foolChandra posted this helpful recap last quarter: https://discussion.fool.com/smar-quick-q2-highlights-34287906.as…
Here’s a similar recap of Q3 (which SMAR reported yesterday):
Revenue grew 53% YoY to $71.5 million, and subscription revenue grew 55% YoY to $64.4 million.
The number of all customers with annualized contract values (“ACV”) of $5,000 or more grew to 8,421, an increase of 51% year over year
The number of all customers with ACV of $50,000 or more grew to 770, an increase of 114% year over year
The number of all customers with ACV of $100,000 or more grew to 279, an increase of 120% year over year
Average ACV per domain-based customer increased to $3,286, an increase of 48% year over year
Dollar-based net retention rate was 134%
OpEx was up 64% YoY to $89.3 million. That’s an acceleration from 50%+ the last few quarters. Like ESTC, they’re spending more on OpEx than the revenue they brought in. Obviously this is only ok if they can actually turn the spending into more and more customers. I would actually like to see revenue growth percentage increase – and based on the triple digit growth rates they’re running in their largest customer segments, I think this could be possible. To me that’s what we need to see within the next few quarters in order to justify this spending. We’ll see, but I don’t invest based on hope. I am not adding to SMAR right now.
All in all, though, I think this quarter was pretty par for the course.