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Samsara (IOT) - 2025 Q4 - Annual Results
IOTSamsara (IOT)2025-03-06 21:10

Financial Performance - Fiscal Year 2025 ended with an Annual Recurring Revenue (ARR) of 1.458billion,representinga321.458 billion, representing a 32% year-over-year growth[3] - Total revenue for Q4 FY2025 was 346.3 million, reflecting a 25% year-over-year growth and a 36% year-over-year adjusted growth[4] - Non-GAAP operating income for FY2025 was 113.6million,comparedto113.6 million, compared to 1.3 million in FY2024, marking a significant improvement[5] - The company reported a GAAP operating loss of 18.4millioninQ4FY2025,asubstantialreductionfromalossof18.4 million in Q4 FY2025, a substantial reduction from a loss of 123.0 million in Q4 FY2024[3] - The number of customers with ARR over 100,000reached2,506,indicatinga36100,000 reached 2,506, indicating a 36% year-over-year growth[4] - For Q1 FY2026, the company expects total revenue between 350 million and 352million,representingayear−over−yeargrowthof25352 million, representing a year-over-year growth of 25%[8] - The FY2026 revenue outlook is projected to be between 1.523 billion and 1.533billion,withayear−over−yeargrowthof221.533 billion, with a year-over-year growth of 22% to 23%[8] - Non-GAAP net income per share for FY2026 is expected to be between 0.32 and 0.34[8]CashFlowandLiquidity−AdjustedfreecashflowforFY2025was0.34[8] Cash Flow and Liquidity - Adjusted free cash flow for FY2025 was 111.5 million, compared to 27.1millioninFY2024,reflectingastrongincrease[5]−Freecashflowmarginisacriticalmetricforevaluatingliquidity,andthecompanyaimstomaintainapositivefreecashflowmargindespitefluctuationsincashflow[26]−Cash,cashequivalents,andrestrictedcashattheendoftheperiodtotaled27.1 million in FY2024, reflecting a strong increase[5] - Free cash flow margin is a critical metric for evaluating liquidity, and the company aims to maintain a positive free cash flow margin despite fluctuations in cash flow[26] - Cash, cash equivalents, and restricted cash at the end of the period totaled 245.79 million, up from 154.74millionattheendofthepreviousyear[38]−TotalcashprovidedbyoperatingactivitiesforthethreemonthsendedFebruary1,2025,was154.74 million at the end of the previous year[38] - Total cash provided by operating activities for the three months ended February 1, 2025, was 53.86 million, a turnaround from cash used in operating activities of 41.88millioninthepreviousyear[38]−ForthethreemonthsendedFebruary1,2025,thecompanyreportedfreecashflowof41.88 million in the previous year[38] - For the three months ended February 1, 2025, the company reported free cash flow of 48,512, compared to a negative free cash flow of (43,973)forthesameperiodlastyear,indicatingasignificantimprovement[45]−Thecompany’snetcashprovidedbyoperatingactivitiesforthethreemonthsendedFebruary1,2025,was(43,973) for the same period last year, indicating a significant improvement[45] - The company’s net cash provided by operating activities for the three months ended February 1, 2025, was 53,859, a substantial increase from (41,878)inthesamequarterlastyear[45]ProfitabilityMetrics−ThecompanyachievedaGAAPgrossmarginof76(41,878) in the same quarter last year[45] Profitability Metrics - The company achieved a GAAP gross margin of 76% for FY2025, up from 74% in FY2024[5] - Non-GAAP gross profit for the three months ended February 1, 2025, was 265,986, compared to 207,250forthesameperiodlastyear,reflectingagrowthofabout28.3207,250 for the same period last year, reflecting a growth of about 28.3%[33] - The company reported a net loss of 11,202 for the three months ended February 1, 2025, significantly improved from a net loss of 113,371inthesamequarterlastyear[33]−ThenetlossforthethreemonthsendedFebruary1,2025,was113,371 in the same quarter last year[33] - The net loss for the three months ended February 1, 2025, was 11.20 million, a significant improvement from a net loss of 113.37millionintheprioryear[38]−Non−GAAPnetincomeforthethreemonthsendedFebruary1,2025,was113.37 million in the prior year[38] - Non-GAAP net income for the three months ended February 1, 2025, was 63.14 million, compared to 23.13millionforthesameperiodlastyear[38]−Non−GAAPoperatingmarginimprovedto1623.13 million for the same period last year[38] - Non-GAAP operating margin improved to 16% for the three months ended February 1, 2025, compared to 5% in the prior year[38] Expenses and Investments - Research and development expenses for the fiscal year ended February 1, 2025, were 299,716, compared to 258,581inthepreviousyear,reflectinganincreaseofapproximately15.9258,581 in the previous year, reflecting an increase of approximately 15.9%[33] - Sales and marketing expenses increased to 90,471 for the fiscal year ended February 1, 2025, up from 75,203,representinga20.375,203, representing a 20.3% rise as the company expands its market presence[45] - The total stock-based compensation expense-related charges for the fiscal year ended February 1, 2025, were 298,647, compared to 251,190inthepreviousyear,showinga18.8251,190 in the previous year, showing a 18.8% increase[45] - The company incurred stock-based compensation expense of 69.02 million for the three months ended February 1, 2025, compared to 64.69millioninthesameperiodlastyear[38]−ResearchanddevelopmentexpensesforthefiscalyearendedFebruary1,2025,totaled64.69 million in the same period last year[38] - Research and development expenses for the fiscal year ended February 1, 2025, totaled 107,250, compared to 95,220inthepreviousyear,indicatinga12.595,220 in the previous year, indicating a 12.5% increase in investment in innovation[45] Balance Sheet Highlights - Total current assets increased to 1,145,154 as of February 1, 2025, up from 886,958asofFebruary3,2024,markingagrowthofapproximately29.2886,958 as of February 3, 2024, marking a growth of approximately 29.2%[30] - Total liabilities rose to 955,106 as of February 1, 2025, compared to 819,698asofFebruary3,2024,indicatinganincreaseofabout16.5819,698 as of February 3, 2024, indicating an increase of about 16.5%[30] Legal and One-Time Charges - The company recognized a one-time operating expense charge of 0.9 million for litigation in the fiscal year ended February 1, 2025, compared to a $68.7 million charge in the previous year, indicating a significant reduction in legal costs[47] Strategic Focus - The company plans to continue focusing on strategic initiatives to enhance future operating needs and market expansion, although specific new products or technologies were not detailed in the call[28]