Smartsheet Stock Price, News & Analysis

Smartsheet (NYSE: SMAR) has appointed Mike Gregoire as the new board chair, effective March 9, 2023, succeeding Geoffrey Barker. Gregoire, a board member since 2019, is recognized for his strategic expertise in technology. CEO Mark Mader noted Gregoire's contributions to enhancing strategies for Smartsheet stakeholders. This leadership change comes as Smartsheet continues to receive accolades for customer satisfaction and innovation from industry leaders like G2 and Fast Company. Gregoire's background includes serving as CEO of CA technologies and being a partner at Brighton Park Capital.

Smartsheet Inc. reported strong financial results for Q4 FY23, with total revenue of $212.3 million, up 35% year over year. Subscription revenue increased by 37% to $198.9 million. The company achieved positive free cash flow of $16.4 million in Q4, contributing to a full-year free cash flow of $9.8 million. Despite a GAAP net loss of $(42.7) million, improvements were noted in non-GAAP metrics, such as a net income of $9.9 million. For FY24, Smartsheet expects revenue growth of 23%-24% and free cash flow guidance of $110 million.

Smartsheet (NYSE:SMAR) has been recognized as a leader in G2's 2023 Best Software Awards, ranking #5 in the Best Products for Enterprise category. As the only collaborative work management platform in the top 50, Smartsheet continues to empower teams across over 90% of Fortune 100 companies, including GM and Pfizer. With a focus on project management, marketing, and strategic transformation, Smartsheet provides robust enterprise capabilities to enhance productivity and innovation.

CEO Mark Mader emphasized the importance of user reviews in validating the platform's transformational value.

Smartsheet sponsors the first Seattle Kraken artist residency, featuring Matika Wilbur's exhibition, The Salmon People, from February 16 to March 13, 2023, at Climate Pledge Arena. The installation highlights critical issues affecting salmon habitats, emphasizing the connection between traditional Coast Salish culture and environmental conservation. This residency aims to elevate Native American art and storytelling, reflecting Smartsheet's commitment to community engagement through sports sponsorships. The initiative also supports the Sponsor X program focusing on cultural connections, STEM, and art integration.

Smartsheet Inc. (NYSE: SMAR) will announce its Q4 and full fiscal year 2023 financial results on March 14, 2023, after U.S. financial markets close. A conference call will follow at 4:30 p.m. ET to discuss the results, accessible via dial-in numbers (888) 440-6385 for U.S. callers and (646) 960-0180 for international callers. The conference ID is 7672979. A replay will be available two hours post-event for seven days. For more information, visit Smartsheet's investor relations website.