Smartsheet's Q4 earnings came in as expected from our earlier analysis, however our text analytics platform picked up on some interesting management commentary around net expansion rate that could lead to some trouble down the road. Is this a trap door or is Smartsheet managing expectations?
Smartsheet reported a strong quarter and guidance yesterday. Both of the key trends we have been tracking with our text analytics platform showed significant strength: moving up-market and expanding within existing customers. However, some comments by SMAR management suggest this could be as good as it gets.
One comment within the Q&A section that grabbed our attention; SMAR suggests the robust 134% net expansion rate may be as good as it gets. This also drove a downtick in overall sentiment, with the Amenity Score for the call coming in at 34, down from 66 last quarter:
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