5 Stocks in Limelight After Releasing Their Earnings Reports

4. Smartsheet Inc. (NYSE: SMAR)

Number of Hedge Fund Holders: 49

Shares of Smartsheet Inc. (NYSE: SMAR) fell more than 14 percent on Wednesday, 8 September 2021, despite beating expectations for the second quarter. The company reported an adjusted loss of 5 cents per share for the three months ended 31 July, marginally lower than the adjusted loss of 6 cents per share in the year-ago quarter.

Analysts were expecting Smartsheet Inc. (NYSE: SMAR) to report a loss of 13 cents per share. Revenue for the quarter climbed 44 percent on a year-over-year basis to $131.7 million, ahead of the consensus forecast of $125.51 million.

Smartsheet Inc. (NYSE: SMAR) enjoyed growth across its key business segments. Subscription revenue in the quarter jumped 45 percent versus last year to $121.1 million, while revenue from the professional services rose 40 percent to $10.6 million.

Discussing the latest performance, CEO Mark Mader said:

“Our strong results this quarter reflect the continued rapid adoption of our platform in new deals and expansion within existing customer. Across the globe, customers choose Smartsheet to manage programs at scale, automate workflows across systems, and rapidly configure no code solutions. Looking ahead, we’re committed to continue innovating with our customers to create new, more powerful ways of working in a hybrid world.”

Smartsheet Inc. (NYSE: SMAR) also released the financial guidance for its fiscal 2022. It expects an adjusted loss in the range of 44 – 36 cents per share and revenue between $530 million – $533 million.