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Jan 31, 2021
Smartsheet Q4 2021 Earnings Report
Announced fourth quarter and full fiscal year 2021 results, demonstrating revenue growth and positive cash flow.
Key Takeaways
Smartsheet Inc. reported a 40% year-over-year increase in total revenue for the fourth quarter, reaching $109.9 million. The company's calculated billings also grew by 49% year-over-year to $151.2 million. Net operating and free cash flow were positive, at $15.2 million and $9.9 million, respectively.
Total revenue grew 40% year-over-year to $109.9 million.
Calculated billings grew 49% year-over-year to $151.2 million.
Net operating cash flow was positive $15.2 million.
Net free cash flow was positive $9.9 million.
Smartsheet
Smartsheet
Forward Guidance
For the first quarter of fiscal 2022, Smartsheet expects total revenue of $111 million to $112 million, representing year-over-year growth of 30% to 31%. They also anticipate a non-GAAP operating loss of $19 million to $17 million and a non-GAAP net loss per share of $0.15 to $0.14. For the full fiscal year 2022, the company expects total revenue of $500 million to $505 million, representing year-over-year growth of 30% to 31%.
Positive Outlook
- Total revenue of $111 million to $112 million, representing year-over-year growth of 30% to 31% for Q1 2022.
- Calculated billings of $118 million to $119 million, representing year-over-year growth of 31% to 32% for Q1 2022.
- Total revenue of $500 million to $505 million, representing year-over-year growth of 30% to 31% for FY 2022.
- Calculated billings of $580 million to $585 million, representing year-over-year growth of 29% to 30% for FY 2022.
- Continued growth in customer base with ACV of $5,000 or more.
Challenges Ahead
- Non-GAAP operating loss of $19 million to $17 million for Q1 2022.
- Non-GAAP net loss per share of $0.15 to $0.14 for Q1 2022.
- Net free cash flow of negative $12 million to negative $10 million for Q1 2022.
- Non-GAAP operating loss of $55 million to $45 million for FY 2022.
- Non-GAAP net loss per share of $0.44 to $0.36 for FY 2022.