Ladies and gentlemen, thank you for standing by, and welcome to Sprinklr's Third Quarter of Fiscal 2022 Earnings Conference Call. Joining us today are Ragy Thomas, Sprinklr's Founder and CEO; Vivek Kundra, Chief Operating Officer; and Chris Lynch, Chief Financial Officer. At this time, all participants are in a listen-only mode. After the speaker's remarks, there will be a question-and-answer session. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mr. Chris Lynch for introductory remarks, please go ahead, Chris.

Thank you. And thanks to everyone for joining us today for Sprinklr's third quarter earnings call for the three-month period ending on October 31. We issued our earnings release a short time ago, filing the associated 8-K with the SEC, and we've also made available on the Investor Relations section of our website. As a reminder, during today's call, we'll be making forward-looking statements about the business and about the financial results of Sprinklr, which involve many assumptions, risks, and uncertainties, and our actual results might differ materially. Any forward-looking statements that we make on this call are based on our beliefs and assumptions as of today, and we disclaim any obligation to update them. For more details on the risks associated with these forward-looking statements, please refer to the text in the company's press release issued today and to our periodic reports filed with the SEC, including our quarterly report Form 10-Q for the quarter ended October 31st, 2021, that will be filed with the SEC. With that, let me turn the call over to Ragy.

Thanks, Chris, and hello, everyone. It is wonderful to speak with all of you again. First and foremost, I'm really pleased to report a truly excellent third quarter that exceeded guidance on all metrics. Q3 revenue grew 32% year-over-year to $127.1 million, and subscription revenue grew 29% year-over-year to $109.9 million. This is the fourth quarter that we have accelerated our revenue growth rate back to back, which is continued validation from the world's largest enterprises that there's a massive need to unify experiences across customer-facing functions and channels from Care to Marketing on all modern channels. The need is not just to unify customer experiences across functions and teams; it is to unify customer experiences across markets globally. In many cases, the need is to unify experiences across brands or business units for multi-brand and multi-business unit companies. Our vision and strategy haven't changed since the company was founded 12 years ago. We are here to do three things: 1. To lead a new category of enterprise software that we call unified customer experience management. 2. To build the world's most loved, and I repeat, most loved enterprise software company. And 3, to create a culture that obsesses about customers and treats one another like family. The sustained execution and results that you're seeing from us this quarter are simply a reflection of who we are and who we have always been. With this renewed momentum, we have never been more excited about the opportunity in front of us. Our customers tell us that they want to replace point solutions in the front office with a single platform that is purpose-built for modern channels and needs to integrate with other best-of-suite platforms that they already have. In short, they need more platforms that work well with each other and fewer point solutions that don’t work together. This is the reason our net dollar expansion increased significantly this quarter. We now have 80 customers with more than 1 million in trailing 12 months subscription revenue. It's clear that every large enterprise in the world is in the midst of their own digital transformation towards becoming customer-centric. Everyone is trying to find ways to deliver a better, more unified customer experience. Most are still early in that journey. But for a million-plus customers like Honda and many others, they are moving much faster than others. When you talk to our customers and companies like them, you will see a pattern. It's common for large companies to start with point solutions in modern channels and try to stitch them together. The problem is it never scales. With point solutions, it is impossible for any company to improve experiences that customers are having with them. It was the right thing to do 5, 10 years ago because there wasn't an alternative; they had to choose between best-of-breed point solutions or a platform with basic capabilities. Now, with Sprinklr, they don't have to. They can make a no-compromise decision with 31 next-generation capabilities that they need across 4 major customer-facing functions—from marketing to customer care—all on one platform, where everything and everyone can work together. Unification on Sprinklr doesn't happen all at once; it happens in phases, land and expand. With the unified platform as broad as ours, any of our 31 products across our 4 product suites can be the entry point. Some customers start by unifying social, maybe across markets and business units, then they expand to unify all of marketing, where they have visibility across content and campaigns. Sometimes they unify all outbound engagement, bringing marketing and sales together. Sometimes customers approach it the other way, starting with unifying Research and getting insights in one place, followed by customer care. No matter what path they start, the pieces come together on Sprinklr, giving these companies something they know they need: a single platform that could become the foundation for unifying the entire customer experience across all modern channels. Enterprises don't start with Unified-CXM; they arrive at it. Here are two examples. Let's start with Prada, an incredible company not just reimagining the future of luxury. During my last trip to Europe, I had the privilege of meeting Lorenzo Bertelli, who was recently announced as their future CEO. It was fascinating to hear him describe his vision to unify each brand across in-person and digital channels to serve customers when and where they desire the best experience. Over the past 18 months, the Prada Group has been progressively unifying advertising, engagement, research, and care, all on Sprinklr, to execute against their digital-first strategy and to support the exponential growth that they're seeing on online channels. They started with Sprinklr's Modern Advertising and Modern Sales and Engagement suites, pulling together five global brands for full visibility in campaign creation, publishing, and performance across modern channels. The group now manages 147 accounts with more than 5,000 messages published from Sprinklr this year. They then added our AI-powered Modern Research suite, tracking 92 million mentions across 183 broad topics, with more than 70 custom dashboards from which they gain real-time insights. In Q3, they added our Modern Care and conversational commerce product, which enables proactive selling in the channels that customers prefer. Another great example is Honda Japan, who first partnered with Sprinklr in 2016 when its Data Science Team adopted our listening product to listen to brand-relevant conversations across social channels and gain actionable insights. They then added display, turning that data into interactive experiences for their employees. Today, Honda Japan has over 100 users on modern research and tracks over 100 car models, measuring marketing effectiveness, benchmarking social content and engagement against competitors, and detecting and monitoring for crises. Honda has since expanded the usage of Sprinklr to include Modern Advertising, Modern Care, and the Modern Sales and Engagement suites. In Q3, they added voice as a channel for customer care and engagement, as the company's e-commerce business began to gather momentum, becoming Sprinklr's first customer to implement voice in Japan, enabling their agents to now seamlessly engage with consumers however they choose to connect. As Honda’s head of the new e-commerce business explained to us, our goal is to connect authentically across channels, and Sprinklr enables us to do that. Sprinklr is a customer-first company. One way that manifests is in our unmatched pace of innovation, which has always set us apart. This quarter was no different. We launched 600 new features and enhancements in the last 90 days that are going to benefit our customers. One of the more exciting innovations in this release was our persona-based apps that include a homepage for each job role in the front office. This puts the insights and workflows that each user needs to do their specific job right at their fingertips. These and other usability innovations we've rolled out in the past several years have consistently made Sprinklr easier to use, even for the largest and most complex use cases. We've always said that our key differentiator is our industry-leading AI for unstructured public digital data. I'm proud to announce that we've been awarded 2 AI patents this quarter. The first one is for our smart responses, which uses AI to deeply understand the conversations between customers and agents, predicting the best response to users' questions by understanding intent. The second is for product insight, which gives brands highly granular insights into what their customers like and dislike about their products, using advanced artificial intelligence. Fueled by the strength of our Research and Development, Modern Care continues to be one of our fastest-growing products and product suites. This is evidenced by a number of Care deals this quarter with brands like Honda, Lululemon, Nestle, and Prada. We released a powerful feature called Compliance Management to help banking, financial services, and insurance companies comply with regulatory requirements worldwide, especially in countries like Australia. Using our AI, Compliance Management helps these companies automatically identify complaints and route them to the right agent or resource, providing end-to-end accountability across 35 plus channels. In other product news, we announced our first self-service product last quarter, our Modern Research Lite, to make it easier for our target customers to get started with Sprinklr. We are excited about the response we've seen so far and pleased with the positive impact it has had on demand generation and the new prospects it has created in our pipeline. This quarter, I'm excited to announce the beta release of our next self-service product, Modern Care Lite. Modern Care Lite works with our Modern Research self-service product to provide fairly comprehensive care capabilities in an easy-to-use interface. Also, on the innovation front, we received the 2021 Best of Enterprise Connect Award for the best innovation and customer experience for our Conversational Commerce product. Our new engagement feature uses AI to guide customers from intent to purchase, helping them with product selection and evaluation along the way. This quarter, Amazon Web Services also awarded us the Government Competency Partner status, reflecting our expertise in delivering a unified platform to address the specific needs of civilian agencies, national defense, intelligence communities, state and local governments, and higher education institutions. On the culture and talent side, we were named to Inc. Magazine's 2021 Best Led Companies list. That's a testament to our focus on creating value for our customers and investing in our talent and leadership. For me personally, the best thing about being a public company in the last 6 months has been the incredible opportunities I've had to meet with some of the smartest people in the world, from investors to customers across the entire enterprise software space. Having conducted over 60 investor meetings and more than 50 customer meetings this quarter with CIOs, CTOs, CMOs, and heads of customer care across tech, telco, healthcare, CPG, luxury, retail, automotive, and hospitality, I can tell you one thing: the message we're hearing is the same across the industry, across these different functions, teams, and executives. Point solutions are simply not sustainable. They’re siloed and expensive. In closing, I'd like to summarize a couple of thoughts. First, we believe that every large company will need what we're building, and as a result, the rise of this category is inevitable. Second, we believe that, with our focus on innovation and specifically customer-led innovation, Sprinklr will lead the way. I'd like to thank our customers, partners, and all of you investors for the trust you've placed in Sprinklr every day. And most of all, thank you to over 3,000 of our own Sprinklrites for everything you do. The best is really yet to come. With that, let me turn it over to Vivek.

Thank you, Ragy, and good afternoon, everyone. In Q3, we had phenomenal execution across every function, with revenue increasing 32% year-over-year. This performance validates not only that our go-to-market strategy is working but that this company continues to scale up and deliver across multiple products and in every market around the world, from America to Europe to APJ. You've heard us talk about Sprinklr being a story of reaccelerating growth. Over the past year, you've seen exactly that. We've increased our revenue growth rate for four quarters in a row. This growth is powered not only by strength in our new bookings, upsells, and cross-sells but also by the fact that we continue to have world-class customer retention across the board—from our largest and most strategic global customers to our smaller enterprise customers. That retention is a clear indication of the stickiness and immense value these enterprises are realizing from our platform. It is even more evident when you look at our 1 million-plus customer base. As of Q3, we now have 80 customers globally generating over 1 million in subscription revenue. These are the world's largest and most iconic brands like Microsoft, Vodafone, and Twitter. They represent the best of what Unified-CXM looks like. Today, 90% of these 1 million-plus customers have at least 3 of our 4 product suites and continue to expand with us quarter after quarter. As you've heard me say before, we have a growth flywheel that's working at scale across our customer base, with a proven ability to up-sell, cross-sell, and expand across brands and geographies. I want to congratulate the team on driving a significant increase in our net dollar expansion this quarter to 117%. From our ability to up-sell, expanding an account like Pepsi with hundreds of new seats for Modern Sales and Engagement and a significant expansion in Modern Research to our ability to cross-sell, landing in an account like Kingston Technology with Modern Sales and Engagement and Modern Research and expanding into Modern Care to our ability to expand across brands and geos as we've done repeatedly with Samsung, and did again this quarter as they added hundreds of new Modern Care licenses, expanding into LatAm, Southeast Asia, and India. We continue to see our primary growth factor, our focus on large enterprises with $1 billion plus in annual revenue pay off with expansions like these and others from brands like Nestle, Lululemon, and Super Dry, the addition of new logos like Hugo Boss and Land O'Lakes. With thousands of companies selected target as our sales capacity continues to grow, we've never been more confident in this segment's ability to fuel durable, sustainable growth for years to come. But it's not just our first growth factor that gives us confidence. We also have momentum in our second growth sector, focusing on enterprises with $100 million to $1 billion plus in annual revenue. These are also large organizations grappling with point solution chaos. In Q3, we signed up amazing new customers like Ledger, CrossCountry Mortgage, and Everlane. We see tremendous opportunity in this sector. That's why last quarter, we introduced a self-serve way for enterprises to try a free, lightweight version of Sprinklr to accelerate and drive greater efficiency in our inbound demand generation efforts. We're pleased with the early results from Modern Research Lite, with a few thousand brand sign-ups in just a few months. It's still early, but we're already seeing that activity drive demo requests for our full solution and bring new prospects into the pipeline. And with Modern Care Lite available in beta, we will continue to innovate and expand our footprint in the second vector. Another pillar of our growth flywheel is our partner ecosystem. In Q3, this partner has helped us land and expand significant customer wins, like Land O'Lakes, Jumbo, Alaska Air, and Prada, in addition to four $1 million plus ARR deals. We continue to expand our international footprint as well, adding fantastic new partners like Capgemini to extend our presence in Europe and Wipro to broaden our reach throughout the Middle East and Asia. Now, I'd like to share two customer wins from this quarter, TikTok and MGM Resorts. TikTok is only 3 years old and, with over 1 billion users around the world, it's already one of the fastest-growing entertainment services companies in history. When I met with the company's Global Head of Marketing recently, it was clear TikTok is focused on delivering great experiences at unimaginable scale. In early 2020, TikTok turned to Sprinklr to do just that. Starting with its global marketing team before quickly expanding to more than 20 countries, spanning multiple business units, teams, and external agencies, all of which are now unified on Sprinklr. In Q3, TikTok added even more users and bought Sprinklr into another new region, Southeast Asia. Expanding a partnership that now includes Modern Research, Modern Sales and Engagement, and Modern Care. With Modern Research, TikTok leverages advanced AI to make sense of what is being said about one of the world's most talked-about brands, distilling relevant conversation into real-time insights about TikTok's brand perception and market trends. With Modern Sales and Engagement, TikTok isn't just collecting feedback; they are taking action by empowering their teams to interact with users across multiple channels. With Modern Care, TikTok has been able to provide best-in-class support. Now let's switch gears to MGM. The hospitality and entertainment industry was hit hard during the global pandemic, and MGM Resorts International, a Sprinklr partner for over 8 years, was no exception. A global entertainment company with destination resorts around the world, the story of MGM over the past 18 months is one of triumph over adversity. For years, MGM has managed its entire customer experience workflow within Sprinklr, including 913 accounts across 14 channels. Using Modern Research to gather deep insights about its brand and Modern Sales and Engagement to surprise and delight its guests with unforgettable experiences. When the pandemic hit, Sprinklr became more vital to MGM than ever before, not just because MGM needed critical insights about customer sentiments that were changing by the minute, but because, with many of its employees furloughed, they needed to be able to do more with less. Sprinklr's AI capabilities have been central to helping the company manage over 300,000 inbound messages and more than 50,000 guest reviews so far this year, automatically categorizing each one and identifying those that need immediate attention. In Q3, MGM implemented location insights for more than 300 restaurants, bars, and hotels to provide an even more granular set of insights, helping them take targeted, location-specific actions to improve the guest experience. When asked about our partnership, Kristina Arietta, Executive Director of Social Strategy, said, 'These insights allow us to achieve our number one priority—guest centricity—while simultaneously mitigating risks to our brand, which has been critical for MGM over the past year and a half. Today, 1,100 of the world's largest and most valuable enterprises turn to Sprinklr for three reasons: 1. The depth and breadth of our Unified-CXM platform is unmatched and purpose-built for the enterprise. 2. Our industry-leading AI enables enterprises to make sense of unstructured customer experience data and act on it at scale. 3. We deliver meaningful ROI for our customers, helping them increase revenue, reduce costs, or mitigate risks. With that, let me turn the call over to Chris Lynch to review the financials.

Thanks, Vivek. Today, I'm going to provide a brief overview of our third quarter financial results and provide guidance for the fourth quarter, as well as for our full fiscal year, both of which end on January 31st of 2022, and then we will open it up for questions. I should point out that, in addition to our GAAP financial results, I will also be discussing certain non-GAAP numbers today. Our GAAP results along with the reconciliation between GAAP and non-GAAP results can be found in today's earnings release and on our Investor Relations website. As you've heard from both Ragy and Vivek, we delivered another strong quarter across the board, accelerating the pace of our top-line growth yet again. Last quarter, we reported revenue growth of 27%, and this quarter we are reporting another significant acceleration with total revenue up 32% year-over-year to $127.1 million. That's driven largely by subscription revenues of $109.9 million, which grew 29% versus Q3 of last year. Our non-GAAP subscription gross margin improved to 80% in Q3, which helped us deliver a non-GAAP total gross margin of 71%. On the bottom line, we generated a non-GAAP operating loss of $13.5 million for the quarter, while using just $1.1 million in operating cash flow and only $4.1 million in free cash flow. That impressive cash flow result helped us end the quarter with well over $0.5 billion of cash and short-term investments on the balance sheet, so we have plenty of capital to continue growing the business. I'm also happy to report a notable 300 basis point increase in our net dollar expansion rate this quarter to 117%. That calculation, you'll remember, is using trailing 12 months subscription revenues. This dramatic increase over the last 90 days further underscores the go-to-market investments we made in the back half of last year continuing to pay off. That's true of our billings as well, which were up year-over-year by 31%, and that's for the third consecutive quarter that our billings growth has been at least 30% versus the prior year. Current remaining performance obligations, or CRPO, which represents contracted revenues that will be recognized over the next 12 months, stood at $329.6 million at the end of Q3, and that's up 29% versus Q3 of last year. Finally, as you heard from Ragy earlier, we now have over 80 customers contributing 1 million or more in subscription revenue over the last year, which is also a 29% year-over-year increase. That momentum speaks to the strategic value that our Unified-CXM platform is creating for the world's largest and most valuable brands. This brings me to guidance for the fourth quarter of fiscal '22, ending on January 31. We expect subscription revenue to be within the range of $113 million to $115 million, which represents 27% growth year-over-year at the midpoint. We expect total revenue for the quarter to be in the range of $129 million and $131 million, representing 25% growth year-over-year at the midpoint. While the service revenue grew 52% last quarter due to strong execution from our team, and although the service business remains robust into Q4, particularly our recurring services, we're expecting the growth rate in services to normalize in Q4, which is why the subscription revenue guidance is at 27% while the total revenue guidance is at 25%. Consistent with the operating plan we set out at the start of the year, we expect a non-GAAP operating loss in Q4 in the range of $21 million to $23 million, and a non-GAAP net loss per share of $0.08 to $0.09, assuming 260 million weighted average shares outstanding. For our full fiscal year, which also ends on January 31st, we're providing the following guidance: we expect subscription revenue to be in the range of $423 million to $425 million, representing 25% growth year-over-year at the midpoint. We expect total revenue to be within the range of $486 million to $488 million, representing 26% growth year-over-year at the midpoint. For the full year, we expect a non-GAAP operating loss in the range of $48 million to $50 million, and we expect a non-GAAP net loss per share between $0.30 and $0.31, assuming 195 million weighted average shares outstanding. Results like these don't happen overnight, so I want to echo what both Ragy and Vivek said, and thank everyone at the company for delivering such strong results this quarter and for helping us to capitalize on our huge market opportunity with our technology leadership and for creating a durable, multiyear growth opportunity here at Sprinklr. Let me leave you with a summary of these results as I see them. Last year, we laid out a plan to dramatically accelerate the revenue growth of this business, and with full quarters of accelerating growth rates, we have delivered on and exceeded that plan. We said we have the right product in the right market at the right time, and that we needed to invest in our go-to-market machine and build out distribution. That's exactly what we've been doing. Today, we have more sales capacity than we've ever had, and a bigger global footprint than we've ever had, and there's more awareness than ever before of the value we're creating for our clients. This incredible momentum in our business can be seen in every one of the metrics I just talked about, whether it be net dollar expansion, subscription revenue growth, CRPO, billings, or the number of customers paying us more than $1 million each year. That's why, as we round the corner towards our next fiscal year, we at Sprinklr are so excited about the opportunity ahead. With that, we're happy to take your questions.

Thank you. We will now begin the question-and-answer session. Our first question is from Raimo Lenschow of Barclays. Please go ahead with your question.

Hey, this is Frank out for Raimo. Congrats on the results today. So large customer accounts have accelerated again this quarter; could you provide some more color behind that? Was this growing customers across that threshold or were you more landing new accounts above the million-dollar mark there?

This was growing customers across the board. Consistent with previous quarters, we had a similar mix in terms of upsells and new logos. What’s been really exciting though, is when you think about the 81 million-plus customers, that's up 29% year-over-year. We expanded at customers like Pepsi, Keystone, Samsung, Nestle, and the new logos like Hugo Boss and Land O’Lakes. Also, when we talk about Vector 2, we continued to add new logos like Ledger, CrossCountry Mortgage, and Everlane, and saw our partners step in and add even more value this particular quarter.

That's great to hear. I was wondering if you could give an update as well on the sales hiring and ramping? Is there any impact that we should consider also from the tighter labor market?

From a sales capacity perspective, we've inflected up, and you’re seeing the result of that inflection in terms of going from 19% to 27% to 32%. We've got the highest sales capacity we've ever had. As we look ahead in terms of Q4, we're seeing good pipeline and demand environment. As for the labor market, every company globally is contending with the great resignation. However, as we came out of COVID, we ensured we were inflecting up and believe we are in a good position with the capacity that we have.

One of the things we’ve been doing is streamlining the internal career progression within our go-to-market organization, where someone can start straight out of university into an XDR program, then into an SDR program, and finally into account executive. We believe this creates a good short- and medium-term strategy to address and get ahead of the labor shortage. Also, back to your question, Raimo, you are witnessing a market recognition that point solutions aren’t sustainable for all these modern channels. More modern channels and more customers are jumping onto channels like TikTok, with the realization that Sprinklr is probably the only viable third or fourth platform in the enterprise. We are establishing ourselves as the consolidator over the noise of point solutions, which I think IT teams would agree is needed.

Thank you very much and congrats on the very nice acceleration that you're seeing in the business. Ragy, I wanted to ask you, what do you think is underpinning the success that you've been having recently in some of these very large cloud-based contact centers or CCaaS, where I think you've had some wins that have involved thousands of agent seats? I'm wondering if the addition of some of the voice offerings from Amazon and Twilio might be creating a tailwind.

Mark, thank you for your questions. In customer care, we’ve been focusing significantly. As we’ve outlined in previous quarters and at our IPO, care is something we are putting a lot of focus on as a company. We got started with customer care in modern channels, so if someone is tweeting at you or messaging you on WhatsApp, Google, or Apple, that digital interaction shows up with plenty of context. With deep AI, we are able to understand what product and what problem the agent is best qualified to resolve. We are also innovating with concepts like guided path that allows agents to zero in on the resolution while integrating with traditional care solutions. The first-generation customer care clients are seeing benefits on both sides. They’re experiencing less dissatisfaction because we can intervene using AI in real-time with sentiment analysis and route to the right agent when necessary. They are seeing costs go down thanks to enhanced integration that we offer.

Yes, it does.

Let me pick up on the other part of your question. Last year, we generated positive income on a non-GAAP basis. We were free cash flow positive in both of the last two fiscal years. We know how to run an efficient business and make money. However, we raised capital to deploy some of it and accelerate our top-line growth. We laid out a plan to invest in our go-to-market machine and build out distribution. That’s exactly what we’ve been doing over the last 12 months. As Vivek mentioned, we’ve got more sales reps than ever before and more sales capacity than we’ve ever had. This is the reason you’re seeing that sustained acceleration on the top line. At this scale, we can start driving meaningful leverage into the model when we’re ready. We believe the approach we're taking right now will generate much more value for our shareholders in the long run.

Hey there, good afternoon. I appreciate you taking the questions. I guess first, I mean, Sprinklr has historically operated on an up-market focus, and I'm curious how your lighter touch self-service products fit or complement that vision. Are those customers currently outside your reach, or are they ways to get more enterprise customers trialing pieces of the platform and converting over to the broader platform, or maybe you can just expand on the vision there?

Thank you, Michael. The current strategy with the self-service trial products is to serve as an on-ramp for experiencing our brand and our enterprise suite. We have two vectors of growth. The first vector targets the biggest 10,000 companies globally, where we already have over 1,000 brands as customers. Looking ahead, we want to tap into the next 90,000 companies, as we think we are a great fit for organizations with approximately $100 million or more in revenue. Those 90,000 companies cannot be called on and demoed one-on-one. So our self-service products are a way to introduce our products and capabilities to the next vector that could ease them down the funnel more smoothly when we reach out for a sales contact. We believe there is a big company to be built, just in Vector 1, and as we expand our reach to Vector 2, we are seeding an opportunity in a much larger marketplace.

These are still companies that are very large with complex business needs. They have revenue between $100 million to $1 billion, and the goal of these light products is to actually accelerate and drive greater efficiency in our inbound demand generation efforts.

Thank you very much, guys, and congratulations on a strong quarter. I wanted to actually follow up on the prior question on Sprinklr Lite. Could you refresh us on what are the differences between the core Sprinklr product and the Sprinklr Lite product? Which components truly make it Lite? What initial feedback are you seeing from customers participating in beta? And when might we expect the beta transition to general availability?

Sure, thank you, Stan. Our approach with the Lite products is twofold. First, all the core capabilities are there, but we've stripped down aspects that really advanced large enterprise deployments need. Secondly, the Lite product typically has most of Sprinklr's powerful capabilities pre-configured, either by industry or by solution set. This setup makes it easy for someone to get started. Large companies prefer to have in-depth customization, tweaking, and tuning of their models. The Lite product serves as an entry point. Once they experience its efficacy, they realize that customization and the addition of more workspaces would really enhance their larger enterprise needs. We started with the Research product and announced the launch of our Care product in beta today. These two are designed to work together. For example, a one-star review is actually a 1-800 customer call when you connect research and listening to Care. The plan is to follow this with engagements and marketing, and we aim to have the unified front office available in a self-service mode within the next year. At that point, we will assess whether to use it as a revenue generator or merely as a pipeline demand generator.

To reiterate, this isn't a large lift for us. It’s truly just a subset of our existing products we have honed over the last ten-plus years. Therefore, there's no significant investment as you would expect if we targeted a completely different area of the business.

I'll close with what I always say. We're here to do three things. We believe there's a category emerging, which we call Unified Customer Experience Management, connecting to CRM and consolidating much of the operational heavy lifting. This platform will enable salespeople and customer care staff to perform better, and I believe we will be very strategic in this regard. The second goal is to culturally innovate within enterprise software, aspiring to build the world's most loved enterprise software company. This requires a different approach to our customer market and sales, and I am encouraged by our progress there. Lastly, we want to set the benchmark for employee culture, treating one another like family while obsessing over customers. I appreciate your interest. As always, this is a long-term endeavor, and every other short-term priority will serve this long-term vision. Thank you again, and please have a great evening.

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation and have a great evening.