Samsara (IOT) - 2026 Q1 - Quarterly Results

Revenue Growth - Q1 FY2026 revenue reached $366.9 million, representing a 31% year-over-year growth or 32% growth adjusted for constant currency[5] - Annual Recurring Revenue (ARR) at the end of Q1 FY2026 was $1.535 billion, also reflecting a 31% year-over-year growth[4] - The number of customers with ARR over $100,000 increased to 2,638, marking a 35% year-over-year growth[5] - For Q2 FY2026, total revenue is expected to be between $371 million and $373 million, with a year-over-year growth of 24%[7] - The fiscal year 2026 revenue outlook is projected to be between $1.547 billion and $1.555 billion, maintaining a year-over-year growth of 24%[7] Profitability Metrics - GAAP gross profit for Q1 FY2026 was $283.7 million, with a GAAP gross margin of 77%, up from 76% in Q1 FY2025[4] - Non-GAAP operating income for Q1 FY2026 was $51.1 million, resulting in a non-GAAP operating margin of 14%, compared to 2% in the previous year[4] - Non-GAAP net income per share for FY2026 is anticipated to be between $0.39 and $0.41[7] - Non-GAAP net income for the three months ended May 3, 2025, was $62,205, compared to a loss of $56,289 for the same period in 2024[39] - Non-GAAP gross margin improved to 79% for the three months ended May 3, 2025, compared to 77% in the same period last year[39] - Net loss per share attributable to common stockholders improved to $(0.04) for the three months ended May 3, 2025, from $(0.10) in the prior year[33] - Non-GAAP net income per share attributable to common stockholders, basic, increased to $0.11 from $0.03 year-over-year[43] Cash Flow and Operating Activities - The company reported net cash provided by operating activities of $52.6 million in Q1 FY2026, with an operating activities margin of 14%[4] - Adjusted free cash flow for Q1 FY2026 was $45.7 million, resulting in a margin of 12%[4] - Free cash flow for the three months ended May 3, 2025, was $52,612, compared to $23,670 for the same period in 2024[36] - Net cash provided by operating activities was $52,612,000, compared to $23,670,000 for the same period last year, representing a significant increase[46] - Free cash flow for the three months ended May 3, 2025, was $45,692,000, up from $18,608,000 in the prior year[46] - The free cash flow margin improved to 12% from 7% year-over-year[46] - The net cash provided by operating activities margin improved to 14% from 8% year-over-year, indicating enhanced operational efficiency[46] Expenses and Investments - Operating expenses increased to $316,970 for the three months ended May 3, 2025, compared to $278,098 in the same period last year[33] - Total stock-based compensation expense-related charges increased to $84,326,000 from $72,156,000 year-over-year[46] - Research and development expenses rose to $29,556,000 from $26,264,000 in the same period last year, indicating continued investment in innovation[46] - Sales and marketing expenses increased to $25,580,000 from $20,682,000, reflecting a focus on growth initiatives[46] Assets and Liabilities - Total current assets decreased slightly to $1,132,875 as of May 3, 2025, from $1,145,154 on February 1, 2025[30] - Cash and cash equivalents increased to $259,025 as of May 3, 2025, from $227,576 on February 1, 2025[30] - Total liabilities decreased to $946,043 as of May 3, 2025, from $955,106 on February 1, 2025[30]