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Smartsheet: Fiscal 2Q Earnings Snapshot

BELLEVUE, Wash. (AP) _ Smartsheet Inc. (SMAR) on Wednesday reported a loss of $19.1 million in its fiscal second quarter.

On a per-share basis, the Bellevue, Washington-based company said it had a loss of 17 cents. Losses, adjusted for stock option expense and amortization costs, were 8 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 16 cents per share.

The maker of a cloud-based work-management platform posted revenue of $64.6 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $63.5 million.

For the current quarter ending in November, Smartsheet expects its results to range from a loss of 19 cents per share to a loss of 18 cents per share.

The company said it expects revenue in the range of $69 million to $70 million for the fiscal third quarter.

Smartsheet expects full-year results to range from a loss of 58 cents per share to a loss of 54 cents per share, with revenue ranging from $265 million to $268 million.

Smartsheet shares have increased 93% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.91, an increase of 51% 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