Earnings stock to watch: Smartsheet Inc (NYSE: SMAR)

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Smartsheet Inc (NYSE: SMAR) stock rose over 0.6% in the pre-market session on 5th December, 2019 (Source: Google finance) on better than expected results for the third quarter of FY 20. The company has reported the Non-GAAP net loss of $17.7 million, compared to non-GAAP net loss of $9.4 million in the third quarter of fiscal 2019. the company has generated the positive net operating cash flow of $1 million, compared to net operating cash flow of positive $2.4 million in the third quarter of fiscal 2019. However, the company’s net free cash flow was negative $2.9 million, compared to negative $2 million in the third quarter of fiscal 2019.

Moreover, for the third quarter, the company has ended the third quarter with 83,139 domain-based customers. The number of all customers with annualized contract values (“ACV”) of $5,000 or more has posted the growth to 8,421, which represents an increase of 51% year over year. The number of all customers with ACV of $50,000 or more grew to 770, which represents the growth of 114% year over year

The number of all customers with ACV of $100,000 or more grew to 279, which represents the growth of 120% year over year. Average ACV per domain-based customer rose to $3,286, which is an increase of 48% year over year. The company’s dollar-based net retention rate was 134% for the period

SMAR in the third quarter of FY 20 has reported the adjusted loss per share of 15 cents, beating the analysts’ estimates for the adjusted loss per share of 18 cents. The company had reported the adjusted revenue growth of 53 percent to $71.5 million in the third quarter of FY 20, beating the analysts’ estimates for revenue of $69.7 million. Subscription revenue was $64.4 million, an increase of 55% year over year. Professional services revenue was $7.2 million, an increase of 34% year over year. Non-GAAP operating loss was $20.7 million, or 29% of total revenue, compared to non-GAAP operating loss of $10.2 million, or 22% of total revenue, in the third quarter of fiscal 2019.

For the fourth quarter, the company expects revenue to be in the range of $77-78 million and adjusted loss per share is expected to be in the range of $0.17 to $0.16.

For full year 2020, revenue is expected to be in the range of $269.4-270.4 million and adjusted loss per share is expected to be in the range of $0.53 to $0.52.

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