Mission Statement, Vision, & Core Values of Smartsheet Inc. (SMAR)

What drives a company valued at over $6 billion to excel in the dynamic tech industry? Uncover the guiding principles behind Smartsheet's success by exploring its mission statement, vision, and core values.

How do these elements shape its strategic direction and impact its performance in the market? Delve into the core of Smartsheet's identity to understand its commitment to innovation and customer value.

Smartsheet Inc. (SMAR) An Overview

Smartsheet Inc. (SMAR) was founded in 2005 and is headquartered in Bellevue, Washington. It provides a cloud-based platform for work management, enabling teams to plan, track, automate, and report on work. The platform is used by businesses of all sizes across various industries to improve collaboration and efficiency. As of April 2025, Smartsheet continues to evolve its offerings to meet the dynamic needs of modern work environments.

Smartsheet's platform offers a range of features, including:

• Project Management
• Workflow Automation
• Resource Management
• Content Collaboration
• Reporting and Analytics

These features help teams manage projects, automate repetitive tasks, and gain real-time insights into their work. Smartsheet serves a diverse customer base, including:

• Technology companies
• Healthcare organizations
• Financial services firms
• Educational institutions
• Government agencies

Smartsheet's widespread adoption across these sectors demonstrates its versatility and value proposition.

In the fiscal year 2024, Smartsheet's total revenue reached $960.2 million, marking a 21% increase year-over-year. Subscription revenue, which is a key indicator of the company's recurring business, grew to $894.7 million, representing a 22% increase year-over-year. This growth is driven by the increasing demand for Smartsheet's platform as businesses seek to improve their work management capabilities. Professional services revenue totaled $65.5 million.

Smartsheet Inc. has demonstrated strong financial performance in its latest reporting period. The company's record-breaking revenue reflects the increasing demand for its work management platform. The company's performance in fiscal year 2024 includes:

• Total revenue of $960.2 million, a 21% increase year-over-year
• Subscription revenue of $894.7 million, a 22% increase year-over-year
• Billings of $1.04 billion, up 18% year-over-year

These figures highlight Smartsheet's continued growth and market leadership. The company's ability to consistently increase its revenue and billings underscores the value it provides to its customers.

Smartsheet has established itself as a leading company in the work management platform industry. Its innovative platform, strong financial performance, and diverse customer base position it for continued success. To understand why Smartsheet is a leader in its industry, read more here: Breaking Down Smartsheet Inc. (SMAR) Financial Health: Key Insights for Investors

Smartsheet Inc. (SMAR) Mission Statement

Smartsheet's mission statement is: 'Empower anyone to drive meaningful change.'

This mission statement serves as a guiding principle for the company's strategic objectives and daily operations. It encapsulates Smartsheet's dedication to providing a platform that enables users, regardless of their technical expertise or organizational role, to initiate and manage impactful changes within their respective domains. The mission emphasizes empowerment, suggesting that Smartsheet aims to equip individuals and teams with the tools and capabilities necessary to take control of their projects, processes, and workflows.

Here's an analysis of the core components of Smartsheet's mission statement:

• Empower: This signifies giving users the ability, authority, or means to do something. In the context of Smartsheet, it means providing users with intuitive and powerful tools that enable them to manage and automate work, collaborate effectively, and make data-driven decisions.
• Anyone: This indicates inclusivity and accessibility. Smartsheet's platform is designed to be user-friendly and adaptable to various industries, roles, and skill levels. This broadens the potential user base and emphasizes the company's commitment to democratizing access to project management and collaboration tools.
• Drive Meaningful Change: This highlights the desired outcome of using Smartsheet. The platform is not just about managing tasks; it's about enabling users to achieve tangible and positive results. This implies that Smartsheet's tools are designed to facilitate innovation, efficiency, and impactful improvements within organizations.

Smartsheet's commitment to its mission is reflected in its product development, customer support, and overall business strategy. By focusing on empowering users to drive meaningful change, Smartsheet has positioned itself as a leader in the collaborative work management space. The company's financial performance in fiscal year 2024, with a total revenue of $960.3 million, demonstrates its success in delivering on this mission and providing value to its customers.

The company's Q4 fiscal year 2024 results further underscore this commitment, with subscription revenue reaching $243.9 million, representing a 16% increase year-over-year. This growth indicates that more users are relying on Smartsheet to manage their work and drive meaningful change within their organizations.

Smartsheet's mission aligns with the broader trend of digital transformation, where organizations are increasingly seeking tools and platforms that can help them adapt to changing market conditions, improve efficiency, and foster innovation. By empowering anyone to drive meaningful change, Smartsheet is playing a key role in enabling organizations to thrive in this dynamic environment.

To get a better understanding of the investor landscape and market sentiment surrounding Smartsheet, feel free to read this blog post: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?

Smartsheet Inc. (SMAR) Vision Statement of

A vision statement serves as a guiding star for a company, outlining its aspirations and long-term goals. While specific, publicly declared vision statements for companies can sometimes be elusive, we can analyze their mission statements, core values, and strategic objectives to infer their overarching vision. For Smartsheet, a clear vision emerges from its dedication to empowering teams and organizations to achieve more through its dynamic work management platform.

Smartsheet's core purpose revolves around empowering teams and organizations. This suggests a vision where Smartsheet is the go-to platform for enabling collaboration, enhancing productivity, and driving innovation. Smartsheet aims to equip its users with tools that make teamwork seamless and effective. As of the fiscal year 2024, Smartsheet reported a revenue of $960.3 million, a 21% increase year-over-year, demonstrating its growing influence in the collaborative work management space.

Key aspects of this vision include:

• Seamless Collaboration: Breaking down silos and fostering better communication among team members.
• Enhanced Productivity: Streamlining workflows and automating tasks to boost efficiency.
• Data-Driven Decision Making: Providing real-time insights and analytics to inform strategic choices.

Innovation is at the heart of Smartsheet's vision. The company aims to continually evolve its platform to meet the changing needs of its users and to leverage emerging technologies to enhance its capabilities. This forward-looking approach positions Smartsheet as a leader in the work management space.

Smartsheet's commitment to innovation is evident in its investment in research and development. In fiscal year 2024, Smartsheet allocated $241.9 million to research and development, reflecting its dedication to staying ahead of the curve and delivering cutting-edge solutions to its customers.

Examples of Smartsheet's innovative features include:

• AI-Powered Automation: Automating repetitive tasks and workflows to free up time for more strategic work.
• Advanced Analytics: Providing users with deeper insights into their data to inform decision-making.
• Integration with Other Tools: Seamlessly connecting with other popular business applications to create a unified work environment.

Smartsheet places a high value on customer success, indicating a vision where the company is not just a software provider but a trusted partner to its customers. This vision involves building a strong ecosystem around the Smartsheet platform, providing users with the support, resources, and expertise they need to achieve their goals.

The company's focus on customer success is reflected in its high customer satisfaction scores and its strong customer retention rate. As of fiscal year 2024, Smartsheet's dollar-based net retention rate was 123%, indicating that existing customers are expanding their use of the platform.

Key elements of Smartsheet's customer-centric approach include:

• Dedicated Customer Support: Providing users with timely and effective support to resolve issues and answer questions.
• Extensive Training Resources: Offering a variety of training materials to help users get the most out of the Smartsheet platform.
• Active User Community: Fostering a vibrant community where users can connect with each other, share best practices, and provide feedback to Smartsheet.

Smartsheet Inc. (SMAR) Core Values of

While a specific, publicly declared mission statement for Smartsheet Inc. isn't readily available, their focus appears to be on empowering teams to achieve more through their dynamic work management platform. Similarly, Smartsheet does not have a publicly stated vision statement. However, based on their actions and solutions, their vision seems centered on leading the future of collaborative work management. The core values are not explicitly listed, insights into their values can be gleaned from their actions and culture. These include:

• Customer Success
• Innovation
• Collaboration
• Integrity
• Impact

Customer Success

Smartsheet's dedication to customer success is evident through its platform's design and support services. They aim to ensure that customers can effectively use the platform to achieve their goals. For example, Smartsheet provides extensive training resources, including webinars and tutorials, to help users onboard and maximize their use of the platform. In 2024, Smartsheet reported a customer satisfaction rate of 90%, reflecting their commitment to meeting customer needs and expectations. This commitment is further supported by their investment in customer support, with a 24/7 support team available to address customer inquiries and issues.

Innovation

Innovation is a driving force. Smartsheet consistently updates its platform with new features and capabilities to meet the evolving needs of its users. This commitment to innovation is reflected in their investment in research and development, which totaled $222.7 million for the fiscal year 2024. One notable example of their innovation is the introduction of AI-powered features, such as intelligent project management and automated workflows, which help users streamline their work processes and improve efficiency. Smartsheet Labs is another initiative showcasing their dedication to exploring and developing cutting-edge solutions for work management.

Collaboration

Collaboration is central to Smartsheet's platform and culture, as they provide tools and features that enable teams to work together effectively, regardless of location. For instance, Smartsheet offers real-time collaboration features, such as co-editing and commenting, which allow team members to work on the same documents simultaneously and provide feedback in real-time. Additionally, Smartsheet integrates with other popular collaboration tools, such as Microsoft Teams and Slack, to provide a seamless collaboration experience. In 2024, Smartsheet reported that teams using their platform experienced a 25% increase in productivity and a 30% reduction in project completion time, highlighting the impact of their collaboration-focused approach.

Integrity

Integrity is a core value that guides Smartsheet's interactions with customers, partners, and employees, and they are committed to conducting business ethically and transparently. Smartsheet maintains a code of conduct that outlines the company's expectations for ethical behavior and compliance with laws and regulations. They also have a whistleblower policy in place, which allows employees to report any suspected violations of the code of conduct or other unethical behavior without fear of retaliation. In 2024, Smartsheet received recognition for its commitment to ethical business practices, earning a spot on the list of 'World's Most Ethical Companies.'

Impact

Smartsheet aims to make a positive impact on its customers, communities, and the world at large. They empower organizations to achieve their goals and drive meaningful change. Smartsheet partners with nonprofit organizations to provide them with access to its platform and resources, enabling them to better manage their operations and achieve their missions. In 2024, Smartsheet donated over $1 million in software and services to nonprofit organizations, supporting their efforts to address critical social and environmental issues. Additionally, Smartsheet encourages its employees to volunteer in their communities, providing them with paid time off to participate in volunteer activities.

To gain more insights into Smartsheet's financial standing, check out: Breaking Down Smartsheet Inc. (SMAR) Financial Health: Key Insights for Investors