and Ragy good you, afternoon Thank everyone.
from you As the another all across exceeding we across strong heard metrics. expectations Board, delivered key Ragy, financial quarter
generate profitability. quarter our to clear third growth Our path strong to demonstrate a with ability results
edge, product tailwinds the value We our namely support customers. will for are our CXM long-term resonating future, benefiting the we our digital foreseeable from with how is our believe the of unified business platform and transforming customers breadth offering, of that their multiple
worsened However, existing we the for quarter that of with trends general the in new short-term. tightening current through budget customers. of the a the saw to macroeconomic third Many the in we not are quarter and macro immune second both environment
a the in quarter, slowdown become during increasingly EMEA our the with most more notably business. operating saw addition, we In environment challenging, pronounced third
business high revenue was This to for above financial driven total outperformance our grew and subscription revenue guidance million, was as recent not of the taking the the year-over-year quarter came guidance margin quarter end services have third in up results, our the new our driven XX% $XXX.X services lower closed is from trend. year-over-year, of focus more Subscription revenue revenue by by the the earlier than This margins expected. driven for at about business in business. by on Turning was $XXX.X range. above our slightly range. XX% $XX.X Services also million, which we been thoughtful quarterly for high million, quarter, marginally of on a down end
forward. continue professional will services manage We professional moving impact actively level may margin, to the our which revenue of services absolute our
from consistent for XXX%, upselling net drive third quarter in renewal revenue-based expansion to subscription dollar expand as existing new the we in business we demonstrate them This customers our metric mature. strategic continued significant QX this continues be had was successful have as existing customers with I how to our how is to Sprinklr we time Our mid alluded at rate as results. enterprise they accounts. and platform with the to large earlier
how Our front Sprinklr office environment. high customers' further is in a gross provide important our in resilient QX renewal on the enterprise This suite also in this our software installed the a testament that with was to remains believe renewal customer Sprinklr's to workflows. daily is evidence recessionary with software par position should in We even expansion potentially companies. rate again base, rate, coupled leading
increase million $X XX XX% the or in of had third revenue months, the customers the which preceding more subscription contributing we a end As of year-over-year. is over quarter, XXX
the brands continues most largest grow. we platform and the with valuable Our and have to traction world's
As these recognized $X trailing opposed basis on calculate customer a we to million from reminder, as XX-month revenue a using count this ARR. customers in
another Turning cloud as continue we the to us gross margin our a to to non-GAAP in leading margins drive margin of for operations, quarter. at basis, third XX.X%, our gross subscription total a record increased non-GAAP here a to gross On XX.X% Sprinklr. efficiencies for record
higher gross believe in we services XX%, taking than which a non-GAAP in in we for be We approximately to much moving QX, services more non-GAAP estimate business. be to new recent the the services sustainable forward. professional as margin quarters Our margin have mid-teens on level at gross came become selective in
same X.X% third quarter, expenses This increased last revenues. and year the $XXX.X $X.X the operating period XX% down During of fact, non-GAAP in to non-GAAP from XX% million, year-over-year total revenues million expenses sequentially. representing total are is, of operating down during
basis is decrease quarter continue reflected this efficiencies year-over-year. with in points our results marketing, to XXX and which generate We sales in a
operating continue year-over-year. also We generate to basis G&A, points which decreased from leverage by XXX
in and year-over-year the time. concluded to years catch-up the earnings recall said of prior moderate non-GAAP the investment in coming in calls, investments made impact level has may the at early due investments of the we of of operating few XXXX partly XXXX that were FY of That in the last further you to FY pandemic catch-up result that on increases we As we second the half the expenses estimate unknown magnitude from and had quarters.
one the billings income every was or margins, a calls, of ahead of subsequent improvement quarter same on non-GAAP guidance. profitability our for slightly by low Turning on Street period full $X.XX will achieved QX of basis in income non-GAAP revenue quarter to we cash over This X% third XXXX. was adjusted of basis. with flow, a and be across for per collections. million mentioned to on the bottom-line operating and FY that the year. quarter gross of performance million cash free terms the improved $X.X flow in prior negative The we and share free This of of during seasonality our here in compared positive and FY department. in since quarter, for driven was operating as marginal QX the also And we third EPS improvements, $X.X last burn operating expense that non-GAAP margin year billings, operating free duration estimate given a first the flow discipline ongoing coupled by burn of result was operational performance, $X.X quarter a timing quarter million our To muted the positive XXXX, cash end, of the had the
historically the debt. $XXX $XXX.X last billings manner. quarter year excellent the calls. quarter outlined to This with calls, million trends, XXXX on third quick an earnings the billing than cash basis, were third Europe will for billings initiatives of the the quieter renewals. a we cash XX in FY communicated generating sheet, continue shape our in increase have billing improvement just the us lowest a in including balance Calculated timing we healthy and committed given flow of an and the summer growth the no have a and strategic our QX investing on notably, previous in what quarter few ended profitable and remain quarter positive reminder, year-over-year. investments billing for our in we our on quarter that months full us The experienced drive We as puts dynamics on earnings less in of a highest free having And to as cadence remains XX% a months seasonality our However, very being overall place. million, duration been with in general
quarter, first here to growth with noted nine the to nine the months the reported growth assuming billings up XXXX, growth revenue revenue by the of first all billings lagging approximately months continue between third we FY points, of calculated are and as same. For growth else the FY expect percentage delta in XX% previously remains And five and XXXX. billings to compared hold
As of up revenue to XX% up that XX% remaining while yet million, same performance which obligations or $XXX.X was QX, current RPO period committed year-over-year. represents the customer RPO, was the contracts last end million, of year; from has compared been total $XXX.X recognized, not
timing third RPO of was quarter seasonally the and CRPO a slower for renewals. quarter our expected, given As both the
We continue the to our the evaluate that best of metrics to RPO subscription are business. revenue underlying health and believe growth
of of revenue timing renewals based cadence on can the billings of and the Our duration customer relative fluctuate significantly invoicing to contracts.
XXXX year business and QX Moving and outlook. FY our guide now to full
three we growth on faced last in year XXXX. half tougher second last call, we given noted of FY the demonstrated the As over comparisons strong earnings quarters our the the of
tighter with new has spending. third recognize the in also budgets with scrutiny quarter along worsened on environment We additional the that macroeconomic
XX% of of to for million a view environment, we're Given the revenue QX million midpoint. year-over-year total in FY revenue to be with midpoint. be prudent XX% near-term growth taking $XXX.X at the in range the at this, growth QX. this million, range representing $XXX.X representing growth to the we Within to $XXX.X million, of expect Starting subscription XXXX, we expectations the expect $XXX.X year-over-year
be $X.XX, million shares operating million of of non-GAAP the to average weighted to income share range per We $X.XX million $X non-GAAP net $X income expect assuming outstanding. XXX to and in
year. the revenue total year-over-year subscription to For year tightening revenue are the representing million both to $XXX.X of range FY the in subscription $XXX.X the full million, be we XXXX, now and for outlook expect our midpoint. at We XX%growth
revenue be We million as expect range $XXX.X that margin services services impacting professional XXXX actively to our level the total absolute guide at revenue, to $XXX.X representing XX% forward, in growth the FY full midpoint. to the mentioned. of by million, going Note impacted is of year previously the manage decision year-over-year
year discipline, of improvement margin operating and range For XXXX. weighted of the operating loss million, loss continued to XXXX we is full $X.X allocation operating FY a of share $XX shares average year FY to assuming and million $X.XX, of resources. expect non-GAAP The our for for million to million FY a specifically be outstanding. the original an result non-GAAP non-GAAP go-to-market This versus million net efficiencies loss on XXXX, the improvement $X.XX in better is $X.X equating guide the focus to per the at operating midpoint our XXX versus $XX now of a
net dollars. business continues estimate provision million given first not tax reminder, a a have be U.S. Therefore, I in our even per the be $X.X in most the tax provision the to FY year. for our FX have just loss quick of want $X we material QX. the on XXXX because modeling U.S., loss the for discussion so FX in topical environment, million provided. the to approximately the for tax here. total a total outside year for macro nine to the of reiterate operating range $X.X full are needs provision a to billings position XX% approximately to impact very million be a fiscal share of booked our As added our We we financials non-GAAP deriving months though does purposes,
to I on fiscal Q&A, into would XXXX. commentary high-level moving Before like year some provide
give on We in practice. our which in will next guidance is our provide helpful the it given normal formal uncertainty earnings But our March, to is of market, investors a believe QX we the thinking year. view call sometime for
today, strong. long-term trends heard Sprinklr remains demand engagement you and As for
we to current near-term, will the the impacted continue in we be macroeconomic However, by environment. believe
in We expect further the all and last months budgets of to cycles. growth continue With sales expect that three macro through trends we resulting said, the revenue of lengthening from FY to XXXX what year. XX% we growth from I QX growth estimate next to outlined. revenue FY seeing rate XXXX just moderate approximately are the fiscal in be Based today; the for we on total tightening
improvements we we over In profitability, our terms made of XXXX. of have of path to proud are the FY the course
cash least upon operating that next QX And XXXX. XXXX. free a non-GAAP basis just reported as year the for meaningful expect expect will to be flow that build for mentioned year and to on generate income to We non-GAAP FY equal at FY to we earlier, full success positive we is margin continue operating
Lastly, dedication that and continued delivering the financial our customers uncertain across confidence business. thank employees strong the markets. execution and focused that a environment We up volatility a I our grateful the the our have let's building all employees. on remain operating questions. said, successful for us Operator? like placed record With during for in open I'm quarter would in it of of to third and discipline an macro track for
