Published on 3 Dec 2021 on Zacks via Yahoo Finance
Smartsheet SMAR reported third-quarter fiscal 2022 non-GAAP loss of 3 cents per share, narrower than the Zacks Consensus Estimate of a loss of 11 cents as well as the year-ago quarter’s loss of 12 cents.Revenues surged 46% year over year to $144.6 million and surpassed the Zacks Consensus Estimate by 0.6%. The upside was driven by an increasing number of large deals and momentum in bookings growth.Subscription revenues (92% of total revenues) increased 46% year over year to $132.6 million. Professional services (8% of total revenues) revenues rose 50% year over year to $12 million.Calculated billings in the reported quarter jumped 44% year over year to $161.6 million. Quarterly, semi-annual and multi-year billings represented about 4% of total billings reported in the quarter.Following the earnings announcement, shares of Smartsheet jumped 16.5% in the premarket trading on Dec 3. In the past year, shares have declined 0.6% compared with the industry’s decline of 22%.
Smartsheet Price, Consensus and EPS Surprise
Smartsheet Price, Consensus and EPS Surprise