Sprinklr, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Marketable Securities

Marketable Securities

12 Months Ended

Jan. 31, 2024

Investments, Debt and Equity Securities [Abstract]

The following is a summary of available-for-sale marketable securities, excluding those securities classified within cash and cash equivalents on the consolidated balance sheets:


	January 31, 2024
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Losses		Fair Value
Corporate bonds	$	98,642	$	71	$	(10)	$	98,703
Municipal bonds	982		3		—		985
U.S. government and agency securities	185,464		140		(33)		185,571
Certificates of deposit	46,496		48		(1)		46,543
Commercial paper	166,595		155		(21)		166,729
Marketable securities	$	498,179	$	417	$	(65)	$	498,531


	January 31, 2023
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Losses		Fair Value
Corporate bonds	$	39,922	$	8	$	(68)	$	39,862
Municipal bonds	12,429		22		—		12,451
U.S. government and agency securities	128,898		6		(367)		128,537
Certificates of deposit	59,546		28		(155)		59,419
Commercial paper	150,131		41		(202)		149,970
Marketable securities	$	390,926	$	105	$	(792)	$	390,239

As of January 31, 2024 and 2023, the maturities of available-for-sale marketable securities did not exceed 12 months. Interest income from cash and cash equivalents and marketable securities was $30.2 million, $8.5 million, and $0.5 million for the years ended January 31, 2024, 2023, and 2022 respectively.

There were 64 and 180 debt securities in an unrealized loss position as of January 31, 2024 and 2023, respectively. The estimated fair value of these debt securities, for which an allowance for credit losses has not been recorded, was $178.7 million and $220.9 million as of January 31, 2024 and 2023, respectively. There were no expected credit losses recorded against the Company’s investment securities as of January 31, 2024 and 2023.

Unrealized losses on the Company’s debt securities are not considered to be credit-related based upon an analysis that considered the extent to which the fair value is less than the amortized basis of a security, adverse conditions specifically related to the security, changes to credit rating of the instrument subsequent to Company purchase, and the strength of the underlying collateral, if any.

Refer to Note 5, Fair Value Measurements, for addition information about the fair value of the Company’s short-term marketable securities.