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Smartsheet (SMAR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended April 2024, Smartsheet (SMAR) reported revenue of $262.98 million, up 19.6% over the same period last year. EPS came in at $0.32, compared to $0.18 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $258.06 million, representing a surprise of +1.91%. The company delivered an EPS surprise of +18.52%, with the consensus EPS estimate being $0.27.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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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:

  • Revenue- Professional services: $13.89 million versus $13.26 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a 0% change.

  • Revenue- Subscription: $249.10 million compared to the $244.84 million average estimate based on six analysts. The reported number represents a change of +20.9% year over year.

  • Revenue- Subscription: $249.10 million versus the six-analyst average estimate of $244.84 million. The reported number represents a year-over-year change of +20.9%.

  • Revenue- Professional services: $13.89 million compared to the $13.26 million average estimate based on six analysts. The reported number represents a change of 0% year over year.

View all Key Company Metrics for Smartsheet here>>>

Shares of Smartsheet have returned -2.8% over the past month versus the Zacks S&P 500 composite's +4.6% 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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