Sprinklr Inc (NYSE:CXM) stock started 15% higher in Thursday’s early deals buoyed by its fourth quarter and full year financial results.
In New York, Sprinklr stock rose US$1.72 to trade at US$12.60.
The ‘unified customer experience management’ specialist reported a 22% year-on-year increase in fourth quarter revenue, reaching US$165.3 million.
Fourth quarter subscription revenue also saw significant growth, up 26% to US$148.3 million.
Operational improvements and continued growth led to net cash provided by operating activities of US$22.1 million and a free cash flow of US$16.3 million in the quarter.
Ragy Thomas, Sprinklr Founder and CEO, was satisfied with the company's performance and result, commenting: "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."
The group’s growth and innovation efforts included the launch of self-serve Sprinklr Social, which aimed to position the company as a ‘disruptor’ among contact center operators, driven by an AI-powered service offering.
For the full fiscal year 2023, Sprinklr reported total revenue of US$618.2 million, a 26% year-on-year increase. Subscription revenue also grew by 28% to US$548.6 million.
Sprinklr's financial outlook for the first quarter, ending April 30, 2023, included subscription revenue of US$153 million to US$155 million, total revenue of US$168 million to US$170 million, and non-GAAP operating income between US$3 million and US$5 million.
For the full fiscal year (to end January 31, 2024) the company said it expects subscription revenue of US$644 million to US$648 million, total revenue of US$710 million to US$714 million, and non-GAAP operating income of US$41 million to US$45 million.