Can someone explain on why smartsheet has dropped over 22% despite 55% revenue growth quarter by quarter? This stock has me astonished and I am stuck. Thank you.

Others can probably explain better as I’m still learning, but here’s what I saw. Future guidance was poor and billings were down, and a COVID tailwind may have been expected.

  • Billings were up from $69.1 million to $89.9 million. Projected was $94.1 million.

  • Current quarter revenue expectations are $86 million to $87 million and an adjusted net loss of 16 cents to 18 cents a share. However, analyst expectations were $88.2 million and a loss of 14 cents.

  • The stock had a big run-up with work from home to about +21% from February highs and +55% from March lows. Future guidance knocked it back to about +19% off March lows.