Collaborative work management software company Smartsheet this afternoon reported fiscal Q4 revenue and profit that came in above analysts’ expectations and an outlook for this quarter’s revenue that was higher as well.
The report sent Smartsheet shares higher in late trading.
CEO Mark Mader remarked, “We continue to see positive market direction and growth, which contributed to a strong close to FY21.”,
Added Mader, “This past year provided many learnings about how enterprises can invest to excel in a world where the future of work is defined by hybrid work.
We look forward to innovating for our customers and providing the leading dynamic platform to empower teams and achieve better business outcomes.”
Revenue in the three months ended in December rose 40%, year over year, to $110 million, yielding a net loss of 4 cents a share.
Analysts had been modeling $103 million and -$.13 per share.
Smartsheet also offered a number of non-GAAP metrics to show progress in its business:
- The number of all customers with annualized contract values (“ACV”) of $5,000 or more grew to 11,874, an increase of 31% year over year
- The number of all customers with ACV of $50,000 or more grew to 1,515, an increase of 58% year over year
- The number of all customers with ACV of $100,000 or more grew to 588, an increase of 68% year over year
- Average ACV per domain-based customer increased to $5,103, an increase of 40% year over year
- Dollar-based net retention rate was 123%
For the current quarter, the company sees revenue of $111 million to $112 million, and net loss per share in a range of 14 cents to 15 cents. That compares to consensus for $109 million and a 12-cent loss per share.
For the full year, the company sees revenue in a range of $500 million to $505 billion, and a net loss of 36 cents to 44 cents. That compares to consensus of $489 million and a 42-cent loss per share.