5 Stocks Making Headlines After Earnings Reports

2. Smartsheet Inc. (NYSE:SMAR)

Number of Hedge Fund Holders: 59

Shares of Smartsheet Inc. (NYSE:SMAR) turned green after the opening bell on Wednesday, March 16, 2022, following an upbeat financial performance for its fiscal fourth quarter. The Washington-based software company reported an adjusted loss of 12 cents per share, narrower than analysts’ average estimate for a loss of 15 cents per share.

Revenue for the quarter came jumped 43 percent on a year-over-year basis to $157.4 million, topping expectations of $151.66 million. Smartsheet Inc. (NYSE:SMAR) also released its segment-wise sales performance. Its subscription revenue climbed 44 percent to $145.7 million, while professional services revenue rose 34 percent to $11.7 million in the quarter.

Looking forward, Smartsheet Inc. (NYSE:SMAR) expects adjusted loss in the range of 20 – 18 cents per share and revenue between $162 – $163 million for the current quarter. The revenue guidance represents a growth of 38 – 39 percent over the same period last year.

Praising the results, CEO Mark Mader said:

“Our results this quarter cap off an incredible fiscal year at Smartsheet. We once again set new quarterly records for large deals and accelerated annual billings growth. Our momentum has never been stronger.”