Smartsheet Inc

SMAR

Equity

ISIN US83200N1037 / Valor 41112423

New York Stock Exchange, Inc (2024-11-20)

USD 55.94+0.09%

Smartsheet Inc
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About company

Smartsheet Inc. is a prominent cloud-based platform that facilitates work execution for teams and organizations by providing tools for planning, capturing, managing, automating, and reporting on work processes. The company's services aim to enhance efficiency and improve business outcomes for a wide range of clients, including nonprofit organizations, small businesses, and Fortune 500 companies worldwide.

Summarized from source with an LLMView SourceSector: Technology

Total Revenue

In the first quarter of 2024, Smartsheet Inc. reported a total revenue of $262.984 million, which represents an increase from the $219.886 million reported in the same period of 2023. This growth was driven primarily by an increase in subscription revenue.

Subscription Revenue

Smartsheet Inc.'s subscription revenue for Q1 2024 was $249.095 million, up from $206.001 million in Q1 2023. This significant increase highlights the company's success in expanding its customer base and retaining existing customers.

Net Loss

For the first quarter of 2024, Smartsheet Inc. reported a net loss of $8.858 million, a notable improvement compared to the net loss of $29.870 million in the same quarter of the previous year. This reduction in net loss indicates better cost management and operational efficiency.

Operating Expenses

Smartsheet Inc.'s total operating expenses for Q1 2024 were $225.791 million, up from $206.120 million in Q1 2023. The increase in operating expenses was primarily due to higher investments in research and development, as well as sales and marketing efforts.

Non-GAAP Net Income

On a non-GAAP basis, Smartsheet Inc. reported a net income of $44.364 million for the first quarter of 2024, compared to $25.045 million in the same period of 2023. This improvement reflects the company's strong operational performance and effective cost control measures.

Summarized from source with an LLMView Source

Key figures

34.0%1Y

-14.5%3Y

24.6%5Y

Performance

32.6%1Y

54.3%3Y

55.3%5Y

Volatility