BELLEVUE, Wash. (AP) _ Smartsheet Inc. (SMAR) on Tuesday reported a loss of $28.2 million in its fiscal fourth quarter.
On a per-share basis, the Bellevue, Washington-based company said it had a loss of 24 cents. Losses, adjusted for stock option expense and amortization costs, came to 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine 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 $78.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $77.7 million.
For the year, the company reported that its loss widened to $95.9 million, or 85 cents per share. Revenue was reported as $270.9 million.
For the current quarter ending in May, Smartsheet expects its results to range from a loss of 21 cents per share to a loss of 19 cents per share.
The company said it expects revenue in the range of $82 million to $83 million for the fiscal first quarter.
Smartsheet expects full-year results to range from a loss of 62 cents per share to a loss of 55 cents per share, with revenue ranging from $373 million to $378 million.
Smartsheet shares have dropped 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.59, a decrease of 16% in the last 12 months.