Samsara Inc, a leading provider of Internet of Things (IoT) solutions, has delivered impressive financial results for the second quarter, sending its shares soaring in after-hours trading. The company reported revenue of $300.2 million, comfortably surpassing analysts’ estimates of $289.54 million. Furthermore, Samsara’s earnings per share (EPS) reached 5 cents, exceeding expectations of 1 cent.
This strong performance reflects a 37% year-over-year increase in total revenue. Samsara also reported a remarkable 37% year-over-year growth in its annual recurring revenue (ARR), reaching $1.264 billion by the end of the quarter. The company further highlighted its expanding customer base, noting that it now has 2,133 customers with ARR exceeding $100,000.
“We achieved another strong quarter of durable and efficient growth at a greater scale. Q2 ended at $1.264 billion in ARR, growing 36% year-over-year, and at a quarterly record non-GAAP operating margin,” said Sanjit Biswas, co-founder and CEO of Samsara. He emphasized the company’s growing data asset, stating: “As we grow our business, our data asset also scales. We’re proud to have achieved an important company milestone this quarter — we now collect more than 10 trillion data points annually on the Samsara platform.”
Looking ahead, Samsara is projecting third-quarter revenue between $309 million and $311 million. The company anticipates adjusted earnings per share of 3 to 4 cents for the third quarter. Furthermore, Samsara has raised its fiscal year 2025 guidance. The company now expects full-year revenue between $1.224 billion and $1.228 billion, exceeding analyst estimates of $1.213 billion. The company also projects full-year adjusted earnings between 16 and 18 cents per share, exceeding estimates of 13 cents per share.
The positive results and optimistic outlook have clearly resonated with investors. Samsara’s shares surged 5.99% in after-hours trading, reaching $41.07 per share. This impressive performance reinforces Samsara’s position as a key player in the rapidly expanding IoT sector.
