The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Arjun Rohit Bhatia - William Blair & Company L.L.C., Research Division - Analyst
: And Jenny, I just wanted to follow up on that last point a little bit about strength in the enterprise. Certainly good to see the 79
expansions over $50,000. But I'm just curious when you're seeing these large expansions come through, are these new deals that
are coming into the pipeline from customers looking to kind of urgently deploy Smartsheet or are these deals that were in the
pipeline at the beginning of the year that are just now starting to close as customers get a little bit more confident on the macro
outlook? Just maybe trying to understand the dynamics on the larger expansion deals that you closed this quarter.
Question: Arjun Rohit Bhatia - William Blair & Company L.L.C., Research Division - Analyst
: That's great to hear. And then the other part that kind of stuck out in your prepared remarks, Mark, was the user growth. It seems
like that's kind of staying at a healthy clip, and it seems like just from kind of what I can gather from what you said is that the free
collaborative base is actually increasing a little more rapidly than the paying customers. Can you just maybe give us an update on
how you're looking at converting those free collaborators over time? And is there in kind of this COVID environment where there's
a little bit more cost sensitivity? Are you seeing customers trying to put more users into that free bucket and maybe convert them
later over time? What are you seeing on the free user base?
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: Mark, I want to ask a high-level competitive question. So if I think about the platform, right, it's project management, it's data capture
and dashboards, but I think the secret sauce is really in kind of the workflow automation. If that's the case and as you continue to
have success in the enterprise, how do you view Smartsheet vis-a-vis the RPA vendors over time? Do you view them as competitive?
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: Yes. Yes. Okay. That makes sense. And then maybe a follow-up, just in terms of the August pipeline build that you called out. Any
change in the mix of new versus expand opportunities as demand continues to improve?
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SEPTEMBER 02, 2020 / 8:30PM, SMAR.N - Q2 2021 Smartsheet Inc Earnings Call
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