Smartsheet beat expectations for its fiscal fourth quarter earnings, reporting revenue of $109.9 million, up 40% year-over-year, and non-GAAP earnings per share of -$0.04. Analysts expected revenue of $102 million and EPS of -$0.13.
The Bellevue, Wash.-based company, which sells collaboration work management software, saw its subscription revenue rise 42% to $101.1 million, and calculated billings were up 49% year-over-year to $151.2 million for the period ended Jan. 31.
Full-year revenue came in at $385.5 million, up 42%, with a non-GAAP loss of $39.7 million, down from $55 million in fiscal 2020. Smartsheet stock was down slightly in after-hours trading but has nearly doubled over the past year. The company’s market capitalization is more than $8 billion.
Smartsheet expects Q1 revenue at $111-to-$112 million, up 30-to-31%. The company is one of several enterprise software providers that have benefitted from the acceleration of digital technology and services amid the pandemic.
