5 Notable Quarterly Reports to Watch

2. Smartsheet Inc. (NYSE:SMAR)

Number of Hedge Fund Holders: 45

Shares of Smartsheet Inc. (NYSE:SMAR) fell over six percent in the pre-market trading session on Wednesday, June 8, 2022, despite beating financial expectations for its fiscal first quarter.

Smartsheet Inc. (NYSE:SMAR) reported an adjusted loss of 18 cents per share, compared to 9 cents per share in the same period of 2021. Revenue for the quarter climbed 44 percent on a year-over-year basis to $168.3 million. The results were better than analysts’ average estimate for a loss of 19 cents per share and revenue of $162.55 million.

Smartsheet Inc. (NYSE:SMAR) also disclosed its segment-wise sales performance. Its subscription revenue skyrocketed 44 percent to $155.3 million, while professional services revenue also climbed 44 percent to $13 million in the quarter.

Looking forward, Smartsheet Inc. (NYSE:SMAR) expects revenue in the range of $180 – $181 million for its fiscal second quarter and between $756 – $761 million for its fiscal year 2023.