Sprinklr Q2 FY27 Earnings: A Vendor Problem, Not a Market One
SoWhatNowWhat — Teardown
The 90-Second Take
Sprinklr is trying to pitch its second quarter as a planned low point during a wider tech rebuild. Total revenue grew by just 1%, and subscription revenue was up only 3%. The real problem was professional services, where gross margins plunged to -22%. Things seemed to have got so bad that CEO Rory Read had to step in, take direct control of the division, and try to stop the bleeding.
Sprinklr’s slump is not happening everywhere else in this market. Look at NiCE, Five9, and Genesys, which compete directly with Sprinklr's platform. They all grew by double digits during the same period, and two of them actually sped up.
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