Shares of work collaboration software maker Smartsheet were up more than 11 percent in after-hours trading following its fourth fiscal quarter earnings report.
Smartsheet beat Wall Street expectations with $52.2 million in revenue last quarter, up 58 percent year-over-year, and a GAAP net loss of $0.11 per share, down from $0.45.
For the full year ending January 31, 2019, Smartsheet brought in $177.7 million in revenue, up 60 percent. Its GAAP net loss per share was $0.65, down by a wide margin from $2.94 in fiscal 2018.
Smartsheet stock is up more than 50 percent since the company went public this past April. The company has a market value of more than $4.5 billion.
Smartsheet continues to see strong growth with its largest customers — 444 companies now spend more than $50,000 annually with Smartsheet. That’s up from 360 in the third quarter, and up 135 percent year-over-year.
Last quarter, Smartsheet hired Amazon Web Services veteran Praerit Garg as its new CTO, and acquired Seattle startup Slope. It recently surpassed 1,000 employees and opened new offices in Boston and London.
Smartsheet is among a crop of “collaboration work management” enterprise companies attracting interest from investors in the public and private markets. Others include Asana, Airtable, Wrike, Trello, and giants such as Google and Microsoft.
Founded in 2005, Smartsheet was one of four Washington companies to go public in 2018. Others include tax automation company Avalara; e-signature powerhouse DocuSign; and industrial laser maker nLight.