Financial Analysis

Commitments and Contingencies Cash Collateral Agreements The Company maintains cash collateral agreements in lieu of letters of credit for certain leases and customer contracts. As of both April 30, 2026 and January 31, 2026, approximately $8.5 million is outstanding under these cash collateral agreements, which is classified as restricted cash and reported within prepaid expenses and other current assets ($2.1 million) and other non-current assets ($6.4 million) on the condensed consolidated balance sheets. Legal Matters From time to time, the Company, various subsidiaries, and certain current and former officers and directors may be named as defendants in various lawsuits, claims, investigations, and proceedings arising from the normal course of business. The Company also may become involved with contract issues and disputes with customers. With respect to litigation in general, based on the Companys experience, management believes that the amount of damages claimed in a case are not a meaningful indicator of the potential liability. Claims, suits, investigations, and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of cases. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, estimated settlements …

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Stock-Based Compensation Equity Incentive Plans The Sprinklr, Inc. 2011 Equity Incentive Plan (the 2011 Plan) provided certain equity grants to the Companys employees, directors, consultants, and service providers. The 2011 Plan was terminated as to future awards in June 2021 when the Sprinklr, Inc. 2021 Equity Incentive Plan (the 2021 Plan) became effective, although it continues to govern the terms of any equity grants that remain outstanding under the 2011 Plan. The 2021 Plan provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, RSUs, performance-based stock units (PSUs), and other forms of awards to employees, directors, and consultants, including employees and consultants of the Companys affiliates, as permitted by law. In June 2021, the Company also adopted its ESPP, under which employees can purchase common stock through payroll deductions at a price equal to 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of each offering period and (ii) the last trading day of each related offering period. Summary of Stock Option Activity A summary of the Companys stock option activity for the three months ended April 30, 2026 is as follows: Number of Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in thousands) (in years) Outstanding as of January 31, 2026 13,918 $ 6.68 4.1 Exercised (32) $ 4.03 Forfeited (107) $ …

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Fair Value Measurements The following tables present information about the Companys financial assets that have been measured at fair value on a recurring basis as of April 30, 2026 and January 31, 2026, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value: April 30, 2026 January 31, 2026 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Financial assets: Cash equivalents: Money market funds $ 13,852 $ $ 13,852 $ 11,095 $ $ 11,095 Corporate bonds 669 669 Commercial paper 2,499 2,499 Certificates of deposit 520 520 Marketable securities: Corporate bonds 86,920 86,920 129,974 129,974 Municipal bonds 17,861 17,861 17,855 17,855 U.S. government and agency securities 107,311 107,311 115,454 115,454 Certificates of deposit 23,909 23,909 29,409 29,409 Commercial paper 43,474 43,474 46,845 46,845 Total financial assets $ 13,852 $ 280,144 $ 293,996 $ 11,095 $ 342,556 $ 353,651 The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its commercial paper, corporate and municipal debt securities, U.S. government and agency securities, and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security, which may not be …

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Income Taxes The Company computes its year-to-date provision for income taxes by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusts the provision for discrete tax items recorded in the period. During the three months ended April 30, 2026 and 2025, the Company recorded an income tax provision of $12.1 million and $6.7 million, respectively. During the three months ended April 30, 2026, the Companys effective tax rate differed from the U.S. federal statutory tax rate primarily due to the impact of non-deductible items, state taxes, and foreign tax rate differential on non-U.S. income. During the three months ended April 30, 2026, the Company also recorded discrete income tax expense related to the impact of non-deductible stock-based compensation of $3.8 million, withholding tax of $1.2 million, and changes in uncertain tax positions for certain of the Companys non-U.S. entities of $2.3 million. During the three months ended April 30, 2025, the Companys effective tax rate differed from the U.S. federal statutory tax rate primarily due to the impact of non-deductible items, stock-based compensation, and foreign tax rate differential on non-U.S. income. During the three months ended April 30, 2025, the Company also recorded discrete income tax expense related to impacts of non-deductible stock-based compensation and withholding tax of $3.0 million and $1.6 million, respectively. The Company monitors the realizability of its deferred …

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Leases The Company leases corporate office space under non-cancelable operating leases with various expiration dates. The Company did not have any finance leases during the three months ended April 30, 2026 and 2025. The components of lease expense were as follows: Three Months Ended April 30, (in thousands) 2026 2025 Operating lease cost $ 3,072 $ 2,983 Variable lease cost 374 349 Short-term lease cost 37 116 Total lease cost $ 3,483 $ 3,448 The weighted average remaining lease term and discount rate were as follows: April 30, 2026 January 31, 2026 Weighted average remaining lease term (years) 6.36 6.46 Weighted average discount rate 8.42% 8.41% The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, were as follows: (in thousands) Fiscal year ended January 31, 2027 (remaining nine months) $ 8,668 2028 9,925 2029 8,150 2030 6,751 2031 6,220 2032 6,510 Thereafter 11,080 Total minimum lease payments 57,304 Less: imputed interest (13,478) Total $ 43,826

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In November 2024 and January 2025, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (ASU 2024-03), and ASU 2025-01, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures: Clarifying the Effective Date (ASU 2025-01), respectively. These ASUs require new financial statement disclosures disaggregating prescribed expense categories within relevant income statement expense captions. ASU 2024-03 and ASU 2025-01 will be effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of these standards on its disclosures in the consolidated financial statements. In July 2025, the FASB issued ASU 2025-05, Financial InstrumentsCredit Losses: Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05), introducing a practical expedient whereby, when developing reasonable and supportable forecasts as part of estimating expected credit losses, entities may elect to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for the Companys annual period beginning fiscal year 2027, on a prospective basis, and early adoption is permitted. The Company is currently evaluating the impact that ASU 2025-05 will have on its consolidated …

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Restructuring Charges In February 2025, the Company implemented an approved plan for restructuring its global workforce by approximately 12% to help position the Company for long-term success by realigning employee costs with the current business and freeing up capital for incremental investments. The majority of the associated costs, including severance, benefits, and the acceleration of equity awards, were incurred in the first half of fiscal year 2026. Changes in the restructuring liability for the periods presented are set forth in the table below: Three Months Ended April 30, (in thousands) 2026 2025 Accrual, beginning of period $ 1,642 $ Restructuring charges (1) (654) 15,447 Cash payments (298) (11,839) Accrual, end of period $ 690 $ 3,608 (1) Restructuring costs shown in the table above do not include related stock-based compensation expense of $0.9 million for the three months ended April 30, 2025. There was no related stock-based compensation expense for the three months ended April 30, 2026. Stock-based compensation expense associated with the Companys restructuring plans is included in restructuring on the consolidated statements of operations. The reversal of restructuring costs for the three months ended April 30, 2026 was attributable to the favorable resolution of certain restructuring-related liabilities. Restructuring liabilities are included in accrued expenses and other current liabilities in the condensed consolidated balance sheets, the majority of which …

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Revenue Recognition The Company generates revenues primarily from (i) subscription fees, which consist primarily of fees for accessing its proprietary Unified-CXM platform and related stand-ready services; and (ii) professional services fees, which include fixed-fee arrangements for implementation and managed services associated with the Unified-CXM Platform. For managed services, the Companys consultants work alongside customers teams to support their CXM goals and include platform configuration, ongoing education, and ad-hoc support. Costs to Obtain Customer Contracts Capitalized costs to obtain customer contracts as of April 30, 2026 were $183.8 million, with $66.8 million classified as current (included in prepaid expenses and other current assets) and $117.0 million classified as non-current (included in other non-current assets). As of January 31, 2026, capitalized costs were $173.0 million, with $63.1 million classified as current and $109.9 million classified as non-current. During the three months ended April 30, 2026 and 2025, the Company amortized costs to obtain customer contracts of $18.0 million and $12.0 million, respectively. Deferred Revenue Deferred revenue consists primarily of customer billings made in advance of the related performance obligations being satisfied. The Company recognized revenue of $141.5 million for the three months ended April 30, 2026 that was included in the deferred revenue balance at the beginning of the period. The Company receives …

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Segment and Geographic Information The Company operates as one operating and reportable segment, reflecting the manner in which its operations are managed and the criteria used by the chief operating decision maker (CODM), who is the Chief Executive Officer. The CODM evaluates performance, develops strategy, and allocates resources based on net income as reported in the Companys condensed consolidated statements of operations. The Companys one segment provides enterprise solutions that enable organizations to conduct marketing, advertising, research, customer care, sales, and engagement across modern channels, such as social media, messaging, chat, and text, through its Unified-CXM platform. The CODM assesses operating performance and makes resource allocation decisions on a global basis using net income, considering both historical results and forecasts for future periods. Segment assets are the total assets reported in the Companys condensed consolidated balance sheets. Significant segment expenses regularly provided to the CODM are the consolidated operating expenses presented in the Companys condensed consolidated statements of operations. No supplemental expense or asset information beyond what is disclosed in these condensed consolidated financial statements is regularly provided to the CODM. Other segment items included in condensed consolidated net income, such as depreciation and amortization, interest income, and provision (benefit) for income taxes, are presented i …

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Stockholders Equity Cancellation of Treasury Shares On April 29, 2026, the Companys board of directors (the Board) approved the cancellation of all shares of its stock previously held in treasury. As a result, a total of 14,130,784 treasury shares with a carrying value of $23.8 million were cancelled, reducing the Companys treasury stock balance to zero. The carrying value of the cancelled shares was reclassified from treasury stock and recorded as a decrease to additional paid-in capital. Share Repurchase Program On March 11, 2026, the Company announced that the Board had authorized and approved a share repurchase plan (the 2026 Share Repurchase Program), which authorized the Company to periodically repurchase up to $200 million of its Class A common stock through March 15, 2027. Under the 2026 Share Repurchase Program, on March 13, 2026, the Company entered into a variable tenor accelerated share repurchase agreement (ASR Agreement) with Citibank, N.A. (Citibank) to repurchase an aggregate of $125 million of the Companys Class A common stock. Upon the completion of the ASR Agreement, the Company will have a remaining authorization to purchase up to an additional $75 million of the Companys Class A common stock at the Companys discretion through March 15, 2027, subject to market conditions and other factors. Repurchases under the 2026 Share Repurchase Program are expected to be funded using cash on hand, cash equivalents, and marketable securities. Pursuant to the terms of t …

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