Smartsheet
Financial Performance
Smartsheet Revenue & Financials
Revenue
$958.3M (FY2024)
Market Cap
$8.4B
Employees
3,300
What is Smartsheet's revenue?
Smartsheet had $958.3M in revenue for fiscal year 2024, up 25% from 2023. It reported a net loss of $104.6M.
- Latest revenue
- $958.3M (FY2024)
- Year-over-year
- +25%
- Growth rate (CAGR)
- 46.3% over 7 years
- Peak revenue
- $958.3M (FY2024)
- Years of data
- 8
- Employees
- 3,300
- How much profit does Smartsheet make?
- Smartsheet reported a net loss of $104.6M for fiscal year 2024. sec.gov
- How many employees does Smartsheet have?
- Smartsheet has about 3,300 employees.
Financial Analysis
Smartsheet grew revenue from $67.0 million in fiscal 2017 to $958.3 million in fiscal 2024 (year ended January 31, 2024), a 25% increase that year, while the GAAP net loss narrowed from $215.6 million in fiscal 2023 to $104.6 million. In its last reported quarter as a public company, Q3 fiscal 2025, revenue rose 17% to $286.9 million, ARR grew 15% and the company posted $1.3 million of GAAP net income. As a private company since January 2025, it no longer publishes results. Smartsheet Inc. is a major American enterprise software company providing cloud-based work management and collaboration tools, sustaining a market valuation typically over $8 billion.
Revenue Trend Analysis
YoY Change
+25%
7-Year CAGR
+46.3%
Peak Year
2024
Trend
Consistent Growth
Smartsheet has 8 full fiscal year figures on this page, compounding at +46.3% annually over 7 years. The most recent year saw a 25% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $958.3M. Of 7 comparable year-over-year steps, 7 showed growth and 0 showed a decline.
Annual revenue history
Click any row to see year details.
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Smartsheet Revenue and Financial FAQ
What was Smartsheet's revenue in its final full public fiscal year?
For fiscal year 2024 (ended January 31, 2024), Smartsheet reported consolidated revenue of $958.3 million, representing a 25% year-over-year increase from $766.9 million in FY2023.
When did Smartsheet cross $1 billion in Annualized Recurring Revenue (ARR)?
Smartsheet officially passed $1.0 billion in Annualized Recurring Revenue in the fourth quarter of fiscal 2024, joining an elite cohort of pure-play cloud SaaS software companies.
What was the financial price and valuation of the Blackstone-Vista buyout?
Blackstone and Vista Equity Partners acquired Smartsheet for $56.50 per share in an all-cash transaction valued at approximately $8.4 billion, representing a premium of approximately 27% over its undisturbed pre-rumor share price.
What were Smartsheet's gross margins as a public software company?
Smartsheet maintained strong SaaS gross margins of approximately 80% to 82% on a GAAP basis and 83% to 85% on a non-GAAP basis, reflecting scalable cloud hosting economics on AWS.
How many enterprise customers spent over $100,000 annually with Smartsheet?
At the time of its take-private announcement, Smartsheet had over 1,500 enterprise customers generating more than $100,000 in ARR, and more than 60 customers spending over $1 million annually.
What was Smartsheet's operating cash flow and free cash flow before going private?
Smartsheet generated substantial free cash flow expansion in FY2024 and FY2025, producing over $140 million in free cash flow in FY2024 (a ~15% FCF margin) as sales and marketing leverage improved.
What was Smartsheet's historical GAAP net loss profile?
Like many high-growth cloud SaaS companies, Smartsheet reported GAAP net losses ($104.6 million in FY2024) primarily due to high non-cash stock-based compensation, while operating with solid non-GAAP operating profits.
What revenue multiple did the $8.4 billion buyout represent?
The $8.4 billion transaction valued Smartsheet at approximately 8.0x forward subscription revenue, reflecting its durable growth, enterprise customer retention, and strong free cash flow generation.
What proportion of revenue is recurring subscription revenue?
Subscription revenue accounted for approximately 93% to 94% of Smartsheet's total revenue, with professional services and education contributing the remaining 6% to 7%.
How many total paying corporate organizations rely on Smartsheet?
Smartsheet served approximately 13.5 million active users across more than 100,000 commercial and non-profit organizations worldwide prior to its privatization.
How did private equity debt financing structure the Smartsheet buyout?
The buyout was funded through a combination of institutional equity from Blackstone and Vista alongside a multi-billion-dollar private credit facility provided by top direct lenders, establishing a disciplined capital structure.
What are Smartsheet's medium-term financial targets under private ownership?
Under Blackstone and Vista, management is targeting accelerated revenue growth toward $1.5 billion+ ARR while driving adjusted operating EBITDA margins above 25% to 30% through operational scaling.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Smartsheet Revenue & Financials." CorpDigest, https://corpdigest.com/company/smartsheet/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Smartsheet reported $958.3M in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/smartsheet/financials" target="_blank" rel="noopener">CorpDigest — Smartsheet financials</a></div>Related Financial Audits
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