Smartsheet Inc. Announces First Quarter Fiscal Year 2021 Results
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Smartsheet (SMAR) Tops Q1 EPS by 8c, Revenues Beat; Offers 2Q & FY21 Revenues Below Consensus, Provides 2Q & FY21 EPS Guidance
June 3, 2020 4:10 PM EDTSmartsheet (NYSE: SMAR) reported Q1 EPS of ($0.11), $0.08 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $85.5 million versus the consensus estimate of $81.29 million.
First Quarter Fiscal 2021 Financial Highlights
Revenue: Total revenue was $85.5 million, an increase of 52% year over year. Subscription revenue was $77.2 million, an increase of 53% year over year. Professional services revenue was $8.3 million, an increase of 42% year over year.Operating Loss: GAAP operating loss was $28.8 million, or 34% of total revenue, compared to GAAP operating loss of $20.9 million, or 37% of total revenue, in the first quarter of fiscal... More