Smartsheet Inc. - SMAR STOCK NEWS

Smartsheet Inc. (NYSE: SMAR) will announce its financial results for the fourth quarter and full fiscal year 2022 on March 15, 2022, after U.S. markets close. The conference call is scheduled for 4:30 p.m. ET, where executives will discuss the outcomes. Investors can join via the provided dial-in numbers or through the Smartsheet investor relations website. A replay will be available for seven days post-event. Smartsheet focuses on aligning people and technology to drive organizational efficiency and innovation.

Smartsheet announced a new study by Forrester Consulting revealing that their platform delivers a 680% ROI over three years for global enterprises. The study highlights significant productivity improvements, including an 80% reduction in project setup time and $6.1M in productivity gains. Enterprises also experienced a 75% decrease in work management-related emails and over $1.1M in software cost savings. Nearly ten million users leverage Smartsheet for enhanced organizational performance and resource allocation.

Smartsheet Inc. (NYSE:SMAR) announces that President & CEO Mark Mader will present at the 24th Annual Needham Virtual Growth Conference on January 10, 2022, at 2:45 p.m. Eastern Time. Investors can access a live webcast of the presentation on the company's investor website, and a replay will be available afterward. Smartsheet is committed to enhancing productivity by uniting people and technology to drive innovation and efficiency for organizations.

Smartsheet Inc. (NYSE: SMAR) will host a virtual Investor Day on January 7, 2022, starting at 9:00 a.m. PT (12:00 p.m. ET). The event includes a webcast and a live Q&A session, lasting approximately two hours. Interested parties can access the live webcast and presentation materials from Smartsheet's Investor Relations website at investors.smartsheet.com. A replay will also be available post-event.

Smartsheet is an enterprise platform that enhances organizational efficiency and innovation.

Smartsheet (NYSE:SMAR) announced the successful implementation of its platform by NHS England, enhancing project management for digital transformation initiatives. In under three weeks, NHS England moved from using Excel and PowerPoint to Smartsheet, allowing for accurate real-time reporting and a reduction in human errors. This transition is expected to significantly improve patient outcomes by streamlining primary care services. NHS project managers reported increased efficiency and better visibility into project timelines, with plans for broader adoption across the NHS network.

Smartsheet Inc. (NYSE: SMAR) reported a strong third quarter for fiscal 2022, with total revenue of $144.6 million, marking a 46% year-over-year increase. Subscription revenue also rose 46% to $132.6 million. Despite a GAAP net loss of $36.7 million, slightly higher than last year's $32.0 million, the company saw positive trends in customer growth, with a 27% increase in customers with ACV over $5,000. For Q4, Smartsheet projects revenue between $151 million and $152 million, indicating a 37% to 38% growth.

Smartsheet (NYSE: SMAR) has announced a partnership with Special Olympics Inc. (SOI) to enhance project management and collaboration among its teams and athletes. More than 80% of SOI teams currently utilize Smartsheet, resulting in improved transparency and efficiency, saving approximately 45 hours monthly by consolidating project workflows. The partnership aims to empower SOI in managing projects and automating workflows, ultimately benefiting athletes and enhancing organizational effectiveness.

Smartsheet Inc. (NYSE: SMAR) has announced changes to its executive leadership team as it positions itself for future growth. Key appointments include Praerit Garg as chief product officer and executive VP of engineering, Stephen Branstetter as chief operating officer, and Jolene Marshall as chief legal officer. The company also raised its Q3 fiscal year 2022 revenue guidance, projecting earnings between $143.5 million and $144.5 million, marking a 45% to 46% year-over-year growth. Calculated billings are expected to be between $160.5 million and $161.5 million, reflecting a 49% to 50% increase.

Smartsheet (NYSE:SMAR) announced its partnership with McLaren Racing, becoming the official technology partner for the McLaren Formula 1 team during the 2021 Brazilian Grand Prix. This alliance aims to support digital transformation within McLaren's operations by integrating Smartsheet's technology, focusing initially on asset management for fan engagement and race operations. The Smartsheet brand will be featured prominently on McLaren's race cars and team apparel from the 2022 season onward, representing a significant branding opportunity for Smartsheet in a global sports arena.