Looks like a solid quarter by the numbers, stock flat after hours.
- Q2 revenue of $219.3 million, representing 43% year-over-year growth
- Ending ARR of $930.0 million, representing 40% year-over-year growth
- 1,515 customers with ARR over $100,000, up 53% year-over-year
-Revenue came in about where I expected it. Revenue of $219.3M (+42.9% Y/Y) beats by $11.79M - I was hoping for at least $220M.
-Net new ARR was $74M, up from $61M last quarter
-
- 1,515 customers with ARR over $100,000, up 53% year-over-year - net add of 140 new customers! New record! Showing continued momentum. Net adds were 92, 124, 124, and 138 the last four quarters.
They showed improved operating efficiency. non-gaap gross margin up from 73% to 75% YoY, non-gaap operating margin up from -13% to -3%, Adj Free cash flow up from -25% to 2% YoY
Outlook was a little lighter than I was hoping for but they noted it is de-risked in this environment and they are very confident in it. Q4 includes an extra week, which helps.
- Q3 revenue of $223 million – $225 million, vs. consensus of $220.37M - this would represent 31-33% YoY growth
- Q3 Non-GAAP EPS of $0.00 – $0.01, vs. consensus of -$0.00.
- FY23 Revenue of $896 million – $900 million, vs. consensus of $872.87M - this would represent 37-38% YoY growth
- FY23 Non-GAAP EPS of $0.00 – $0.02, vs. consensus of -$0.02
Full Press Release:
Samsara Inc. - Samsara Reports Second Quarter Fiscal Year 2024 Financial Results
Investor Presentation: