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Sprinklr Inc. Class A (CXM-0.29%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports total revenue of $200.7 million for the quarter, an increase from $186.3 million in the same quarter last year. Subscription revenue rose to $180.6 million from $170.5 million, while professional services revenue increased to $20.1 million from $15.9 million.
The cost of subscription revenue was $35.7 million, up from $29.9 million in the previous year, while the cost of professional services revenue increased to $22.1 million from $16.6 million. Total costs of revenue were $57.8 million, resulting in a gross profit of $142.9 million.
Operating expenses for the quarter included $23.3 million in research and development, $77.6 million in sales and marketing, and $34.1 million in general and administrative expenses. Total operating expenses amounted to $135.0 million.
The company reported an operating income of $7.9 million, compared to $13.2 million in the previous year. Other income, net, was $5.5 million, leading to an income before taxes of $13.4 million.
Sprinklr recorded a provision for income taxes of $2.9 million, resulting in a net income of $10.5 million for the quarter, down from $16.0 million in the previous year.
The filing highlights that Sprinklr's cash and cash equivalents stood at $93.2 million as of October 31, 2024, with marketable securities valued at $383.4 million.
The company also reported a restructuring plan implemented in May 2024, which involved a reduction of its global workforce by approximately 3% to align with business needs.
Sprinklr's board of directors appointed Rory Read as President and CEO, effective November 5, 2024, succeeding Ragy Thomas and Trac Pham.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sprinklr Inc. Class A quarterly 10-Q report dated December 4, 2024. To report an error, please email earnings@qz.com.