Smartsheet Inc (NYSE:SMAR) Q3 2020 Earnings Conference Call - Final Transcript

Dec 04, 2019 • 04:30 pm ET

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Smartsheet Inc (NYSE:SMAR) Q3 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Smartsheet Third Quarter Fiscal 2020 Earnings Conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Aaron Turner, Investor Relations. Please go ahead.

Executive
Aaron Turner

Great, thank you, Emily. Good afternoon and welcome everyone to Smartsheet's third quarter fiscal year 2020 earnings call. We will be discussing the results announced in our press release issued after the market close today. With me are Smartsheet's CEO Mark Mader; our CFO, Jennifer Ceran; our Chief Product Officer, Gene Farrell, will also be available during the Q&A.

Today's call is being webcast and will also be available for replay on our Investor Relations website at investors.smartsheet.com. There is a slide presentation that accompanies Jennifer's prepared remarks which can be viewed in the Events section of our Investor Relations website. During this call we will make forward-looking statements within the meaning of the federal securities laws. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends.

These forward-looking statements are subject to a number of risks and other factors, including but not limited to, those described in our SEC filings available on our Investor Relations website and on the SEC website at www.sec.gov. Although we believe that the expectations reflected in the forward-looking statements are reasonable, our actual results may differ materially and adversely. All forward-looking statements made during this call are based on the information available to us as of today and we do not assume any obligation to update these statements as a result of new information or future events, except as required by law.

In addition to the US GAAP financials, we will discuss certain non-GAAP financial measures. A reconciliation to the most directly comparable US GAAP measure is available in the presentation that accompanies this call, which can be also be found on our Investor Relations website.

With that let me turn the call over to Mark.

Executive
Mark Mader

Thanks, Aaron. Good afternoon everyone and thanks for joining us on today's call. Smartsheet delivered another strong quarter in Q3, building off the momentum and excitement generated at ENGAGE, our third Annual Global Customer Conference, we delivered revenues of $71.5 million representing 53% year-over-year growth. Billings came in at $83.5 million representing 52% year-over-year growth. Our dollar based net retention rate was 134% and the number of users on our platform is now over 5.8 million.

Now, on this third year and having grown over 4,000 attendees, ENGAGE has not only become a showcase for Smartsheet product innovation, but a great opportunity to deepen relationships with customers from around the world. I speak for our entire team when I say how inspiring it was to meet customers' from such a diverse set of industries, hear their enthusiasm and learn how they're using Smartsheet in their teams and businesses.