Tue, Jun 11, 8:21 PM (132 days ago)
Samsara Inc. reported a 37% year-over-year increase in revenue to $280.7 million for the quarter ended May 4, 2024. Gross profit rose to $212.1 million, with a gross margin of 76%, up from 72% the previous year. Operating expenses also increased, with research and development costs rising 21% to $73 million, sales and marketing expenses up 24% to $147.4 million, and general and administrative expenses up 33% to $57.7 million. Despite these increases, the company reported a narrower net loss of $56.3 million compared to $67.9 million in the prior-year quarter. Non-GAAP income from operations was $6.2 million, and free cash flow improved to $18.6 million. Samsara's annual recurring revenue (ARR) reached $1.18 billion, with 1,964 customers generating over $100,000 in ARR. The company's cash, cash equivalents, and investments totaled $845 million. The report highlighted the impact of macroeconomic conditions and geopolitical tensions on future operations.