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Jul 31, 2021
Smartsheet Q2 2022 Earnings Report
Reported a 44% increase in total revenue year over year, reaching $131.7 million.
Key Takeaways
Smartsheet Inc. announced strong financial results for its second fiscal quarter ended July 31, 2021. Total revenue increased by 44% year-over-year to $131.7 million. The company's leadership expressed commitment to continued innovation.
Total revenue grew 44% year-over-year to $131.7 million.
Calculated billings grew 47% year-over-year to $142.9 million.
GAAP operating loss was $43.6 million, or 33% of total revenue.
Net operating cash flow was positive $1.8 million, while net free cash flow was negative $3.5 million.
Revenue by Segment
Forward Guidance
For the third quarter of fiscal 2022, Smartsheet expects total revenue between $138 million and $139 million, representing year-over-year growth of 39% to 40%. They also anticipate a non-GAAP operating loss between $15 million and $12 million, and a non-GAAP net loss per share of $0.12 to $0.10.
Positive Outlook
- Total revenue of $138 million to $139 million, representing year-over-year growth of 39% to 40%
- Calculated billings of $149 million to $150 million, representing year-over-year growth of 33% to 34%
Challenges Ahead
- Non-GAAP operating loss of $15 million to $12 million
- Non-GAAP net loss per share of $0.12 to $0.10, assuming basic and diluted weighted average shares outstanding of approximately 126 million
- Net free cash flow of negative $17 million to $15 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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