Smartsheet Inc. - SMAR STOCK NEWS

Smartsheet (NYSE: SMAR) hosted over 40,000 solution builders at ENGAGE, showcasing innovations that tackle modern work challenges. Key announcements include the launch of Portfolio WorkApps and DataTable capabilities for enhanced project management and data security. Additionally, the company revealed regional content hosting in Frankfurt to meet EU compliance needs. New integrations with Webex and Adobe Creative Cloud aim to streamline collaboration. These developments reflect Smartsheet’s commitment to empowering organizations with effective tools for dynamic work.

Smartsheet (NYSE:SMAR) has launched Smartsheet Regions in the EU, specifically hosting content in Frankfurt, Germany, enhancing data compliance for global customers. This initiative supports regional governance requirements. Additionally, Smartsheet has partnered with Bechtle, a major EU IT provider, to expand its reach in Germany, Austria, and Switzerland. The company is also increasing its local workforce in Germany to better serve its growing customer base. These efforts aim to bolster digital transformation and improve customer experience.

Smartsheet, recognized as a leader in Project and Portfolio Management and Digital Asset Management software by G2, achieved a remarkable satisfaction score of 99/100. This recognition reflects the effectiveness of its platform in enhancing workflows and collaboration in hybrid work settings. Brandfolder, acquired by Smartsheet, also secured the top position in Digital Asset Management following fifteen consecutive quarters of leadership. The press release highlights customer endorsements from notable organizations like Ogilvy and Roche, reinforcing Smartsheet's role in facilitating dynamic change through its solutions.

Smartsheet Inc. (NYSE: SMAR) announced that its President & CEO, Mark Mader, will present at Citi's 2021 Global Technology Virtual Conference on September 13, 2021, at 11:20 a.m. Eastern Time. A live webcast will be available on Smartsheet’s investor website, with a replay accessible afterward. Smartsheet is an enterprise platform that enhances organizational efficiency and innovation by aligning people and technology. For more details, visit Smartsheet's investor site.

UiPath reported second-quarter fiscal 2022 results, showcasing a remarkable 60% year-over-year growth in Annual Recurring Revenue (ARR), reaching $726.5 million. The company added $73.9 million in net new ARR, with a robust customer base of over 9,100 and a 144% dollar-based net retention rate. Revenue increased 40% to $195.5 million, supported by strong operational execution. The company anticipates fiscal third-quarter ARR between $796 million and $798 million, reflecting ongoing growth amid investments in its partner ecosystem and product integrations.

Smartsheet Inc. (NYSE: SMAR) reported strong second quarter results for fiscal 2022, with total revenue increasing by 44% year-over-year to $131.7 million. Subscription revenue rose 45% to $121.1 million. However, the company reported a GAAP net loss of $44.2 million, compared to $26.6 million in Q2 2021. Positive cash flow was noted with $1.8 million in net operating cash flow, but negative free cash flow reached $3.5 million. Looking ahead, Smartsheet projects third quarter revenue between $138 million and $139 million, indicating growth of 39% to 40% year-over-year.

Smartsheet has been recognized as #15 on the 2021 Best Places to Work in Australia by WRK+ in the under 100 employees category. Employee survey results indicate strong team and organizational relationships, with 94% and 92% satisfaction, respectively. This accolade follows several recent honors, including recognition on Comparably’s Best Places to Work in Seattle and accolades for its collaboration software. Smartsheet’s leaders emphasize a commitment to a supportive company culture, crucial during the challenges posed by the COVID-19 pandemic.

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.