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Samsara (IOT) - 2025 Q1 - Quarterly Results
IOTSamsara (IOT)2024-06-06 20:10

Financial Performance - Q1 FY2025 revenue reached 280.7million,representinga37280.7 million, representing a 37% year-over-year growth[4] - Annual Recurring Revenue (ARR) at the end of Q1 FY2025 was 1.176 billion, also reflecting a 37% year-over-year increase[6] - The number of customers with ARR over 100,000increasedby43100,000 increased by 43% year-over-year, totaling 1,964 customers[6] - Revenue for the three months ended May 4, 2024, was 280,726,000, representing a 37.4% increase from 204,320,000inthesameperiodlastyear[34]−Grossprofitforthesameperiodwas204,320,000 in the same period last year[34] - Gross profit for the same period was 212,101,000, with a gross margin of 76%, up from 72% year-over-year[39] - Non-GAAP operating income for Q1 FY2025 was 6.2million,resultinginanon−GAAPoperatingmarginof26.2 million, resulting in a non-GAAP operating margin of 2%[5] - Non-GAAP net income for the same period was 15,867,000, compared to a non-GAAP net loss of 11,063,000inthepreviousyear[39]−Thecompanyreportedabasicanddilutednetlosspershareof11,063,000 in the previous year[39] - The company reported a basic and diluted net loss per share of 0.10 for the three months ended May 4, 2024, compared to 0.13intheprioryear[34]FutureOutlook−ForQ2FY2025,thecompanyexpectstotalrevenuebetween0.13 in the prior year[34] Future Outlook - For Q2 FY2025, the company expects total revenue between 288 million and 290million,indicatingayear−over−yeargrowthof31290 million, indicating a year-over-year growth of 31% to 32%[7] - The fiscal year 2025 revenue outlook is projected to be between 1.205 billion and 1.213billion,withayear−over−yeargrowthof291.213 billion, with a year-over-year growth of 29%[7] - Non-GAAP net income per share for FY2025 is expected to be between 0.13 and 0.15[7]OperationalInsights−ThecompanywillhostanInvestorDayonJune27,2024,toprovidefurtherinsightsintoitstrajectoryandthestateofphysicaloperations[9]−Samsara′smissionfocusesonincreasingthesafety,efficiency,andsustainabilityofoperationsthatpowertheglobaleconomy[8]FinancialPosition−Cashandcashequivalentsincreasedto0.15[7] Operational Insights - The company will host an Investor Day on June 27, 2024, to provide further insights into its trajectory and the state of physical operations[9] - Samsara's mission focuses on increasing the safety, efficiency, and sustainability of operations that power the global economy[8] Financial Position - Cash and cash equivalents increased to 162,466,000 as of May 4, 2024, up from 135,536,000asofFebruary3,2024[31]−TotalassetsasofMay4,2024,were135,536,000 as of February 3, 2024[31] - Total assets as of May 4, 2024, were 1,749,433,000, a slight increase from 1,734,845,000asofFebruary3,2024[31]−Totalstockholders′equityroseto1,734,845,000 as of February 3, 2024[31] - Total stockholders' equity rose to 923,888,000 from 915,147,000inthepreviousquarter[31]ExpensesandInvestments−Researchanddevelopmentexpensesincreasedto915,147,000 in the previous quarter[31] Expenses and Investments - Research and development expenses increased to 72,973,000, up from 60,366,000year−over−year,reflectingafocusoninnovation[34]−FreecashflowforthethreemonthsendedMay4,2024,was60,366,000 year-over-year, reflecting a focus on innovation[34] - Free cash flow for the three months ended May 4, 2024, was 18,608,000, compared to 7,955,000inthesameperiodlastyear[42]ProfitabilityImprovement−NetlossforthethreemonthsendedMay4,2024,was7,955,000 in the same period last year[42] Profitability Improvement - Net loss for the three months ended May 4, 2024, was 56,289,000, compared to a net loss of $67,856,000 in the prior year, indicating an improvement of 17.5%[34]