Smartsheet: Fiscal 3Q Earnings Snapshot
BELLEVUE, Wash. (AP) _ Smartsheet Inc. (SMAR) on Wednesday reported a loss of $28.9 million in its fiscal third quarter.
On a per-share basis, the Bellevue, Washington-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense and amortization costs, were 15 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The maker of a cloud-based work-management platform posted revenue of $71.5 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $69.7 million.
For the current quarter ending in January, Smartsheet expects its results to range from a loss of 17 cents per share to a loss of 16 cents per share.
The company said it expects revenue in the range of $77 million to $78 million for the fiscal fourth quarter.
Smartsheet expects full-year results to range from a loss of 53 cents per share to a loss of 52 cents per share, with revenue ranging from $269.4 million to $270.4 million.
Smartsheet shares have increased 76% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.70, an increase of 66% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMAR at https://www.zacks.com/ap/SMAR