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 reported strong third quarter results for fiscal 2023, with total revenue rising 38% to $199.6 million and calculated billings growing 36% to $219.6 million. Subscription revenue increased by 40% to $186.1 million. However, the company faced a GAAP operating loss of $42.6 million, up from $36.0 million a year ago. Non-GAAP metrics showed a net loss of $1.9 million, a slight improvement from last year. For Q4, Smartsheet expects revenue of $205-$207 million, reflecting a year-over-year growth of 30-32%.
Smartsheet (NYSE:SMAR) has been recognized as a Leader in the Forrester Wave™: Collaborative Work Management Tools, Q4 2022. The report assessed 13 providers, highlighting Smartsheet's strengths in integration capabilities, performance, and innovation roadmap, scoring the highest in 16 criteria. With a broad set of work types and a flexible platform, Smartsheet is well-positioned for enterprise management. Additionally, the company was named a Strong Performer in the Forrester Wave™: Strategic Portfolio Management Tools, Q1 2022, reinforcing its competitive edge.
Smartsheet Inc. (NYSE: SMAR) will release its third quarter fiscal year 2023 financial results on December 1, 2022, after U.S. market close. The quarter ended October 31, 2022. A conference call will follow at 4:30 p.m. ET to discuss the results, with access details provided for both live and replay listeners. The company aims to align people with technology, enhancing work management capabilities for its users. Investors can expect insights into the company’s performance during the call.
Smartsheet announces its participation in the United States Grand Prix in Austin, Texas, from October 21-23, 2022, collaborating with McLaren F1 and The Hidden Genius Project. The event includes a Tech Slam for local youth, focusing on technology and sports. This initiative builds on earlier successes with the Sponsor X program, promoting tech mentorship for underrepresented communities. The Hidden Genius Project has empowered over 8,500 Black youth in tech and entrepreneurship, reinforcing Smartsheet's commitment to diversity and innovation.
Smartsheet (NYSE:SMAR) announces its pivotal role in assisting Climate Pledge Arena and Seattle Kraken in achieving a record-breaking inaugural year. Utilizing Smartsheet's dynamic work management platform, the organizations streamlined their event management, enhancing collaboration and efficiency. The arena, the first net zero–certified venue globally, successfully navigated challenges during its launch amidst a pandemic. Both entities plan to expand Smartsheet's application across additional departments to further boost operational efficiency.
Smartsheet showcased new innovations and client success stories at its annual ENGAGE conference, emphasizing the importance of adaptability and collaboration in modern work environments. CEO Mark Mader highlighted how organizations can achieve more with the platform, empowering teams across various sectors, including racing and healthcare. Notable features introduced include Project Assistant for project initiation, Capacity View for resource management, and the new Desktop App. Upcoming integrations aim to enhance data management and collaboration across systems.
Smartsheet has announced its new Aligned program, set to launch in February 2023, aimed at enhancing partner engagement. Recognizing the crucial role of over 800 global partners, the program will introduce tailored benefits, including custom training, financial incentives, and marketing resources. The initiative reflects a significant growth in partner-led bookings, now at 59%. The Global Partner Summit will showcase the program and honor top partners in various categories, reinforcing Smartsheet’s commitment to collaborative work management.
Smartsheet (NYSE: SMAR) announced that CFO Pete Godbole will present at Citi's 2022 Global Technology Conference on September 8, 2022, at 9:45 a.m. ET in New York. A live webcast will be available on Smartsheet's investor website, and a replay will be accessible until December 8, 2022. Smartsheet is known as the enterprise platform for dynamic work, aiding organizations in innovation and efficiency.
Smartsheet (NYSE: SMAR) has acquired Outfit, a leader in design automation, to enhance its Brandfolder platform. This strategic move aims to empower users with advanced templating and creative automation tools, enabling efficient production of on-brand marketing materials. The acquisition, funded through existing cash, is expected to be neutral to Smartsheet’s fiscal 2023 earnings but accretive afterward. Mark Mader, CEO of Smartsheet, emphasized the value of integrating Outfit’s capabilities to strengthen their position in digital asset management.
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