Sprinklr Announces First Quarter Fiscal 2026 Results
'Our Q1 results reflect solid progress in our transformation to better serve our customers and partners. We are deeply focused on improving our execution and delivering business value to the brands we serve with our AI-native CXM platform. We also generated record free cash flow in the quarter,' said Rory Read, Sprinklr President and CEO. Read continued, 'While we recognize FY 26 is a transitional year with important work still ahead to set up FY 27 and beyond, we believe we are well positioned to execute against our strategy and to make every customer experience extraordinary.'
First Quarter Fiscal 2026 Financial Highlights
Revenue: Total revenue for the first quarter was $205.5 million, up from $196.0 million one year ago, an increase of 5% year-over-year. Subscription revenue for the first quarter was $184.1 million, up from $177.4 million one year ago, an increase of 4% year-over-year.
Operating (Loss) Income and Margin*: First quarter GAAP operating loss was $1.8 million, compared to operating income of $5.7 million one year ago. Non-GAAP operating income was $36.7 million, compared to non-GAAP operating income of $20.9 million one year ago. For the first quarter, GAAP operating margin was (1)% and non-GAAP operating margin was 18% compared to GAAP operating margin of 3% and non-GAAP operating margin of 11% in the first quarter of fiscal year 2025.
Net (Loss) Income Per Share*: First quarter GAAP net loss per share, diluted was $(0.01), compared to net income per share, diluted of $0.04 in the first quarter of fiscal year 2025. Non-GAAP net income per share, diluted for the first quarter was $0.12, compared to non-GAAP net income per share, diluted of $0.09 in the first quarter of fiscal year 2025.
Cash, Cash Equivalents and Marketable Securities: Total cash, cash equivalents and marketable securities as of April 30, 2025 were $570.2 million.
* Free cash flow, non-GAAP operating income, non-GAAP operating margin and non-GAAP net income per share are non-GAAP financial measures defined under 'Non-GAAP Financial Measures,' and are reconciled to net cash provided by operating activities, operating (loss) income, net (loss) income or net (loss) income per share, as applicable, the closest comparable GAAP measure, at the end of this release.
Financial Outlook
Sprinklr is providing the following guidance for the second fiscal quarter ending July 31, 2025:
Subscription revenue between $184 million and $185 million.
Total revenue between $205 million and $206 million.
Non-GAAP operating income between $33.5 million and $34.5 million.
Non-GAAP net income per share of approximately $0.10 assuming 270 million diluted weighted-average shares outstanding.
Sprinklr is providing the following guidance for the full fiscal year ending January 31, 2026:
Subscription revenue between $741 million and $743 million.
Total revenue between $825 million and $827 million.
Non-GAAP operating income between $129 million and $131 million.
Non-GAAP net income per share between $0.39 and $0.40, assuming 277 million diluted weighted-average shares outstanding.
Non-GAAP Financial Measures
In addition to our results determined in accordance with U.S. GAAP, we believe that the following non-GAAP financial measures associated with our condensed consolidated statements of operations are useful in evaluating our operating performance:
Non-GAAP gross profit and non-GAAP gross margin;
Non-GAAP operating income and non-GAAP operating margin; and
Non-GAAP net income and non-GAAP net income per share.
We define these non-GAAP financial measures as the respective U.S. GAAP measures, excluding, as applicable, stock-based compensation expense and related charges, amortization of stock-based compensation expense associated with capitalized internal use software, amortization of acquired intangible assets, release of U.S. federal and state valuation allowances, and the estimated tax effect related to the non-GAAP items, as well as other one-time charges, such as restructuring charges, costs associated with acquisitions, non-recurring litigation costs and facility exit costs. We believe that it is useful to exclude these items in order to better understand the long-term performance of our core business and to facilitate comparison of our results to those of peer companies over multiple periods.
In addition, we believe that free cash flow is also a useful non-GAAP financial measure. Free cash flow is defined as net cash provided by operating activities less cash used for purchases of property and equipment and capitalized internal-use software. We believe that free cash flow is a useful indicator of liquidity as it measures our ability to generate cash, or our need to access additional sources of cash, to fund operations and investments. We expect our free cash flow to fluctuate in future periods with changes in our operating expenses and as we continue to invest in our growth. We typically experience higher billings in the fourth quarter compared to other quarters and experience higher collections of accounts receivable in the first half of the year, which results in a decrease in accounts receivable in the first half of the year.
However, non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by U.S. GAAP and are not prepared under any comprehensive set of accounting rules or principles. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. As a result, our non-GAAP financial measures are presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for our condensed consolidated financial statements presented in accordance with U.S. GAAP.
Sprinklr has not reconciled its financial outlook expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their respective most directly comparable U.S. GAAP measures as a result of the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future U.S. GAAP financial results. Accordingly, reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Sprinklr's results computed in accordance with U.S. GAAP.
Conference Call Information
Sprinklr will host a conference call today, June 4, 2025, to discuss first quarter fiscal 2026 financial results, as well as the second quarter and full year fiscal 2026 outlook, at 8:30 a.m. Eastern Time, 5:30 a.m. Pacific Time. Investors are invited to join the webcast by visiting: https://investors.sprinklr.com/. To access the call by phone, dial 877-459-3955 (domestic) or 201-689-8588 (international). The conference ID number is 13753882. The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 90 days.
About Sprinklr, Inc.
Sprinklr is a leading enterprise software company for all customer-facing functions. With advanced AI, Sprinklr's unified customer experience management (Unified-CXM) platform helps companies deliver human experiences to every customer, every time, across any modern channel. Headquartered in New York City with employees around the world, Sprinklr works with more than 1,900 valuable enterprises — global brands like Microsoft, P&G, Samsung and 60% of the Fortune 100. Sprinklr is redefining the world's ability to make every customer experience extraordinary.
Forward-Looking Statements
This press release contains express and implied 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the second quarter and full year fiscal 2026 and the impact of, and our ability to execute, our corporate strategies and business initiatives. In some cases, you can identify forward-looking statements by terms such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'project,' 'will,' 'would,' 'should,' 'could,' 'can,' 'predict,' 'potential,' 'target,' 'explore,' 'continue,' or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including: our rapid growth may not be indicative of our future growth; our revenue growth rate has fluctuated in prior periods; our ability to achieve or maintain profitability; we derive the substantial majority of our revenue from subscriptions to our Unified-CXM platform; our ability to manage our growth and organizational change; the market for Unified-CXM solutions is rapidly evolving; our ability to attract new customers in a manner that is cost-effective and assures customer success; our ability to attract and retain customers to use our products; our ability to drive customer subscription renewals and expand our sales to existing customers; our ability to effectively develop platform enhancements, introduce new products or keep pace with technological developments; the market in which we participate is new and rapidly evolving and our ability to compete effectively; our business and growth depend in part on the success of our strategic relationships with third parties; our ability to develop and maintain successful relationships with partners who provide access to data that enhances our Unified-CXM platform's artificial intelligence capabilities; the majority of our customer base consists of large enterprises, and we currently generate a significant portion of our revenue from a relatively small number of enterprises; our investments in research and development; our ability to expand our sales and marketing capabilities; our sales cycle with enterprise and international clients can be long and unpredictable; certain of our results of operations and financial metrics may be difficult to predict; our ability to maintain data privacy and data security; we rely on third-party data centers and cloud computing providers; the sufficiency of our cash and cash equivalents to meet our liquidity needs; our ability to comply with modified or new laws and regulations applying to our business; our ability to successfully enter into new markets and manage our international expansion; the attraction and retention of qualified employees and key personnel; our ability to effectively manage our growth and future expenses and maintain our corporate culture; our ability to maintain, protect, and enhance our intellectual property rights; unstable economic, political and market conditions, including as a result of public heath crises, fluctuations in inflation and interest rates, the imposition of tariffs in the U.S. and abroad, or geopolitical actions, such as war and terrorism or the perception that such hostilities may be imminent; and our ability to successfully defend litigation brought against us. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are or will be discussed in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025, filed with the SEC on March 21, 2025, under the caption 'Risk Factors,' and in other filings that we make from time to time with the SEC. Forward-looking statements speak only as of the date the statements are made and are based on information available to Sprinklr at the time those statements are made and/or management's good faith belief as of that time with respect to future events. Sprinklr assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.
Key Business Metrics
RPO. RPO, or remaining performance obligations, represents contracted revenues that have not yet been recognized, and include deferred revenue and amounts that will be invoiced and recognized in future periods.
cRPO. cRPO, or current RPO, represents contracted revenues that have not yet been recognized, and include deferred revenue and amounts that will be invoiced and recognized in the next 12 months.
Sprinklr, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
Three Months Ended April 30,
2025
2024
Revenue:
Subscription
$
184,127
$
177,363
Professional services
21,373
18,595
Total revenue
205,500
195,958
Costs of revenue:
Costs of subscription (1)
42,186
32,570
Costs of professional services (1)
20,445
18,555
Total costs of revenue
62,631
51,125
Gross profit
142,869
144,833
Operating expense:
Research and development (1)
22,811
22,539
Sales and marketing (1)
71,071
87,484
General and administrative (1)
34,429
29,101
Restructuring (1)
16,313
—
Total operating expense
144,624
139,124
Operating (loss) income
(1,755
)
5,709
Other income, net
6,930
7,500
Income before provision for income taxes
5,175
13,209
Provision for income taxes
6,743
2,575
Net (loss) income
$
(1,568
)
$
10,634
Net (loss) income per share, basic
$
(0.01
)
$
0.04
Weighted average shares used in computing net (loss) income per share, basic
256,647
271,664
Net (loss) income per share, diluted
$
(0.01
)
$
0.04
Weighted average shares used in computing net (loss) income per share, diluted
256,647
284,032
(1) Includes stock-based compensation expense, net of amounts capitalized, as follows:
Expand
Three Months Ended April 30,
(in thousands)
2025
2024
Costs of subscription
$
265
$
283
Costs of professional services
392
317
Research and development
3,886
2,574
Sales and marketing
6,295
5,604
General and administrative
9,576
5,077
Restructuring
866
—
Stock-based compensation expense, net of amounts capitalized
$
21,280
$
13,855
Expand
Sprinklr, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended April 30,
2025
2024
Cash flow from operating activities:
Net (loss) income
$
(1,568
)
$
10,634
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization expense
4,679
4,508
Provision for credit losses
1,972
1,038
Stock-based compensation, net of amounts capitalized
21,280
13,855
Non-cash lease expense
1,912
1,949
Deferred income taxes
2,839
(339
)
Net amortization/accretion on marketable securities
(999
)
(4,452
)
Other non-cash items, net
7
79
Changes in operating assets and liabilities:
Accounts receivable
81,199
78,646
Prepaid expenses and other current assets
(4,155
)
(15,824
)
Other non-current assets
2,721
1,011
Accounts payable
(843
)
(15,103
)
Operating lease liabilities
(1,945
)
(1,557
)
Accrued expenses and other current liabilities
(21,284
)
(29,125
)
Deferred revenue
(1,867
)
(3,665
)
Other liabilities
(172
)
57
Net cash provided by operating activities
83,776
41,712
Cash flow from investing activities:
Purchases of marketable securities
(236,676
)
(134,172
)
Proceeds from sales and maturities of marketable securities
131,973
153,097
Purchases of property and equipment
(289
)
(2,545
)
Capitalized internal-use software
(2,786
)
(2,977
)
Purchases of intangibles
(262
)
—
Net cash (used in) provided by investing activities
(108,040
)
13,403
Cash flow from financing activities:
Proceeds from issuance of common stock upon exercise of stock options
2,847
9,642
Payments for repurchase of Class A common shares
—
(99,984
)
Net cash provided by (used in) financing activities
2,847
(90,342
)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash
2,985
(1,231
)
Net change in cash, cash equivalents and restricted cash
(18,432
)
(36,458
)
Cash, cash equivalents and restricted cash at beginning of period
153,533
172,429
Cash, cash equivalents and restricted cash at end of period
$
135,101
$
135,971
Expand
Sprinklr, Inc.
Reconciliation of Non-GAAP Measures
(in thousands)
(unaudited)
Three Months Ended April 30,
2025
2024
Non-GAAP gross profit and non-GAAP gross margin:
U.S. GAAP gross profit
$
142,869
$
144,833
Stock-based compensation expense and related charges (1)
670
607
Amortization of stock-based compensation expense - capitalized internal-use software
649
492
Non-GAAP gross profit
$
144,188
$
145,932
Gross margin
70
%
74
%
Non-GAAP gross margin
70
%
74
%
Non-GAAP operating income:
U.S. GAAP operating (loss) income
$
(1,755
)
$
5,709
Stock-based compensation expense and related charges (2)
20,764
14,624
Amortization of acquired intangible assets
—
50
Amortization of stock-based compensation expense - capitalized internal-use software
649
492
Non-recurring litigation costs (3)
769
—
Restructuring costs (4)
16,313
—
Non-GAAP operating income
$
36,740
$
20,875
Operating margin
(1
)%
3
%
Non-GAAP operating margin
18
%
11
%
Free cash flow:
Net cash provided by operating activities
$
83,776
$
41,712
Purchase of property and equipment
(289
)
(2,545
)
Capitalized internal-use software
(2,786
)
(2,977
)
Free cash flow
$
80,701
$
36,190
(1) Employer payroll tax related to stock-based compensation for the periods ended April 30, 2025 and 2024 was immaterial as it relates to the impact to gross profit.
(2) Includes $0.4 million and $0.8 million of employer payroll tax related to stock-based compensation expense for the three months ended April 30, 2025 and 2024, respectively.
(3) Relates to costs associated with litigation that arise outside of the ordinary course of business.
(4) Includes $0.7 million of employer payroll tax related to the February 2025 restructuring for the three months ended April 30, 2025.
Expand
Three Months Ended April 30,
2025
2024
(in thousands)
Per Share-Basic
Per Share-Diluted
(in thousands)
Per Share-Basic
Per Share-Diluted
Non-GAAP net income reconciliation to net (loss) income
Net (loss) income
$
(1,568
)
$
(0.01
)
$
(0.01
)
$
10,634
$
0.04
$
0.04
Add:
Stock-based compensation expense and related charges (1)
20,764
0.09
0.08
14,624
0.05
0.05
Amortization of acquired intangible assets
—
—
—
50
—
—
Amortization of stock-based compensation expense - capitalized internal-use software
649
—
—
492
—
—
Income tax expense (2)
(4,611
)
(0.01
)
(0.01
)
—
—
—
Non-recurring litigation costs (3)
769
—
—
—
—
—
Restructuring costs (4)
16,313
0.06
0.06
—
—
—
Total additions, net
33,884
0.14
0.13
15,166
0.05
0.05
Non-GAAP net income
$
32,316
$
0.13
$
0.12
$
25,800
$
0.09
$
0.09
Weighted-average shares outstanding
256,647
267,528
271,664
284,032
(1) Includes $0.4 million and $0.8 million of employer payroll tax related to stock-based compensation expense for the three months ended April 30, 2025 and 2024, respectively.
(2) Represents the Company's current and deferred income tax expense commensurate with the non-GAAP measure of profitability using a non-GAAP tax rate of 26% for the three months ended April 30, 2025. The Company uses an annual projected tax rate in its computation of the non-GAAP income tax provision, and excludes the direct impact of stock-based compensation, employer tax costs related to stock-based compensation, intangible amortization expense, amortization of stock-based compensation expense - capitalized internal-use software, non-recurring litigation costs and restructuring costs.
(3) Relates to costs associated with litigation that arise outside of the ordinary course of business.
(4) Includes $0.7 million of employer payroll tax related to the February 2025 restructuring for the three months ended April 30, 2025.
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our insurance and reinsurance products depend on assumptions related to mortality, morbidity, lapsation, investment returns and expenses, and significant deviations in experience could negatively affect their financial condition and results of operations; our reinsurance program involves risks because we remain liable with respect to the liabilities ceded to reinsurers if the reinsurers fail to meet the obligations assumed by them; there is no guarantee that we will be able to obtain reinsurance on favorable terms and at favorable rates in the future; our failure to comply with the terms of our current or future credit facilities or agreements, the indenture for NCNY's $300 million aggregate principal amount of 7.45% senior unsecured notes due 2032, the indenture for NNY's $175 million aggregate principal amount of 7.15% surplus notes due 2034 or the Indenture, or our undergoing a change of control could trigger prepayment obligations or other remedies in favor of the holders of our indebtedness or preferred equity, which could materially adversely affect our business, results of operations and financial condition; our repurchase agreements and reverse repurchase agreements subject us to potential liquidity and other risks; our dependence on our membership in the Federal Home Loan Bank of Boston subjects us to potential liquidity and other risks; our Insurance Subsidiaries may require additional capital to support their business and sustained future growth, which may not be available when needed or may be available only on unfavorable terms, and to comply with regulatory developments that may affect capital requirements; new accounting rules or changes to existing accounting rules could negatively impact our Insurance Subsidiaries' businesses; we may experience volatility in generally accepted accounting principles net income primarily because of the application of fair value accounting to our derivative instruments; we estimate gross profits in the course of our business, and if our estimates change significantly, we may be required to expense our deferred policy acquisition costs and value of business acquired in an accelerated manner, which would reduce our profitability; any failure to protect the confidentiality of client information, including as a result of human error or failure in our cybersecurity, could adversely affect our reputation and have a material adverse effect on our business, financial condition and results of operations and other aspects of our business; if we do not manage our growth effectively, our financial performance could be adversely affected; our historical growth rates may not be indicative of our future growth; the loss of key employees could adversely affect our operations; we depend on the performance of our third-party service providers, and their failure to perform in a satisfactory manner could adversely affect our business; we face competition from companies that have greater financial resources, broader arrays of products, higher ratings and stronger financial performance, which may impair our ability to retain existing customers, attract new customers, maintain or expand our distribution sources and maintain our profitability and financial condition; our ability to consummate acquisitions and block reinsurance transactions on economically advantageous terms acceptable to us in the future is unknown; the Insurance Subsidiaries may not be able to invest in the types of portfolio investments we have contemplated and, therefore, may be unable to generate the returns we currently expect; artificial intelligence could increase competitive, operational, legal and regulatory risk to our business in ways that we cannot predict; if we are unable to attract and retain national marketing organizations, sales of our products may be reduced; our products and services are sold through intermediaries, and the misrepresentation of our products or services or a failure to properly perform services or the misrepresentation of our products or services could have an adverse effect on our revenues and income and could expose us to liability or litigation; controls and business continuity plans surrounding our information technology could fail or security could be compromised, which could damage our business and adversely affect our financial condition and results of operations; employee and agent error and misconduct may be difficult to detect and prevent and may result in significant losses; the Insurance Subsidiaries' business operations depend on their abilities to appropriately distribute, execute and administer their policies and claims; the Insurance Subsidiaries must find ways to maintain effective control over growing expenses; a pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide, and its variants, could adversely affect our business, investments and financial condition; catastrophic event risks such as terrorist attacks, floods, severe storms or hurricanes or computer cyber-terrorism could have a material adverse effect on our business; a downgrade or potential downgrade in our Insurance Subsidiaries' credit or financial strength ratings could harm our competitive position; financial services companies are frequently the targets of litigation, including class action litigation, which could result in substantial defense costs, settlements and judgments; changes in state and federal regulation, including new capital requirements, may affect our financial condition, liquidity and results of operations and other aspects of our business in ways that we cannot predict; PHL Variable Insurance Company, one of our former subsidiaries, is involved in an ongoing rehabilitation, which could adversely affect our reputation, business, financial condition and results of operations; we face a risk of noncompliance with and enforcement action under anti-money laundering statutes and regulations; state treasury and insurance department initiatives with respect to unclaimed property may result in liabilities for our Insurance Subsidiaries if we or our reinsurers are not compliant; our business may be adversely affected by adverse publicity or increased governmental and regulatory actions with respect to us, other companies or the financial services industry in general; the financial services industry faces great uncertainty from a regulatory perspective; risks from various National Association of Insurance Commissioners initiatives could impact profitability and capital; the Insurance Subsidiaries may face increased scrutiny from their local regulators; the Insurance Subsidiaries may face regulatory constraints on the amount, if any, of dividends permitted to be paid to Nassau; the impact of potential legislation limiting cessions by onshore insurers to offshore affiliated reinsurers or the imposition of greater tax burdens on such cessions; regulatory constraints on intercompany transactions; possible regulatory approval constraints on the development of new products; changes in federal income taxation laws, including reduction in individual income tax rates or modification to BEAT, may adversely affect sales of our Insurance Subsidiaries' products and profitability; our ability to use our net operating losses to offset future taxable income may be subject to certain limitations; our substantial level of indebtedness could adversely affect our financial condition and prevent us from making payments on the 2030 Notes and our other debt obligations; if we do not generate sufficient cash flows, we may be unable to service all of our indebtedness; we are a holding company and depend on our subsidiaries to generate sufficient cash flow to meet our debt service obligations, including payments on the 2030 Notes; the 2030 Notes will be unsecured and will be effectively subordinated to any secured indebtedness we incur; claims of holders of the 2030 Notes will be structurally subordinated to claims of creditors of certain of our subsidiaries that will not guarantee the 2030 Notes; the guarantees by Nassau, Nassau Insurance Group Holdings, L.P., The Nassau Companies, Nassau Asset Management LLC, and NRH, L.P., jointly and severally, on a senior unsecured basis pursuant to the Indenture (the 'Note Guarantees') may not be enforceable (or could be voidable) because of fraudulent transfer or conveyance laws and, as a result, you may be required to return payments received by you in respect of the Note Guarantees; our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly; we may not be able to satisfy our obligations to holders of the 2030 Notes upon a change of control; the 2030 Notes do not restrict our ability to incur additional debt or prohibit us from taking other action that could negatively impact holders of the 2030 Notes; if the 2030 Notes become rated investment grade by each of S&P Global Ratings and Moody's Investors Service, Inc., certain covenants will not be applicable and the Note Guarantees may be released; the Indenture will contain cross-default or cross-acceleration provisions that may cause all of the 2030 Notes to become immediately due and payable because of a default under an unrelated debt instrument; the Indenture and the terms of our other indebtedness will impose significant operating and financial restrictions, which may prevent us from capitalizing on business opportunities and may impede our ability to refinance our indebtedness; we may designate certain of our subsidiaries as unrestricted, in which case they would not be subject to the restrictive covenants in the Indenture; there is no public market for the 2030 Notes, and you cannot be sure that an active trading market will develop for them; The Nassau Companies of New York may redeem the 2030 Notes prior to the maturity date, and you may not be able to reinvest in a comparable security; the credit ratings assigned to The Nassau Companies of New York, Nassau and to the 2030 Notes may not reflect all risks of an investment in the 2030 Notes, and an adverse rating of the 2030 Notes may cause their trading price to decline; an increase in market interest rates could result in a decrease in the value of the 2030 Notes; we are not providing all of the information that would be required if this Offering were being registered with the Securities and Exchange Commission; we may be unable to repay or repurchase the 2030 Notes at maturity; and our shareholders' interests may conflict with yours as a Noteholder. The foregoing summary of important factors is not exhaustive. The forward-looking statements should be considered in light of these risks and uncertainties. All forward-looking statements in this release are based solely on information available to us on the date of this release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law. Please refer to the 'Risk Factors' section of the Offering Circular for a discussion of important factors that should be considered before investing in the 2030 Notes.
Business Wire
39 minutes ago
- Business Wire
FHLBank Chicago Makes $3 Million Available for Community First
CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today opened its applications for the 2025 Community First ® Developer Program (Developer Program). Now in its fourth year, the program provides grants to organizations supporting career development opportunities in the affordable housing development industry across Illinois and Wisconsin. In 2025, FHLBank Chicago will award up to $3 million through its financial institution members, with individual grant amounts ranging from $50,000 to $250,000. Applications are open now through Friday, August 8, 2025, at 5:00 p.m. CT. 'The Developer Program is designed to strengthen the pipeline of talent shaping affordable housing in our district,' said Katie Naftzger, Senior Vice President and Community Investment Officer, FHLBank Chicago. 'By partnering with our member institutions, we can help affordable housing development organizations throughout Illinois and Wisconsin bring new and emerging professionals into this vital field.' Last year, Northpointe Development II Corporation based in Oshkosh, Wisc., received a $250,000 Developer Program grant in partnership with FHLBank Chicago member First Business Bank to fund two full-time fellowship positions. 'With support from FHLBank Chicago's Developer Program, we've been able to provide meaningful, full-time roles for individuals who are passionate about building stronger communities but may not have had access to traditional pathways into development,' said Sean O'Brien, Principle at Northpointe Development. 'These roles offer real-world experience across every stage of the development process—from financing and design to construction and community engagement.' Launched in 2022, the Developer Program was shaped by FHLBank Chicago's Community Investment Advisory Council to address the need for greater access to affordable housing career pathways. The program offers funding to support compensation for internships or fellowships that provide meaningful professional experience in the affordable housing development field. Eligible beneficiary organizations include nonprofit and for-profit development firms looking to add talent, as well as organizations with programs or initiatives that advance career opportunities in the industry. Members may sponsor up to three applications totaling no more than $750,000 in combined requests. For additional information about the Developer Program and how to apply, visit the Developer Program webpage. About the Federal Home Loan Bank of Chicago FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit 'Community First' is a registered trademark of the Federal Home Loan Bank of Chicago.
