Thought I’d take a few moments to catch up with the Bessemer Venture Partners Index of top revenue growers. So I did.
1). Samsara (IOT)
Revenue Growth: 48.1%
What IOT does:
Samsara Inc. provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company’s Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.
What Samsara says about Samsara:
OUR MISSION
Improve the safety, efficiency, and sustainability of the operations that power the global economy.
Each day, millions of people work to ensure our communities run smoothly. They are the frontlines that build our cities. Deliver our goods. Keep the water running and the lights on. Samsara is working every day to make this essential work better, safer, and easier—for organizations managing complex physical operations and the people that power them.
Current Data:
Current Price: $39.84
52 Wk Range: 18.24 - 40.69
Market Cap: 21.9B +/-
YTD Momentum: +19.35%
EV/Forward Rev: 15.9.
Gross Margin: 75%
Latest QRTLY Report:
Conf Call:
Highlights:
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We added a quarterly record $99 million of net new ARR or an increase of 39% year-over-year, our highest growth rate over the past 10 quarters.
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Q4 revenue was $276 million, growing 48% year-over-year, or 37% adjusted revenue growth. Special Note: There was an extra week in the 4th QTR.
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We now have 1,848 $100,000-plus ARR customers, a quarterly record increase of 185, representing 49% year-over-year growth, the same growth rate as last quarter at a larger scale.
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We now have 82 $1 million-plus ARR customers, a quarterly record increase of 11, representing 61% year-over-year growth, accelerating from 54% growth
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And all of our top 10 new customers signed multi-product transactions.
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For expansions, we booked a quarterly record six $1 million-plus expansion deals and eight of the top 10 expansions in Q4 were multi-product transactions.
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Non-GAAP gross margin was 76% in Q4, a quarterly record and approximately 3 percentage points higher year-over-year, driven largely by optimizing cloud, cellular, warranty, and support costs.
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Non-GAAP operating margin was 5% compared to negative 8% in Q4 last year, an improvement of approximately 13 percentage points year-over-year, driven by leverage across all functions.
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Adjusted free cash flow margin was 6% in Q4, a quarterly record, compared to negative 3% in Q4 last year, an improvement of approximately 9 percentage points
Last 4 Quarters Revenue Growth:
48.1% (Aided by Extra Week in Qtr)
39.9
42.8
43.2
Guidance QTR 1 FY2025: $271 - 273M = Rev Grow of 33-34%
Note: My very own Semi-Silent Monks of the Woeful Countenance estimate for IOT Q1 FY 2025 is 36.7% . This is a 5 Star Lock - sorta and unless - something else different happens. To be fair - if something else different happens, then my guidance estimate is reduced to 4 Star Semi-Lock status. Whatever -Give the Points here.
Couple of Pro IOT Scouting Reports:
Final Note: IOT is currently in the Semi Silent Monks of the Woeful Countenance Growth Portfolio.
Next Up BVP #2
All the Best,
BDH Investing
I like fishing on the top of the water and is why I always fly fish.