Samsara Marks a Milestone Year of Impact with Global Customers

Rhea-AI Summary

Samsara Inc. (NYSE: IOT) announces impressive growth figures for fiscal year 2024, including $1.1 billion in annual recurring revenue, 39% YoY revenue growth, and 49% YoY growth in $100K+ ARR customers. The platform processed over 9 trillion data points, supported 75 billion API calls, and expanded its App Marketplace to 270+ partner integrations.

Positive

• Samsara achieved $1.1 billion in annual recurring revenue in FY24, marking a 39% YoY revenue growth.
• The number of $100K+ ARR customers grew by 49% YoY, showcasing the platform's increasing adoption and value.
• The platform processed over 9 trillion data points, highlighting its data-driven approach and AI-driven insights.
• Samsara supported 75 billion API calls, indicating the platform's scalability and integration capabilities.
• The App Marketplace expanded to 270+ partner integrations, solidifying Samsara's position as the largest open ecosystem for physical operations.

Negative

• None.

Insights

Market Research Analyst

The reported annual recurring revenue (ARR) of $1.1 billion and the 39% year-over-year growth signify a robust performance by Samsara, particularly in the competitive IoT (Internet of Things) market. This substantial increase in ARR is indicative of a growing customer base and a high retention rate, which are critical metrics for assessing the health of a SaaS (Software as a Service) business. The 49% growth in $100K+ ARR customers further underscores the company's success in penetrating larger accounts, which tend to be more stable and offer opportunities for upselling and cross-selling.

Moreover, processing 9 trillion+ data points and supporting 75 billion+ API calls reflects the scalability and robustness of Samsara's infrastructure. This high level of data processing capability is essential for AI-driven insights, which are increasingly demanded by enterprises seeking operational efficiencies. The expansion of the App Marketplace to 270+ partner integrations demonstrates the company's commitment to fostering an open ecosystem, which can be a significant driver for innovation and customer satisfaction.

Financial Analyst

The financial figures presented by Samsara are likely to influence investor confidence positively. The 39% YoY revenue growth is a strong signal to the market, potentially affecting the company's stock valuation. In the context of the broader market, Samsara's performance may be compared with industry benchmarks to gauge its competitive positioning. This level of growth, if sustained, could lead to upward revisions in the stock's target price by analysts.

Furthermore, the emphasis on Samsara's Connected Operations™ Cloud as a singular system of record for physical operations highlights the strategic importance of the company's offerings in an increasingly data-driven economy. The financials suggest that the company is effectively capitalizing on the digital transformation trends across industries.

Sustainability Analyst

From a sustainability perspective, Samsara's ability to enable customers to operate more safely, efficiently and sustainably through AI-driven insights is noteworthy. The processing of trillions of data points can facilitate significant advancements in areas such as fuel efficiency, maintenance optimization and carbon footprint reduction. These capabilities align with a growing corporate focus on ESG (Environmental, Social and Governance) criteria. As businesses increasingly seek to mitigate environmental impact and improve operational sustainability, Samsara's offerings may see heightened demand, which in turn could have a favorable impact on long-term shareholder value.

SAN FRANCISCO--(BUSINESS WIRE)-- Samsara Inc. ("Samsara") (NYSE: IOT), the pioneer of the Connected Operations™ Cloud, today revealed new growth figures that showcase the strength of its platform and partnership with customers. Samsara built a multi-application platform that helps solve the pressing challenges of the world’s leading and most complex organizations. In its fiscal year 2024, Samsara:

Samsara technology deployments across North America and Europe and FY24 stats (Graphic: Business Wire)

			-		Achieved $1.1 billion in annual recurring revenue (ARR): Samsara’s role as the singular system of record for physical operations is increasing as revenues grew 39% year-over-year (YoY); its number of $100K+ ARR customers grew 49% YoY
			-		Processed 9 trillion+ data points: Samsara’s platform is powered by the flywheel of data from its customers’ growing digitization efforts, which enables AI-driven insights that help customers operate more safely, efficiently, and sustainably
			-		Supported 75 billion+ API calls: Samsara’s App Marketplace expanded to 270+ partner integrations and serves as the largest open ecosystem for physical operations

“It’s hard to drive a mile on the road without seeing a Samsara customer at work, and altogether they’re powering our global economy,” said Sanjit Biswas, CEO and co-founder at Samsara. “We’re driven by solving real-world challenges for our customers, and are excited about the impact we’ve made together. We’re still early in our journey, and are focused on building an enduring company that captures the large opportunity ahead of us.”

Samsara empowers customers to make significant improvements in their operations, benefiting their organizations and the millions of people who live in the communities they serve. Samsara has partnered with customers to:

			-		Help prevent an estimated 200,000+ crashes1, saving lives from potential harm
			-		Digitize 230 million+ workflows2, reducing paper waste and allowing thousands of hours to go toward more meaningful work
			-		Save ~2.3 billion pounds of carbon emissions from entering the atmosphere3, and millions of dollars in fuel costs

This scale of impact would not be possible without Samsara’s focus on understanding the lives of its customers and what makes them successful. The company’s boots-on-the-ground approach and customer feedback loop guides its product strategy and has led to the release of multiple new solutions this past fiscal year, including Mobile Experience Management (MEM), Virtual Coach, and Find My Asset. Samsara’s continued product innovation is fundamental to its ability to deliver fast and impactful results for organizations across industries, including:

			-		Nutrien Ag Solutions, the global leader in crop inputs and services, reduced distracted driving by 50% in only three months. Samsara is also helping Nutrien consolidate and modernize its systems so it can manage its thousands of assets in a single location.
			-		DHL, one of the largest logistics companies worldwide, consolidated seven separate point solutions to provide a better operator experience and improve driver safety and retention. As a result, DHL Supply Chain experienced a 50% decrease in driver turnover and DHL Express reduced accident-related costs by 49%.
			-		Boston, a prominent city with about 700,000 residents, uses Samsara to inform its fleet electrification and electric vehicle infrastructure strategy. It has since achieved a 36% increase in miles driven by its electric fleet and reduced carbon emissions by 513,000 pounds.

“We are grateful for the opportunity to partner with our customers as they modernize their operations. We look forward to another year of innovating and building solutions that help transform the world’s infrastructure,” continued Biswas.

To learn more about Samsara’s mission and platform, visit here.

About Samsara

Samsara (NYSE: IOT) is the pioneer of the Connected Operations™ Cloud, which is a platform that enables organizations that depend on physical operations to harness Internet of Things (IoT) data to develop actionable insights and improve their operations. With tens of thousands of customers across North America and Europe, Samsara is a proud technology partner to the people who keep our global economy running, including the world’s leading organizations across construction, transportation and warehousing, field services, manufacturing, retail, logistics, and the public sector. The company's mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

Samsara is a registered trademark of Samsara Inc. All other brand names, product names or trademarks belong to their respective holders.

¹ October 2022 - October 2023
² Stat from FY24
³ Estimate based on year-over-year reduction in idling rates per monthly available hours for cohort of 2,500+ Samsara customers observed during Q1-Q3 CY22

View source version on businesswire.com: https://www.businesswire.com/news/home/20240307166666/en/

Stephanie Burke

Samsara

media@samsara.com

Source: Samsara

FAQ

What was Samsara's annual recurring revenue in FY24?

Samsara achieved $1.1 billion in annual recurring revenue in fiscal year 2024.

How much did Samsara's revenue grow year-over-year in FY24?

Samsara's revenue grew by 39% year-over-year in fiscal year 2024.

By what percentage did the number of $100K+ ARR customers grow year-over-year?

The number of $100K+ ARR customers grew by 49% year-over-year.

How many data points did Samsara process on its platform?

Samsara processed over 9 trillion data points on its platform.

How many API calls did Samsara support?

Samsara supported 75 billion API calls.

How many partner integrations does Samsara's App Marketplace have?

Samsara's App Marketplace expanded to 270+ partner integrations.