Smartsheet Stock Price, News & Analysis

Smartsheet (NYSE: SMAR) announced that CFO Pete Godbole will present at Citi's 2022 Global Technology Conference on September 8, 2022, at 9:45 a.m. ET in New York. A live webcast will be available on Smartsheet's investor website, and a replay will be accessible until December 8, 2022. Smartsheet is known as the enterprise platform for dynamic work, aiding organizations in innovation and efficiency.

Smartsheet (NYSE: SMAR) has acquired Outfit, a leader in design automation, to enhance its Brandfolder platform. This strategic move aims to empower users with advanced templating and creative automation tools, enabling efficient production of on-brand marketing materials. The acquisition, funded through existing cash, is expected to be neutral to Smartsheet’s fiscal 2023 earnings but accretive afterward. Mark Mader, CEO of Smartsheet, emphasized the value of integrating Outfit’s capabilities to strengthen their position in digital asset management.

Smartsheet Inc. (SMAR) reported strong second-quarter fiscal 2023 results with revenues reaching $186.7 million, up 42% year-over-year. Calculated billings increased by 44% to $205.6 million. However, the company faced a GAAP net loss of $62.3 million, compared to a loss of $44.2 million in the same quarter last year. Positive trends include a 131% dollar-based net retention rate and a notable increase in high-value customers. For Q3, Smartsheet projects revenues between $193 million and $194 million, indicating growth of 33% to 34% year-over-year.

Smartsheet (NYSE: SMAR) will host its annual ENGAGE conference from September 19-22, 2022, at the Seattle Convention Center. The event will showcase updates to the Smartsheet platform and feature guest speakers like McLaren Racing CEO Zak Brown. Attendees can participate in over 75 breakout sessions covering essential topics such as project management and security. Additionally, participants will have the opportunity to earn certifications in core product usage and project management, aimed at enhancing user skills and organizational efficiency.

Smartsheet (NYSE: SMAR) has appointed Dennis Durkin to its board of directors, where he will also serve on the Audit Committee. Durkin, former CFO of Activision Blizzard and COO of Microsoft’s Interactive Entertainment Business, brings extensive experience in scaling digital businesses. His appointment aligns with Smartsheet's ongoing growth, marked by significant enterprise deployments. CEO Mark Mader expressed confidence in Durkin's ability to enhance financial strategies and support long-term growth.

Smartsheet Inc. (NYSE: SMAR) will release its financial results for Q2 of fiscal 2023 on September 1, 2022, after market close. The results cover the period ending July 31, 2022. A conference call for discussion will follow at 4:30 p.m. ET, accessible via dial-in or webcast on the Smartsheet investor relations site. A replay will be available for one week post-event. For more information, visit Smartsheet's investor website.

Smartsheet Inc. (NYSE: SMAR) announced its Q1 fiscal 2023 results, reporting a 44% year-over-year revenue growth to $168.3 million. However, the company faced a GAAP net loss of $70.5 million compared to $37.1 million in Q1 fiscal 2022, with an operating loss of $69.8 million. Cash flow metrics also worsened, with negative net operating cash flow of $5.1 million. The company anticipates second-quarter revenue between $180 million and $181 million, indicating a 37% year-over-year growth.