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10-Q - Samsara Inc. (0001642896) (Filer)

Tue, Sep 10, 8:15 PM (312 days ago)

Samsara Inc. reported strong quarterly performance for the period ending August 3, 2024, with revenue of $300.2 million, a 37% increase year-over-year. For the first half of fiscal 2024, revenue reached $580.9 million, also reflecting 37% growth. Despite this revenue growth, the company incurred a net loss of $49.6 million for the quarter and $105.9 million for the six months, though losses decreased compared to the previous year. Key financial metrics showed improvements, with gross margin increasing to 76% due to operational efficiencies. Operating expenses rose, particularly in research and development and sales and marketing, attributed to increased headcount and investments in growth. Cash flow from operations was $41.8 million, driven by adjustments for non-cash items, while free cash flow reached $31.7 million. Samsara's liquidity remains robust with $880.3 million in cash and investments, sufficient for at least the next 12 months. However, uncertainties remain regarding macroeconomic conditions and their potential impact on future operations. The company continues to focus on expanding its customer base and enhancing its Connected Operations Cloud offering.