CXM - Sprinklr soars on big guidance lift as subscription revenue rise 29% in Q2

• Sprinklr ( NYSE: CXM ) stock gains on Friday after the software company posted beat on both lines for its second quarter earnings alongside raising full-year forecast.
• Revenue of $150.6M (+26.9% Y/Y) beats by $3.15M. Subscription revenue was up 29% Y/Y to $133.1M.
• Non-GAAP operating loss was $4.9M, compared to non-GAAP operating loss of $10.5M a year ago. Non-GAAP operating margin was (3%).
• RPO and cRPO, which includes deferred revenue to be recognized in future periods, up 33% and 29% year-over-year, respectively
• Non-GAAP EPS of -$0.03 beat consensus by $0.03.
• The company ended the quarter with $540.9M in cash, cash equivalents and marketable securities.
• "We are very pleased with Sprinklr’s performance in the second quarter, as we beat expectations across all key metrics.....Our focus on operational excellence and increasing efficiency is having a great impact on our business. As a result, we are significantly improving our business outlook for fiscal 2023," said Ragy Thomas, Sprinklr Founder and CEO.
• Issued Q3 2023 Guidance: Subscription revenue between $137M and $139M.
• Total revenue between $155M and $157M vs. consensus of $156.26M
• Non-GAAP operating (loss) income between $(1M) and $1M
• Non-GAAP net loss per share between $0.01 and $0.02 vs. consensus of -$0.05
• FY 2023 Guidance: Subscription revenue between $543M and $547M, up from prior guidance of $540.5M - $546.5M.
• Total revenue between $616M and $620M, up from prior guidance of $612-$618M, vs. consensus of $614.10M.
• Non-GAAP operating loss between $8M and $12M, reflecting big improvement from prior Non-GAAP operating loss guidance of $37-41M.
• Non-GAAP net loss per share between $0.06 and $0.08, vs. prior guidance of -$0.18 to -$0.20, vs. consensus of -$0.19.
• Sprinklr ( CXM ) also announced that Luca Lazzaron, Chief Revenue Officer, has decided to step down from his position, effective October 1, 2022. He will be succeeded by Paul Ohls, who is currently EVP Worldwide Sales and Success, and has been with Sprinklr for four years.
• CXM shares are up 6% on Friday.

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