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Smartsheet Inc. Announces First Quarter Fiscal Year 2023 Results

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  • First quarter total revenue grew 44% year over year to $168.3 million
  • First quarter net operating cash flow was negative $5.1 million, net free cash flow was negative $9.1 million

 

BELLEVUE, Wash.--(BUSINESS WIRE)-- Smartsheet Inc. (NYSE: SMAR), the enterprise platform for dynamic work, today announced financial results for its first fiscal quarter ended April 30, 2022.

“Our global team delivered a solid start to the year,” said Mark Mader, President and CEO of Smartsheet. “New customers selected Smartsheet at an accelerating rate, as evidenced by record net new plans added and bookings achieved in the first quarter. We continue to see significant expansion, especially in the enterprise tier, as customers experience the powerful impact our platform has across their organizations. We remain focused on investing thoughtfully and strategically to capitalize on the significant market opportunity in front of us and deliver innovation that helps our customers transform how they work.”

First Quarter Fiscal 2023 Financial Highlights

  • Revenue: Total revenue was $168.3 million, an increase of 44% year over year. Subscription revenue was $155.3 million, an increase of 44% year over year. Professional services revenue was $13.0 million, an increase of 44% year over year.
  • Operating Loss: GAAP operating loss was $69.8 million, or 41% of total revenue, compared to GAAP operating loss of $38.4 million, or 33% of total revenue, in the first quarter of fiscal 2022. Non-GAAP operating loss was $23.1 million, or 14% of total revenue, compared to non-GAAP operating loss of $12.0 million, or 10% of total revenue, in the first quarter of fiscal 2022.
  • Net Loss: GAAP net loss was $70.5 million, compared to GAAP net loss of $37.1 million in the first quarter of fiscal 2022. GAAP net loss per share was $0.55, compared to GAAP net loss per share of $0.30 in the first quarter of fiscal 2022. Non-GAAP net loss was $23.7 million, compared to non-GAAP net loss of $10.7 million in the first quarter of fiscal 2022. Non-GAAP net loss per share was $0.18, compared to non-GAAP net loss per share of $0.09 in the first quarter of fiscal 2022.
  • Cash Flow: Net operating cash flow was negative $5.1 million, compared to net operating cash flow of negative $3.0 million in the first quarter of fiscal 2022. Net free cash flow was negative $9.1 million, compared to net free cash flow of negative $8.2 million in the first quarter of fiscal 2022.

First Quarter Fiscal 2023 Business Highlights

  • Dollar-based net retention rate was 133%
  • Calculated billings were $180.1 million, representing year-over-year growth of 36%
  • The number of all customers with annualized contract values ("ACV") of $100,000 or more grew to 1,108, an increase of 68% year over year
  • The number of all customers with ACV of $50,000 or more grew to 2,516, an increase of 50% year over year
  • The number of all customers with ACV of $5,000 or more grew to 15,879, an increase of 25% year over year
  • Average ACV per domain-based customer increased to $7,210, an increase of 32% year over year
  • Released significant new integration capabilities with Brandfolder, enhancing the functionality between Smartsheet and Brandfolder to help marketers and others with high volumes of digital assets better manage their work, content, and people from ideation to execution
  • Released Project Assistant, a new onboarding experience that guides users through the creation of a new project so they can get started managing their work in Smartsheet with a few simple inputs
  • Smartsheet was named a Strong Performer in its first appearance in The Forrester Wave™: Strategic Portfolio Management Tools, Q1 2022 report and received the highest possible scores in the criteria of innovation roadmap and number of live installations
  • Brandfolder by Smartsheet was named a Strong Performer in its first appearance in The Forrester Wave™: Digital Asset Management for Customer Experience, Q1 2022 report and received the highest possible scores in the criteria of scalability, intelligent content generation, portals, creative toolset integration, and partner ecosystem

The section titled "Use of Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures with a reconciliation between GAAP and non-GAAP information. The section titled "Definitions of Business Metrics" contains definitions of certain non-financial metrics provided within this earnings release.

Financial Outlook

For the second quarter of fiscal year 2023, the Company currently expects:

  • Total revenue of $180 million to $181 million, representing year-over-year growth of 37%
  • Non-GAAP operating loss of $27 million to $25 million
  • Non-GAAP net loss per share of $0.21 to $0.19, assuming basic and diluted weighted average shares outstanding of approximately 129 million

For the full fiscal year 2023, the Company currently expects:

  • Total revenue of $756 million to $761 million, representing year-over-year growth of 37% to 38%
  • Calculated billings of $910 million to $925 million, representing year-over-year growth of 38% to 40%
  • Non-GAAP operating loss of $86 million to $76 million
  • Non-GAAP net loss per share of $0.67 to $0.59, assuming basic and diluted weighted average shares outstanding of approximately 129 million
  • Net free cash flow of $0

We have not reconciled net free cash flow guidance to net cash from operating activities because we do not provide guidance on the reconciling items between net cash from operating activities and net free cash flow, due to the uncertainty regarding, and the potential variability of, these items. The actual amount of such reconciling items will have a significant impact on our net free cash flow. Accordingly, a reconciliation of net cash from operating activities to net free cash flow guidance is not available without unreasonable effort. We do not provide reconciliation of calculated billings guidance as its components are solely revenue and deferred revenue, and guidance for revenue is already provided.

Conference Call Information

Smartsheet will host a conference call and live webcast for analysts and investors at 4:30 p.m. ET (1:30 p.m. PT) on June 7, 2022. A live webcast and accompanying presentation can be accessed on the Investor Relations section of the Company's website at: https://investors.smartsheet.com. The conference call can also be accessed by dialing (888) 440-6385, or +1 (646) 960-0180 (outside of the US). The conference ID is 7672979. A replay of the call via webcast will be available at https://investors.smartsheet.com or by dialing (800) 700-2030 or +1 (647) 362-9199 (outside of the US). The dial-in replay will be available until the end of day on June 14, 2022. The webcast replay will be available for one year.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s outlook for the second fiscal quarter and the full fiscal year ending January 31, 2023, and Smartsheet’s expectations regarding possible or assumed business strategies, potential growth and innovation opportunities, new products, and potential market opportunities.

Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “continue,” “could,” “potential,” “remain,” “will,” “would,” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our ability to achieve future growth and sustain our growth rate; our ability to attract and retain customers and increase sales to our customers; our ability to develop and release new products and services and to scale our platform; our ability to increase adoption of our platform through our self-service model; our ability to maintain and grow our relationships with strategic partners; the highly competitive and rapidly evolving market in which we participate; our ability to identify targets for, execute on, or realize the benefits of, potential acquisitions; our international expansion strategies; and the impact of the COVID-19 pandemic. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended April 30, 2022 to be filed with the SEC. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Use of Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures can be found in the accompanying financial statements included with this press release.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We are presenting these non-GAAP financial metrics to assist investors in seeing our financial performance through the eyes of management, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry.

We define non-GAAP operating loss as GAAP operating loss excluding share-based compensation expense, amortization of acquisition-related intangible assets, one-time costs associated with mergers and acquisitions, and litigation expenses and settlements related to matters that are outside the ordinary course of our business. We define non-GAAP net loss as GAAP net loss excluding non-recurring income tax adjustments associated with mergers and acquisitions and the same exclusions that are used to derive non-GAAP operating loss. There are a number of limitations related to the use of these non-GAAP measures as compared to GAAP operating loss and net loss, including that the non-GAAP measures exclude share-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy.

We use the non-GAAP financial measure of net free cash flow, which is defined as GAAP net cash flows from operating activities, reduced by cash used for purchases of property and equipment (inclusive of spend on internal-use software). We believe net free cash flow is an important liquidity measure of the cash that is available, after capital expenditures and operational expenses, for investment in our business and to make acquisitions. Net free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet and invest in future growth. There are a number of limitations related to the use of net free cash flow as compared to net cash from operating activities, including that net free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

We define calculated billings as total revenue plus the change in deferred revenue in the period. Because we recognize subscription revenue ratably over the subscription term, calculated billings can be used to measure our subscription sales activity for a particular period, to compare subscription sales activity across particular periods, and as an indicator of future subscription revenue.

Definitions of Business Metrics

Average ACV per domain-based customer

We define average ACV per domain-based customer as total outstanding ACV for domain-based subscriptions as of the end of the reporting period divided by the number of domain-based customers as of the same date. We define domain-based customers as organizations with a unique email domain name.

Dollar-based net retention rate

We calculate dollar-based net retention rate as of a period end by starting with the ACV from the cohort of all customers as of the 12 months prior to such period end, or Prior Period ACV. We then calculate the ACV from these same customers as of the current period end, or Current Period ACV. Current Period ACV includes any upsells and is net of contraction or attrition over the trailing 12 months, but excludes subscription revenue from new customers in the current period. We then divide the total Current Period ACV by the total Prior Period ACV to arrive at the dollar-based net retention rate. Any ACV obtained through merger and acquisition transactions does not affect the dollar-based net retention rate until one year from the date on which the transaction closed.

About Smartsheet

Smartsheet (NYSE: SMAR) is the enterprise platform for dynamic work. By aligning people and technology so organizations can move faster and drive innovation, Smartsheet enables its millions of users to achieve more. Visit www.smartsheet.com to learn more.

Disclosure of Material Information

Smartsheet announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of the company’s website at https://investors.smartsheet.com.

SMARTSHEET INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data)

(unaudited)

 

 

Three Months Ended April 30,

 

2022

 

2021

Revenue

 

 

 

Subscription

$

155,276

 

 

$

108,013

 

Professional services

 

13,034

 

 

 

9,069

 

Total revenue

 

168,310

 

 

 

117,082

 

Cost of revenue

 

 

 

Subscription

 

25,138

 

 

 

18,563

 

Professional services

 

12,020

 

 

 

8,009

 

Total cost of revenue

 

37,158

 

 

 

26,572

 

Gross profit

 

131,152

 

 

 

90,510

 

Operating expenses

 

 

 

Research and development

 

52,519

 

 

 

36,474

 

Sales and marketing

 

115,391

 

 

 

71,379

 

General and administrative

 

33,044

 

 

 

21,018

 

Total operating expenses

 

200,954

 

 

 

128,871

 

Loss from operations

 

(69,802

)

 

 

(38,361

)

Interest income

 

388

 

 

 

11

 

Other income (expense), net

 

(828

)

 

 

1,327

 

Loss before income tax provision

 

(70,242

)

 

 

(37,023

)

Income tax provision

 

215

 

 

 

49

 

Net loss

$

(70,457

)

 

$

(37,072

)

Net loss per share, basic and diluted

$

(0.55

)

 

$

(0.30

)

Weighted-average shares outstanding used to compute net loss per share, basic and diluted

 

128,519

 

 

 

124,110

 

 

Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands, unaudited):

 

Three Months Ended April 30,

2022

2021

Cost of subscription revenue

$

2,611

$

1,495

 

Cost of professional services revenue

1,477

673

 

Research and development

15,615

8,307

 

Sales and marketing

14,745

8,656

 

General and administrative

9,452

4,728

 

Total share-based compensation expense

$

43,900

$

23,859

 
SMARTSHEET INC.

Condensed Consolidated Balance Sheets

(in thousands, except share data)

(unaudited)

 

 

April 30, 2022

 

January 31, 2022

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

239,683

 

 

$

449,074

 

Short-term investments

 

206,981

 

 

 

 

Accounts receivable, net of allowances of $5,534 and $7,561, respectively

 

119,473

 

 

 

151,138

 

Prepaid expenses and other current assets

 

46,008

 

 

 

34,390

 

Total current assets

 

612,145

 

 

 

634,602

 

Restricted cash

 

16

 

 

 

17

 

Deferred commissions

 

94,130

 

 

 

91,312

 

Property and equipment, net

 

37,787

 

 

 

36,835

 

Operating lease right-of-use assets

 

67,735

 

 

 

67,171

 

Intangible assets, net

 

41,610

 

 

 

44,096

 

Goodwill

 

125,605

 

 

 

125,605

 

Other long-term assets

 

2,930

 

 

 

3,194

 

Total assets

$

981,958

 

 

$

1,002,832

 

Liabilities and shareholders’ equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

7,366

 

 

$

1,506

 

Accrued compensation and related benefits

 

46,337

 

 

 

66,744

 

Other accrued liabilities

 

24,378

 

 

 

18,901

 

Operating lease liabilities, current

 

19,330

 

 

 

18,003

 

Deferred revenue

 

344,657

 

 

 

332,285

 

Total current liabilities

 

442,068

 

 

 

437,439

 

Operating lease liabilities, non-current

 

57,148

 

 

 

58,237

 

Deferred revenue, non-current

 

1,766

 

 

 

2,377

 

Other long-term liabilities

 

 

 

 

 

Total liabilities

 

500,982

 

 

 

498,053

 

Shareholders’ equity

 

 

 

Preferred stock, no par value; 10,000,000 shares authorized, no shares issued or outstanding as of April 30, 2022 and January 31, 2022

 

 

 

 

 

Class A common stock, no par value; 500,000,000 shares authorized, 128,867,149 shares issued and outstanding as of April 30, 2022; 500,000,000 shares authorized, 127,809,525 shares issued and outstanding as of January 31, 2022

 

 

 

 

 

Class B common stock, no par value; 500,000,000 shares authorized, no shares issued and outstanding as of April 30, 2022; 500,000,000 shares authorized, no shares issued and outstanding as of January 31, 2022

 

 

 

 

 

Additional paid-in capital

 

1,094,309

 

 

 

1,047,313

 

Accumulated other comprehensive loss

 

(342

)

 

 

 

Accumulated deficit

 

(612,991

)

 

 

(542,534

)

Total shareholders’ equity

 

480,976

 

 

 

504,779

 

Total liabilities and shareholders’ equity

$

981,958

 

 

$

1,002,832

 

SMARTSHEET INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

Three Months Ended April 30,

 

2022

 

2021

Cash flows from operating activities

 

 

 

Net loss

$

(70,457

)

 

$

(37,072

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

Share-based compensation expense

 

43,900

 

 

 

23,717

 

Depreciation and amortization

 

6,078

 

 

 

4,792

 

Amortization of deferred commission costs

 

13,077

 

 

 

9,201

 

Net amortization of premium or discount on investments

 

(49

)

 

 

 

Unrealized foreign currency (gain) loss

 

589

 

 

 

(319

)

Non-cash operating lease costs

 

3,899

 

 

 

3,491

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable

 

31,489

 

 

 

13,357

 

Prepaid expenses and other current assets

 

(13,103

)

 

 

(3,634

)

Other long-term assets

 

32

 

 

 

199

 

Accounts payable

 

5,688

 

 

 

(1,072

)

Other accrued liabilities

 

5,595

 

 

 

(5,480

)

Accrued compensation and related benefits

 

(23,790

)

 

 

(7,465

)

Deferred commissions

 

(15,895

)

 

 

(15,341

)

Deferred revenue

 

11,761

 

 

 

15,670

 

Operating lease liabilities

 

(3,867

)

 

 

(3,005

)

Net cash used in operating activities

 

(5,053

)

 

 

(2,961

)

Cash flows from investing activities

 

 

 

Purchases of short-term investments

 

(207,274

)

 

 

 

Purchases of property and equipment

 

(1,691

)

 

 

(3,220

)

Proceeds from liquidation of an investment

 

622

 

 

 

 

Proceeds from sale of property and equipment

 

94

 

 

 

 

Capitalized internal-use software development costs

 

(2,323

)

 

 

(2,017

)

Net cash used in investing activities

 

(210,572

)

 

 

(5,237

)

Cash flows from financing activities

 

 

 

Proceeds from exercise of stock options

 

1,370

 

 

 

3,403

 

Taxes paid related to net share settlement of equity awards

 

(1,366

)

 

 

(2,763

)

Proceeds from Employee Stock Purchase Plan

 

6,804

 

 

 

4,687

 

Net cash provided by financing activities

 

6,808

 

 

 

5,327

 

Effects of changes in foreign currency exchange rates on cash, cash equivalents, and restricted cash

 

(821

)

 

 

447

 

Net decrease in cash, cash equivalents, and restricted cash

 

(209,638

)

 

 

(2,424

)

Cash, cash equivalents, and restricted cash at beginning of period

 

449,680

 

 

 

442,348

 

Cash, cash equivalents, and restricted cash at end of period

$

240,042

 

 

$

439,924

 

 

Supplemental disclosures

Cash paid for income taxes

$

68

$

27

Right-of-use assets obtained in exchange for operating lease liabilities

4,464

 

Accrued purchases of property and equipment (including internal-use software)

789

 

1,505

Share-based compensation expense capitalized in internal-use software development costs

748

 

384

SMARTSHEET INC.

Reconciliation from GAAP to Non-GAAP Financial Measures

(unaudited)

 

Reconciliation from GAAP to non-GAAP operating loss and operating margin

 

 

Three Months Ended April 30,

 

2022

 

2021

 

(dollars in thousands)

Loss from operations

$

(69,802

)

 

$

(38,361

)

Add:

 

 

 

Share-based compensation expense(1)

 

44,228

 

 

 

23,859

 

Amortization of acquisition-related intangible assets(2)

 

2,483

 

 

 

2,517

 

One-time acquisition costs

 

 

 

 

17

 

Non-GAAP operating loss

$

(23,091

)

 

$

(11,968

)

 

 

 

 

Operating margin

 

(41

) %

 

 

(33

) %

Non-GAAP operating margin

 

(14

) %

 

 

(10

) %

(1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods.

(2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting and contribute to revenue generation. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized.

Reconciliation from GAAP to non-GAAP net loss

 

 

Three Months Ended April 30,

 

2022

 

2021

 

(in thousands)

Net loss

$

(70,457

)

 

$

(37,072

)

Add:

 

 

 

Share-based compensation expense(1)

 

44,228

 

 

 

23,859

 

Amortization of acquisition-related intangible assets(2)

 

2,483

 

 

 

2,517

 

One-time acquisition costs

 

 

 

 

17

 

Non-GAAP net loss

$

(23,746

)

 

$

(10,679

)

(1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods.

(2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting and contribute to revenue generation. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized.

Anti-dilutive shares (in thousands)

 

 

April 30,

2022

 

2021

Shares subject to outstanding common stock awards

11,569

 

12,050

Shares issuable pursuant to the 2018 Employee Stock Purchase Plan

216

 

54

Total potentially dilutive shares

11,785

 

12,104

SMARTSHEET INC.

Reconciliation from GAAP to Non-GAAP Financial Measures

(unaudited)

 

Reconciliation from net operating cash flow to net free cash flow

 

 

Three Months Ended April 30,

 

2022

 

2021

 

 

 

 

 

(in thousands)

Net cash used in operating activities

$

(5,053

)

 

$

(2,961

)

Less:

 

 

 

Purchases of property and equipment

 

(1,691

)

 

 

(3,220

)

Capitalized internal-use software development costs

 

(2,323

)

 

 

(2,017

)

Free cash flow

$

(9,067

)

 

$

(8,198

)

Reconciliation from revenue to calculated billings

 

 

Three Months Ended April 30,

 

2022

 

2021

 

 

 

 

 

(in thousands)

Total revenue

$

168,310

 

$

117,082

Add:

 

 

 

Deferred revenue (end of period)

 

346,423

 

 

239,667

Less:

 

 

 

Deferred revenue (beginning of period)

 

334,662

 

 

223,997

Calculated billings

$

180,071

 

$

132,752

Reconciliation from GAAP to non-GAAP operating loss guidance

 

 

Q2 FY 2023

 

FY 2023

 

Low

 

High

 

Low

 

High

 

 

 

 

 

 

 

 

 

(in millions)

Loss from operations

$

(78.5

)

 

$

(76.5

)

 

$

(294.0

)

 

$

(284.0

)

Add:

 

 

 

 

 

 

 

Share-based compensation expense(1)

 

49.0

 

 

 

49.0

 

 

 

198.0

 

 

 

198.0

 

Amortization of acquisition-related intangible assets(2)

 

2.5

 

 

 

2.5

 

 

 

10.0

 

 

 

10.0

 

Non-GAAP operating loss

$

(27.0

)

 

$

(25.0

)

 

$

(86.0

)

 

$

(76.0

)

(1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods.

(2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting and contribute to revenue generation. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized.

SMARTSHEET INC.

Reconciliation from GAAP to Non-GAAP Financial Measures

(unaudited)

 

Reconciliation from GAAP to non-GAAP net loss guidance

 

 

Q2 FY 2023

 

FY 2023

 

Low

 

High

 

Low

 

High

 

 

 

 

 

 

 

 

 

(in millions)

Net loss

$

(78.5

)

 

$

(76.5

)

 

$

(294.0

)

 

$

(284.0

)

Add:

 

 

 

 

 

 

 

Share-based compensation expense(1)

 

49.0

 

 

 

49.0

 

 

 

198.0

 

 

 

198.0

 

Amortization of acquisition-related intangible assets(2)

 

2.5

 

 

 

2.5

 

 

 

10.0

 

 

 

10.0

 

Non-GAAP net loss

$

(27.0

)

 

$

(25.0

)

 

$

(86.0

)

 

$

(76.0

)

(1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods.

(2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting and contribute to revenue generation. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized.

Source: Smartsheet Inc.

Smartsheet Inc.

Investor Relations Contact

Aaron Turner

investorrelations@smartsheet.com

Media Contact

Chrissy Vaughn

pr@smartsheet.com

Source: Smartsheet Inc.

Smartsheet Inc

NYSE:SMAR

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About SMAR

smartsheet is the world’s leading saas platform for managing and automating collaborative work. over 90,000 companies, and millions of information workers, trust smartsheet to help them accelerate business execution and address the volume and velocity of today’s collaborative work. smartsheet is used by over 50% of the fortune 500 and maintains rich data integrations with mission-critical applications from microsoft, google, salesforce, atlassian, and many others.