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Compared to Estimates, Smartsheet (SMAR) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

For the quarter ended April 2023, Smartsheet (SMAR) reported revenue of $219.89 million, up 30.6% over the same period last year. EPS came in at $0.18, compared to -$0.19 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $214.13 million, representing a surprise of +2.69%. The company delivered an EPS surprise of +125.00%, with the consensus EPS estimate being $0.08.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Smartsheet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Calculated Billings: $215519 thousand compared to the $214838.3 thousand average estimate based on three analysts.

  • Revenue- Subscription: $206 million versus $200.58 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +32.7% change.

  • Revenue- Professional services: $13.89 million compared to the $13.55 million average estimate based on seven analysts. The reported number represents a change of +6.5% year over year.

View all Key Company Metrics for Smartsheet here>>>

Shares of Smartsheet have returned +26.4% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research