Smartsheet Inc

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SKU: SMAR Category:

Description

Smartsheet Inc. delivered an all-around beat in the most recent quarterly result. During Smartsheet Inc.’s third-quarter earnings call for fiscal year 2024, the company reported robust financial performance, with revenues surpassing guidance, reaching $246 million, reflecting a 23% YoY growth, and billings growing 22% YoY to $268.5 million. The quarter demonstrated a 8% non-GAAP operating margin, generating a free cash flow of $11.4 million. Smartsheet’s annual recurring revenue concluded at $981 million, boasting a user base exceeding 13.9 million. The enterprise’s strength persisted, with notable expansions at companies like Cushman & Wakefield, Cintas Corporation, BeiGene, and CommVault Systems. Q3 showcased the success of capabilities-based products, with Smartsheet Advance playing a pivotal role in significant deals, including a multi-year, multimillion-dollar agreement with a Fortune 500 specialty beverage company. Noteworthy expansions also occurred in the airline and quick-service restaurant sectors, emphasizing Smartsheet’s scalability. The company highlighted achievements in integrating AI across its platform, introducing AI-powered skills to around 50,000 enterprise users for formula and content generation. Smartsheet continues its international expansion, launching a platform instance in Germany in 2021 and planning an instance in Australia in the coming year to meet regional data residency requirements. The quarter marked milestones in Smartsheet’s federal government business, with a six-figure expansion at a large government agency and a presence in all 15 U.S. cabinet-level departments. As Smartsheet approaches the $1 billion ARR milestone, the company maintains a focus on product innovation and customer value, reinforcing its position as the user-preferred enterprise work management leader.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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