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EX - 99.1 2 q22022smarearnings.htm Q2 2022 SMAR EARNINGS • Smartsheet Inc. Announces Second Quarter Fiscal Year 2022 Results Second quarter • total revenue grew 44 % year over year to $ 131.7 million Second quarter calculated billings grew 47 % year over year to $ 142.9 million Second quarter net operating cash flow was positive $ 1.8 million , net free cash flow was negative $ 3.5 million BELLEVUE , Wash . - September 7 , 2021 - Smartsheet Inc. ( NYSE : SMAR ) , the enterprise platform for dynamic work , today announced financial results for its second fiscal quarter ended July 31 , 2021 . " Our strong results this quarter reflect the continued rapid adoption of our platform in new deals and expansion within existing customers , ” said Mark Mader , President and CEO of Smartsheet . “ Across the globe , customers choose Smartsheet to manage programs at scale , automate workflows across systems , and rapidly configure no code solutions . Looking ahead , we're committed to continue innovating with our customers to create new , more powerful ways of working in a hybrid world . " Second Quarter Fiscal 2022 Financial Highlights • • • • Revenue : Total revenue was $ 131.7 million , an increase of 44 % year over year . Subscription revenue was $ 121.1 million , an increase of 45 % year over year . Professional services revenue was $ 10.6 million , an increase of 40 % year over year . Operating Loss : GAAP operating loss was $ 43.6 million , or 33 % of total revenue , compared to GAAP operating loss of $ 26.7 million , or 29 % of total revenue , in the second quarter of fiscal 2021. Non - GAAP operating loss was $ 5.2 million , or 4 % of total revenue , compared to non - GAAP operating loss of $ 7.4 million , or 8 % of total revenue , in the second quarter of fiscal 2021 . Net Loss : GAAP net loss was $ 44.2 million , compared to GAAP net loss of $ 26.6 million in the second quarter of fiscal 2021. GAAP net loss per share was $ 0.35 , compared to GAAP net loss per share of $ 0.22 in the second quarter of fiscal 2021. Non - GAAP net loss was $ 5.8 million , compared to non - GAAP net loss of $ 7.2 million in the second quarter of fiscal 2021. Non - GAAP net loss per share was $ 0.05 , compared to non- GAAP net loss per share of $ 0.06 in the second quarter of fiscal 2021 . Cash Flow : Net operating cash flow was positive $ 1.8 million , compared to net operating cash flow of negative $ 1.3 million in the second quarter of fiscal 2021. Net free cash flow was negative $ 3.5 million , compared to negative $ 4.4 million in the second quarter of fiscal 2021 . Second Quarter Fiscal 2022 Business Highlights • • The number of all customers with annualized contract values ( " ACV " ) of $ 5,000 or more grew to 13,420 , an increase of 34 % year over year The number of all customers with ACV of $ 50,000 or more grew to 1,856 , an increase of 64 % year over year The number of all customers with ACV of $ 100,000 or more grew to 748 , an increase of 73 % year over year Average ACV per domain - based customer increased to $ 5,915 , an increase of 42 % year over year Dollar - based net retention rate was 128 %