Overview

* Sprinklr ( CXM ) Q2 rev grows 8% yr/yr, beating analyst expectations

* Subscription revenue for Q2 rises 6% yr/yr

* Scott Millard appointed Chief Revenue Officer, Manish Sarin to depart as CFO

Outlook

* Sprinklr ( CXM ) sees Q3 subscription revenue between $186 mln and $187 mln

* Company expects Q3 total revenue between $209 mln and $210 mln

* Sprinklr ( CXM ) projects FY subscription revenue between $746 mln and $748 mln

* Company anticipates FY total revenue between $837 mln and $839 mln

Result Drivers

* CUSTOMER ENGAGEMENTS - CEO Rory Read highlights improved quality of customer engagements as a key driver for Q2 results

* TRANSFORMATION PROGRESS - Sprinklr ( CXM ) cites ongoing transformation efforts as a contributing factor to revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $212.04 $205.40

Revenue mln mln (9

Analysts

)

Q2 EPS $0.05

Q2 Net $12.62

Income mln

Q2 Gross $144.60

Profit mln

Q2 $128.33

Operatin mln

g

Expenses

Q2 $16.27

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy."

* Wall Street's median 12-month price target for Sprinklr Inc ( CXM ) is $10.00, about 14% above its September 2 closing price of $8.60

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)