Smartsheet Benefits From Growing Customer Base and AI Adoption

Financial Performance - The company ended the quarter with annualized recurring revenues of $1.093 billion and more than 15.3 million users, with ARR growth of 17% year over year [2] - For Q3 fiscal 2025, the company expects revenues in the $282-$285 million range, suggesting year-over-year growth of 15-16% [7] - For fiscal 2025, revenues are projected to be between $1.17 billion and $1.18 billion, indicating a 14.2-14.5% increase year over year [8] Customer and Enterprise Growth - The company registered strong growth in the enterprise segment, with 75 customers increasing ARR by more than $100,000 and three transactions exceeding $1 million, including one over $4 million [1] - The number of customers with ARR of more than $1 million surged 50% year over year, totaling 77 [1] Product and AI Integration - The company announced a partnership with AWS to introduce a new AI-powered data connector that synchronizes data into Amazon Q Business, enhancing productivity and decision-making [3][4] - The connector enables seamless querying of project, program, and process information managed in Smartsheet, fostering a unified search experience across knowledge bases [4] Strategic Collaborations - The company's growing clientele includes key partners like Amazon, Microsoft, and Alphabet, which have been major growth drivers [5] - Collaboration with Alphabet includes deep integration with Google Apps for Work, enhancing productivity through features like Gmail and Calendar sync [5] - Integration with Microsoft Office 365 has streamlined work processes, improving productivity and collaboration across teams [6]