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SMARTSHEET INC.

(SMAR)
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Smartsheet : Strengthens Global Footprint by Announcing Regional Content Hosting and Expanded Presence in Germany

10/19/2021 | 12:01pm EST

Smartsheet (NYSE:SMAR), the enterprise platform for dynamic work, today unveiled new steps it is taking to strengthen its presence in the European Union (EU) and Germany to better serve its growing list of global customers.

Smartsheet Regions: Giving Global Customers Control Over Content Hosting

Smartsheet announced the launch of Smartsheet Regions, which gives global organizations more control over where they host their Smartsheet content, making it easier for customers to address regional compliance, privacy, and governance requirements.

Smartsheet Regions is now available in the EU and will support new accounts and work assets created there. Smartsheet Regions EU hosts customers’ content in Frankfurt, Germany. More international regions will be added next year.

“We have customers all over the world, and we want to give them more control over where their data is stored so they can more easily comply with local data protection laws and regulations,” said Mark Mader, CEO of Smartsheet. “With Smartsheet Regions, customers can unlock the potential to build and scale work solutions where their data needs to be.”

A New Channel Partner and Expanded Team in Germany

Smartsheet announced a new partnership with Bechtle, one of Europe’s leading IT providers. Bechtle joins Smartsheet’s growing partner community in Germany, Austria and Switzerland. Other regional partners include AMX, Nanga Systems, ON-MC, and Star Cooperation.

Bechtle has been a leading IT provider in the region for more than 35 years. They will be instrumental in extending the reach of Smartsheet’s platform in the region to new customers and supporting existing customers to help them unlock the full power of Smartsheet’s enterprise platform.

“Increasingly more companies are looking to drive digital transformation initiatives so they can become more agile and better serve their customers,” said Michael Backfisch, team lead of software product management infrastructure at Bechtle. “With Smartsheet’s enterprise-grade work management platform, we can help our customers transform their processes and achieve more, so we’re very excited to offer their platform to our channel community.”

To further support its growing customer and partner base in the region, Smartsheet is also expanding its local team in Germany to bolster its existing international presence in London, Edinburgh, and Sydney. Visit our careers page at www.smartsheet.com/careers to see all current job openings.

About Smartsheet

Smartsheet (NYSE: SMAR) is the enterprise platform for dynamic work. By aligning people and technology so organizations can move faster and drive innovation, Smartsheet enables its millions of users to achieve more. Visit www.smartsheet.com to learn more.

About Bechtle

Bechtle AG is one of Europe’s leading IT providers, with some 80 system houses in Germany, Austria and Switzerland as well 24 as e-commerce subsidiaries in 14 European countries. Founded in 1983, the company is headquartered in the southern German town of Neckarsulm and currently employs over 12,000 people. Bechtle provides more than 70,000 customers from the industrial, trade, financial and public sectors with a comprehensive, vendor-neutral portfolio that covers all aspects of IT infrastructure and operation. Bechtle is listed on the MDAX and TecDAX indexes. In 2020, the company generated revenues of around 5.82 billion euros. Read more at: bechtle.com.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s expectations regarding possible or assumed business strategies, channel and partner strategies, potential growth and innovation opportunities, new products, and potential market opportunities.

Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “continue,” “could,” “potential,” “remain,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our ability to achieve future growth and sustain our growth rate, our ability to attract and retain talent, our ability to attract and retain customers (including government customers) and increase sales to our customers, our ability to develop and release new products and services and to scale our platform, our ability to increase adoption of our platform through our self-service model, our ability to maintain and grow our relationships with channel and strategic partners, the highly competitive and rapidly evolving market in which we participate, our ability to identify targets for, execute on, or realize the benefits of, potential acquisitions, and our international expansion strategies. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the US Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2021 filed with the SEC on September 8, 2021. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.


ę Business Wire 2021
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Financials (USD)
Sales 2022 535 M - -
Net income 2022 -181 M - -
Net cash 2022 418 M - -
P/E ratio 2022 -45,3x
Yield 2022 -
Capitalization 8 062 M 8 062 M -
EV / Sales 2022 14,3x
EV / Sales 2023 11,1x
Nbr of Employees 2 168
Free-Float 96,5%
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Number of Analysts 15
Last Close Price 64,00 $
Average target price 91,71 $
Spread / Average Target 43,3%
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Managers and Directors
Mark Patrick Mader President, Chief Executive Officer & Director
Pete Godbole Treasurer, Chief Financial & Accounting Officer
Geoffrey T. Barker Chairman
Praerit Garg Chief Technology Officer & EVP-Engineering
Stephen Branstetter Chief Operating Officer
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