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“We delivered a strong first quarter of the new fiscal year with Q1 revenue of $366.9 million, growing 32% year-over-year in constant currency,” said Sanjit Biswas, CEO and co-founder of Samsara. “In today’s uncertain macro environment, we are partnering with our customers to help them get more out of their labor, resources, and assets. Our AI-powered platform delivers a clear and fast ROI for our customers and improves the safety, efficiency, and sustainability of their operations.”


	Q1 FY2026			Q1 FY2025			Y/Y Change
Annual Recurring Revenue (ARR)	$	1,535.4		$	1,175.7		31		%
ARR adjusted for constant currency (1)	$	1,537.2		$	1,175.7		31		%
Total revenue	$	366.9		$	280.7		31		%

Total revenue adjusted for constant currency (1)	$	370.4		$	280.7		32		%
GAAP gross profit	$	283.7		$	212.1		$	71.6
GAAP gross margin	77		%	76		%	2		pts
Non-GAAP gross profit	$	288.1		$	215.9		$	72.2
Non-GAAP gross margin	79		%	77		%	2		pts
GAAP operating loss	$	(33.3)		$	(66.0)		$	32.7
GAAP operating margin	(9		%)	(24		%)	14		pts
Non-GAAP operating income	$	51.1		$	6.2		$	44.9
Non-GAAP operating margin	14		%	2		%	12		pts
GAAP net loss per share, basic and diluted	$	(0.04)		$	(0.10)		$	0.06

Non-GAAP net income per share, basic and diluted	$	0.11		$	0.03		$	0.08
Net cash provided by operating activities	$	52.6		$	23.7		$	28.9
Net cash provided by operating activities margin	14		%	8		%	6		pts


Adjusted free cash flow	$	45.7		$	18.6		$	27.1
Adjusted free cash flow margin	12		%	7		%	6		pts

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles (“GAAP”). See the section titled “Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures and the tables in the section titled “Reconciliation Between GAAP and Non-GAAP Financial Measures” for a reconciliation of GAAP to non-GAAP financial measures.

(2)Other than with respect to revenue growth adjusted for constant currency, a reconciliation of non-GAAP guidance financial measures to corresponding GAAP guidance financial measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty and potential variability of expenses, such as stock-based compensation expense-related charges, that may be incurred in the future and cannot be reasonably determined or predicted at this time. It is important to note that these factors could be material to our results of operations computed in accordance with GAAP.

Samsara is the pioneer of the Connected Operations® Platform, which is an open platform that connects the people, devices, and systems of some of the world’s most complex operations, allowing them to develop actionable insights and improve their operations. With tens of thousands of customers across North America and Europe, Samsara is a proud technology partner to the people who keep our global economy running, including the world’s leading organizations across industries in transportation, construction, wholesale and retail trade, field services, logistics, manufacturing, utilities and energy, government, healthcare and education, food and beverage, and others. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, the calculation of certain of our key financial and operating metrics, our market opportunity, industry developments and trends, macroeconomic conditions, customer adoption of and expected results from our Connected Operations Platform products, including cost savings and return on investment, our technological capability, including AI, and our competitive position, as well as assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and could cause actual results and events to differ. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “may,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or the negative of these terms or other comparable expressions that concern our expectations, strategies, plans, or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made, including information furnished to us by third parties that we have not independently verified, and/or management’s good faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

These risks and uncertainties include our ability to retain customers and expand the use of our solution by our customers, our ability to attract new customers, our future financial performance, including trends in revenue and annual recurring revenue, net retention rate, costs of revenue, gross profit or gross margin, operating expenses, customer counts, non-GAAP financial measures (such as revenue adjusted for constant currency, year-over-year revenue growth adjusted for constant currency, non-GAAP gross margin, non-GAAP operating margin, free cash flow and free cash flow margin, and adjusted free cash flow and adjusted free cash flow margin), our ability to achieve or maintain profitability, the demand for our products or for solutions for connected operations in general, the impact of the Russia-Ukraine conflict, geopolitical tensions involving China, the conflict in the Middle East, the emergence of public health crises, and similar macroeconomic events, including financial distress caused by bank failures, the impact of recent political elections in the United States and abroad, global supply chain challenges, foreign currency fluctuations, elevated inflation and interest rates, and changes to monetary, fiscal, and trade (including tariff) policies, on our and our customers’ and partners’ respective businesses, the length of our sales cycles, possible harm caused by a security breach or other incident affecting our or our customers’ assets or data, our ability to compete successfully in competitive markets, our ability to respond to rapid technological changes, and our ability to continue to innovate and develop new Applications. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings and reports that we may file from time to time with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under GAAP. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in our industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. In addition, free cash flow and adjusted free cash flow do not reflect our future contractual commitments or the total increase or decrease of our cash balance for a given period. These and other limitations could reduce the usefulness of these non-GAAP financial measures as analytical tools. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and to not rely on any single financial measure to evaluate our business.

Expenses Excluded from Non-GAAP Performance Financial Measures—Stock-based compensation expense-related charges include the amortization of deferred stock-based compensation expense for capitalized software and employer taxes on employee equity transactions. Stock-based compensation expense is excluded because it is a non-cash expense and is dependent on our stock price, which is beyond our control. Further, because of varying available valuation methodologies and award types, we find it useful to exclude stock-based compensation expense in order to better understand our ongoing operational performance. Employer taxes on employee equity transactions, which are a cash expense, are excluded because such taxes are directly tied to the timing and size of employee equity transactions and the future fair market value of our common stock, which may vary from period to period independent of the operating performance of our business.

Constant currency—Constant currency is a methodology for assessing how our underlying business performed excluding the effect of foreign currency rate fluctuations. To present this information, current period results for customer contracts denominated in currencies other than U.S. dollars are converted into U.S. dollars using the average currency exchange rates in effect during the comparative period, rather than the actual currency exchange rates in effect during the current period. For ARR, customer contracts denominated in currencies other than U.S. dollars are translated into U.S. dollars based on the currency exchange rate as of the day of the effective date of the contract. For guidance, currency impact on total revenue growth is derived by applying the average currency exchange rates in effect during the comparative period, rather than the currency exchange rates for the guidance period.

Customer—We define a customer as an entity, or group of affiliated entities with a shared parent organization, that has ARR of greater than $1,000 at the end of a reporting period. Determinations regarding the relationship between customer entities are primarily based on publicly available information and information supplied to us by our customers, and we have not independently verified the legal relationship between entities in all cases. Our customer count is subject to adjustments for acquisitions, spin-offs, segmentation by geography, and other market and commercial activity.

Non-GAAP Gross Profit and Non-GAAP Gross Margin—We define non-GAAP gross profit as gross profit excluding the effect of stock-based compensation expense-related charges included in cost of revenue. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of total revenue. We use non-GAAP gross profit and non-GAAP gross margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP gross profit and non-GAAP gross margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Operating Income (Loss) and Non-GAAP Operating Margin—We define non-GAAP operating income (loss) as income (loss) from operations excluding the effect of stock-based compensation expense-related charges, lease modification, impairment, and related charges, and legal settlements. Non-GAAP operating margin is defined as non-GAAP operating income (loss) as a percentage of total revenue. We use non-GAAP operating income (loss) and non-GAAP operating margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP operating income (loss) and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Share—We define non-GAAP net income (loss) as net income (loss) excluding the effect of stock-based compensation expense-related charges, lease modification, impairment, and related charges, and legal settlements. Our non-GAAP net income (loss) per share–basic is calculated by dividing non-GAAP net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Our non-GAAP net income per share–diluted is calculated by giving effect to all potentially dilutive common stock equivalents (stock options, restricted stock units, and shares issued under our 2021 Employee Stock Purchase Plan) to the extent they are dilutive. Non-GAAP net loss per share–diluted is the same as non-GAAP net loss per share–basic as the inclusion of all potential dilutive common stock equivalents would be antidilutive. We use non-GAAP net income (loss) and non-GAAP net income (loss) per share in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP net income (loss) and non-GAAP net income (loss) per share provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Free Cash Flow and Free Cash Flow Margin—We define free cash flow as net cash provided by (used in) operating activities reduced by cash used for purchases of property and equipment. Free cash flow margin is calculated as free cash flow as a percentage of total revenue. We believe that free cash flow and free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives.

Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin—We define adjusted free cash flow as free cash flow excluding the cash impact of non-recurring capital expenditures associated with the build-out of our corporate office facilities in San Francisco, California, net of tenant allowances, and legal settlements. Adjusted free cash flow margin is calculated as adjusted free cash flow as a percentage of total revenue. We believe that adjusted free cash flow and adjusted free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives by excluding the impact of non-recurring events.

An investor presentation and accompanying shareholder letter is accessible from the Samsara investor relations website at https://investors.samsara.com/. Samsara will host a live webcast to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today. The live webcast may be accessed at https://investors.samsara.com/. Following the webcast, a replay will be accessible from the same website.


	As of
	May 3, 2025		February 1, 2025
Assets
Current assets:
Cash and cash equivalents	$	259,025	$	227,576
Short-term investments	439,092		467,222
Accounts receivable, net	216,469		234,016
Inventories	37,881		38,911
Connected device costs, current	123,332		119,323
Prepaid expenses and other current assets	57,076		58,106
Total current assets	1,132,875		1,145,154
Restricted cash	21,861		18,218
Long-term investments	325,089		282,652
Property and equipment, net	62,148		58,151
Operating lease right-of-use assets	67,741		64,864
Connected device costs, non-current	244,910		242,928
Deferred commissions	215,786		209,341
Other assets, non-current	3,207		2,994
Total assets	$	2,073,617	$	2,024,302
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	22,309	$	64,017
Accrued expenses and other current liabilities	84,455		74,976
Accrued compensation and benefits	43,694		43,443
Deferred revenue, current	576,547		563,254
Operating lease liabilities, current	14,151		15,656
Total current liabilities	741,156		761,346
Deferred revenue, non-current	129,565		122,516
Operating lease liabilities, non-current	67,948		64,622
Other liabilities, non-current	7,374		6,622
Total liabilities	946,043		955,106


Stockholders’ equity:
Preferred stock	—		—
Class A common stock	12		12
Class B common stock	23		23
Class C common stock	—		—
Additional paid-in capital	2,758,992		2,680,012
Accumulated other comprehensive income (loss)	673		(846)
Accumulated deficit	(1,632,126)		(1,610,005)
Total stockholders’ equity	1,127,574		1,069,196
Total liabilities and stockholders’ equity	$	2,073,617	$	2,024,302


	Three Months Ended
		May 3, 2025		May 4, 2024
Revenue		$	366,884	$	280,726
Cost of revenue		83,169		68,625
Gross profit		283,715		212,101
Operating expenses:
Research and development		83,242		72,973
Sales and marketing		165,400		147,437
General and administrative		68,328		57,688



Total operating expenses		316,970		278,098
Loss from operations		(33,255)		(65,997)
Interest income and other income, net		12,723		10,084
Loss before provision for income taxes		(20,532)		(55,913)
Provision for income taxes		1,589		376
Net loss		$	(22,121)	$	(56,289)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax		960		100
Unrealized gains (losses) on investments, net of tax		559		(1,687)
Other comprehensive income (loss)		1,519		(1,587)
Comprehensive loss		$	(20,602)	$	(57,876)
Basic and diluted net loss per share:
Net loss per share attributable to common stockholders, basic and diluted		$	(0.04)	$	(0.10)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		567,740,728		548,652,306


	Three Months Ended
		May 3, 2025		May 4, 2024
Operating activities
Net loss		$	(22,121)	$	(56,289)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		5,142		4,455
Stock-based compensation expense		77,079		64,656



Net accretion of discounts on investments		(2,582)		(3,993)




Other non-cash adjustments		(348)		1,330
Changes in operating assets and liabilities:
Accounts receivable, net		15,902		15,862
Inventories		1,114		(8,272)
Prepaid expenses and other current assets		1,040		3,932
Connected device costs		(5,960)		(6,059)
Deferred commissions		(6,435)		(5,117)
Other assets, non-current		(13)		315
Accounts payable and other liabilities		(31,236)		(9,664)
Deferred revenue		20,610		22,531
Operating lease right-of-use assets and liabilities, net		420		(17)
Net cash provided by operating activities		52,612		23,670
Investing activities
Purchases of property and equipment		(6,920)		(5,062)
Purchases of investments		(173,141)		(142,313)

Proceeds from maturities and redemptions of investments		161,972		150,426
Other investing activities		(200)		—
Net cash provided by (used in) investing activities		(18,289)		3,051
Financing activities



Proceeds from issuance of common stock in connection with equity compensation plans		22		808






Payment of principal on finance leases		(378)		(496)
Net cash provided by (used in) financing activities		(356)		312
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash		1,125		(103)
Net increase in cash, cash equivalents, and restricted cash		35,092		26,930
Cash, cash equivalents, and restricted cash, beginning of period		245,794		154,738
Cash, cash equivalents, and restricted cash, end of period		$	280,886	$	181,668


	Three Months Ended
		May 3, 2025			May 4, 2024
Total revenue and revenue growth reconciliation
GAAP revenue		$	366,884		$	280,726


Add:
Constant currency adjustment		3,565			—
Revenue adjusted for constant currency (1)		$	370,449		$	280,726
GAAP revenue growth		31		%	37		%
Revenue growth adjusted for constant currency (1)		32		%	37		%

Gross profit and gross margin reconciliation
GAAP gross profit		$	283,715		$	212,101
Add:


Stock-based compensation expense-related charges (2)		4,361			3,766
Non-GAAP gross profit		$	288,076		$	215,867
GAAP gross margin		77		%	76		%
Non-GAAP gross margin		79		%	77		%

Operating income (loss) and operating margin reconciliation
GAAP loss from operations		$	(33,255)		$	(65,997)
Add:


Stock-based compensation expense-related charges (2)		84,326			72,156



Non-GAAP operating income		$	51,071		$	6,159
GAAP operating margin		(9		%)	(24		%)
Non-GAAP operating margin		14		%	2		%

Net income (loss) reconciliation
GAAP net loss		$	(22,121)		$	(56,289)
Add:


Stock-based compensation expense-related charges		84,326			72,156




Non-GAAP net income (3)		$	62,205		$	15,867


	Three Months Ended
		May 3, 2025		May 4, 2024
Net income (loss) per share, basic and diluted, reconciliation
GAAP net loss per share attributable to common stockholders, basic		$	(0.04)	$	(0.10)
Total impact on net loss per share, basic, from non-GAAP adjustments		0.15		0.13
Non-GAAP net income per share attributable to common stockholders, basic		$	0.11	$	0.03

GAAP net loss per share attributable to common stockholders, diluted		$	(0.04)	$	(0.10)
Total impact on net loss per share, diluted, from non-GAAP adjustments		0.15		0.13
Non-GAAP net income per share attributable to common stockholders, diluted (4)		$	0.11	$	0.03

Weighted-average shares used in computing GAAP net loss per share attributable to common stockholders, basic and diluted		567,740,728		548,652,306
Weighted-average shares used in computing non-GAAP net income per share attributable to common stockholders, basic		567,740,728		548,652,306
Weighted-average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted (4)		582,805,383		573,154,525


	Three Months Ended
		May 3, 2025			May 4, 2024
Free cash flow, adjusted free cash flow, free cash flow margin, and adjusted free cash flow margin reconciliation
Net cash provided by operating activities		$	52,612		$	23,670
Purchases of property and equipment		(6,920)			(5,062)
Free cash flow		45,692			18,608


Adjusted free cash flow		$	45,692		$	18,608
Net cash provided by operating activities margin		14		%	8		%
Free cash flow margin		12		%	7		%
Adjusted free cash flow margin		12		%	7		%

(5)Stock-based compensation expense-related charges included amortization of capitalized stock-based compensation expense of approximately $0.7 million and $0.5 million for the three months ended May 3, 2025 and May 4, 2024, respectively, which was initially capitalized as capitalized software. Stock-based compensation expense-related charges also included approximately $6.5 million and $7.0 million of employer taxes on employee equity transactions for the three months ended May 3, 2025 and May 4, 2024, respectively.