5 Stocks Making Noise After Posting Their Financial Results

2. Smartsheet Inc. (NYSE:SMAR)

Number of Hedge Fund Holders: 50

Shares of Smartsheet Inc. (NYSE:SMAR) climbed over 16 percent in the pre-market trading session on Friday, 3 December 2021, after posting narrower-than-expected loss for its fiscal third quarter.

Smartsheet Inc. (NYSE:SMAR) reported an adjusted loss of 3 cents per share, compared to an adjusted loss of 12 cents per share in the year-ago quarter. Analysts were looking for a loss of 10 cents per share.

Revenue for the quarter jumped 46 percent on a year-over-year basis to $144.6 million, beating expectations of $140 million. If we look at the performance of Smartsheet’s flagship segments, subscription revenue soared 46 percent versus last year to $132.6 million. In comparison, professional services revenue advanced 50 percent to $12 million in the quarter.

Smartsheet Inc. (NYSE:SMAR) also issued its financial outlook for the current quarter. The company expects an adjusted loss in the range of 16 – 14 cents per share and revenue between $151 million to $152 million.

Discussing the results, CEO of Smartsheet Inc. (NYSE:SMAR), Mark Mader, said:

“This was a record quarter for Smartsheet on multiple financial and operational levels, including closing the highest number of large deals in a quarter and seeing the best bookings performance in our company’s history.”