SMARTSHEET INC
smartsheet.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Dec 5, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 15, 2025.
10-Q for Q3 FY2025, filed Dec 5, 2024
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Sells cloud-based work management software that helps teams and organizations plan, track, automate, and report on work, with add-ons for resource planning and digital asset management.
10-K for FY2024, filed Mar 20, 2024Smartsheet, the enterprise work management platform, empowers organizations to innovate and achieve results quickly and securely at scale…View ↗
Our platform transforms work execution for organizations and teams of all sizes. It is designed to scale to the most demanding…View ↗
Customers can add additional subscriptions, such as Resource Management by Smartsheet (“Resource Management”), a resource planning solution…View ↗
How Did They Make Money?
Customers pay for access to the cloud platform through subscriptions, usually invoiced annually in advance, though some are billed in installments. They also pay for consulting, billed monthly as work is delivered, and training, billed in advance.
10-K for FY2024, filed Mar 20, 2024Subscription revenue primarily consists of fees from customers for access to the Company’s cloud-based platform and involves a significant…View ↗
Professional services revenue primarily includes fees for consulting and training services. The Company’s consulting services consist of…View ↗
Training services are billed in advance, on a fixed-fee basis, and revenue is recognized after the training program is delivered, or after…View ↗
Deferred revenue consists of customer billings and payments in advance of revenue being recognized from the Company’s contracts. The…View ↗
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10-K for FY2024, filed Mar 20, 2024
FY2024 revenue by product or service ↗
$958.3M
-
10-K for FY2024, filed Mar 21, 2024
$958.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription
Recurring
10-K for FY2024, filed Mar 20, 2024 |
94%
FY2021: 92%
|
Subscription, FY2024
$904M Sources
|
Recurring |
|
Professional services
|
5.7%
FY2021: 8.5%
|
Professional services, FY2024
$54.3M Sources
|
Who Were Their Customers?
Organizations across industries and of all sizes use the platform; users can sign up through Smartsheet's website or work with its sales teams, while partner relationships and resellers help reach new customers.
10-K for FY2024, filed Mar 20, 2024Our scalable collaborative work management platform helps teams and organizations of all sizes get work done quickly and efficiently. As of…View ↗
Our domain-based customers include organizations across virtually all sectors, including aerospace, automotive, biotechnology, consumer…View ↗
Our marketing organization is responsible for corporate brand reputation and management, increasing brand awareness and demand generation…View ↗
Our sales organization is responsible for driving customer expansion and new customer opportunities. Our sales force is organized into…View ↗
We have a blended go-to-market model that allows us to serve a larger, diverse user base without incurring excessive costs. We deliver our…View ↗
For the year ended January 31, 2024, we derived approximately 16% of our revenue from customers outside the United States. We believe that…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $104.6M in FY2024, but brought in more cash than it spent: $155.3M of free cash flow.
10-K for FY2024, filed Mar 21, 2024
−$120.3MView ↗
10-K for FY2024, filed Mar 21, 2024
−$104.6MView ↗
10-K for FY2024, filed Mar 21, 2024
$155.3MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Dec 6, 2024
$1.3MView ↗
- ▲ Now profitable
- vs −$32.4M in Q3 FY2024
10-Q for Q3 FY2025, filed Dec 5, 2024
Open tableView ↗
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Jan 22, 2025
Blackstone- and Vista-backed parent completed the Smartsheet acquisition
Vested options and restricted stock units were converted to cash; unvested awards became contingent on continued service.
Sources
8-K, filed Jan 22, 2025
Funds advised by Blackstone and Vista, together with ADIA (collectively, the “Investor Group”), have capitalized Parent as of the Effective…View ↗
Grew. Revenue grew 3.5x in 4 years, from $270.9M in FY2020 to $958.3M in FY2024, about 37% a year.
Who Did They Compete With?
Competes with Google, Microsoft, Airtable, Asana, Atlassian, ClickUp, Monday.com, and Wrike
10-K for FY2024, filed Mar 20, 2024The market for collaborative work management software is fragmented, increasingly competitive, and subject to rapidly changing technology…View ↗
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