Smartsheet Inc (NYSE:SMAR) Q4 2020 Earnings Conference Call - Final Transcript

Mar 17, 2020 • 04:30 pm ET

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Smartsheet Inc (NYSE:SMAR) Q4 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 Fourth Quarter Fiscal 2020 Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Aaron Turner, Head of Investor Relations. Thank you, please go ahead, sir.

Executive
Aaron Turner

Thank you, Christine. Good afternoon and welcome everyone to Smartsheet's fourth quarter and full fiscal year 2020 earnings call. We will be discussing the results announced in our press release issued after the market close today. With me today are Smartsheet's CEO, Mark Mader; our CFO, Jennifer Ceran. Our Chief Product Officer, Gene Farrell will be 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 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 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 U.S. GAAP financials, we will discuss certain non-GAAP financial measures. A reconciliation to the most directly comparable U.S. GAAP measures is available in the presentation that accompanies this call, which can 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 welcome to our Q4 earnings call. We concluded FY '20 with a strong quarter. Q4 revenue grew 51% year-over-year to $78.5 million, bringing our full-year revenue to $270.9 million, up 52% to a year ago. Billings for the quarter were a record $101.5 million, up 58% year-over-year. Our growth was driven by continued strong execution across the business and significant expansion within our existing customers.

I want to begin by sharing some information on our response to the COVID-19 pandemic. It will come as no surprise that the safety and well-being of our team, partners, customers and the communities in which we work is a top priority. As such and based on guidance from local health officials in the CDC, last week we directed employees in all our offices in Bellevue, Boston, London, Edinburgh, and Sydney to work from home unless there is a business-critical need for them to be in the office. We are well