Smartsheet Inc. - SMAR STOCK NEWS

Smartsheet Inc. (NYSE: SMAR) will release its financial results for Q2 fiscal year 2022, ending July 31, 2021, on September 7, 2021, after U.S. markets close. A conference call for discussion of the results will be held at 4:30 p.m. ET, with a dial-in number provided for access. The results will also be available via webcast on the company's investor relations website. A replay of the event will be accessible shortly after its conclusion.

Smartsheet (NYSE: SMAR) has introduced new innovations, partnerships, and offerings aimed at enhancing its platform for over 8.5 million users. Key announcements include Smartsheet Advance, a premium capabilities offering designed for scalable work management, and Smartsheet for Marketing, which focuses on resource management for marketing teams. Enhancements in security and compliance include Customer Managed Encryption Keys and Enterprise Plan Manager. Additionally, new integrations with companies like McAfee and UiPath enhance operational efficiency and security.

Smartsheet (NYSE: SMAR) has entered a five-year partnership with Climate Pledge Arena and the Seattle Kraken as their official presenting partner. The collaboration includes Smartsheet becoming the title partner for Rink 2 at the Kraken's training center. This partnership aims to enhance operational efficiency through Smartsheet's platform, which will aid in strategic initiatives, planning, and event management. Smartsheet's technology is expected to improve collaboration and accountability across both organizations, fostering a superior fan experience.

Smartsheet (NYSE: SMAR) has launched Smartsheet Advance, a new premium offering designed to enhance enterprise capabilities and streamline work management. This innovative solution bridges the gap between collaboration tools and traditional systems, providing dynamic work features essential for enterprise operations. Customers can choose from three tiers—Silver, Gold, and Platinum—tailored to their needs, promoting efficient process management, secure requests, and intelligent workflows. This launch emphasizes Smartsheet’s commitment to empowering organizations with enhanced governance and compliance.

Smartsheet reported a strong first fiscal quarter for 2022, with revenue increasing by 37% year over year to $117.1 million. Subscription revenue was up 40% at $108.0 million. The company experienced a GAAP operating loss of $38.4 million, slightly improved compared to the previous year. Notably, the customer base grew significantly, with annualized contract values of $5,000 or more increasing by 32%. For Q2, Smartsheet expects revenue between $125 million and $126 million, with full-year revenue projected at $510 million to $515 million.

Smartsheet Inc. (NYSE: SMAR) is set to announce its financial results for Q1 FY2022, ending April 30, 2021, on June 2, 2021, after market close. A conference call will follow at 4:30 p.m. ET, accessible via dial-in or webcast. This event is crucial for investors seeking insights into the company's performance and outlook.

The call can be accessed at (877) 274-9243 in the U.S. or (647) 689-5417 internationally, using conference ID 7295913. A replay will be available shortly after the live event.

Smartsheet reported strong Q4 FY21 results, with total revenue of $109.9 million, marking a 40% year-over-year increase. Subscription revenue rose 42% to $101.1 million, while professional services revenue increased 18%. Despite a GAAP net loss of $28.7 million, the non-GAAP net loss improved to $4.9 million. The company anticipates Q1 FY22 revenue between $111 million and $112 million, and total FY22 revenue between $500 million and $505 million, showcasing continued growth.

Smartsheet (NYSE: SMAR) has appointed Alissa Abdullah to its Board of Directors, highlighting her extensive experience in IT and cybersecurity. Abdullah, currently the Deputy Chief Security Officer at Mastercard, has held executive roles at notable firms like Xerox and Stryker, and served in the Obama administration. Mark Mader, the President and CEO, expressed that her insights will enhance Smartsheet’s strategic approach to dynamic work. Abdullah aims to support the executive team in driving growth for the company, emphasizing its innovative platform.

Smartsheet (NYSE: SMAR) announced that Sonnedix, a global solar Independent Power Producer, has chosen its platform to enhance training, remote work, and health and safety initiatives. Sonnedix operates over 330 power plants with a capacity exceeding 1.5 GW. The company adopted Smartsheet to streamline processes for remote employees, notably improving training session management with 90 sessions and over 1,000 hours delivered in six months. This move aids collaboration across multiple time zones amidst the pandemic, allowing for rapid adaptation to evolving operational needs.