Sprinklr Inc CXM shares are trading higher in Wednesday's after-hours session after the enterprise software company reported strong fourth-quarter results.
What Happened: Sprinklr said fourth-quarter revenue increased 22% year-over-year to $165.33 million, which beat average analyst estimates of $162.77 million, according to Benzinga Pro. The company reported quarterly earnings of 6 cents per share, which beat estimates of 2 cents per share.
Free cash flow totaled $16.3 million in the fourth quarter. The company ended the quarter with $578.6 million in cash, equivalents, and marketable securities.
"Our Q4 non-GAAP profitability, and free cash flow are a result of efficient execution, and creating business value for customers with our Unified-CXM platform. We are well positioned to be a disruptor in the contact center space with our AI powered Sprinklr Service offering," said Ragy Thomas, founder and CEO of Sprinklr.
Sprinklr expects first-quarter revenue to be between $168 million and $170 million versus estimates of $168.87 million. The company expects first-quarter adjusted earnings to be flat to 1 cent per share versus estimates of 2 cents per share.
CXM Price Action: CXM shares were up 14.8% after hours at $12.50 at the time of writing, adding to 2.3% gains from Wednesday's regular trading session, according to Benzinga Pro.
Photo: StartupStockPhotos from Pixabay.
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