Shares of Smartsheet  (SMAR) - Get Report  were rising 7.7% in trading Wednesday after its adjusted fourth-quarter loss was narrower than analysts' expectations. 

The Bellevue, Wash.-based business communication company reported a net loss of 11 cents per share, or a loss of 7 cents per share on an adjusted basis, on revenue of $52.2 million. Analysts were expecting the company to lose 14 cents per share on revenue of $49.6 million. 

"Q4 capped a great year for Smartsheet," said Mark Mader, CEO of Smartsheet. "Our work execution platform continues to empower customers across the globe, our leadership in the expanding Collaborative Work Management market continues to strengthen, and we remain intensely focused on helping enterprises achieve a competitive advantage through digital transformation."

For the current quarter, the company expects to lose between 19 cents and 18 cents per share on revenue between $54 million and $55 million. Wall Street is expecting the company to lose 18 cents per share on revenue of $54.7 million. 

For the year, the company expects revenue between $253 million and $257 million with an adjusted loss between 59 cents and 55 cents per share. Analysts are expecting revenue of 254 million with a net loss of 56 cents per share. 

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