Summary by Moomoo AI
Samsara, a company specializing in IoT solutions for operations, reported a significant year-over-year revenue growth of 44%, with revenue increasing from $652.5 million in the fiscal year 2023 to $937.4 million in the fiscal year 2024. Despite this growth, the company experienced a net loss of $286.7 million in fiscal year 2024, compared to a net loss of $247.4 million in the previous year. The company attributes the revenue increase to a rise in customer count and expanded sales to existing customers, including subscriptions to additional applications. Samsara's business model is heavily reliant on subscriptions to its Connected Operations Cloud, which accounted for approximately 98% of its revenue in the past two fiscal years. The company's customer base has grown, with more than 16,000 customers contributing...Show More