- Sprinklr, Inc CXM reported third-quarter revenue growth of 24% year-on-year to $157.3 million, marginally beating the consensus of $156.1 million.
- Non-GAAP EPS of $0.02 beat the consensus loss of $(0.01).
- Non-GAAP gross margin expanded 400 bps to 75%. Non-GAAP operating income was $6.9 million versus a loss of $(12) million a year ago.
- Sprinklr held $544.1 million in cash and equivalents as of October 31.
- Effective December 2, Sprinklr appointed Kevin Haverty to its board. Haverty is currently the Senior Advisor to the CEO at ServiceNow, Inc. NOW.
- Matthew Jacobson, a Partner at ICONIQ Capital, stepped down from the Sprinklr Board of Directors effective December 1.
- Outlook: Sprinklr sees Q4 revenue of $162.3 million - $163.3 million (vs. consensus $166.1 million) and Non-GAAP EPS of $0.01 - $0.02 (vs. consensus $0.01).
- Sprinklr sees FY23 revenue of $615.2 million - $616.2 million, down from $616 million - $620 million (vs. consensus $618.1 million).
- Sprinklr improved Non-GAAP EPS loss outlook to $(0.04) - $(0.05) from prior $(0.06) - $(0.08) (vs. consensus loss of $(0.07)).
- Oppenheimer analyst Brian Schwartz maintained an Outperform and lowered the price target from $16 to $10.
- Stifel analyst Parker Lane downgraded from Buy to Hold and reduced the price target from $12 to $8.
- JMP Securities analyst Patrick Walravens reiterated a Market Outperform and cut the price target from $22 to $16.
- Wells Fargo analyst Michael Turrin reaffirmed an Equal-Weight and slashed the price target from $12 to $9.
- Price Action: CXM shares traded lower by 4.30% at $7.89 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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