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Samsara | 10-K: Annual report

SEC announcement ·  Mar 26 16:31
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
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 $10,000 or more in annual recurring revenue (ARR), and 92% of ARR coming from these core customers. Samsara's ARR reached $1.1 billion as of February 3, 2024, a significant increase from $795 million the previous year. The company's focus on larger customers is evident, with 52% of ARR coming from customers representing over $100,000 in ARR. Samsara's future plans include continued investment in sales and marketing to drive new customer acquisition, expansion within its existing customer base, and innovation to enhance its Connected Operations Cloud. The company also plans to scale its headcount to support growth and drive revenue globally. However, Samsara acknowledges the potential impact of macroeconomic trends on its business and results of operations.
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