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Jan 31, 2022
Smartsheet Q4 2022 Earnings Report
Smartsheet's Q4 2022 results were announced, showcasing revenue growth and increased customer base.
Key Takeaways
Smartsheet Inc. reported a 43% year-over-year increase in total revenue for the fourth quarter of fiscal year 2022, reaching $157.4 million. The company's calculated billings grew by 48% year-over-year to $224.3 million. Smartsheet ended the year with a dollar-based net retention rate of 134%.
Total revenue increased by 43% year-over-year to $157.4 million.
Calculated billings grew by 48% year-over-year to $224.3 million.
GAAP operating loss was $52.1 million, or 33% of total revenue.
The number of customers with ACV of $100,000 or more grew by 74% year-over-year.
Smartsheet
Smartsheet
Forward Guidance
For the first quarter of fiscal year 2023, Smartsheet expects total revenue of $162 million to $163 million, representing year-over-year growth of 38% to 39%. For the full fiscal year 2023, the company expects total revenue of $750 million to $755 million, representing year-over-year growth of 36% to 37%.
Positive Outlook
- Total revenue of $162 million to $163 million, representing year-over-year growth of 38% to 39% for Q1 2023
- Total revenue of $750 million to $755 million, representing year-over-year growth of 36% to 37% for FY 2023
- Calculated billings of $905 million to $925 million, representing year-over-year growth of 37% to 40% for FY 2023
- Non-GAAP operating loss of $25 million to $23 million for Q1 2023
- Non-GAAP operating loss of $90 million to $80 million for FY 2023
Challenges Ahead
- Non-GAAP operating loss of $25 million to $23 million for Q1 2023
- Non-GAAP operating loss of $90 million to $80 million for FY 2023
- Non-GAAP net loss per share of $0.20 to $0.18 for Q1 2023
- Non-GAAP net loss per share of $0.70 to $0.62 for FY 2023
- Net free cash flow of negative $15 million to negative $10 million for FY 2023