Smartsheet revenue rose 20% year-over-year to $263 million during its first fiscal quarter, topping analyst estimates.
- The software giant also trimmed its net losses from $29.9 million in the year-ago quarter to $8.9 million. Non-GAAP earnings per share for the most recent quarter came in at $0.32, up from $0.19.
- The company’s shares spiked more than 13% in after-hours trading. Smartsheet stock is down more than 15% this year.
- “We believe the combination of new product innovations, the upcoming launch of our modern pricing and packaging model, and a reinvigorated go-to-market strategy positions us for long-term, durable growth,” Smartsheet CEO Mark Mader said in a press release.
Previously: Smartsheet CEO Mark Mader on AI, hiring, and the new realities of tech spending
