Sprinklr, Inc. (NYSE:CXM) Q3 2024 Earnings Call Transcript December 6, 2023 5:00 PM ET
Company Participants
Eric Scro - SVP, Finance
Ragy Thomas - Founder and CEO
Manish Sarin - CFO
Conference Call Participants
Arjun Bhatia - William Blair
Noah Herman - JPMorgan
Matt Saltzman - Morgan Stanley
Matt VanVliet - BTIG
Brett Knoblauch - Cantor Fitzgerald
Michael Berg - Wells Fargo
Michael Vidovic - KeyBanc Capital Markets
Ari Friedman - Oppenheimer
Austin Cole - JMP Securities
Operator
Greetings, and welcome to Sprinklr’s Third Quarter Fiscal Year 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Eric Scro, SVP, Finance. Thank you, Eric. You may begin.
Eric Scro
Thank you, Alicia, and welcome, everyone, to Sprinklr’s third quarter fiscal year 2024 results financial call. Joining us today are Ragy Thomas, Sprinklr’s Founder and CEO, and Manish Sarin, Chief Financial Officer. We issued our earnings release a short time ago, filed the related Form 8-K with the SEC, and we've made them available on the Investor Relations section of our website, along with the supplementary investor presentation.
Please note that on today's call, management will refer to certain non-GAAP financial measures. While the company believes these non-GAAP financial measures provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for financial information presented in accordance with GAAP. You are directed to our press release and supplementary investor presentation for a reconciliation of such measures to GAAP.
In addition, 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 the Fourth fiscal quarter and full fiscal year 2024 and our initial framework for fiscal year 2025, and our actual results might differ materially. Any forward-looking statements that we make on this call are based on our beliefs and assumptions as of today, and we disclaim any obligation to update them. For more details on the risks associated with these forward-looking statements, please refer to our filings with the SEC also posted on our website.
With that, let me turn it over to Ragy.
Ragy Thomas
Thank you, Eric, and hello, everyone. Thank you for joining us today. We're pleased that Q3 was another strong quarter that exceeded guidance across all key metrics. Q3 total revenue grew 18% year-over-year to $186.3 million, and subscription revenue grew 22% year-over-year to $170.5 million. With our continued focus on operational efficiency, we generated $27.4 million in non-GAAP operating income, which resulted in a record 15% non-GAAP operating margin for the quarter.