Samsara (US:IOT)2024-03-07 21:11Revenue Growth - Fiscal Year 2024 ended with $1.1 billion in Annual Recurring Revenue (ARR), a 39% year-over-year growth[3] - Q4 FY2024 total revenue reached $276.3 million, representing a 48% year-over-year increase[4] - Adjusted total revenue for Q4 FY2024 was $256.5 million, reflecting a 37% year-over-year growth[4] - For Q1 FY2025, the company expects total revenue between $271 million and $273 million, indicating a year-over-year growth of 33% to 34%[7] - The fiscal year 2025 revenue guidance is projected to be between $1.186 billion and $1.196 billion, with a year-over-year growth of 27% to 28%[7] Profitability and Margins - The company recorded a GAAP gross profit of $207.3 million in Q4 FY2024, with a gross margin of 75%[4] - Non-GAAP operating income for Q4 FY2024 was $13.5 million, resulting in a non-GAAP operating margin of 5%[4] - Non-GAAP net loss for the three months ended February 3, 2024, was $113.4 million, compared to a loss of $53.6 million for the same period last year[29] - Gross profit for the three months ended February 3, 2024, was $207.3 million, up from $135.0 million, indicating a gross margin improvement[29] - The company reported a net loss per share of $0.21 for the three months ended February 3, 2024, compared to a loss of $0.10 per share in the prior year[29] - GAAP net loss for the three months ended February 3, 2024, was $(113,371), compared to $(53,598) for the same period last year[37] - The company reported a GAAP operating margin of (45)% for the three months ended February 3, 2024, compared to (32)% in the previous year[34] Customer Growth - The number of customers with ARR over $100,000 increased by 49% year-over-year, totaling 1,848 customers[4] Cash Flow and Expenses - Adjusted free cash flow for FY2024 was $27.1 million, a significant improvement from a net cash used in operating activities of $(110.0) million in FY2023[5] - The company achieved its first year of positive adjusted free cash flow in FY2024[3] - Free cash flow for the fiscal year ended February 3, 2024, was negative $11.8 million, compared to negative $103.0 million in the prior year[30] - Adjusted free cash flow for the three months ended February 3, 2024, was $16,027, compared to a negative $6,023 in the same period last year[41] - Total operating expenses for the three months ended February 3, 2024, were $330.3 million, compared to $195.0 million in the same period last year, driven by increased research and development and sales and marketing expenses[29] - Total stock-based compensation expense-related charges for the fiscal year ended February 3, 2024, amounted to $251,190, up from $181,424 in the previous year[41] Assets and Liabilities - Cash and cash equivalents as of February 3, 2024, were $135.5 million, down from $200.7 million as of January 28, 2023[26] - Total assets increased to $1.73 billion as of February 3, 2024, from $1.62 billion a year earlier[26] - Deferred revenue increased to $426.4 million as of February 3, 2024, from $300.1 million a year earlier, indicating strong future revenue recognition[26] Future Investments - The company plans to continue investing in research and development to enhance its product offerings and expand market presence[29] One-time Charges - The company recognized a one-time operating expense charge of $68.7 million related to a lease settlement in January 2024[41]