![]() ![]() These expansions contributed to a net addition of 85 customers in our greater than $100,000 ACV customer cohort.Įnterprise expansions for the quarter included Eli Lilly, Motorola Solutions, Foxtel and Novocure, among others and we saw new customer wins at companies such as Liberty Media, Hostess Brands and 811 Group. We continue to see strength with our larger customers with 59 customers expanding their Smartsheet investment by more than $100,000 and 188 companies expanding by over $50,000 in Q1. We ended the quarter with annual recurring revenue of $886 million and more than 12.8 million Smartsheet users. In Q1, we generated non-GAAP operating margins of 10%, more than double the high end of our guidance range and free cash flow was $31.3 million. Smartsheet revenue for the quarter exceeded our guidance and grew by 31% year-over-year to $219.9 million and billings grew 20% year-over-year to $215.5 million. While Pete will provide additional details, I’d like to highlight a few areas of our Q1 performance and share continued progress in our leadership of the enterprise collaborative work management market. Welcome to our first quarter earnings call for fiscal year 2024. Thank you, Aaron and good afternoon everyone. GAAP measures is available in the presentation that accompanies this call, which can also be found on our Investor Relations website.Īnd with that, let me turn the call over to Mark. A reconciliation to the most directly comparable U.S. GAAP financials, we will discuss certain non-GAAP financial measures. We do not assume any obligation to update these statements as a result of new information or future events, except as required by law. ![]() ![]() ![]() All forward-looking statements made during this call are based on information available to us as of today. These forward-looking statements are subject to a number of risks and other factors, including, but not limited to, those described in our SEC filings available on our Investor Relations website and on the SEC website at Although we believe that the expectations reflected in the forward-looking statements are reasonable, our actual results may differ materially and/or adversely. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends. There is a slide presentation that accompanies Pete’s prepared remarks, which can be viewed in the Events section of our Investor Relations website.ĭuring this call, we will make forward-looking statements within the meaning of the federal securities laws. Today’s call is being webcast and will also be available for replay on our Investor Relations website at. With me today are Smartsheet’s CEO, Mark Mader and our CFO, Pete Godbole. We will be discussing the results announced in our press release issued after the market closed today. Good afternoon and welcome everyone to Smartsheet’s first quarter of fiscal year 2024 earnings call. Aaron Turner, Head of Investor Relations. And now at this time, I would like to turn things over to Mr. Good afternoon, ladies and gentlemen and welcome to the Smartsheet First Quarter Fiscal 2024 Earnings Conference Call. ( NYSE: SMAR) Q1 2024 Earnings Conference Call J4:30 PM ET ![]()
0 Comments
Leave a Reply. |