Smartsheet Stock Price, News & Analysis

Smartsheet Inc. (NYSE: SMAR) reported a strong third quarter for fiscal 2021, achieving $98.9 million in total revenue, marking a 38% year-over-year increase. Subscription revenue rose 41% to $90.9 million. Despite a GAAP operating loss of $35.9 million, a reduction from 45% of total revenue last year, non-GAAP losses improved significantly. The company expected fourth-quarter revenue between $102 million and $103 million, reflecting continued growth. Additionally, Smartsheet announced Pete Godbole as the new CFO.

Smartsheet (NYSE: SMAR) announced a partnership with San Diego State University (SDSU) and OCMI to manage large capital construction projects. SDSU is undertaking the largest capital program within the California State University system, using Smartsheet to enhance project efficiency and collaboration. The platform allows for customization, automates processes, and provides a comprehensive view of project data. This initiative includes the development of the 135-acre Mission Valley site, featuring a 35,000-seat stadium and various community facilities.

Smartsheet (NYSE: SMAR) has been recognized as a leader in The Forrester Wave™: Collaborative Work Management Tools, Q4 2020 report. The report assessed nine providers against 32 criteria, noting that Smartsheet scored the highest possible ratings in 14 categories, including security and product vision. The report highlights Smartsheet's strong position in addressing the evolving demand for dynamic work management in enterprises. Gene Farrell, Chief Product Officer, emphasized that this recognition validates Smartsheet's value in helping organizations adapt to future work environments.

Smartsheet (NYSE: SMAR) has partnered with Burton Snowboards to enhance marketing operations through its enterprise platform. Burton sought a more efficient solution to manage incoming marketing requests, replacing a fragmented system. Smartsheet's platform enables improved visibility and streamlined processes, helping Burton's team more effectively track and distribute work. This collaboration promises to accelerate campaign execution and align cross-departmental efforts, ultimately supporting Burton's innovative marketing initiatives.

Smartsheet (NYSE: SMAR) has announced its financial results for Q3 of fiscal year 2021, which ended on October 31, 2020. The results will be disclosed after U.S. market close on December 7, 2020. A conference call hosted by Smartsheet executives to discuss the results is scheduled for the same day at 4:30 p.m. ET. Investors can access the conference call at (877) 274-9243 and view the webcast on the company's investor relations website. A replay of the webcast will be available two hours post-event.

Smartsheet (NYSE: SMAR) has launched a dashboard for fans to follow British solo sailor Pip Hare during her Vendée Globe race. The dashboard provides real-time updates on Hare's position, sailing conditions, and health metrics. It aims to connect both sailing enthusiasts and casual fans with the 24,000-mile challenge. Anna Griffin, the Chief Marketing Officer, emphasized the inspiring nature of Hare's journey. Smartsheet is not only sponsoring Hare but also utilizing its platform to optimize race management and business operations.

Smartsheet (NYSE: SMAR) has announced that UK-based Specialist Project Integration (SPI) has joined its Aligned Partner Program as a Platinum Partner. This collaboration aims to provide an integrated solution to enhance decision-making and business processes. As a former customer, SPI leverages its expertise in utilizing Smartsheet to improve productivity and minimize administrative work. Notably, SPI assisted Network Rail in saving over 1,600 hours monthly on a £250 million project by integrating data workflows through Smartsheet, showcasing the platform's effectiveness in large-scale projects.

Smartsheet (NYSE: SMAR) has been chosen by Mimecast (NASDAQ: MIME) to enhance its enterprise initiatives and digital transformation processes. Mimecast's Director of Enterprise Project Management Office, Phil Yennaco, stated that Smartsheet provides the structure necessary for scaling strategic initiatives. The collaboration aims to improve efficiency and customer service visibility across departments, aligning with Mimecast's goal of innovation in security solutions. Both companies emphasize the importance of real-time insights for informed decision-making.