A brief history of Smartsheets

A brief history of Smartsheets:

Software company Smartsheet spikes in IPO
APR 27 2018

Smartsheet raised $150 million in its initial public offering.
Shares closed at $19.55 after debuting at $18.40, more than 20 percent above the price of shares it sold in its initial public offering.
The company’s competitors include Atlassian, which went public in 2015…

Smartsheet first filed to go public on March 26. On April 16 the company revised the filing, estimating that it would price its stock between $10 and $12 per share. On April 24, Smartsheet made a second revision, raising the range to $12 to $14 per share.

On Thursday the company announced that it ultimately priced its stock at $15 per share, raising $150 million in the IPO. With 98.9 million shares left outstanding, the company had an implied valuation of $1.48 billion. That’s above the company’s reported $852 million valuation from last year…
https://www.cnbc.com/2018/04/27/smartsheet-smar-ipo-stock-ma…


i could see this company Fitting into the Foolish IPO service or even one of the Smid Cap Portfolio addendum services.


On June 4 2018
Smarsheets reported
Q1 2019 total revenues increased by 63% yoy Ending the quarter with 75,642 domain-based customers
Average ACV per domain-based customer increased to $1,808, a 47% growth
Dollar-based net retention rate was 130%

Q2 revs were up 59% yoy Ending the quarter with 76,693 domain-based customers
Average ACV per domain-based customer increased to $2,002, a 49%
Dollar-based net retention rate was 131%

Q3 revs were up 59% yoy Ending the quarter with 77,893 domain-based customers
Average ACV per domain-based customer increased to $2,214, an increase of 48%
Dollar-based net retention rate was 132%

On March 19, 2019
Smartsheets reported
Q4 revs grew 58% yoy Ending the year with 78,959 domain-based customers
Average ACV per domain-based customer increased to $2,454, an increase of 50%
Dollar-based net retention rate was 134%

Q1 2020 revs grew 55% yoy Ending the quarter with 80,280 domain-based customers
Average ACV per domain-based customer increased to $2,675 , an increase of 48%
Dollar-based net retention rate was 134%


Of note is the increase in average annualized contract values from $1,808 in Q1 2019 to $2,675 in Q1 2020


Then Smartsheet Inc. (NYSE: SMAR), a leading cloud-based platform for work execution, today announced the pricing of an underwritten public offering of its Class A common stock at a price to the public of $43.50 per share, consisting of 7,800,000 shares offered by Smartsheet and 5,100,000 shares offered by certain selling shareholders…
http://investors.smartsheet.com/press-releases/press-release…


Q2 2020 total revenue grew 53% yoy Ending the quarter with 82,186 domain-based customers
Average ACV per domain-based customer increased to $2,972
Dollar-based net retention rate was 134%.


Which leads us to the upcoming Q3 quarter to be reported on December 5th with the company outlook looking for Total revenue of $69.0 million to $70.0 million, representing year-over-year growth of 47% to 49%.
They consistently underestimate their revs saying that Q2 would see growth of 49% to 51% and they achieved 53% growth…
Similarly, they estimated growth of 49% to 51% in Q1 and we see that revs grew 55%.

…and i like the customer count steady increase and the growth in average annualized contract values.

So that is what i get out of my visit to the Smartsheets investor website:
https://investors.smartsheet.com/?_ga=2.255909263.521227719…

Today we see more new customers with expansion in Europe ;^):

Smartsheet Announces QBS Distribution as European Channel Distribution Partner
Smartsheet (SMAR), the platform for enterprise achievement, today announced its partnership with QBS Distribution, a leading EMEA software delivery platform. With a primary focus on the U.K. market, QBS Distribution will deliver Smartsheet’s full product portfolio in addition to technical, pre- and post-sales support. The partnership builds on the launch of its channel program, Smartsheet Aligned, announced at the company’s global customer conference in October.

“There’s a massive opportunity for Smartsheet and our partners in this region, with significant demand coming from both partners interested in joining our program and customers looking for high-value services delivered by local providers,” said Mike Arntz, Chief Revenue Officer and Executive Vice President of Worldwide Field Operations at Smartsheet. “Our partnership with QBS Distribution not only plays an important role in our growth into new verticals and geographies, but it upholds our commitment to providing our shared customers with a market leading, enterprise-grade platform.”
https://finance.yahoo.com/news/smartsheet-announces-qbs-dist…

Best, kevin c
long of smar

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