# CXM Stock: Sprinklr Sold More Software and Made Less Gross Profit (Q2 FY2027)

Page: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/cxm-stock-sprinklr-sold-more-software-and-made-less-gross-profit-q2-fy2027
Text version: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/cxm-stock-sprinklr-sold-more-software-and-made-less-gross-profit-q2-fy2027.md
Podcast: [Charged Alpha Stock Encyclopedia](https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792)
Published: 2026-09-03T09:15:01+00:00
Episode link: https://chargedalpha.podbean.com/e/cxm-stock-sprinklr-sold-more-software-and-made-less-gross-profit-q2-fy2027/
Audio file: https://mcdn.podbean.com/mf/web/onzmfegi9jtujpug/audio_f.mp3
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JSON: https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/cxm-stock-sprinklr-sold-more-software-and-made-less-gross-profit-q2-fy2027
Duration seconds: 850

## Resource

Sprinklr (CXM) Q2 FY2027 — The stock fell 8.6% the same session, from $7.60 to $6.95, on 8.2 million shares against a 3.6 million average. Sprinklr grew subscription revenue 3.4% and the cost of delivering that subscription grew 17.8%, so subscription gross profit went BACKWARDS year on year. Operating expense moved 0.27%. The gross line explains 86% of a $6.3m fall in operating income, and 75% of the fall in gross profit came from professional services - a segment that is 8.8% of revenue and lost 25 cents on every dollar it billed. THE CALL: BEARISH (3/5, MODERATE) — base-case value ~$5.19 vs ~$6.95 today. KEY METRICS: - Total revenue $213.7m, up 0.8%. Subscription $194.8m, up 3.4%. Gross profit $139.2m, DOWN 3.7%. GAAP operating income $10.0m against $16.3m - a 39% fall on a flat top line - Subscription cost of revenue rose 17.8% to $50.9m while subscription revenue rose 3.4%, so subscription gross profit FELL, $145.3m to $144.0m. Margin 73.9% against 77.1% - Subscription gross margin by fiscal year: 82.6% (FY2024), 80.4% (FY2025), 76.4% (FY2026), 73.9% now. At the FY2024 margin this quarter earns $17.1m more gross profit - Professional services: revenue $18.9m, down 19.8%; cost of delivery $23.7m, down 2.4%. A $0.7m gross loss became $4.8m - 75% of the fall in gross profit on 8.8% of revenue - Operating expense is flat: research, sales and admin went $129.3m to $129.7m, up 0.27%. The gross line explains 86% of the $6.3m operating income decline - The FY2026 10-K said so in writing: gross margin 'will decline in the near term due to higher data and hosting costs, coupled with higher service delivery costs' - FY2026 subscription cost carried '$33.3 million' more of third-party data, cloud and network infrastructure. $70.9m of non-cancellable hosting commitments fall d…

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