Samsara, Inc. (IOT) reported third-quarter earnings Thursday that cleared Wall Street's bar, though investors seemed content to take the news in stride—the stock traded mostly flat in extended hours.
The Numbers: Samsara posted earnings of 15 cents per share, topping analyst estimates of 12 cents. Revenue came in at $415.98 million, beating the Street's expectation of $398.47 million and representing solid growth from $321.98 million in the same quarter last year.
What Stood Out: Beyond the headline numbers, Samsara delivered several noteworthy metrics that paint a picture of a company hitting its stride. Annual Recurring Revenue reached $1.75 billion, marking 29% year-over-year growth both in actual figures and constant currency terms.
The customer base is getting more valuable, too. Samsara now counts 2,990 customers with ARR exceeding $100,000—that's 219 new customers in that category just this quarter. At the top end, the company added 17 customers with over $1 million in ARR, bringing that total to 164.
Perhaps most significant: Samsara achieved its first quarter of GAAP profitability, a milestone that matters for a growth-stage company navigating the balance between expansion and financial discipline.
"Samsara had another strong quarter of durable and efficient growth, ending Q3 with $1.75 billion in ARR," said Sanjit Biswas, CEO of Samsara.
"Our momentum is driven by our partnership with some of the world's largest and most complex physical operations organizations," Biswas added.
Stock Movement: Samsara shares were down 0.27% to $40.71 in Thursday's extended trading.
