Welcome to our dedicated page for Smartsheet news (Ticker: SMAR), a resource for investors and traders seeking the latest updates and insights on Smartsheet stock.
Smartsheet Inc. (symbol: SMAR) is a leading provider of collaborative work management software, delivered through a cloud-based, software-as-a-service (SaaS) model. Trusted by over 90,000 companies and countless information workers, Smartsheet helps accelerate business execution and addresses the challenges associated with modern collaborative work.
Smartsheet’s platform is renowned for its capacity to manage and automate workflows across various business functions. The company’s comprehensive toolkit includes features for project and process management, real-time visibility, reporting, and automation capabilities. This functionality ensures that teams can streamline their processes and enhance productivity.
One of Smartsheet’s distinguishing features is its extensive integration capabilities. The platform maintains rich data integrations with mission-critical applications from industry leaders such as Microsoft, Google, Salesforce, and Atlassian. This seamless connectivity enables users to work efficiently within their existing tech ecosystems.
Smartsheet’s customer base includes more than 50% of the Fortune 500, underscoring the platform’s scalability and robustness. These enterprises rely on Smartsheet to manage high-volume, fast-paced projects and processes.
The company generates revenue through a subscription-based model, where users pay per-user fees and can incur additional charges for expanded platform capabilities. This model allows businesses of all sizes to access Smartsheet’s powerful tools while scaling usage according to their needs.
Recent achievements include enhancements in the platform’s automation functions and the introduction of new features that further simplify workflow management. Smartsheet continues to innovate, ensuring its platform remains at the forefront of the collaborative work management landscape.
For the latest updates and detailed information on Smartsheet’s performance, events, and developments, the Latest News section is continuously updated with the most recent data directly from Smartsheet.
Smartsheet (NYSE:SMAR) has released its 2025 Project and Portfolio Management Priorities Report, revealing significant challenges in workplace adaptation. The study shows that 92% of PPM professionals struggle with workplace changes, while 97% experience various disruptions affecting business outcomes.
Key findings indicate that nearly half of respondents report harm to profitability, and over 35% note customer dissatisfaction. The report highlights that 23% of organizations lack standardized change processes, with 66% needing better data visibility. Additionally, 58% of professionals find their current tools inadequate, and 99% believe better technology would help adaptation.
The report emphasizes the need for data analytics, team collaboration, workflow automation, and AI implementation, with 50-53% of respondents identifying these as important capabilities for managing disruption.
Smartsheet (NYSE:SMAR) shareholders have approved the company's proposed acquisition by Blackstone and Vista Equity Partners. The approval marks a significant milestone in the acquisition process, which was initially announced in September 2024. Shareholders also endorsed the executive compensation plan associated with the acquisition.
The transaction still requires certain regulatory approvals and other customary closing conditions. The acquisition is expected to close in the fourth quarter of Smartsheet's fiscal year ending January 31, 2025, or shortly thereafter. The company will file the final vote results with the SEC via Form 8-K.
Smartsheet reported strong Q3 FY2025 results, with total revenue reaching $286.9 million, up 17% year over year. The company announced a definitive agreement to be acquired by Blackstone and Vista Equity Partners in an all-cash transaction valued at $8.4 billion ($56.50 per share). Key financial highlights include subscription revenue of $273.7 million (+18% YoY), non-GAAP operating income of $56.4 million (20% of revenue), and free cash flow of $61.8 million (22% of revenue). The company's ARR grew to $1.133 billion, with a dollar-based net retention rate of 111%. Notable metrics include 2,137 customers with ARR over $100,000 (+20% YoY) and average ARR per domain-based customer of $10,708 (+16% YoY).
Smartsheet has been named a Leader in the 2024 Gartner Magic Quadrant for Collaborative Work Management (CWM) for the second consecutive year, achieving the highest position in Ability to Execute among all vendors. The company serves approximately 85% of the 2024 Fortune 500 companies, with the CWM market growing at an estimated 16% per year.
The platform received recognition as a Customers' Choice in the 2024 Gartner Peer Insights Voice of the Customer, with 97% of customers willing to recommend the platform. In October, Smartsheet launched a new user experience and innovative features to enhance team collaboration and improve outcomes at scale.
Smartsheet (NYSE: SMAR) announced it will release its third quarter fiscal year 2025 financial results on December 5, 2024, after U.S. market close. The results, covering the period ended October 31, 2024, will be available on the company's investor relations website. Due to the previously announced acquisition agreement with Blackstone and Vista Equity Partners from September 24, 2024, the company will not hold an earnings conference call or webcast to discuss the results.
Smartsheet Inc. (NYSE: SMAR) has appointed Helen Masters as Managing Director of APJ. With 25 years of experience in enterprise software solutions, Masters will be responsible for driving growth acceleration in the Asia Pacific region. She will work closely with customers and partners to manage mission-critical work and achieve success.
Prior to joining Smartsheet, Masters held executive positions at Ivanti, Infor, Cisco Systems, and SAP. Smartsheet, used by 85% of Fortune 500 companies, provides an enterprise work management platform that connects people and information across teams and organizations. The company recently held its second sold-out ENGAGE Customer Conference in Seattle, unveiling new features and a revamped user experience.
Smartsheet's Sydney office opened in early 2020, and the company now has nearly 13.5 million users across 100,000 organizations in 190 countries.
Smartsheet (NYSE:SMAR) announced a partnership with AWS to launch a new connector that synchronizes data from Smartsheet into Amazon Q Business, a generative AI-powered assistant. This integration allows Amazon Q Business customers to query their intelligent assistant for information about projects, programs, and processes managed in Smartsheet, offering a unified search experience across their knowledge base.
The connector addresses the challenge of data silos by securely combining Smartsheet data with other data sources enabled in Amazon Q Business. This integration is expected to benefit Smartsheet's 13 million users, including approximately 85% of the 2024 Fortune 500 companies, by putting their work management data at their fingertips through AWS's generative AI-powered assistant.
The Smartsheet connector is available to Amazon Q Business customers today in public preview. Additionally, Smartsheet is making its full suite of AI tools available to all customers through the end of December.
Smartsheet (NYSE:SMAR) unveiled a comprehensive transformation of its enterprise work management platform at its annual ENGAGE customer conference. The update includes a new user experience and first-of-a-kind features to empower organizations to operate more efficiently. Key innovations include:
1. Collections: A unique capability allowing users to curate and selectively share items securely within workspaces.
2. File library: Streamlines collaboration on digital assets, enabling easy file management and review processes.
3. Redesigned interface: A more intuitive, inviting platform with a vibrant, modern design system focused on accessibility.
4. Enhanced data visualization: Including board view for Kanban-style work tracking and an improved table view with faster formula calculations and load times.
These updates aim to simplify onboarding, improve collaboration, and increase value for users of all technical abilities within Smartsheet's secure, no-code environment.
Smartsheet (NYSE:SMAR), the enterprise platform for modern work management, has announced a definitive agreement to be acquired by funds managed by Blackstone and Vista Equity Partners in an all-cash transaction valued at approximately $8.4 billion. Shareholders will receive $56.50 per share, representing a 41% premium to the 90-day volume-weighted average closing price.
The deal includes a 45-day 'go-shop' period ending November 8, 2024, allowing Smartsheet to solicit alternative acquisition proposals. The transaction is expected to close in Q4 of Smartsheet's fiscal year ending January 31, 2025, subject to shareholder approval and regulatory clearances. Upon completion, Smartsheet will become a privately held company but continue operating under its current name and brand.
Smartsheet Inc. (NYSE: SMAR) reported strong Q2 fiscal 2025 results, with total revenue growing 17% year-over-year to $276.4 million. The company's annualized recurring revenue (ARR) increased 17% to $1.093 billion. Smartsheet achieved a record free cash flow of $57.2 million, representing 21% of total revenue. The company's GAAP net income was $7.9 million, a significant improvement from a net loss of $33.4 million in Q2 fiscal 2024. Smartsheet also introduced a new subscription model and released new features like board view. The company updated its full fiscal year 2025 guidance, expecting total revenue between $1,116 million and $1,121 million, representing 16% to 17% year-over-year growth.
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