Smartsheet Up 15% After Q1 Results
Jun 7, 2024
Smartsheet had a good first quarter, with revenues growing 20% and strong margin and cash flow performance. The firm increased customers with recurring revenue over $1 million by 50% - a nice metric, as larger customers are far stickier and easier to grow within. Net retention was 114%, also a good figure. Not much to complain about here and our fair value stays essentially unchanged.
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