Smartsheet (NYSE: SMAR) shares dropped around 3% after-hours despite the company reporting better-than-expected Q2 results, with EPS of ($0.05), beating the consensus estimate of ($0.13). Quarterly revenue was $131.7 million (44% year-over-year growth), versus the Street estimate of $125.51 million.

The company reported 34% year-over-year growth in the number of customers with ACV (annualized contract values) >$5,000, 64% year over year growth in the number of customers with ACV >$50,000, and 73% year-over-year growth in the number of customers with ACV >$100,000.

The company provided Q3 guidance, with expected total revenue of $138-$139 million (39-40% year-over-year growth) and EPS of ($0.12)-($0.10).

For the full 2022-year, the company expects an EPS of ($0.44)-($0.36), versus the Street estimate of ($0.39), and revenue of $530-533 million (37-38% year-over-year growth), versus the consensus of $514 million.