Q1 2025 Sprinklr Inc Earnings Call Transcript
Key Points
- Q1 total revenue grew 13% year over year to $196 million, with subscription revenue increasing by 12% to $177.4 million.
- Generated $20.4 million in non-GAAP operating income, resulting in a 10% non-GAAP operating margin for the quarter.
- Positive developments in product innovation, including the launch of Sprinklr digital twin, Sprinklr surveys, and Sprinklr voice connect.
- Strong performance in industry analyst reports, being named a strong performer in conversational AI for customer service by Forrester and a leader in the Magic Quadrant for content marketing platforms by Gartner.
- New partnerships and customer expansions, including agreements with Alibaba, Audi, Lululemon, Vodafone, and a significant partnership with Reddit.
- Lower net bookings and increased customer churn due to longer sales cycles and heightened budget scrutiny.
- Lowered revenue guidance for FY25 due to a challenging macro environment and operational changes.
- Higher churn in core product suites driven by reduced marketing spend, elimination of programs, and seat reductions.
- Restructured global workforce by approximately 3% in May, incurring $4 million in related expenses.
- Withdrawal of FY27 financial targets due to the current operating environment and performance challenges.
Greetings, and welcome to the Sprinklr Q1 full-year 2025 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Eric Scro, VP, Finance. Thank you, Eric. You may begin.
Thank you, Alicia, and welcome, everyone, to Sprinklr's first quarter fiscal year 2025 financial results call. Joining us today are Ragy Thomas, Sprinklr's Founder and Co-Chief Executive Officer; Trac Pham, Co-Chief Executive Officer; and Manish Sarin, Chief Financial Officer. We issued our earnings release a short time ago, filed a Form 8-K with the SEC, and we've made available on the Investor Relations section of our website, along with the supplementary investor presentation.
During today's call, we'll be making some forward-looking statements about the business and about the financial results of Sprinklr that involve many assumptions, risks, and uncertainties, including our guidance for this second fiscal quarter and full fiscal year of
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