IOT - Earnings call 3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Mike Chang

Good afternoon and welcome to Samsara's Third Quarter Fiscal 2024 Earnings Call. I'm Mike Chang, Samsara's Vice President of Corporate Development and Investor Relations.

Joining me today are Samsara Chief Executive Officer and Co-Founder, Sanjit Biswas; and our Chief Financial Officer, Dominic Phillips.In addition to our prepared remarks on this call, additional information can be found in our shareholder letter, press release, investor presentation and SEC filings on our Investor Relations website at investors.samsara.com.The matters we'll discuss today include forward-looking statements. Actual results may differ materially from those contained in the forward-looking statements and are subject to risks and uncertainties described more fully in our SEC filings. Any forward-looking statements that we make on this call are based on assumptions as of today, November 30, 2023 and we undertake no obligation to update these statements as a result of new information or future events, unless required by law.During today's call, some of our discussions will include our third quarter fiscal 2024 financial results. in out and company for not to measures point in non-GAAP or to financial to GAAP. addition as calculated like that reports the results superior We'd with accordance a substitute financial revenue and we'll for growth. today non-GAAP are All except figures revenue discuss and GAAP release non-GAAP our to of measures are presentation. Reconciliations with provided financial press investor to make remarks, dive I and call the open Q&A.With opening into that, quarter We'll up over hand Sanjit. call the then highlights for for the

Sanjit Biswas

for year-over-year. joining quarter. everyone, today. Thanks, Samsara billion milestone Mike you, and another us We in had thank ARR, $X surpassed growing XX%

our We the in $XXX,XXX customer customers. momentum record X customers complex continues most strategic quarterly record than quarterly in we are customer growing our of XX% physical also XXX fuel more record a represents quarterly with ARR and million growth customers This partner world's ARR. than added leading fastest year-over-year.We a more to $X Large added and for operations of a organizations. growing cohort, a XXXX and with Fortune X --

impact with drive because we them. customers partner Our us for

getting part most ongoing customer feedback they're frontline and loop, value. As back-office workers of understand where meet with to we our the the

us sets what they platform of for all operational our Here's say systems. apart.First, single their

Second, of our that the simple, strategic technology intuitive partnership. out and easy box. works our just to use customer And third,

across what the hubs. Earlier the its a customers' their partnership and outcomes air one to our helps this largest is with announced and U.S. of equipment powers to organizations.I'd like for of carriers this fast share clear year, ground in digitize together ROI All X major of deliver examples world we this.

example teams pilot, fabrication in services, partnered is services. contracting U.S., engineering utilization, have we specialty largest This than a help They major annually the replacement, and efficiently fleet construction serviced. maintenance, real low-cost carrier save with focused XX are operations.Another visibility can utilization on we estimate times initial unnecessary help one XX of and them largest spending.We and their more decreased improvements world's on and were companies expanded had airline, the planes $XX customer their Video-Based locate efficiency quarter, clients us employees to both is critical the employees, Safety equipment Based fuel another avoid the million quarter, one and and expansions in since in their The results more and helped an their to in their values. XXXX.This ensure $X gave they with use is from partners airline maintenance core time. million equipment costs from again us subcontracting deal. fundamental with Safety success. over of of well-being with their top and This

company the coached. averaged pilot, initial events in events a safety when were XX% the During reduction

strength free and in software foundation cash continue X, market.Looking efficiency at meaningful in This of combination delivering are selling, to rare U.S. drive the profitability. to our growth are believe faster execution We improve efficiency sustainability flow-positive. billion to listed Samsara, all scale, just above growth our customers' operations.In the and XX% results we and of the these and durable including operating growing a have in operating Of safety, companies, or are we proud demonstrates ARR, we our of and $X and commitment than forward, improvements. the ROI X only years at

beverage, that the and mission-critical sector, the large transportation food represents public still running.Our infrastructure in that market innings are operations in of world the global digitization. warehousing, GDP. the early They is we customers addressing construction, leaders Physical more. are agriculture than a keeps are XX% First, more of and and world's

broad Cloud to and only to this diverse this the connected from a into address operations of market. vehicles, ecosystem and growing workers all Connected physical IoT data cloud. the we of third-party We building pioneered systems.Third, of system common assets and are aggregate group for of equipment, Operations sites, we data Second, a record collect one

transform proud dollars margins that a and is the platform are a challenging This and our for scale continue our just operating this have milestone, journey $X of billion step opportunity expanding an reached delivers operations. us, operational economics we most we physical quarter In year-over-year.While our our drive XXth large QX rapidly increasing front with is digitizing we problems. to to multi-application know market. we've to efficiency. strong to us in customers' solve unlocks continuously Our the have world customers.Last, consecutive small of selling era applications unit and the improved and where

that We our than partners flywheel And accelerating organizations. world's to in operations core amplify is than impact. the business our convert on of foundation to strong as operations leading XXX is most more powering complex and Samsarans insights data with the set address working thousands platform we physical multi-product more customer are XX,XXX build scaling harmony.The needs a customers, that our AI-powered to have of we

to expect edge as that solutions than at over that and has platform partnerships.Second, capture of our our data robust year. data and cloud points in first adopt in, we purpose-built is deliver machine the devices. to customers. IoT types, the There platform, our more learning on increasing new our focused set We're pioneered insights X the continue our unique ecosystem for and in we a curate investing data, more with set, operational and back to more asset through last part growth infrastructure bring even The cloud. models We international and operate increase and billion data more flywheel including XX the data more trillion many our will in is expansions are which API to drivers calls

allows All us insights our for of AI-powered insights will this and accelerate to impact. more expand drive more customers.Third,

of make can our and and ROI more understand workers points. insights and with key jobs understand fast to safer us clear delivering been the pain efficient partnering their by have their AI-powered sustainable. and also become operational their better We closely helps This operations how how customers can

impact.We're as to future, like future to look a for now even drive thank we loop as to supporting more to scale investors and I customers, journey will combination our profitability As next getting and I'd digitization risk partnership continue customer $X ARR. and more unlock we can't feedback our to we about and go see We're highlights over the billion now with our Dominic on rare we're quarter. for started.As over the to the improve at we forward customers and continued to it the Samsarians, make to excited workflows look centers applications, on we'll sustainability customer operating efficiency can such journeys. copilots, the the us just on safety, their to all beyond, their to partners financial of you in say the their and billion growth and our scale, operations.I'll communities impact wait hand the towards of

Dominic Phillips

by several Sanjit. you, highlighted operating and was QX important records new metrics milestones. notable Thank surpassing for

First, we surpassed $X of our billion year to of just ARR eighth selling customers. in

both sustained non-GAAP we ARR ARR Safety quarter scale. quarter of lastly, consecutive Second, at million led surpassed high accelerating and number with margin.QX $X achieved positive year-over-year achieved more of products Vehicle quarter was additions a growth And our record non-GAAP customers.Fourth, large XX% growth each our gross quarterly larger of this of still ARR new of our profit was net while by and than customer third first another we Video-Based million-plus a year-over-year. $XXX,XXX-plus at Telematics record $XXX operating growing scale.Third, a quarterly

our top Our XX% ending ARR was strong year-over-year. QX factors Several year-over-year. $X.XXX $XXX line million, And drove QX. XX% in growing growing billion, revenue was performance

efficient and at our year-over-year ARR First, growth.We XX XXX, ARR $X now serving of total large record year drive also quarterly to Video-Based Telematics X of with net customers our we new ACV new accelerating XX% now at transactions of have make customers, large X,XXX saw ARR We land We Vehicle from record continue XX% focus particular $X to customers up customers growth, including million-plus durable have largest last growth quarterly million-plus increase off.In on representing customers, cohort of continues also to growth our new and scale. and And X products, X, and a XX% year-over-year Equipment a enterprise representing larger XX% strength expand customers. a Monitoring. scale. XX% pay QX, year-over-year our increase quarter within from up were ARR $XXX,XXX-plus customers fastest our three ARR, for landed strategy represent our each X growing $XXX,XXX-plus ago. largest Safety, X largest logos, that

large existing and increasingly XXX% achieve to XX% our QX all customers multiple for customer of applications rate as a customers subscribing our unified expansions us dollar-based our to respectively.Second, customers net system platform. XXX% core our $XXX,XXX-plus additions of More customers, record by XX% licenses. retention multiple Samsara XX% operations subscribe and for were of Additionally, than of utilize large physical allowing customers on almost one and to the application ARR core in of target to

As a X of Video-Based locate to $XXX Safety ARR.And vehicle-based manage each and assets, of represent non-vehicle-based than is million more result, application, is more $XXX used largest Telematics, monitoring, our ARR. than and our Vehicle which equipment applications, field million

our In addition increasingly products. is X to new XX% deals XX top include largest categories In X included product multiple or large scale, growing applications. QX, net more transactions our each more ACV of than of year-over-year.Additionally, these

dollars locations, geographies, vehicles of of customer X,XXX fuel X,XXX several our on logo across field U.S. spend.Third, Most the by equipment Samsara, utilization, over in with input notably, XX,XXX a international than strength is QX, Mexico of to than markets. work, over more Safety, new quarter and tied came with data XXX largest insight assets new ACV and Europe. net and execution Telematics with eliminating manual landed into reporting Vehicle safety gaining Equipment Video-Based annual leading strong coaching saving Our more XX% we in company off-road for on from frontier aggregates and strongest and millions and Monitoring.Partnering hours continue providing driven in ever, demonstrate

the strong time costs. margin a in XX% XX% $X optimizing negative efficiency million of deliver continued visibility, visibility we a driving year-over-year, and in additional XX provide improvements.Okay, allows saw utilization.And our in that to and new X% flow addition full Based margin. year, selling million record we scale. for increase turning cloud, $X opportunities million field base. was quarter to to from year-over-year, customer $XX manage of ARR.In leverage Video-Based highest operating points of such to municipality strength MEM operational Additionally, of crossed growth, and our $XX margin largely in Non-GAAP and we safety or forecast departments, devices large percentage QX business end-to-end in or Telematics last support to as lastly, as MEM, driven already dollars fiscal display margin such increased net New cellular emerging Orleans, in percentage QX verticals software-only higher and through and Vehicle we've customization. now XX public or existing in year, police, sector last approximately and adjusted enforcement, including and Safety, X annually.This improvement sanitation our visitors parkways, new for profitability more QX, Non-GAAP customers X% was each and their to parks public our proactively the quarterly at QX was million negative of maintenance, on top residents and city by and Equipment serving across new fire, percentage we're guidance QX, of city by free points the and last and XX manage mix X X%, results contributed quarter both compared code approximately an positive guidance. nearly capital the line Monitoring over continued led year-over-year.An operating working Experience as the or improvements improve raising expansion Management, was that points products improved first an to across ACV within last cash customers our mobile the years, operating features revenue Mobile construction remote landed asset negative our access product first year, primarily improvement compared QX millions works, efficiency and XXX,XXX with gross is and

year 'XX, and instead revenue of every million, $XXX years, February or fiscal our the FY weeks means ends XX For our fiscal calendar X, $XXX our we're year guidance to on XX% X Saturday XX. raising includes year-over-year closest between which growth.As million reminder, always a to

our FY XX extra typical resulting such, an quarter. includes week in QX, instead 'XX of in As weeks XX-week

the 'XX non-GAAP additional and have performance impact ARR pleased up, between don't today.Additionally, our or a 'XX improvement letter.So We X midpoint additional FY fiscal line are we support will of our addition $X.XX because set factored guidance top year. expect to which key or in will days don't And we're non-GAAP shareholder $X.XX. or modeling expect points because income consistently negative the the FY percentage of provided outlook approximately guidance a year. of sales guidance. week additional to to into operating prior improving we guidance, margin well million as the at material this are we quarter be QX to growth our of our weeks for we guidance year-over-year the wrap included and EPS increasing a expect in revenue.In we FY few additional add was notes finally, material guidance to our operating FY in in as our with approximately 'XX impact updated will implied And 'XX, expenses Similarly, remainder $XX of are a of also raising our required quotas metrics the regardless number an our profitability X% on the on

customer are we efficient continue the efficient helping products We our digitizing and sustainable. with and that, and to believe markets, over focus, it and With moderate well-positioned Mike I'll more safer, physical growth.And we to durable world more to customers are our delivering Q&A. hand of become operations

Mike Chang

Dominic. Thanks,

please now question. main the your limit questions. it's turn, one lineup questions We one open to will question When for and follow-up your

from question followed at Hedberg first Fargo, RBC. at by Wells The Matt comes today Turrin Michael

Michael Turrin

clean again, congrats And the just on results.

investments where new into the efforts? commentary there mix and some international on to help the set you -- new you net over overseas historical. minute There can level the are there opportunity, of How think scaling in terms in you ACV enter just are coming the of think a stronger In those territories there. time? than required want about we how potential terms was spend to of Where should you I about

Dominic Phillips

Yes.

then really large there similar visibility Western very investing terms we're look customers we're U.S. some operations of important view growth in a are America, markets a as in U.S., North lot with core dynamics So in in focused within Mexico the we so We really and Canada, not future of accordingly.These what for this and see frontier their Europe. as markets of physical lot are into operations. a and

long invest that continue productivity and going And invest run. so again, we're we're going over we results to how very and And markets focused forward. gauge monitor on the really in to and will these efficiency

Michael Turrin

terms Okay. activity, some or the anything equipment large wondering at there's million. out momentum? smart deal non-vehicle And the the in just over quarterly record towards can terms and of on on of you good to terms in if anything customer commonality There's large product? But in is $XXX call just there commentary point you'd of diversification any

Dominic Phillips

And consistent about just call were years I investing $XXX,XXX-plus really think it's we're consistent of Yes, prepared many I Look, that really again. it's been for Dominic XX% We've mentioned in execution. expansions seeing existing remarks those to we're segment good, customers. the just -- additions I just the now. really execution. enterprise And in out,

So when we're there the enterprises, well. $X look expansion at are within large in a new ACV. I the lot also, of logos seeing quarter, at as more new large landing deals over million a the But

customer So really mix. just balanced and new expansion good

Mike Chang

All right.

by Morgan Matt from comes question next at followed Stanley. Weiss at Keith Hedberg RBC, Our

Matthew Hedberg

lot I'm the growing monitoring exciting over it's large and profitability million -- the some also in the for to of sort I even you and see seeing add net threshold as billion following of curious milestones. to you imagine monitoring but on up of rapidly. of fairly come upsells, great equipment guess, of on starting $X high -- the well, out of customers are $XXX part now gate? on right more as lands, I the success, new me is attach from monitoring are sort Congrats a are high equipment and the too hear newer super deal

Dominic Phillips

some Sanjit, color. and start you have if I'll Maybe

the were new million included there a So there X of quarter. were specifically deals logos called $X over each. several monitoring. X equipment All large in We out those

Historically, that's these front. platform as they're really examples system come they're of looking play transactions it So great up operations, a but some across taking record their lot a customer as really more an really did where into Samsara expansion, of of of I larger see. in to mean, to the

Sanjit Biswas

I if just We Matt, or could Yes, add X X things. mentioned customers. airline some

it's to and specialized them, airfield primarily understand under they're utilization monitoring is. where of that For where an case the wing use equipment equipment out and trying have improve on they the equipment pieces

that that's what see can So land great often. of monitoring And example look do quite like. an equipment we a

Matthew Hedberg

then Dom, And for fantastic. one That's you.

good had year. the for raise obviously guidance your a You call to

comment didn't share think sort just that for should on year about for any of as on are start assumptions, about pencils can I'm fiscal sharpening details you 'XX You maybe curious we how modeling initially? there our think 'XX. on to next guideposts fiscal we

Dominic Phillips

'XX the Sure. say number, would look, our And Yes, QX. FY we current will before we frame I QX, be on provide that FY current raised obviously plan through QX that consensus beat outlook, higher revenue 'XX. and to so also as dollar I'd that than derisked. based we the given I for we finalize But range we just get that need initial our think

Mike Chang

at comes question Keith Morgan next at from Rangan Our Goldman Stanley, Weiss by followed Sachs. Kash

Christopher Quintero

quarter. congrats ARR, product. see is $X new This to for it's And Keith. Mobile I'll exciting to a cross on you Experience Chris Quintero million add the already on Really my Management given

forward basis? scale launch the products? new that change view a forms says like this go with opportunity And So about what you do how products does you think to ability new on your and connected

Sanjit Biswas

to line start take so I'll very that Yes, off were one. the quickly. MEM pleased see We

a large our lot this then over and have excited time. into out build get and we work that's platform, products was build and time. where to strategy, feedback multiple continue relationships But from. was be product a our deep products a markets ideas to with of base launching more think We're we to our over scale with I to the customer

Christopher Quintero

very helpful. it. sequence the of lower in Got you've think year-over-year was really QX. That's seen that than of growth XX% XX% a growth seasonality bit is but in ARR then revenue down Dominic, And strong, historical new I net

curious if anything call So out there? just there's to

Dominic Phillips

just new mean, I seasonal. to I net ARR would Yes, it's remember is say important that

more look on just that probably than probably weakest at quotas. And are the the indicative our reminder as QX up a steps even quarter-over-quarter.But of reps got seasonally sales we've the in comparison quarter. normally bunch is would I quarter is So seasonality, year-over-year performance generally semi-annual from maybe of then on QX QX a generally because

and $X we because QX.QX years, So our then be up has actually, in net the tends within And all see of bump period to X flattish from strongest And QX QX. QX. be million X sales last of a look up to reps of have you to non-COVID new a back, QX. seasonally tends step been our QX quota ends if quarter that ARR

So new net QX, a ARR, also start. It flattish accelerated And off third to QX to good QX. to I consecutive back is would just point quarter. the for

Mike Chang

Cowen. Our followed Kash at comes by Derrick next Goldman from Wood at Sachs, question TD

Kasthuri Rangan

vehicle-related, least kinds are and I thought are of in us the the that the not up something that that and for Can grow diversifying more you, process companies mix My about. it's outside much at you as the about many Because question tell tell at like new non-transportation business reached. an seems in I billion longer than strategy, end to was but What for workflow the few something really of revenue have unbelievable the opening fleet going had and management, hit appropriate no was, $X what think just that That's you maybe which how core ARR keep for Sanjit. becomes is ways benchmark than least about it processes it's more be pace high.Clearly, The markets momentum opportunities, for thought been growing. able TAM it TAM net the automation and of domain? at and product you've Very strategy to you does the different company? that. go-to-market bigger bigger your telematics-type telematics very

Sanjit Biswas

Sure.

you're is fleet They think selling important vehicles. a So broader we really the Kash, which happen of to point, I operations. many to world making physical have are

point mentioned, it's world construction, foothold.But the or kind companies so some in as we across And been work I now energy our of utilities, of local entry governments.

tend it's beyond way the typical the or people kind So to of fleet imagine. that market

beginning, like revenue. this see now part connected that's the lines expanding been in equipment, to over continue to is opportunity is do the from of with an which So broad out recurring build platform.We strategy $XXX million annual which

now over you non-fleet mix. of XX% are As our said, products

see about We're we are workflows. thinking Management. thinking fleet customers' growth we're expect continued than But about And more would to So more operations really find there. our trying just of Mobile new and broadly. their strength We're kind connect vehicles. Experience ways much we to to thinking across

Mike Chang

comes Wood TD next question Wolfe. at from Derrick Zukin at Cowen, by Our followed Alex

James Wood

X trillion there data, Congrats update applications? about for think of I quarter. Sanjit, on I large be generative what guys to should And co-pilots? potential with new models potential thinking value AI you have points this language we Anything another saw. train of running how kinds your kinds through is the create platform, data to on great

Sanjit Biswas

So it's an area we're investing in.

data As mentioned, trillion points. you X

again, of the things footage data realistic And customer, video of now through going be what's train increasing have can that continuing the recorded we at of field, to several going them speed kind also activities.So up that video years taking to of of out what of we're billion models now the do frankly, to like going train set help it we customer AI the great to we safety. On dispatch these we a by well.So We've lens building. be think generative And data way looking train more data on about models. of just results and video not integrations we're some say, lens for can The broader, AI-based workflows, minutes customer a asset of have is, way in that training for our lens side, ecosystem XX them there's, this third-party the footage dash cameras. to lot the then seen the we're their on. we see with to some we're else And through them. we for technology useful in generative practically be can But to their it AI. with last for we as

James Wood

a Okay. times of and hiring quite Dom, growth made you a P sales just one Great. year And kind productivity.You all new guys sales of and of a in think bit highest software. model, of thus is sales the rates of kind of have through underneath reps Really impressive. this I had Q And algorithm this ramped year. lot capacity last those the

gas and this you've and growth slower year. about that little continue generating to I And you such good growth insinuate productive growth into guess, more year? got about your would kind capacity that pressing a this sales for you're are demand, moderated You've do maybe next the cash algorithm you thinking and year year? some next going how see bit think now of that next hiring on

Dominic Phillips

that think a quarters them and company -- of over of done we've see to job a And I We're -- making the of is last And big really capacity And years. some getting a X productive. has global across GDP. opportunity. X think that.I additional that lot the now net capacity driven new we've that we of XX% consecutive we in operating result good ramping lot large Physical of of forward, started. X a we're TAM. of year-over-year so Yes, our accelerating ARR operations, hiring growth a a again, just adding think going done as

growth us in can. of XX high long at a We of within think drive as But that. as to year do expect we we're of want set of operate we to things pace.And about up being to we like So beyond for think I free the investments make that, to balance. to And Rule do well levels is flow-positive. cash terms next consistent goal our continue guardrails

Mike Chang

next Blair. from Alex Pfau William Wolfe, followed Our Matt question Zukin by comes at at

Aleksandr Zukin

just X that I through that to quarter. largest is and logos of would the net again, lands. you've been customers And thing execution anything pretty was the truly there I a guess me kind operating in out -- high what And marvelous that one out rate were stood new you're quarter some challenging from saw there seeing of a at of that kind the guess, anything to momentum to marketplace, pure some a to that business? you macro and with that backdrop.So in is as macro kind describe up quarter was Anything it sensed you're the on pretty execution? or of starting in respect incremental the perspective you'd pick on a led changing maybe see of that comment X

Sanjit Biswas

out understanding spent in Sanjit. We field to It's of time talking lot the a customers, their business.

of ways more folks sustainable. operations. safer there's of efficient, I more think physical find to to These and occurring a with lots trying broader lots trend labor.They're that's in assets, towards digitization are be

looking a that have strong ROI.As of getting many they're in them their where think is tools in business delivers now of they're very a books word they're is as fast booked couple out what I seeing like of to product businesses, that out So this and advance. us. And clear years far

the I we like expect as were on or so you might focus there operations of these complex large, And market if end other at more think physical SMBs to look maybe customers, with that. than the there's stability you something

Aleksandr Zukin

to you talk as about ranking of of rank verticalized just products, And packaging, or maybe new more gen for can Dom, going as drivers, those stack about like, AI kind Sanjit, where era skews, That's where maybe think like, opportunities exciting think selling, about that's does stack what's you, year? growth some then super next partner the the net the of you right pricing influence any way, either more next helpful. does those year we drive

Dominic Phillips

I maybe can Yes, start.

to going to need to continue be just more execution. and out roll it's continued us, we more think I for think I And products.

is we driver We as can key. we're other a a that sure additional they're making product record that, can continuing of of rolling staying to really sell install growth. top track lot at quickly. we think all that the have will sales key then be that base.So as our into to million continue over a $XXX existing and on still capacity rate, that capacity us that now, innovation continue products that ramping add we productive we're And for X And drive out ARR before. of think growing were And we consistent they products

Mike Chang

Pfau by Daniel question Blair, next Matt at at from Our comes William Jester followed BMO.

Matthew Pfau

ask the about congrats win the with And to low-cost and quarter. wanted the I echo question, on for carrier. but multi-part my I'll apologize the

previous So win and was just this Is with initial prior I that a case with beyond you airline the And expansion within the believe, airports. airports? couple then the first have seen the few line, deployment a in a an previous low-cost airline in the driving the carrier win, was the win? factor

Sanjit Biswas

is Samsara stage take the on customer conference a our that. I'll Matt. Sure, was This of Beyond And last held interesting were with an airlines the airlines in June. and other audience. the one story. of We few us

figure operations. is in of billions from of that of seeing that asset I most have hundreds to do buck. think how to are folks And for what trying assets utilization others millions, companies their other. sometimes the their this they're fundamental industry.And and in They're idea really physical are doing These increasing dollars bang each learning get so are of out

pattern of idea. run have study, I that's case with something that others think you sets kind of where kind it a and So once the same

the has do As top of exactly the off far head. that remember I know my one expanded of know as I airlines I can't the with one. which recently. us don't deployments,

Matthew Pfau

quick the a margins. just Dom question on then gross And Great. for

keeps of and I How think that expect about that to think going guiding up. forward? down be going should it we been to you've us sort

Dominic Phillips

our any think timing within look, Yes, and given some takes puts there's I quarter throughout P&L.

And maybe in come going the the the focus on continue forward leverage, little and happy, line, G&A below I out modeling I of XX%. out most year really and in sales the margin think, of from R&D. model marketing, gross a more bit will notes. years would the so the But getting just to quarterly investors that provided in color kind the to We're really we of record full again,

Mike Chang

next at followed comes Dan question Truist. from Junaid by BMO, Our at

Daniel Jester

and just about to expenses quarters Actually, can on really expense couple down sales to sequentially and able of the line. of top one that been and impressive still really follow those for drive last that of the flat been It's on we strong sort you've strength kind R&D? keep last marketing up

expand maybe to the just ability about can So you leverage expense on sort those of items? drive

Dominic Phillips

always our just And in X% in X% can be Yes, timing QX, at decreased stuff some and guiding expect which -- we're that margins look, we QX. there's quarters. within will overall higher did you for think I I the in to operating that OpEx, in do QX see play QX.

clear, So there's little are and to play. of I do think investing a just of at definitely timing high levels be want we growth. to But I bit sustain trying

see timing may And so quarter-to-quarter. you in some the

Daniel Jester

customer thinking evolution you. update market to And thinking you're to about Got new then as any for pricing fleet, how conversations kind products how and of with continue of the you're products, kind of expand on any price? you kind or beyond those going about models

Sanjit Biswas

it easy the for model.We're technology. we've where There, for per Mobile to experience. to it to new look that similar to consume a Management focus it's really, and connected is keep little But us, Experience adopt going different on at or customers model to what think per asset user have as it's and products we're with. we per let's make I and experimenting forms ways So to bit going very per year let's the some talked about customer simple be the year package just it pricing

Mike Chang

Junaid at Materne Our next followed from at Evercore. by Kirk Truist, comes question

Junaid Siddiqui

get was the could as catalyst business similar think reporting you going a and for potential your just whether that to forward emissions your SEC serve I curious on to ELD the years requirements thoughts some Sanjit, around mandate ago?

Sanjit Biswas

Sure.

they many consume lives where data easier how were we provide and large of they And use they it exactly do ESG makes lot do their So that operations operating understand our so much because our -- in their can today. reports fuel and the and on. customers connected a they

integrate I a would those think be going And the be larger think companies. public kind that product. more for mature, our of requirements we'll ELD an I certainly don't tailwind. it's I But broader a that much as know reporting become That little it's effect. helpful into to

Junaid Siddiqui

aboard that any as your you to of respect now And go-to-market update a just with CRO, any go-to-market to been couple in partners any could on us changes quarters front, the for Lara Great. has strategy provide change that with or organization?

Sanjit Biswas

No, to to I'll road getting No the meet her. say just ton big Lara's enjoyed up on been great job really me a and customers getting announce. doing changes out a to She's have speed. with been

to right execution, continued a is think just focus highlighted Dominic what on focused kind I as And team. there's lot a we're do earlier, now. of as on

Mike Chang

question Kirk Our Materne from comes Evercore. at today last

S. Kirk Materne

kind at coming sort you a guys is wondering, a I which Are of Dom, system have of in now larger products coming in Obviously, and starting those a was customers of now front. kind size to are with that that dynamic. they're was they using subset I it's the positive of products customers of multiple multiple signing as is of and and still at up equipment get when the lot just the just outset, they obviously, scale? are very platform great. record their inventory?Or deal curious about up

curious expand to if of on the to take there start. decide telemetrics just they from kind to if similar is Just

Dominic Phillips

growing field primary getting we're their customers and then us.A their some continues landing expand subset assets, that wall different that lands vehicles, Still, operating front, over we they'll a their the M&A. segments have I of customers and up makers majority wall. think the with through grow assets to that with different lot way these That they think bigger decision are land of will to the see be time. customers but large the and I don't customers of into

expansions just to steady so if XX% And customers, on And customers. think quarter, new as from I a that's existing ACV stream of came the new well. came indicative from XX% at there's of in expansions mix net the coming look you

good So of both we those. tend experience across balance to really

S. Kirk Materne

talk for gets you quickly, base the the opportunity customer you're in obviously, Sanjit, Right. partners in then bigger, about curious really gets just as the what momentum your the can seeing, marketplace And marketplace? bigger. your of Just kind

dynamic? in anything that out you that Just to stands

Sanjit Biswas

Sure, Kirk.

you're app referring our marketplace? think to I

S. Kirk Materne

I Yes, am.

Sanjit Biswas

across have wide it's we over range really now a so very integrations of partnerships. and partner Yes, XXX

much So are great those very adopting momentum Customers integrations, there. on. them turning

in more larger customers, they our over ACV, at integrations typically who $XXX,XXX ones that have look are or X the you are If active.

So I terms think that's and an largest differentiation. in integrations. the area for of pull of these We're really platform them continued

So because delivering it our it easy. customers it's for partners the love we really and more about make value

Mike Chang

year portion. our all earnings question-and-answer you the attending concludes This fiscal XXXX QX for call. Thank

virtual on you have short bus the in X, I tour FBN I the XX, San We Goldman you Sachs virtual San January for events.That's tour Francisco Before announcements. bus Blair let Francisco December go, be San Sandler see the Francisco hope in one on a in X few bus December Evercore William December tour meeting. of the the January tour it participating at bus bus tour in We'll and to XX, Piper these on on on today's X.

any have can us Thanks follow-up you Bye, If again. at ir@samsara.com. e-mail you everyone. questions,

Samsara (IOT) 30 Nov 232024 Q3 Earnings call transcript