- Q4 GAAP operating income of $10.5 million with 5% margin
- Recognition of $87.1 million non-cash tax benefit
For FY2025, total revenue was $796.4 million, up 9% year-over-year. The company provided FY2026 guidance projecting total revenue between $821.5-823.5 million and subscription revenue between $741-743 million.
Sprinklr (NYSE: CXM) ha riportato i risultati del quarto trimestre e dell'intero anno fiscale 2025, con un fatturato totale del quarto trimestre che ha raggiunto $202,5 milioni, in aumento del 4% rispetto all'anno precedente, e un fatturato da abbonamenti di $182,1 milioni, in aumento del 3%. L'azienda ha registrato un flusso di cassa netto dalle operazioni per il quarto trimestre di $5,4 milioni e un flusso di cassa libero di $1,5 milioni.
I punti salienti includono:
- 149 clienti che contribuiscono con oltre $1 milione, in aumento del 18% rispetto all'anno precedente
- Utile operativo GAAP del quarto trimestre di $10,5 milioni con un margine del 5%
- Riconoscimento di un beneficio fiscale non monetario di $87,1 milioni
Per l'anno fiscale 2025, il fatturato totale è stato di $796,4 milioni, in aumento del 9% rispetto all'anno precedente. L'azienda ha fornito una previsione per l'anno fiscale 2026, prevedendo un fatturato totale compreso tra $821,5 e $823,5 milioni e un fatturato da abbonamenti compreso tra $741 e $743 milioni.
Sprinklr (NYSE: CXM) informó sus resultados del cuarto trimestre y del año fiscal 2025, con ingresos totales del cuarto trimestre alcanzando $202.5 millones, un aumento del 4% interanual, y ingresos por suscripción de $182.1 millones, un aumento del 3%. La compañía logró un flujo de efectivo neto de operaciones de $5.4 millones y un flujo de efectivo libre de $1.5 millones en el cuarto trimestre.
Los puntos destacados incluyen:
- 149 clientes que contribuyen con más de $1 millón, un aumento del 18% interanual
- Ingreso operativo GAAP del cuarto trimestre de $10.5 millones con un margen del 5%
- Reconocimiento de un beneficio fiscal no monetario de $87.1 millones
Para el año fiscal 2025, los ingresos totales fueron de $796.4 millones, un aumento del 9% interanual. La compañía proporcionó una guía para el año fiscal 2026 proyectando ingresos totales entre $821.5 y $823.5 millones y ingresos por suscripción entre $741 y $743 millones.
Sprinklr (NYSE: CXM)는 2025 회계연도 4분기 및 연간 실적을 발표했습니다. 4분기 총 수익은 $202.5 백만에 달하며, 전년 대비 4% 증가했으며, 구독 수익은 $182.1 백만으로 3% 증가했습니다. 회사는 4분기 운영에서 순현금 $5.4 백만과 자유 현금 흐름 $1.5 백만을 기록했습니다.
주요 내용은 다음과 같습니다:
- 149명의 고객이 $1 백만 이상 기여하여 전년 대비 18% 증가
- 4분기 GAAP 운영 수익은 $10.5 백만, 마진은 5%
- $87.1 백만의 비현금 세금 혜택 인정
2025 회계연도 동안 총 수익은 $796.4 백만으로 전년 대비 9% 증가했습니다. 회사는 2026 회계연도에 대한 가이드를 제공하며 총 수익을 $821.5-823.5 백만, 구독 수익을 $741-743 백만으로 예상하고 있습니다.
Sprinklr (NYSE: CXM) a annoncé ses résultats du quatrième trimestre et de l'année fiscale 2025, avec des revenus totaux du quatrième trimestre atteignant $202,5 millions, en hausse de 4% par rapport à l'année précédente, et des revenus d'abonnement de $182,1 millions, en hausse de 3%. L'entreprise a enregistré un flux de trésorerie net des opérations pour le quatrième trimestre de $5,4 millions et un flux de trésorerie libre de $1,5 millions.
Les points clés incluent :
- 149 clients contribuant plus de $1 million, en hausse de 18% par rapport à l'année précédente
- Résultat opérationnel GAAP du quatrième trimestre de $10,5 millions avec une marge de 5%
- Reconnaissance d'un avantage fiscal non monétaire de $87,1 millions
Pour l'exercice 2025, les revenus totaux s'élevaient à $796,4 millions, en hausse de 9% par rapport à l'année précédente. L'entreprise a fourni des prévisions pour l'exercice 2026, projetant des revenus totaux entre $821,5 et $823,5 millions et des revenus d'abonnement entre $741 et $743 millions.
Sprinklr (NYSE: CXM) hat die Ergebnisse für das vierte Quartal und das gesamte Geschäftsjahr 2025 bekannt gegeben, wobei die Gesamteinnahmen im vierten Quartal $202,5 Millionen betrugen, was einem Anstieg von 4% im Vergleich zum Vorjahr entspricht, und die Abonnementeinnahmen $182,1 Millionen betrugen, was einem Anstieg von 3% entspricht. Das Unternehmen erzielte im vierten Quartal einen Nettocashflow aus dem operativen Geschäft von $5,4 Millionen und einen freien Cashflow von $1,5 Millionen.
Wichtige Highlights sind:
- 149 Kunden, die über $1 Million beitragen, ein Anstieg von 18% im Vergleich zum Vorjahr
- GAAP-Betriebsgewinn im vierten Quartal von $10,5 Millionen mit einer Marge von 5%
- Anerkennung eines nicht liquiden Steuervorteils von $87,1 Millionen
Für das Geschäftsjahr 2025 betrugen die Gesamteinnahmen $796,4 Millionen, was einem Anstieg von 9% im Vergleich zum Vorjahr entspricht. Das Unternehmen gab eine Prognose für das Geschäftsjahr 2026 ab und erwartet Gesamteinnahmen zwischen $821,5 und $823,5 Millionen sowie Abonnementeinnahmen zwischen $741 und $743 Millionen.
- 18% YoY growth in $1M+ customers to 149
- Q4 GAAP operating income of $10.5M
- $87.1M non-cash tax benefit from valuation allowance release
- Strong cash position of $483.5M
- 9% YoY growth in FY2025 total revenue
- Slowing revenue growth: Q4 revenue up only 4% YoY vs 9% for full year
- Declining operating margins: Q4 GAAP margin dropped to 5% from 10% YoY
- Lower Q4 operating income: $10.5M vs $18.5M previous year
- Reduced non-GAAP operating margin: 13% vs 17% YoY
Insights
Sprinklr's Q4 and FY2025 results reveal a company in transition, with modest growth accompanied by compressing margins. Q4 revenue grew
The bright spot is customer acquisition, with $1 million customers growing
Management's FY2026 guidance projects annual revenue of
CEO Rory Read's characterization of FY2026 as a "transition year" signals a strategic shift as the company optimizes expenses, redefines its go-to-market approach, and rebalances investments. With
Sprinklr's results and strategic commentary reveal a classic case of a growth company pivoting toward efficiency. The mention of "swift actions taken to optimize our expense base" alongside redefining the go-to-market model indicates management recognizes their previous growth-at-all-costs approach needs refinement.
The
The company's explicit goal of marching "towards the Rule of 40" (where growth rate plus profit margin exceeds
Sprinklr appears to be executing a controlled transformation rather than responding to an immediate crisis. Their strong cash position of
-
Q4 Total Revenue of
, up$202.5 million 4% year-over-year -
Q4 Subscription Revenue of
, up$182.1 million 3% year-over-year -
Q4 net cash provided by operating activities of
and free cash flow* of$5.4 million in Q4$1.5 million -
RPO and cRPO up
2% and4% year-over-year, respectively -
149
customers, up$1 million 18% year-over-year -
Recognized a Q4 non-cash, income tax benefit of
related to release of valuation allowance$87.1 million
“We are encouraged by our Q4 results driven by several large customer deals across both Core and Sprinklr Service,” said Rory Read, Sprinklr President and CEO. Read continued, “The transformation of Sprinklr is well underway, with swift actions taken to optimize our expense base, re-define our GTM coverage model, strengthen our product innovation roadmaps, and rebalance our investments and resources to better serve our customers and partners. FY 26 will be a transition year for Sprinklr as we execute our strategy that we believe will position the company to drive durable, efficient growth as we march towards the Rule of 40.”
Fourth Quarter Fiscal 2025 Financial Highlights
-
Revenue: Total revenue for the fourth quarter was
, up from$202.5 million one year ago, an increase of$194.2 million 4% year-over-year. Subscription revenue for the fourth quarter was , up from$182.1 million one year ago, an increase of$177.0 million 3% year-over-year. -
Operating Income and Margin*: Fourth quarter GAAP operating income was
, compared to operating income of$10.5 million one year ago. Non-GAAP operating income for the fourth quarter was$18.5 million , compared to non-GAAP operating income of$25.9 million one year ago. For the fourth quarter, GAAP operating margin was$32.4 million 5% and non-GAAP operating margin was13% compared to GAAP operating margin of10% and non-GAAP operating margin of17% in the fourth quarter of fiscal year 2024. -
Net Income Per Share*: Fourth quarter GAAP net income per share, diluted was
, compared to GAAP net income per share, diluted of$0.37 in the fourth quarter of fiscal year 2024. Non-GAAP net income per share, diluted for the fourth quarter was$0.07 , compared to non-GAAP net income per share, diluted of$0.10 in the fourth quarter of fiscal year 2024.$0.12 -
Cash, Cash Equivalents and Marketable Securities: Total cash, cash equivalents and marketable securities as of January 31, 2025 was
.$483.5 million
Full Year Fiscal 2025 Financial Highlights
-
Revenue: Total revenue for fiscal year 2025 was
, up from$796.4 million one year ago, an increase of$732.4 million 9% year-over-year. Subscription revenue for fiscal year 2025 was , up from$717.9 million one year ago, an increase of$668.5 million 7% year-over-year. -
Operating Income and Margin*: Fiscal year 2025 operating income was
, compared to an operating income of$24.0 million one year ago. Non-GAAP operating income for fiscal year 2025 was$33.9 million , compared to non-GAAP operating income of$84.8 million one year ago. For fiscal year 2025, GAAP operating margin was$92.0 million 3% and non-GAAP operating margin was11% compared to GAAP operating margin of5% and non-GAAP operating margin of13% in fiscal year 2024. -
Net Income Per Share*: Fiscal year 2025 GAAP net income per share, diluted was
, compared to GAAP net income per share, diluted of$0.44 in fiscal year 2024. Non-GAAP net income per share, diluted for fiscal year 2025 was$0.18 , compared to non-GAAP net income per share, diluted of$0.35 in fiscal year 2024.$0.38
* Free cash flow, non-GAAP operating income, non-GAAP operating margin and non-GAAP net income per share are non-GAAP financial measures defined under “Non-GAAP Financial Measures,” and are reconciled to net cash provided by operating activities, operating income, net income or net income per share, as applicable, the closest comparable GAAP measure, at the end of this release.
Financial Outlook
Sprinklr is providing the following guidance for the first fiscal quarter ending April 30, 2025:
-
Subscription revenue between
and$182 million .$183 million -
Total revenue between
and$201.5 million .$202.5 million -
Non-GAAP operating income between
and$31.5 million .$32.5 million -
Non-GAAP net income per share of approximately
, assuming 269 million diluted weighted-average shares outstanding.$0.10
Sprinklr is providing the following guidance for the full fiscal year ending January 31, 2026:
-
Subscription revenue between
and$741 million .$743 million -
Total revenue between
and$821.5 million .$823.5 million -
Non-GAAP operating income between
and$129 million .$131 million -
Non-GAAP net income per share between
and$0.38 , assuming 277 million diluted weighted-average shares outstanding.$0.39
Non-GAAP Financial Measures
In addition to our results determined in accordance with
- Non-GAAP gross profit and non-GAAP gross margin;
- Non-GAAP operating income and non-GAAP operating margin; and
- Non-GAAP net income and non-GAAP net income per share.
We define these non-GAAP financial measures as the respective
In addition, we believe that free cash flow is also a useful non-GAAP financial measure. Free cash flow is defined as net cash provided by operating activities less cash used for purchases of property and equipment and capitalized internal-use software. We believe that free cash flow is a useful indicator of liquidity as it measures our ability to generate cash, or our need to access additional sources of cash, to fund operations and investments. We expect our free cash flow to fluctuate in future periods with changes in our operating expenses and as we continue to invest in our growth. We typically experience higher billings in the fourth quarter compared to other quarters and experience higher collections of accounts receivable in the first half of the year, which results in a decrease in accounts receivable in the first half of the year.
However, non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by
Sprinklr has not reconciled its financial outlook expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their respective most directly comparable
Conference Call Information
Sprinklr will host a conference call today, March 12, 2025, to discuss fourth quarter and full year fiscal 2025 financial results, as well as the first quarter and full year fiscal 2026 outlook, at 8:30 a.m. Eastern Time, 5:30 a.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 13751827. The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 90 days.
About Sprinklr, Inc.
Sprinklr is a leading enterprise software company for all customer-facing functions. With advanced AI, Sprinklr’s unified customer experience management (Unified-CXM) platform helps companies deliver human experiences to every customer, every time, across any modern channel. Headquartered in
Forward-Looking Statements
This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the first quarter and full year fiscal 2026 and the impact of, and our ability to execute, our corporate strategies and business initiatives. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including: our rapid growth may not be indicative of our future growth; our revenue growth rate has fluctuated in prior periods; our ability to achieve or maintain profitability; we derive the substantial majority of our revenue from subscriptions to our Unified-CXM platform; our ability to manage our growth and organizational change; the market for Unified-CXM solutions is rapidly evolving; our ability to attract new customers in a manner that is cost-effective and assures customer success; our ability to attract and retain customers to use our products; our ability to drive customer subscription renewals and expand our sales to existing customers; our ability to effectively develop platform enhancements, introduce new products or keep pace with technological developments; the market in which we participate is new and rapidly evolving and our ability to compete effectively; our business and growth depend in part on the success of our strategic relationships with third parties; our ability to develop and maintain successful relationships with partners who provide access to data that enhances our Unified-CXM platform’s artificial intelligence capabilities; the majority of our customer base consists of large enterprises, and we currently generate a significant portion of our revenue from a relatively small number of enterprises; our investments in research and development; our ability to expand our sales and marketing capabilities; our sales cycle with enterprise and international clients can be long and unpredictable; certain of our results of operations and financial metrics may be difficult to predict; our ability to maintain data privacy and data security; we rely on third-party data centers and cloud computing providers; the sufficiency of our cash and cash equivalents to meet our liquidity needs; our ability to comply with modified or new laws and regulations applying to our business; our ability to successfully enter into new markets and manage our international expansion; the attraction and retention of qualified employees and key personnel; our ability to effectively manage our growth and future expenses and maintain our corporate culture; our ability to maintain, protect, and enhance our intellectual property rights; unstable market and economic conditions, including as a result of fluctuations in inflation and interest rates, bank closures or instability, public health crises and geopolitical actions, such as war and terrorism or the perception that such hostilities may be imminent; and our ability to successfully defend litigation brought against us. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are or will be discussed in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024, filed with the SEC on December 4, 2024, under the caption “Risk Factors,” and in other filings that we make from time to time with the SEC, including our Annual Report on Form 10-K for the year ended January 31, 2025. Forward-looking statements speak only as of the date the statements are made and are based on information available to Sprinklr at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Sprinklr assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.
Key Business Metrics
RPO. RPO, or remaining performance obligations, represents contracted revenues that have not yet been recognized, and include deferred revenue and amounts that will be invoiced and recognized in future periods.
cRPO. cRPO, or current RPO, represents contracted revenues that have not yet been recognized, and include deferred revenue and amounts that will be invoiced and recognized in the next 12 months.
Sprinklr, Inc. |
|||||||
Consolidated Balance Sheets |
|||||||
(in thousands) |
|||||||
|
|||||||
|
January 31,
|
|
January 31,
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
145,270 |
|
|
$ |
164,024 |
|
Marketable securities |
|
338,189 |
|
|
|
498,531 |
|
Accounts receivable, net of allowance of |
|
285,656 |
|
|
|
267,731 |
|
Prepaid expenses and other current assets |
|
84,982 |
|
|
|
70,690 |
|
Total current assets |
|
854,097 |
|
|
|
1,000,976 |
|
Property and equipment, net |
|
31,591 |
|
|
|
32,176 |
|
Goodwill and other intangible assets |
|
49,957 |
|
|
|
50,145 |
|
Operating lease right-of-use assets |
|
44,626 |
|
|
|
31,058 |
|
Other non-current assets |
|
203,928 |
|
|
|
108,755 |
|
Total assets |
$ |
1,184,199 |
|
|
$ |
1,223,110 |
|
|
|
|
|
||||
Liabilities and stockholders’ equity |
|
|
|
||||
Liabilities |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
27,353 |
|
|
$ |
34,691 |
|
Accrued expenses and other current liabilities |
|
79,285 |
|
|
|
93,187 |
|
Operating lease liabilities, current |
|
7,462 |
|
|
|
5,730 |
|
Deferred revenue |
|
403,483 |
|
|
|
374,552 |
|
Total current liabilities |
|
517,583 |
|
|
|
508,160 |
|
Deferred revenue, non-current |
|
6,276 |
|
|
|
506 |
|
Deferred tax liability, non-current |
|
35 |
|
|
|
1,474 |
|
Operating lease liabilities, non-current |
|
41,243 |
|
|
|
27,562 |
|
Other liabilities, non-current |
|
6,999 |
|
|
|
5,704 |
|
Total liabilities |
|
572,136 |
|
|
|
543,406 |
|
Commitments and contingencies |
|
|
|
||||
Stockholders’ equity |
|
|
|
||||
Class A common stock |
|
4 |
|
|
|
4 |
|
Class B common Stock |
|
4 |
|
|
|
4 |
|
Treasury stock |
|
(23,831 |
) |
|
|
(23,831 |
) |
Additional paid-in capital |
|
1,268,920 |
|
|
|
1,182,150 |
|
Accumulated other comprehensive loss |
|
(6,969 |
) |
|
|
(3,836 |
) |
Accumulated deficit |
|
(626,065 |
) |
|
|
(474,787 |
) |
Total stockholders’ equity |
|
612,063 |
|
|
|
679,704 |
|
Total liabilities and stockholders’ equity |
$ |
1,184,199 |
|
|
$ |
1,223,110 |
|
Sprinklr, Inc. |
|||||||||||||
Consolidated Statements of Operations |
|||||||||||||
(in thousands, except per share data) |
|||||||||||||
|
|||||||||||||
|
(unaudited) |
|
|
|
|
||||||||
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||
Revenue: |
|
|
|
|
|
|
|
||||||
Subscription |
$ |
182,067 |
|
|
$ |
176,960 |
|
$ |
717,923 |
|
|
$ |
668,541 |
Professional services |
|
20,472 |
|
|
|
17,247 |
|
|
78,471 |
|
|
|
63,819 |
Total revenue |
|
202,539 |
|
|
|
194,207 |
|
|
796,394 |
|
|
|
732,360 |
Costs of revenue: |
|
|
|
|
|
|
|
||||||
Costs of subscription (1) |
|
38,131 |
|
|
|
30,896 |
|
|
140,730 |
|
|
|
116,032 |
Costs of professional services (1) |
|
20,685 |
|
|
|
16,653 |
|
|
81,348 |
|
|
|
63,369 |
Total costs of revenue |
|
58,816 |
|
|
|
47,549 |
|
|
222,078 |
|
|
|
179,401 |
Gross profit |
|
143,723 |
|
|
|
146,658 |
|
|
574,316 |
|
|
|
552,959 |
Operating expenses: |
|
|
|
|
|
|
|
||||||
Research and development (1) |
|
22,558 |
|
|
|
23,062 |
|
|
91,999 |
|
|
|
91,292 |
Sales and marketing (1) |
|
76,101 |
|
|
|
77,083 |
|
|
321,658 |
|
|
|
321,849 |
General and administrative (1) |
|
34,605 |
|
|
|
28,053 |
|
|
136,689 |
|
|
|
105,873 |
Total operating expenses |
|
133,264 |
|
|
|
128,198 |
|
|
550,346 |
|
|
|
519,014 |
Operating income |
|
10,459 |
|
|
|
18,460 |
|
|
23,970 |
|
|
|
33,945 |
Other income, net |
|
4,913 |
|
|
|
8,253 |
|
|
24,322 |
|
|
|
26,577 |
Income before provision for income taxes |
|
15,372 |
|
|
|
26,713 |
|
|
48,292 |
|
|
|
60,522 |
(Benefit) provision for income taxes |
|
(83,307 |
) |
|
|
5,570 |
|
|
(73,317 |
) |
|
|
9,119 |
Net income |
$ |
98,679 |
|
|
$ |
21,143 |
|
$ |
121,609 |
|
|
$ |
51,403 |
Net income per share, basic |
$ |
0.39 |
|
|
$ |
0.08 |
|
$ |
0.47 |
|
|
$ |
0.19 |
Weighted average shares used in computing net income per share, basic |
|
254,911 |
|
|
|
274,062 |
|
|
260,241 |
|
|
|
269,974 |
Net income per share, diluted |
$ |
0.37 |
|
|
$ |
0.07 |
|
$ |
0.44 |
|
|
$ |
0.18 |
Weighted average shares used in computing net income per share, diluted |
|
266,910 |
|
|
|
288,517 |
|
|
274,773 |
|
|
|
287,093 |
(1) Includes stock-based compensation expense, net of amounts capitalized, as follows: |
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||
(in thousands) |
2025 |
|
2024 |
|
2025 |
|
2024 |
||||
Costs of subscription |
$ |
378 |
|
$ |
272 |
|
$ |
1,323 |
|
$ |
1,130 |
Costs of professional services |
|
306 |
|
|
311 |
|
|
1,387 |
|
|
1,450 |
Research and development |
|
3,100 |
|
|
2,474 |
|
|
11,404 |
|
|
11,566 |
Sales and marketing |
|
4,834 |
|
|
6,079 |
|
|
21,331 |
|
|
24,477 |
General and administrative |
|
6,722 |
|
|
4,516 |
|
|
24,072 |
|
|
17,134 |
Stock-based compensation expense, net of amounts capitalized |
$ |
15,340 |
|
$ |
13,652 |
|
$ |
59,517 |
|
$
|
55,757
|
Sprinklr, Inc. |
|||||||
Consolidated Statements of Cash Flows |
|||||||
(in thousands) |
|||||||
|
|||||||
|
Year ended January 31, |
||||||
|
2025 |
|
2024 |
||||
Cash flow from operating activities: |
|
|
|
||||
Net income |
$ |
121,609 |
|
|
$ |
51,403 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization expense |
|
18,679 |
|
|
|
15,466 |
|
Provision for credit losses |
|
11,560 |
|
|
|
5,906 |
|
Stock-based compensation expense, net of amounts capitalized |
|
59,517 |
|
|
|
55,757 |
|
Non-cash lease expense |
|
8,188 |
|
|
|
8,352 |
|
Deferred income taxes |
|
(88,069 |
) |
|
|
(2,668 |
) |
Net amortization/accretion on marketable securities |
|
(12,544 |
) |
|
|
(17,009 |
) |
Other non-cash items, net |
|
207 |
|
|
|
107 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
(30,010 |
) |
|
|
(68,709 |
) |
Prepaid expenses and other current assets |
|
(15,503 |
) |
|
|
8,675 |
|
Other non-current assets |
|
(9,560 |
) |
|
|
(25,577 |
) |
Accounts payable |
|
(7,048 |
) |
|
|
3,325 |
|
Operating lease liabilities |
|
(5,570 |
) |
|
|
(8,019 |
) |
Accrued expenses and other current liabilities |
|
(12,487 |
) |
|
|
(6,515 |
) |
Litigation settlement |
|
— |
|
|
|
— |
|
Deferred revenue |
|
37,473 |
|
|
|
49,813 |
|
Other liabilities |
|
1,148 |
|
|
|
1,158 |
|
Net cash provided by operating activities |
|
77,590 |
|
|
|
71,465 |
|
Cash flow from investing activities: |
|
|
|
||||
Purchases of marketable securities |
|
(396,154 |
) |
|
|
(604,648 |
) |
Proceeds from sales and maturities of marketable securities |
|
568,713 |
|
|
|
514,403 |
|
Purchases of property and equipment |
|
(5,802 |
) |
|
|
(8,548 |
) |
Capitalized internal-use software |
|
(12,631 |
) |
|
|
(11,777 |
) |
Net cash provided by (used in) investing activities |
|
154,126 |
|
|
|
(110,570 |
) |
Cash flow from financing activities: |
|
|
|
||||
Proceeds from issuance of common stock upon exercise of stock options |
|
19,908 |
|
|
|
43,333 |
|
Proceeds from issuance of common stock upon ESPP purchase |
|
5,807 |
|
|
|
7,437 |
|
Payments for repurchase of Class A common shares |
|
(273,873 |
) |
|
|
(26,684 |
) |
Net cash (used in) provided by financing activities |
|
(248,158 |
) |
|
|
24,086 |
|
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash |
|
(2,454 |
) |
|
|
(939 |
) |
Net change in cash, cash equivalents, and restricted cash |
|
(18,896 |
) |
|
|
(15,958 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
172,429 |
|
|
|
188,387 |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
153,533 |
$ |
172,429 |
Sprinklr, Inc. |
|||||||||||||||
Reconciliation of Non-GAAP Measures |
|||||||||||||||
(in thousands) |
|||||||||||||||
(unaudited) |
|||||||||||||||
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended January 31, |
|
Year Ended January 31, |
||||||||||||
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||||
Non-GAAP gross profit: |
|
|
|
|
|
|
|
||||||||
GAAP gross profit |
$ |
143,723 |
|
|
$ |
146,658 |
|
|
$ |
574,316 |
|
|
$ |
552,959 |
|
Stock-based compensation expense-related charges (1) |
|
686 |
|
|
|
590 |
|
|
|
2,750 |
|
|
|
2,625 |
|
Non-GAAP gross profit |
$ |
144,409 |
|
|
$ |
147,248 |
|
|
$ |
577,066 |
|
|
$ |
555,584 |
|
Gross margin |
|
71 |
% |
|
|
76 |
% |
|
|
72 |
% |
|
|
76 |
% |
Non-GAAP gross margin |
|
71 |
% |
|
|
76 |
% |
|
|
72 |
% |
|
|
76 |
% |
|
|
|
|
|
|
|
|
||||||||
Non-GAAP operating income: |
|
|
|
|
|
|
|
||||||||
GAAP operating income |
$ |
10,459 |
|
|
$ |
18,460 |
|
|
$ |
23,970 |
|
|
$ |
33,945 |
|
Stock-based compensation expense-related charges (2) |
|
15,420 |
|
|
|
13,859 |
|
|
|
60,663 |
|
|
|
57,902 |
|
Amortization of acquired intangible assets |
|
— |
|
|
|
50 |
|
|
|
118 |
|
|
|
200 |
|
Non-GAAP operating income |
$ |
25,879 |
|
|
$ |
32,368 |
|
|
$ |
84,751 |
|
|
$ |
92,046 |
|
Operating margin |
|
5 |
% |
|
|
10 |
% |
|
|
3 |
% |
|
|
5 |
% |
Non-GAAP operating margin |
|
13 |
% |
|
|
17 |
% |
|
|
11 |
% |
|
|
13 |
% |
|
|
|
|
|
|
|
|
||||||||
Free cash flow: |
|
|
|
|
|
|
|
||||||||
Net cash provided by operating activities |
$ |
5,365 |
|
|
$ |
17,303 |
|
|
$ |
77,590 |
|
|
$ |
71,465 |
|
Purchase of property and equipment |
|
(802 |
) |
|
|
(2,054 |
) |
|
|
(5,802 |
) |
|
|
(8,548 |
) |
Capitalized internal-use software |
|
(3,022 |
) |
|
|
(2,986 |
) |
|
|
(12,631 |
) |
|
|
(11,777 |
) |
Free cash flow |
$ |
1,541 |
|
|
$ |
12,263 |
|
|
$ |
59,157 |
|
|
$ |
51,140 |
|
(1) Employer payroll tax related to stock-based compensation for the periods ended January 31, 2025, and 2024 was immaterial as to the impact to gross profit. |
(2) Includes |
|
Three Months Ended January 31, |
|||||||||||||||||||
|
2025 |
|
2024 |
|||||||||||||||||
|
(in thousands) |
|
Per Share-Basic |
|
Per Share-Diluted |
|
(in thousands) |
|
Per Share-Basic |
|
Per Share-Diluted |
|||||||||
Non-GAAP Net Income reconciliation to Net Income |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net income |
$ |
98,679 |
|
|
$ |
0.39 |
|
|
$ |
0.37 |
|
|
$ |
21,143 |
|
$ |
0.08 |
|
$ |
0.07 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Stock-based compensation expense-related charges |
|
15,420 |
|
|
|
0.06 |
|
|
|
0.06 |
|
|
|
13,859 |
|
|
0.05 |
|
|
0.05 |
Amortization of acquired intangible assets |
|
— |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
50 |
|
|
0.00 |
|
|
0.00 |
Release of |
|
(87,058 |
) |
|
|
(0.34 |
) |
|
|
(0.33 |
) |
|
|
— |
|
|
0.00 |
|
|
0.00 |
Total additions, net |
|
(71,638 |
) |
|
|
(0.28 |
) |
|
|
(0.27 |
) |
|
|
13,909 |
|
|
0.05 |
|
|
0.05 |
Non-GAAP Net Income |
$ |
27,041 |
|
|
$ |
0.11 |
|
|
$ |
0.10 |
|
|
$ |
35,052 |
|
$ |
0.13 |
|
$ |
0.12 |
Weighted-average shares outstanding |
|
|
|
254,911 |
|
|
|
266,910 |
|
|
|
|
|
274,062 |
|
|
288,517 |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Year Ended January 31, |
|||||||||||||||||||
|
2025 |
|
2024 |
|||||||||||||||||
|
(in thousands) |
|
Per Share-Basic |
|
Per Share-Diluted |
|
(in thousands) |
|
Per Share-Basic |
|
Per Share-Diluted |
|||||||||
Non-GAAP Net Income reconciliation to Net Income |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Net income |
$ |
121,609 |
|
|
$ |
0.47 |
|
|
$ |
0.44 |
|
|
$ |
51,403 |
|
$ |
0.19 |
|
$ |
0.18 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Stock-based compensation expense-related charges |
|
60,663 |
|
|
|
0.23 |
|
|
|
0.22 |
|
|
|
57,902 |
|
|
0.22 |
|
|
0.20 |
Amortization of acquired intangible assets |
|
118 |
|
|
|
0.00 |
|
|
|
0.00 |
|
|
|
200 |
|
|
0.00 |
|
|
0.00 |
Release of |
|
(87,058 |
) |
|
|
(0.33 |
) |
|
|
(0.31 |
) |
|
|
— |
|
|
0.00 |
|
|
0.00 |
Total additions, net |
|
(26,277 |
) |
|
|
(0.10 |
) |
|
|
(0.09 |
) |
|
|
58,102 |
|
|
0.22 |
|
|
0.20 |
Non-GAAP Net Income |
$ |
95,332 |
|
|
$ |
0.37 |
|
|
$ |
0.35 |
|
|
$ |
109,505 |
|
$ |
0.41 |
|
$ |
0.38 |
Weighted-average shares outstanding |
|
|
|
260,241 |
|
|
|
274,773 |
|
|
|
|
|
269,974 |
|
|
287,093 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250312197949/en/
Investor Relations:
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Media & Press:
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Source: Sprinklr