01—Abstract
Summary
Summary of the 10-Q filed June 10, 2025. Cited figures are marked; the original filing is the authoritative source.
Samsara Inc. reported revenue of $366.9 milliona for the three months ended May 3, 2025, up from $280.7 million a year earlier, representing year-over-year growth of 31%.
The company narrowed its net loss to $22.1 millionb from $56.3 million in the prior-year quarter. Loss from operations improved to $33.3 million from $65.997 million, and gross margin rose to 77% from 76%. Stock-based compensation expense was $77.1 million for the quarter, and non-GAAP operating income was $51.1 million compared with $6.2 million a year earlier.
Cash flow improved, with net cash provided by operating activities of $52.6 millionc versus $23.7 million, and free cash flow of $45.7 million versus $18.6 million. Cash, cash equivalents, and short-term and long-term investments totaled $1,023.2 million as of May 3, 2025. Annual recurring revenue (ARR) reached $1,535.4 million, up from $1,175.7 million, and the number of customers over $100,000 in ARR rose to 2,638 from 1,953, though the company changed its customer definition, so the prior-period count was adjusted.
Remaining performance obligations were $2,755.5 milliond, of which approximately $1,311.5 million is expected to be recognized over the next 12 months. The filing also disclosed an accumulated deficit of $1,632.1 million and a full valuation allowance against U.S. deferred tax assets.
Management stated that existing cash and investments are sufficient for at least the next 12 months, while noting it may need additional capital if it generates negative cash flows in future quarters. In Item 5, the company disclosed that Ben Kirchhoff was appointed principal accounting officer effective June 11, 2025, succeeding CFO Dominic Phillips in that role.
02—Key points
Key Highlights
- Revenue of $366.9 million, up 31% year over year from $280.7 million
- Net loss narrowed to $22.1 million from $56.3 million; loss from operations improved to $33.3 million from $66.0 million
- Gross margin rose to 77% from 76%; non-GAAP operating margin was 14% versus 2% a year earlier
- Operating cash flow of $52.6 million and free cash flow of $45.7 million, compared with $23.7 million and $18.6 million in the prior-year quarter
- ARR of $1,535.4 million versus $1,175.7 million; customers over $100,000 ARR rose to 2,638 (customer definition updated)
- Remaining performance obligations of $2,755.5 million, with approximately $1,311.5 million expected within 12 months
- Cash, equivalents and investments of $1,023.2 million; management expects these to fund operations for at least 12 months
03—One dollar
Follow one dollar
For each $1.00 of revenue in Q1 FY2026, Samsara lost $0.06.
- Revenue$366.9M100.0%
- Cost of revenue−$83.2M22.7%
- Gross profit$283.7M77.3%
- Operating costs−$317.0M86.4%
- Operating income−$33.3M9.1%
- Interest, other & tax$11.1M3.0%
- Net income−$22.1M6.0%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed June 10, 2025Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $366.88M$280.73M | +30.7% |
| Cost of Revenue | $83.17M$68.63M | +21.2% |
| Gross Profit | $283.71M$212.10M | +33.8% |
| R&D Expenses | $83.24M$72.97M | +14.1% |
| Operating Expenses | $316.97M$278.10M | +14.0% |
| Operating Income | -$33.26M-$66.00M | +49.6% |
| Net Income | -$22.12M-$56.29M | +60.7% |
| EPS (Basic) | $-0.04$-0.10 | +60.0% |
| EPS (Diluted) | $-0.04$-0.10 | +60.0% |
| Shares Outstanding (Basic) | 567.74M548.65M | +3.5% |
| Shares Outstanding (Diluted) | 567.74M548.65M | +3.5% |
05—Questions
Frequently Asked Questions
How much did Samsara's revenue grow, and what drove it?
Revenue increased $86.2 million, or 31%, to $366.9 million for the quarter ended May 3, 2025. The filing attributes the increase primarily to a higher customer count and increased purchases of subscriptions, including additional Applications, by existing customers.
Is Samsara still losing money, and is the trend improving?
Yes, the company still reported a GAAP net loss of $22.1 million, but this was smaller than the $56.3 million loss a year earlier. Non-GAAP net income was $62.2 million, compared with $15.9 million in the prior-year quarter, and the filing reconciles this figure to GAAP net loss by adding back stock-based compensation expense-related charges of $84.3 million.
Does Samsara have enough cash to operate?
Management said existing cash, cash equivalents, and short-term and long-term investments of $1,023.2 million are sufficient for working capital and capital expenditure needs for at least the next 12 months. It also noted that it may require additional capital, particularly if it generates negative cash flows in future quarters, and may need to raise equity or debt financing.
What is the company's contracted future revenue?
Remaining performance obligations were $2,755.5 million as of May 3, 2025, of which approximately $1,311.5 million is expected to be recognized as revenue over the next 12 months.
Were there any notable management or governance changes?
Ben Kirchhoff, Senior Vice President and Chief Accounting Officer, was appointed principal accounting officer effective June 11, 2025. CFO Dominic Phillips will remain principal financial officer but will no longer serve as principal accounting officer.
06—Continue