foolChandra posted this helpful recap last quarter:…

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.



Another good quarter. Maintaining consistency as they grow.

Nothing much to say other than it’s like the same as last quarter with bigger numbers. Cash flow looked close to break even. Outlook suggests you can cut and paste this quarter into that one.

Probably one of the surest thing high growth companies we follow.

900 customers now buying those accelerator products. Their investments are producing results. It’s pretty amazing to be growing ACV at 50% quarter after quarter. Growing $100K customers faster than anybody.

Most companies, would kill to have their customer growth metrics. But for the routine-ness of their performance, they’d have bigger headlines in the market press.