Smartsheet(US:SMAR)2023-09-07 22:09Financial Performance - Q2 FY24 - Services revenue reached $14.1 million, a 7% year-over-year increase[7] - Subscription revenue totaled $221.5 million, up 28% year-over-year[23] - GAAP Total Gross Margin was 80%[30] - Non-GAAP Operating Income was $19.2 million, representing 8% of revenue[36] - Free Cash Flow was $45.5 million, or 19% of revenue[36] Subscription Metrics - Average Domain ACV increased to $8,863[17] from $7,557 in Q2 FY23[18] - Dollar-Based Net Retention Rate was 125%[18] Calculated Billings - Q2 FY24 Subscription billings were primarily annual (94%), with 4% monthly and 2% other[15] - Calculated billings totaled $286.7 million[24] FY24 Guidance - The company expects FY24 billings growth of 20%[40] - The company anticipates services revenue to be 6% of total FY revenue[65] - The company projects FY24 Free Cash Flow to be $120 million, a 13% margin[56] - Full year revenue is projected between $950 million and $953 million, representing year-over-year growth between 23% and 24%[43]