Samsara Inc. - IOT STOCK NEWS

Samsara (NYSE: IOT) has announced it will release its third quarter fiscal year 2025 financial results on December 5, 2024, after U.S. market close. The company will host a live webcast at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results. A replay of the webcast will be available on Samsara's investor relations website at investors.samsara.com.

Samsara Inc. (NYSE: IOT) has launched its Drowsiness Detection feature globally, using AI models to detect signs of driver fatigue. The system triggers real-time in-cab audio alerts and notifies managers, aiming to reduce drowsy driving and improve road safety. Trained on 38 billion minutes of video footage, Samsara's AI considers multiple behaviors indicating fatigue, including head nodding, slouching, and prolonged eye closure.

Early adopters have reported significant decreases in drivers falling asleep during shifts. The feature is part of Samsara's Video-Based Safety solutions, which have helped prevent over 200,000 crashes among customers worldwide in one year. Drowsiness Detection is now generally available to Samsara customers globally, leveraging the company's extensive dataset to enhance accuracy and impact in detecting this critical safety issue.

Samsara (NYSE: IOT), the pioneer of the Connected Operations Cloud, has enabled Otto Car, Europe's largest provider of private hire vehicles, to accurately track and measure its sustainability progress. Using Samsara's fleet management solutions, Otto Car has proven a cut in CO2 emissions of 50,000 tonnes in just 12 months.

Otto Car can now access real-time data from its 5,600 vehicles (4,000 of which are electric) used by rideshare drivers in London. Samsara's technology provides critical insights on battery levels, driver miles, optimal routes, and idling time, helping Otto Car minimize its fleet's environmental impact.

Gurinder Dhillon, founder of Otto Car, emphasized the importance of sustainability in future business success, while Philip van der Wilt, SVP and GM EMEA at Samsara, highlighted how the Connected Operations Cloud enables fleet-based businesses to achieve sustainability goals while improving efficiency.

Samsara Inc. (NYSE: IOT) has announced a new integration with Esri to enhance fleet management and real-time reporting for government agencies. The integration combines Samsara's telematics data with Esri's ArcGIS Velocity, allowing public sector organizations to:

• Elevate citizen services
• Drive operational efficiency
• Improve community safety

Key advantages include enhanced asset recovery, optimized emergency response, and comprehensive post-event reporting. This partnership aims to eliminate data silos, provide real-time visibility, and increase efficiency for public sector fleets. The integration is now available globally to customers through the Samsara App Marketplace.

Samsara Inc. (NYSE: IOT) has been included in FORTUNE's 2024 Change the World list, recognizing companies that drive positive social impact through their core business strategy. The company's impact through its Video-Based Safety solution was a key factor in this recognition. Samsara's customers, representing vital physical operations sectors, collectively travel 70B+ miles annually with the company's support.

Samsara's AI Dash Cams have helped prevent over 200,000 vehicle crashes in a single year. The company has also introduced new AI detections for Drowsiness, Forward Collisions, and Lane Departures. Additionally, Samsara has digitized over 265 million workflows and helped prevent more than 3 billion pounds of CO2 from entering the atmosphere, contributing to efficiency and sustainability benefits for its customers.

Samsara Inc. (NYSE: IOT) reported strong Q2 FY2025 financial results, showcasing 37% year-over-year revenue growth to $300.2 million and 36% year-over-year ARR growth to $1.264 billion. The company achieved a quarterly record non-GAAP operating margin of 6%. Key highlights include:

- 2,133 customers with ARR over $100,000, up 41% year-over-year
- GAAP gross margin improved to 76%, up 2 percentage points
- Non-GAAP gross margin reached 77%, also up 2 percentage points
- GAAP net loss per share decreased to $0.09 from $0.11 year-over-year
- Non-GAAP net income per share increased to $0.05 from $0.01 year-over-year

Samsara provided a positive outlook for Q3 and FY2025, projecting continued revenue growth and improved non-GAAP operating margins.

Lanes Group, the UK's largest wastewater solutions provider, has significantly improved its fleet safety by implementing Samsara's Connected Operations™ Cloud. In just eight months, the company achieved a 72% increase in driver safety scores and a 180% rise in drivers achieving 'elite' safety status. Key improvements include:

- 92% reduction in mobile phone usage
- 25% decrease in severe speeding incidents
- 67% drop in obstructed camera rates
- £3,000 decrease in average claim value

Samsara's AI dash cams, Vehicle Gateways, and Digital Workflows provided Lanes Group with important data to identify risks and shape incentive programs. The company aims to achieve a hyper-efficient, fully paperless workforce by 2025 through continued digitization.

Samsara Inc. (NYSE: IOT) has appointed Meagen Eisenberg as its new Chief Marketing Officer, effective August 28, 2024. Eisenberg, a veteran marketing executive with nearly 25 years of leadership experience, joins Samsara from Lacework, where she served as CMO since 2022. She has previously held CMO positions at MongoDB and TripActions.

Eisenberg will report directly to Samsara's CEO and Co-founder, Sanjit Biswas. Her appointment comes at a time of sustained growth for Samsara, a pioneer in the Connected Operations™ Cloud. Biswas expressed confidence in Eisenberg's ability to strengthen customer connections and expand Samsara's market presence, citing her deep industry expertise and understanding of customer and market dynamics.

Samsara Inc. (NYSE: IOT) has appointed Alyssa Henry to its Board of Directors. Henry brings over 25 years of leadership experience in software engineering and development, having served as CEO of Square at Block, Inc. and held key positions at Amazon Web Services and Microsoft. Her appointment comes as Samsara's innovation drives significant multi-product adoption, with its Video-Based Safety and Vehicle Telematics applications each exceeding $450 million in annual recurring revenue (ARR), and Equipment Monitoring reaching over $125 million in ARR. All three product categories are experiencing rapid growth, exceeding 30% year-over-year in Q1 FY2025. This addition to the board underscores Samsara's commitment to customer-centric product innovation and operational excellence.