Smartsheet Inc. has recently released its 10-K report, providing a comprehensive overview of its business operations and financial performance. The company, headquartered in Bellevue, Washington, offers an enterprise platform that enables teams and organizations to plan, manage, automate, and report on work. Smartsheet serves a wide range of sectors, including aerospace, automotive, biotechnology, consumer, e-commerce, education, finance, government, healthcare, IT services, marketing, media, non-profit, publishing, software, technology, and travel.
In the 10-K report, Smartsheet emphasizes its focus on empowering organizations to innovate and achieve results quickly and securely at scale through effective collaboration and streamlined workflows. The company's platform, designed to be accessible and valuable to work managers, their teams, and executive stakeholders, provides visibility and accountability in work execution and eliminates behaviors and processes that hinder productivity. Smartsheet's professional services offerings help customers to create and administer programs for specific use cases, while also providing user management and compliance features to control user access and audit account activity within the platform.
The report highlights Smartsheet's efforts to make its platform accessible for every organization, team, and worker relying on collaborative work to achieve successful outcomes. It outlines the company's strategies to attract more customers, expand within its existing customer base, grow internationally, expand into government sectors, and enhance its product features and functionality. Additionally, Smartsheet emphasizes its focus on making additional investments in partnerships and integrations to drive adoption and deliver value to its customers.
As of January 31, 2024, Smartsheet had over 14 million users, and its customers had annualized recurring revenue ranging from less than $200 to over $6.0 million. The company's blended go-to-market model allows it to serve a larger, diverse user base without incurring excessive costs, delivering its cloud-based software platform through a subscription model globally. Smartsheet's digital sales model enables self-service licensing and adoption through its website, while the company also employs an efficient inside sales team and a targeted field sales team to expand its presence within existing enterprise customers.
As a result of these announcements, the company's shares have moved 0.7% on the market, and are now trading at a price of $38.85. For the full picture, make sure to review Smartsheet's 10-K report.
