Smartsheet, Inc. (NYSE:SMAR) Q3 2022 Earnings Conference Call December 2, 2021 4:30 PM ET Company Participants Aaron Turner - Senior Director, IR Mark Mader - President, CEO & Director Pete Godbole - CFO & Treasurer Conference Call Participants Brent Thill - Jefferies Mark Murphy - JPMorgan Chase & Co. John Godin - Needham & Company George Iwanyc - Oppenheimer Allan Verkhovski - Wolfe Research Arjun Bhatia - William Blair & Company Joseph Meares - Truist Securities Steven Enders - KeyBanc Capital Markets Ke ...

a smartsheet Earnings Conference Call Q2 Fiscal Year 2022 September 7, 2021 Forward-Looking Statements This presentation (including the accompanying oral presentation) contains forward-looking statements within the meaning of the federal securities laws, including statements regarding future financial performance, business strategy and objectives, potential market and growth opportunities, technological or market trends, and projected sales and customer retention rates. We have based these forward-looking s ...

Smartsheet Inc. (NYSE:SMAR) Q2 2022 Earnings Conference Call September 7, 2021 4:30 PM ET Company Participants Aaron Turner - Head of Investor Relations Mark Mader - Chief Executive Officer Pete Godbole - Chief Financial Officer Gene Farrell - Chief Strategy and Product Officer Conference Call Participants Brent Thill - Jefferies Pinjalim Bora - JPMorgan George Iwanyc - Oppenheimer Keith Bachman - BMO Capital Markets Arjun Bhatia - William Blair Steven Enders - KeyBanc Capital Markets Rishi Jaluria - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38464 Smartsheet Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I. ...

α smartsheet Earnings Conference Call Q1 Fiscal Year 2022 June 2, 2021 Forward- Looking Statements This presentation (including the accompanying oral presentation) contains forward-looking statements within the meaning of the federal securities laws, including statements regarding future financial performance, business strategy and objectives, potential market and growth opportunities, technological or market trends, and projected sales and customer retention rates. We have based these forward-looking state ...

Revenue Growth - Subscription revenue for the three months ended April 30, 2021, was $108,013,000, an increase from $77,163,000 in the same period of 2020, representing a growth of 40%[125] - Total revenue for the three months ended April 30, 2021, was $117,082,000, compared to $85,487,000 in the same period of 2020, reflecting a year-over-year increase of 37%[125] - Total revenue for the three months ended April 30, 2021, was $117.1 million, an increase of $31.6 million or 37% compared to $85.5 million in the same period of 2020[127] - Subscription revenue increased by $30.9 million, or 40%, driven by user-based subscription plans contributing $18.3 million and pre-configured capabilities contributing $12.6 million[127] - The calculated billings for the same period were $132.8 million, up 47% from $89.9 million year-over-year[154] Customer Metrics - The average annualized contract value (ACV) per domain-based customer increased to $5,461 in 2021 from $3,866 in 2020, indicating a growth of 41%[108] - The dollar-based net retention rate for all customers was 125% for the trailing 12 months, down from 132% in the previous year[108] - The number of customers with ACV of $50,000 or more increased to 1,674 in 2021 from 1,040 in 2020, representing a growth of 61%[108] Expenses - Research and development expenses for the three months ended April 30, 2021, were $36,474,000, up from $25,991,000 in 2020, marking an increase of 40%[125] - Sales and marketing expenses rose to $71,379,000 in 2021 from $54,783,000 in 2020, reflecting a growth of 30%[125] - Research and development expenses rose by $10.5 million, or 40%, totaling $26.0 million, primarily due to increased headcount and share-based compensation[133] - Sales and marketing expenses increased by $16.6 million, or 30%, totaling $54.8 million, mainly due to higher employee-related expenses and share-based compensation[134] - General and administrative expenses increased by $5.9 million, or 39%, totaling $21.0 million, driven by higher employee-related expenses and share-based compensation[135] Profitability and Loss - The net loss for the three months ended April 30, 2021, was $37,072,000, compared to a net loss of $27,784,000 in the same period of 2020[125] - Gross profit for the three months ended April 30, 2021, was $90.5 million, a 35% increase from $67.0 million in 2020[129] - Non-GAAP gross profit for the three months ended April 30, 2021, was $93.9 million, with a non-GAAP gross margin of 80%[143] - Non-GAAP operating loss for the same period was $12.0 million, with a non-GAAP operating margin of -10%[145] - The net loss for the three months ended April 30, 2021, was $37.1 million, compared to a net loss of $27.8 million in the prior year[150] Cash Flow and Financial Position - Free cash flow for the three months ended April 30, 2021, was $(8.2) million, an improvement from $(28.2) million in the same period of 2020[150] - As of April 30, 2021, the company had cash and cash equivalents totaling $439.7 million, primarily held in money market funds[155] - Net cash used in operating activities was $(3.0) million for the three months ended April 30, 2021, significantly improved from $(24.3) million in the same period of 2020[161] - The company expects to continue incurring operating losses and negative cash flows from operations for the foreseeable future[155] - The company may seek additional equity or debt financing in the future to support growth and operations[157] Deferred Revenue - Deferred revenue at the end of the period was $239.7 million, with $238.7 million expected to be recognized as revenue in the next 12 months[158] Interest and Other Income - Interest income decreased by $1.3 million, or 99%, to $1.3 million due to lower cash and cash equivalents held in interest-bearing accounts[136] - Other income (expense), net changed by $1.5 million, resulting in a net expense of $214, influenced by an acquisition-related gain contingency[138] Foreign Currency Risks - The company faces foreign currency exchange risks due to international operations, with sales contracts primarily in U.S. dollars[178] - Revenue denominated in currencies such as the British Pound Sterling, Euro, Australian dollar, and Canadian dollar may be negatively affected by changes in the U.S. dollar's value[178] - The company has not engaged in hedging foreign currency transactions to date[178] - An immediate 10% change in the U.S. dollar's value relative to other currencies is not expected to materially affect operating results[178]

Smartsheet Inc. (NYSE:SMAR) Q1 2022 Results Conference Call June 2, 2021 4:30 PM ET Company Participants Aaron Turner - Head of Investor Relations Mark Mader - Chief Executive Officer Pete Godbole - Chief Financial Officer Gene Farrell - Chief Strategy and Product Officer Conference Call Participants Mark Murphy - JPMorgan DJ Hynes - Canaccord Stan Zlotsky - Morgan Stanley Alex Zukin - Wolfe Research Rishi Jaluria - RBC Arjun Bhatia - William Blair Scott Berg - Needham Joe Gallo - Jefferies Michael Turrin - ...

User Base and Growth - As of January 31, 2021, Smartsheet had over 1.2 million paying users and over 6.8 million additional free users referred to as collaborators[29]. - The company aims to convert over 6.8 million existing collaborators into paid users by expanding usage within existing deployments[36]. - Approximately 19% of the company's revenue for the year ended January 31, 2021, was derived from international customers, indicating significant growth potential in global markets[37]. - The company plans to expand internationally, with a focus on managing risks such as currency fluctuations and regulatory changes[167]. Financial Performance - The company incurred net losses of $115.0 million, $95.9 million, and $53.9 million for the years ended January 31, 2021, 2020, and 2019, respectively, with an accumulated deficit of $371.4 million as of January 31, 2021[139]. - Future operating expenses are expected to increase due to anticipated rises in sales and marketing, research and development, operations, and general administrative costs[139]. - Subscription revenue is recognized ratably over the term of the subscription agreements, typically one year, making it difficult to quickly adjust revenue in response to changes in sales[146]. - The company relies on key customers for revenue and reputation; loss or failure to renew contracts with these customers could significantly impact revenue[165]. Product and Technology - The platform is designed to improve work execution, providing capabilities to plan, capture, manage, automate, and report on work, enhancing visibility and accountability[23]. - Smartsheet's automation capabilities save time and minimize manual processing, allowing users to apply business logic without coding[26]. - The platform supports thousands of documented use cases, enabling organizations to manage workflows across various functions[20]. - The company completed its transition from legacy data center infrastructure to the public cloud during the year ended January 31, 2021, enhancing operational efficiency[84]. Market Strategy - The company employs a blended go-to-market model, combining digital sales and targeted field sales to serve a diverse user base efficiently[22]. - The marketing organization employs various strategies, including partnerships with technology companies, to increase brand awareness and user adoption[76]. - Extensive partnerships and integrations with major productivity tools like Microsoft, Google, and Salesforce are being pursued to drive platform adoption[39]. - The company is focused on selective strategic acquisitions, such as Brandfolder and 10,000ft, to enhance its technology and value proposition[40]. Security and Compliance - Smartsheet provides enterprise-grade security controls and data governance to ensure compliance with privacy regulations[31]. - The company emphasizes a comprehensive information security program, adhering to SOC2 and ISO 27001 standards to ensure customer data security[44]. - The company has incurred significant expenses related to compliance with the Sarbanes-Oxley Act, which may strain financial and management resources[180]. Challenges and Risks - Cyber threats are increasing globally, disproportionately affecting cloud-based solution providers, which may lead to significant liabilities for the company[109]. - The company relies on public cloud service providers, and any service outages or disruptions could adversely impact business operations and results[116]. - The ongoing impact of COVID-19 continues to create uncertainties affecting customer collectibility, productivity, and overall economic conditions[137]. - The company may face substantial costs related to litigation for alleged infringement of intellectual property rights, which could divert management's attention[177]. Workforce and Operations - As of January 31, 2021, the company employed 1,915 people, with 1,741 in the U.S. and 174 internationally, reflecting its workforce expansion[66]. - The company experienced rapid growth in personnel, increasing from 274 employees to 1,915 employees between January 31, 2016, and January 31, 2021, which has added complexity to operations[153]. - The company anticipates continued expansion of operations and personnel in the near term, necessitating improvements in operational and financial controls[154]. Intellectual Property - The company has thirteen issued and active patents as of January 31, 2021, which are crucial for protecting its intellectual property and competitive position[89]. - Significant resources may be required to monitor and protect intellectual property rights, which could be costly and time-consuming[174]. - The company may incur substantial costs to indemnify customers or partners in connection with claims or litigation related to intellectual property[177]. Stock and Governance - The market price of the Class A common stock has fluctuated between $18.06 and $85.43 since the IPO at $15.00 per share[188]. - As of January 31, 2021, there were 6,533,474 options and 4,765,240 restricted stock units (RSUs) outstanding, which could significantly dilute existing shareholders[192]. - Provisions in the corporate charter may discourage or prevent mergers and acquisitions that shareholders might consider favorable, potentially depressing the market price of Class A common stock[196]. Customer Experience - The platform is designed to minimize the need for customer support, with significant self-help resources available, enhancing user experience[80]. - The company’s professional services team offers implementation, training, and consulting services to maximize customer benefits from the platform[79]. - Many subscriptions are sold for a one-year term, and renewal rates may fluctuate based on customer satisfaction and competitive pricing[141].

Smartsheet Inc. (NYSE:SMAR) Q4 2021 Earnings Conference Call March 16, 2021 4:30 PM ET Company Participants Aaron Turner - Senior Director of Investor Relations Mark Mader - President and Chief Executive Officer Pete Godbole - Chief Financial Officer Eugene Farrell - Chief Product Officer Conference Call Participants Arjun Bhatia - William Blair & Company LLC Terrell Tillman - Truist Securities, Inc. Ittai Kidron - Oppenheimer & Co. Inc. Melissa Dunn - Morgan Stanley Michael Turrin - Wells Fargo Securities ...

α smartsheet Earnings Conference Call Q4 Fiscal Year 2021 March 16, 2021 Forward- Looking Statements This presentation (including the accompanying oral presentation) contains forward-looking statements within the meaning of the federal securities laws, including statements regarding future financial performance, business strategy and objectives, potential market and growth opportunities, technological or market trends, and projected sales and customer retention rates. We have based these forward-looking sta ...