Smartsheet (SMAR) reported earnings on Wed 4 Sept 19 (a/h)

** charts before earnings **

 

** charts after earnings **

Smartsheet beats by $0.08, beats on revs; guides OctQ EPS below consensus, revs above consensus; guides FY20 EPS in-line, revs in-line

Reports Q2 (Jul) loss of $(0.08) per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of ($0.16); revenues rose 52.5% year/year to $64.64 mln vs the $63.55 mln S&P Capital IQ Consensus.

• The number of all customers with annualized contract values (ACV) of $5,000 or more grew to 7,673, an increase of 55% yr/yr
• Customers with ACV of $50,000+ grew to 635, an increase of 113% yr/yr; customers with ACV of $100,000+ grew to 226, an increase of 128% yr/yr.
• ACV per domain-based customer increased to $2,972, an increase of 48% yr/yr; dollar-based net retention rate was 134%.

Co issues mixed guidance for Q3 (Oct), sees EPS of $(0.19)-(0.18), excluding non-recurring items, vs. ($0.15) S&P Capital IQ Consensus; sees Q3 revs of $69-70 mln vs. $68.92 mln S&P Capital IQ Consensus.

Co issues in-line guidance for FY20, sees EPS of $(0.58)-(0.54), excluding non-recurring items, vs. ($0.55) S&P Capital IQ Consensus; sees FY20 revs of $265-268 mln vs. $264.25 mln S&P Capital IQ Consensus and vs prior guidance of $262-265 mln.