-Quick Take - Wow! Looks like Samsara just crushed it. They beat by almost $12 million, and the Guidance looks great, they should easily grow 40%+ next quarter with a solid beat. As they noted in the Investor Presentation, they are operating in rarified air with $1B+ ARR, 30%+ growth, and FCF Positive. Only NET, CRWD, SNOW, ZS, Unity, and Bill can claim to be in this position as well. Stock up 15% AH
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Q3 Non-GAAP EPS of $0.04 beats by $0.03.
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Revenue of $237.5M (+39.9% Y/Y) beats by $11.77M.
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Q4 FY2024 Outlook
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Total revenue: $257 million – $259 million or 39% top line
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Non-GAAP net income per share, diluted: $0.02 – $0.03
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FY 2024 Outlook
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Total revenue: $918 million – $920 million or 41% top line
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Non-GAAP net income per share, diluted: $0.05 – $0.06
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Ending ARR of $1.003 billion, representing 39% year-over-year growth
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1,663 customers with ARR over $100,000, up 49% year-over-year - net add of 148 new customers! Another new record! Showing continued momentum. Net adds were 124, 124, 138, and 140 the last four quarters.
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$1M+ ARR Customers up 54% YoY
“We achieved an important milestone this quarter as we surpassed $1 billion in ARR in just our eighth year of selling,” said Sanjit Biswas, CEO and co-founder of Samsara. “As a strategic partner to the world’s leading and most complex physical operations organizations, we look forward to the continued partnership and the impact we will make on their communities as we work to improve the safety, efficiency, and sustainability of their operations.”
Samsara Inc. - Samsara Reports Third Quarter Fiscal Year 2024 Financial Results