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Stock-Based Compensation | 9 Months Ended
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Oct. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Equity Award Plans The Company has two equity incentive plans, the Sprinklr, Inc. 2021 Equity Incentive Plan (the “2021 Plan”) and the Sprinklr, Inc. 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan was terminated as to future awards in June 2021 upon the adoption of the 2021 Plan, 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, restricted stock units (“RSUs”), performance-based stock units (“PSUs”) and other forms of awards to employees, directors and consultants, including employees and consultants of the Company’s 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 Company’s stock option activity for the nine months ended October 31, 2025 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, 2025 | 18,572 |  |  | $ | 6.60 |  |  | 4.7
Exercised | (2,997) |  |  | 4.63 |  |  |
Forfeited | (1,251) |  |  | 10.89 |  |  |
Expired | (6) |  |  | 1.79 |  |  |
Outstanding as of October 31, 2025 | 14,318 |  |  | $ | 6.63 |  |  | 4.3
Exercisable as of October 31, 2025 | 13,753 |  |  | $ | 6.39 |  |  | 4.2
Vested and expected to vest as of October 31, 2025 | 14,317 |  |  | $ | 6.63 |  |  | 4.3
Summary of Restricted Stock Unit Activity A summary of the Company’s RSU activity for the nine months ended October 31, 2025 is as follows:
| Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Outstanding as of January 31, 2025 | 14,750 |  |  | $ | 10.46 |
Granted | 13,147 |  |  | 8.79 |
Released | (4,577) |  |  | 11.14 |
Cancelled/forfeited | (4,949) |  |  | 10.38 |
Outstanding as of October 31, 2025 | 18,371 |  |  | $ | 9.12 |
Summary of Performance-Based Stock Units Activity A summary of the Company’s PSU activity for the nine months ended October 31, 2025 is as follows:
| Number of Performance Stock Units |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Outstanding as of January 31, 2025 | 2,918 |  |  | $ | 8.31 |
Granted | 1,032 |  |  | 12.37 |
Cancelled/forfeited | (380) |  |  | 9.47 |
Outstanding as of October 31, 2025 | 3,570 |  |  | $ | 9.36 |
As of October 31, 2025, the Company had 660,000 PSUs outstanding associated with a January 2021 grant (“2021 PSUs”). These awards vest over a five-year period if certain performance and market conditions are met. The performance condition was met in June 2021 and t he market conditions have not yet been met as of October 31, 2025. If the market conditions are not met on or prior to January 28, 2026, the 2021 PSUs will not vest and will be subsequently cancelled. From November 2024 through October 2025, the Company granted 3,169,175 PSUs to its executives (the “2024 and 2025 PSUs”). Seventy-five percent of the 2024 and 2025 PSUs are associated with a market condition relating to total shareholder return (“Market Condition PSUs”) and twenty-five percent of the 2024 and 2025 PSUs are associated with a performance condition relating to the achievement of an internal metric calculated based on revenue and non-GAAP operating income growth over an approximately three-year period (“Performance Condition PSUs”). Each of the Market Condition PSUs and Performance Condition PSUs will vest between zero and 200% depending on the achievement level of the market and performance conditions, respectively. If the market or performance conditions are not met by their respective achievement dates in fiscal year 2028, the associated awards will not vest and will be subsequently cancelled. As of October 31, 2025, it was deemed probable that the performance conditions associated with the 2024 and 2025 PSUs will be met by their respective achievement dates, such that 100% of the 2024 and 2025 PSUs will vest. As of October 31, 2025, the Company had 2,909,175 2024 and 2025 PSUs outstanding. To determine the fair value of the 2024 and 2025 PSUs, the Company utilized a Monte Carlo simulation. The inputs included in the valuations were as follows:
Vest-term | Three years
Volatility | 48.1% - 53.7%
Risk-free rate | 3.61% - 4.22%
Fair value of common stock at grant date | $7.81 - $9.14
Dividend yield | 0%
Expected term | 2 - 3 years
Fair value valuation | $11.29 - $14.84
Stock-Based Compensation Expense Stock-based compensation expense included in operating results was allocated as follows:
| Three Months Ended October 31, |  | Nine Months Ended October 31,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Costs of subscription | $ | 312 |  |  | $ | 335 |  |  | $ | 800 |  |  | $ | 945 |
Costs of professional services | 844 |  |  | 400 |  |  | 1,962 |  |  | 1,081 |
Research and development | 4,347 |  |  | 2,896 |  |  | 12,437 |  |  | 8,304 |
Sales and marketing | 6,366 |  |  | 5,091 |  |  | 18,785 |  |  | 16,497 |
General and administrative | 8,512 |  |  | 6,508 |  |  | 28,115 |  |  | 17,350 |
Restructuring | — |  |  | — |  |  | 866 |  |  | — |
Stock-based compensation, net of amounts capitalized | 20,381 |  |  | 15,230 |  |  | 62,965 |  |  | 44,177 |
Capitalized stock-based compensation | 731 |  |  | 643 |  |  | 2,036 |  |  | 1,825 |
Total stock-based compensation | $ | 21,112 |  |  | $ | 15,873 |  |  | $ | 65,001 |  |  | $ | 46,002 |

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