FMP
Smartsheet Shares Surge 17% Following Q4 Earnings Results
Mar 16, 2023 1:03 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Smartsheet (NYSE:SMAR) shares jumped more than 17% yesterday after the company reported its Q4 results, with EPS coming in at $0.07, better than the Street estimate of ($0.01). Revenue was $212.3 million, beating the Street estimate of $206.25 million.
Despite better-than-expected results, the company provided a carefully measured 2024 revenue outlook, incorporating the potential for a worsening macro environment. This is despite continued solid new customer activity (18,093 >$5K customers, up 19.4% year-over-year) and enterprise strength (1,484 >$100K ACV customers, up 44.6% year-over-year).
The company expects Q1/24 EPS in the range of $0.08-$0.09, compared to the Street estimate of ($0.06), and revenue in the range of $213-$215 million, compared to the Street estimate of $217 million.
For the full year, the company expects EPS to be in the range of $0.31-$0.38, compared to the Street estimate of ($0.09), and revenue in the range of $943-948 million, compared to the Street estimate of $956 million.
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