Company: Smartsheet Inc.
Symbol: SMAR
Description: They are a leading cloud-based platform for work execution, enabling teams and organizations to plan, capture, manage, automate, and report on work at scale, resulting in more efficient processes and better business outcomes.
Shares: 11.6 million
Price Range: $10.00-$12.00
Trade Date: 4/27
Underwriter(s): Morgan Stanley, J.P. Morgan, Jefferies, RBC Capital
Co-Manager: Canaccord Genuity, William Blair, SunTrust Robinson Humphrey
Terms Added: 4-16-18
Business: Smartsheet was founded in 2005 with a vision to build a universal application for work management that does not require coding capabilities. Their platform serves as a single source of truth across work processes and fosters accountability and engagement within teams, leading to more efficient decision-making and better business outcomes. Their platform provides a number of solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. Their reporting and automation capabilities further improve speed by reducing time spent on administration and repetitive work. They make it easy for teams to apply business logic to automate repetitive actions using an extensive list of conditions. Business users, with little or no training, can configure and modify their platform to customize workflows to suit their needs. Their familiar and intuitive user interface and functionality allows users to realize the benefits of their platform without changing the behaviors developed using everyday productivity tools.
Financials: For the years ended January 31, 2017 and 2018, their total revenue was $67.0 million and $111.3 million, respectively, representing period-over-period total revenue growth of 66%. For the years ended January 31, 2017 and 2018, their net loss was $15.2 million and $49.1 million, respectively. For the years ended January 31, 2017 and 2018, cash provided by (used in) operations was $0.1 million and ($13.6 million), respectively.
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