Samsara’s Q1 Earnings Beat Estimates, Revenues Up Y/Y

Samsara (NYSE: IOT) reported non-GAAP earnings of 3 cents per share in first-quarter fiscal 2025, beating the Zacks Consensus Estimate of 2 cents. The company reported a loss of 2 cents in the previous year.
Revenues came in at $281 million, up 37% year over year. The figure beat the Zacks Consensus Estimate by 3.02%.

Top-Line Details

In the fiscal first quarter, Samsara concluded with Annual Recurring Revenues of $1.18 billion, up 37% year over year. The upside was driven by strong large customer momentum, including wins with significant clients like the Department of Transportation for Iowa and Kansas and VINCI, a major construction company.
The number of customers with ARR surpassing $100,000 reached 1,964 and increased 43% year over year. The average ARR per $100,000-plus customer also increased from $305,000 to $316,000, which is notable.

In the first fiscal quarter, Samsara saw increased adoption of its platform, with customers subscribing to multiple applications. Notably, 94% of more than $100,000 ARR customers and 83% of core customers used multiple Samsara products.
IoT’s key products, which include Video-Based Safety, Vehicle Telematics …

Full story available on Benzinga.com