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Smartsheet Adds $5.9 Million to Operating Profit With Accounting Change
The change reduced the SaaS firm’s quarterly operating loss by 12.3%.
December 8, 2022
Smartsheet (SMAR), a work management platform, is stretching out the amortization period for deferred sales commissions. Sales commissions will now be amortized over four years instead of three. The change took effect in the quarter ended October 31, 2022 and reduced sales and marketing expenses by approximately $5.9 million.
The move reduced Smartsheet’s quarterly operating loss— $42.5 million— by 12.3% and added $0.05 to EPS.
Related: ASAN, MNDY, TEAM, CTXS
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