Smartsheet Inc. - SMAR STOCK NEWS

Smartsheet Inc. reported strong financial results for Q4 FY23, with total revenue of $212.3 million, up 35% year over year. Subscription revenue increased by 37% to $198.9 million. The company achieved positive free cash flow of $16.4 million in Q4, contributing to a full-year free cash flow of $9.8 million. Despite a GAAP net loss of $(42.7) million, improvements were noted in non-GAAP metrics, such as a net income of $9.9 million. For FY24, Smartsheet expects revenue growth of 23%-24% and free cash flow guidance of $110 million.

Smartsheet (NYSE:SMAR) has been recognized as a leader in G2's 2023 Best Software Awards, ranking #5 in the Best Products for Enterprise category. As the only collaborative work management platform in the top 50, Smartsheet continues to empower teams across over 90% of Fortune 100 companies, including GM and Pfizer. With a focus on project management, marketing, and strategic transformation, Smartsheet provides robust enterprise capabilities to enhance productivity and innovation.

CEO Mark Mader emphasized the importance of user reviews in validating the platform's transformational value.

Smartsheet sponsors the first Seattle Kraken artist residency, featuring Matika Wilbur's exhibition, The Salmon People, from February 16 to March 13, 2023, at Climate Pledge Arena. The installation highlights critical issues affecting salmon habitats, emphasizing the connection between traditional Coast Salish culture and environmental conservation. This residency aims to elevate Native American art and storytelling, reflecting Smartsheet's commitment to community engagement through sports sponsorships. The initiative also supports the Sponsor X program focusing on cultural connections, STEM, and art integration.

Smartsheet Inc. (NYSE: SMAR) will announce its Q4 and full fiscal year 2023 financial results on March 14, 2023, after U.S. financial markets close. A conference call will follow at 4:30 p.m. ET to discuss the results, accessible via dial-in numbers (888) 440-6385 for U.S. callers and (646) 960-0180 for international callers. The conference ID is 7672979. A replay will be available two hours post-event for seven days. For more information, visit Smartsheet's investor relations website.

The Future of Work Management Report from Smartsheet (NYSE: SMAR) highlights that 96% of employees manage projects without formal training, indicating a global resource recession. The report indicates that many organizations are under-resourced, with 24% of respondents assuming project management roles informally. Key takeaways include the need for increased support, focus on 'middle work' for project success, and establishing scalable processes to avoid repeated work. Leaders are encouraged to invest in training and technology to facilitate this shift towards a resource revolution. The survey was conducted among 8,000 employees in multiple countries.

The Future of Work Management Report by Smartsheet reveals that 83% of Australian employees manage projects without formal project management training. Nearly 18% are 'citizen project managers' unprepared for their roles, with 90% reporting negative impacts from poor project management. The report identifies a resource recession across industries, indicating a shortage of trained personnel. Key takeaways highlight the need for better support, focus on essential project tasks, and improved processes. The survey emphasizes the necessity for organizations to shift towards a resource revolution to enhance productivity and job satisfaction.

Smartsheet (NYSE: SMAR) announced that its President and CEO, Mark Mader, will present at the 25th Annual Needham Growth Conference in New York, NY on January 10, 2023, at 2:15 p.m. Eastern Time. A live webcast of the event will be available on the company's investor website, with a replay accessible afterward. Smartsheet's platform enhances modern work management by aligning technology and people, allowing users to drive innovation and achieve greater results.