Sprinklr Stock (CXM): Why The Price Jumped

By Amit Chowdhry ● Dec 12, 2021
  • The stock price of Sprinklr Inc (NYSE: CXM) increased by 11.25% in the previous trading session. This is why it happened.

The stock price of Sprinklr Inc (NYSE: CXM) – the unified customer experience management (Unified-CXM) platform for modern enterprises – increased by 11.25% in the previous trading session. Investors are responding positively to the company reporting the financial results for its third quarter ended October 31, 2021.

Q3 Fiscal 2022 Financial Highlights

— Total revenue for the third quarter was $127.1 million, up from $96.3 million one year ago, an increase of 32% year-over-year. Subscription revenue for the third quarter was $109.9 million, up from $85.0 million one year ago, an increase of 29% year-over-year.

— Third-quarter operating loss was $26.3 million, compared to an operating loss of $15.3 million one year ago. Non-GAAP operating loss was $13.5 million, compared to non-GAAP operating income of $8.1 million one year ago. For the third quarter, GAAP operating margin was (21)% and non-GAAP operating margin was (11)%.

— Third-quarter net loss per share was $0.11, compared to the net loss per share of $0.21 in the third quarter of the fiscal year 2021. Non-GAAP net loss per share for the third quarter was $0.06, compared to non-GAAP net income per share of $0.02 in the third quarter of fiscal year 2021.

— Total cash, cash equivalents, and marketable securities as of October 31, 2021, was $541.5 million.

Financial Outlook

Sprinklr is providing the following guidance for the fourth fiscal quarter ending January 31, 2022:

— Subscription revenue between $113 million and $115 million.

— Total revenue between $129 million and $131 million.

— Non-GAAP operating loss between $21 million and $23 million.

— Non-GAAP net loss per share between $0.08 and $0.09, 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 $423 million and $425 million.

— Total revenue between $486 million and $488 million.

— Non-GAAP operating loss between $48 million and $50 million.

— Non-GAAP net loss per share between $0.30 and $0.31, assuming 195 million weighted average shares outstanding.

KEY QUOTE:

“This is our fourth consecutive quarter of accelerating revenue growth and we couldn’t be more pleased with our team’s relentless focus on our customers. The most iconic enterprise brands continue to validate that the rise of Unified-CXM is inevitable. And only a platform designed with industry-leading AI can solve their most complex problems. Sprinklr is well-positioned to become the strategic partner brands need to unify customer experiences across channels, teams, markets and products for a truly unified experience.” 

— Ragy Thomas, Sprinklr Founder and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.