CXM - Why Software Company Sprinklr Shares Are Diving Today | Benzinga
Sprinklr, Inc. (NYSE:CXM) shares are trading lower after the company reported first-quarter FY25 results yesterday.
Sales of $196.0 million beat the consensus of $194.4 million, and adjusted EPS of $0.09 beat the consensus of $0.07.
Subscription revenue increased 12% Y/Y to $177.4 million. RPO and cRPO were up 30% and 19% Y/Y, respectively, in the quarter.
Adjusted operating income rose to $20.4 million from $11.0 million a year ago, with a margin of 10% versus 6% in the prior-year quarter.
As of April-end, cash, cash equivalents, and marketable securities stood at $610.1 million.
The company also announced Trac Pham’s appointment as co-CEO, effective immediately. Pham will continue to serve on Sprinklr’s board and is standing for reelection at the 2024 annual meeting of stockholders.
Share Buyback: In June 2024, the company authorized an incremental $100 million to the 2024 Share Repurchase Program.
“Despite operating ...