IOT - Earnings call transcript Q2 2025

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Mike Chang

Good afternoon, and welcome to Samsara's Second Quarter Fiscal 2025 Earnings Call. I'm Mike Chang, Samsara's Vice President of Corporate Development and Investor Relations.

Joining me today are Samsara's 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.

today statements. discuss we'll matters include forward-looking The Actual the to forward-looking differ materially SEC risks contained in from those filings. our statements in uncertainties more results described may and fully and are subject make we of required information obligation or of as X, to that statements these September law. forward-looking on call as on today, undertake are we and unless new statements future by this XXXX, update events assumptions based no result Any a

financial to release XXXX We'd discuss reports for our measures as measures second point GAAP. provided accordance financial today's that like a our calculated to During we investor out with financial fiscal to are in Reconciliations call, will non-GAAP and quarter results and substitute results. the presentation. GAAP company of non-GAAP in press superior in or addition not to

We'll and remarks, And the quarter highlights then for for that, open call I'll make the Q&A. dive up over hand Sanjit. with call opening into to the

Sanjit Biswas

and for Mike, greater you, everyone, durable QX We efficient growth ARR, XX% today. quarter strong year-over-year. with joining of ended growing thank Samsara scale. billion at another in and Thanks, delivered $X.XX us

achieved a for non-GAAP quarterly operating margin. record also We

to operations leading added continues the strategic most complex with and more physical customers XXX We the fuel our are ARR. in organizations. partner momentum customer We Large world's to growth. than $XXX,XXX

globally. the had supermarket with customers retail-owned U.S. XX largest cooperatives $X We the one wins ARR. of of of QX, a with the more and than also we record largest in quarterly added million in Maine, hardware chains In of the State one

an more company announce asset trillion the scales points than that annually platform. milestone. our We grow we we We're too. data collect As proud customer XX Samsara on data now base, to important achieved our

breadth In scale, dataset assets. group diverse unique of addition incredible spans has our broad and a and IoT to

unique help tackle insights data our their Our challenges. that unlocks customers growing set toughest

with for future the looking about of physical the we world on and X,XXX our attendees across for we R&D system standardizing They and for the Nearly And customer AI. operations, In the efforts they're their their data to learned and creating maximize AI record using of Beyond, Beyond hosted where and came Connected how are our to of discuss them shape told insights. top event. priorities Samsara of together impact challenges to Operations. June, their a more critical data customers' include conversations solve operations data we as they more These impact. prioritize AI us

Operations on with global Connected ceremony. an Year. customers as During of to outsized the we've a our impact like XX our of few been well Ecosystem driving had Beyond, our winners. also We honored Partner we I'd who the award impact hosted our share platform as

the retailer application. Americas. in appliance and Depot They're leveraging operator our the with Home employees. in safest installation winner X,XXX largest Logistics, was Samsara's Temco improvement stores achieved incidents by reduction over auto an with and delivery they company, XX% their XXX,XXX Video-Based home Safety world's Together

million their world's cranes driver largest and saved to in rental compliance. productivity companies also turn using They're XXX save crane Excellence over let's Crane, of the improved They Next, winner. from fleet. costs. to Sterling million supply Efficiency Samsara major in our expect with one $X.X maintenance $X.X They for

operations. our customers innovation. of to accelerating our customers, needs To make impact are been help to a We we've with real-world of meet our partner their proud the on flywheel

and set flywheel. data growing our drive Our insights AI-powered

build and customers. and it value from our faster, we our products for more As features more spins platform deliver

of All operations. their innovation of take efficiency customers safety, and helps the more this our improve to sustainability action

for high-value Asset product, hand our industry's small of engines to be assets. customers tag track assets manage Asset to Tag. help chemicals toolboxes new totes At and used Tag Beyond, and the and The we their from range Bluetooth is first carts. a It our a can launched industrial-grade

stolen millions efficiency year locate customers time, time our will reducing of of selling dollars million help needed and a approximately new start, QX, quarter Asset exciting improving worker by this through lost It's strong. and feedback over preventing the $X our increasing In expect, to Tags, We assets. first reached save customer asset asset loss been or has an ACV. net we utilization, in

about from demand and seeing use industries learning are We across every new geographies customers and week. cases our

this tolling network fuel more. use TransCore, hardware TransCore because of Tags we and is They Asset critical massive Samsara. a is innovative technology purchased technology the built functionality. good This amount help loss the leader A assets, to at with hardware, example support of prevention large solutions. this only and for management, of in inventory inventory possible

have We connect around connected devices the of Tag globe to the to network. the are The Asset Bluetooth Samsara uses Internet. millions that to industrial-grade

scales. our can organizations and as network density real-time With of that the improve network, get our near only will visibility

worker we products Connected Workflows Connected the further to new experience, At X Beyond, digitize announced Training. and

are safer. better their Our these using the transform to and worker jobs customers experience. is to make partner Samsara technology trusted

to insights. approvals contextual year, takes next goes beyond and the physical multistep based paper Last can Connected level Workflows to workflows. digitization Forms for assign forms, and to Connected digitize processes us on introduced we create automatically orchestrating manage Workflows operations. tasks Connected

to lines make office. the Now easier the from work to safer front can easily workflows department every back automate and

is more week a inspections issues submitted $XX,XXX are and million reported Gates, DeSilva on annualized has basis. is Drivers automating Workflows. leading Any with right $X construction inspections example on addressed company prompted to them Connected this an away. in or are than about California. An now a truck time. complete And DeSilva saved Gates

customers by Samsara was train we by to Connected courses reduce It launched risk to a them Connected does way worker experience Training giving product anytime anywhere. second giving app. helps access Training. and on remote mobile The workers the customers our this

across the customers risk organization. requirements can training itineraries areas. to address They worker's all Now customized learning streamline also each their our can build largest

Training benefits. seeing who use already significant Customers Connected are

construction For events contractor example, heavy safety a XX% Emery a the saw Midwest, in leading Connected reduction Training. Sapp in & with civil Sons,

help After for Beyond, to shared to customers' launched programs, our and safety and management our impactful platform. to better improve feedback Smart for To -- we improve improve of At our and customers we updates help we our Charge Insights. Trailers. is run continue features customers to help more of detections part new launching offering. announced our partnerships launched operations, AI new customers. we our new To make products, broader EV sustainability products customer their our the This our

public with use response Samsara to event network safety. trusted and San public summer Diego. happy was I'm situations. announced also another customers in partnership communications FirstNet, We successful Built next next with new Samsara safety and It can AT&T, we're emergency hosting created the for now only FirstNet in so nationwide a the share with Beyond, is

be We Digitizing look of will to physical world operations the physical bringing multi-decade forward even leaders and more together operations. across journey. our of customers, a partners

the we build culture. term, our As leadership continue we to for long invest our in and

positions proven growth tech of Square I'm technology includes Alyssa to experience sector. Alyssa and her at CEO to significant years of Board influential our has First, of XX at and world's This of brings Directors. welcome the most driving as excited the some track at of role a and and companies. Amazon She leadership over Henry in product senior technical Block Microsoft. leader innovation as record a

welcome Officer. happy is was recent Chief CMO also to Second, Lacework, us where Meagen joining Fortinet. Meagen through acquisition Eisenberg their from we as their by Marketing our she are

many Before at driving that, she companies. successful was growth brands She and the both engaging experience MongoDB. and TripActions building customers, CMO at has great

We are thrilled Meagen to have join and our team. Alyssa

of the scale And lastly, Samsara some continues customer to world's as for destination is top to important demand. This talent. be a meet we

This recognized quarter, and by Place development, Great well-being Samsara Work was women. for to

the we're customers. our making proud impact on are We of

annually. at our data customers XX driven billion XX than across scale miles API operating our are calls with We more billion generating XX and points, trillion platform

our get data ROI. for asset we to customers clear growing drives fast ahead. customers so more We're the decades-long can opportunity compound. our and make the excited impact continues insights AI-powered with year, Every Our

journey. customers, over now us you partners, the Thank to financial I'll and globe quarter. highlights over to it joining hand Dominic for the to the our on go across Samsarians for this investors

Dominic Phillips

another while record of million-plus particular, revenue ACV operating rate by was consecutive sustaining continued in quarterly operating year-over-year QX growth quarterly quarter record quarter number a sustained adding large million ARR of of and growth of $X In record a same achieving adding scale Sanjit. at $X net margin including quarter the third Tags maintaining the highlighted quarterly at X,XXX you, for gross a customers, was selling quarter leverage. the and approximately surpassing Thank our a high customers, new scale, Asset margin. larger first

revenue QX scale. of which Several drove same larger million Within QX top performance was we ARR, XX% was rate in representing third growing XX% billion, XX% million, quarter growth $XX ending consecutive growth. ARR is strong year-over-year. for year-over-year a And our line at this, $X.XXX QX. net new the $XXX the year-over-year factors year-over-year, growing added

large to to growth we on continue First, customers drive scale. durable and at enterprise focus efficient serving

representing is $X We added second a quarterly XXX, growth, of record customers the also year-over-year million-plus quarterly $XXX,XXX-plus customers, a in our that, And ARR ARR ever. XX% including X,XXX now XX quarter have which increase highest within quarter. we

ARR added grew year In to customer per $XXX,XXX-plus for mix customers, and customer XX% combination of adding ARR ago. to X ARR up ago X years increased addition to higher XX% ARR our from The we year XX% average up customers also in our $XXX,XXX and large more large from large large ago. $XXX,XXX, X per a customers average QX, more

customers also applications, for one adoption products XX% on increasingly ARR customers We're multiple system a subscribing unified to seeing or of X subscribed our all operations more. XX% utilize multiple record to of subscribed multiproduct Second, scale. $XXX,XXX-plus by at our and Samsara to as physical platform.

Our of for X than represent combined $XXX Monitoring products each while than vehicle-based million Equipment ARR, Telematics, ARR. Safety and more and $XXX million other Vehicle more of emerging applications, Video-Based

large categories grow X In to to continued scale, year-over-year. more these XX% each product than of addition

new saw QX Company, X also with QX X XX QX. of number different and Cassens the largest multiproduct Notably, included haulers new the large included more U.S. a We products. products of X auto top transactions of in Transport or one X our more. the one logos, X landed in of logos largest or in

in X and newer monitoring also of addition vehicle-based software-only initial to licensing transaction. purchased equipment applications, Cassens our Training, one In SKUs, Connected their our

included of expansions included XX core Additionally, top for more. customers, XXX% products target dollar-based all strength or respectively. net retention X-or-more and to us achieve our allowed our and expansion and X large This of XXX% X rate

highest second net geographies accelerating for fourth quarter scale. mix of larger consecutive highest And consecutive Construction the year-over-year frontier industries its of ARR XX% the and new an driven consecutive last increase several new fourth had international for third, new the net from ACV we by which services execution came from QX, mix Europe, field of in a net of strength in at demonstrated in total, QX drove from verticals, In strong QX ACV across growth markets. ACV all the quarter year. came second non-transportation had XX% quarter. XX%

Asset in of lastly, our ACV And a also roughly achieved selling we Tags customer than We quarter the million strength with net emerging of top-XXX including new saw a industry. more $XXX,XXX $X products. expansion in first construction in

$X our product the added We expansion selling industry. first Workflows Connected roughly net signed customer the XX an in transactions. of And ARR also $XXX,XXX-plus logistics QX, ACV X a new of approximately million in including in $XXX,XXX top we quarter separate with Connected Training

leverage we operating XX% for QX, was to deliver driving as seasonally top operating was tied year-over-year, record Non-GAAP cash growth, margin business margin a was flow flow or our In we strong addition in free X% across non-GAAP to quarter. scale. which and quarterly line adjusted what free X gross X% higher our points weakest was in is cash quarterly record, a margin continue percentage

Okay.

outlook We're of because rest turning key of FY 'XX. across and QX for Now performance to our guidance. all guidance raising our the metrics

between and For XX%. expect $XXX EPS be be growth to be between $X.XX. $XXX year-over-year revenue approximately representing XX% total and and to $X.XX Non-GAAP non-GAAP we operating X% QX, million between to and million, margin

please billion, $X.XXX For 'XX, margin be full and $X.XX shareholder modeling be to non-GAAP growth operating notes $X.XXX to X% FY additional in revenue our expect revenue approximately year-over-year XX%, to finally, between between adjusted non-GAAP between representing EPS and XX% And and year we billion and letter. see be $X.XX.

customer also QX, our our larger In performance revenue growth are So market operating outlook up, we're and while leverage. FY rate we delivering pleased delivering improved driving underserved demand. efficient we half our well which at to continue digitizing opportunity positioned 'XX. with first of wrap for and we're very large we looking forward, more physical sustained world a scale durable is growth a believe that's and and to strong because operations, And the

different fast targeting operate payback and continue We're excited offer a are real we're partner our proud helping customers sustainably. customers with and to and budget. ROI safely, products to and very period to our efficiently Our a them more operations

I'll that, Mike to Q&A. it with And hand to moderate over

Mike Chang

Kash Thanks, Dominic. Zukin Research. Alex today comes [Operator Rangan followed question Instructions] with by Goldman from The first with Sachs, Wolfe

Kasthuri Rangan

the $X you to so? forth What phenomenal which from new into at retention have rates and power like things looks like up, Workflow, net could noticed fun talk It of the to the as you've curious do hold, you you've million business the of talking environment And the products conferences? company? a the the in quarter. also rate you landed tell changes of of renewal past for Sanjit, picked the As here. ACV new had our how a quarter. the seems to laid month stickiness, can your pricing on tone better start take I the get to any better the lot ACV quarter take How and we and the also power new if you've envision pricing about the contracts product those Can buying experienced in company innovation potential growth translate about or that that also impact tremendous your

Sanjit Biswas

is Sure. Sanjit. this Kash,

quarters been So pattern all, is platform couple the first really adoption think strong. now. of continued seen of This for I a the has of we've a really

buying especially environment and So platform more. ROI to than customers say they of different terms the was do this wouldn't and really that fast are other in clear seeing with I want

and like the Safety track just into not those you equipment, system. So Telematics, monitor workflows but assets connect said, their

products, So the think impact our it strengthens story I new platform customer. for of our

for system. Samsara us office They're lots employees They deliver them. in helps frontline using have value of ultimately, and already that the and back more

and tons We're of of focus going they're I strong from back. making I that it's sure that, we pricing getting to happy delivering is on product. customers do renewal power, really, that's customers. terms And seeing keep great are value rates, In think about for our they're what value if coming our the

Mike Chang

Keith The Wolfe by Weiss Zukin comes Alex next with Morgan from followed question with Stanley.

Aleksandr Zukin

Can you hear okay? me

Sanjit Biswas

Yes.

Aleksandr Zukin

quarter. great for another maybe guess on just Congrats Perfect. I X me.

thousands to first weeks if first The Tag pretty about in industrial a about the dollar basically product, deal you one, it's hear think like Asset availability. remarkable the Asset the multi-hundred Tag, of

of and your you others. Telematics, if products follow-up. how Sanjit, ballpark just Where does gain this -- that relative give fast course those So sense, year the in ramp then years? TAM to to fit I've or for a coming of kind the trajectory can relative the And us like product of to coming this how and quick got can other the Video-Based this Safety over

Sanjit Biswas

Sure.

a company. those compare So the Telematics to smaller do Alex, we it's versus released much hard when market. as a and in well-known we We Safety because were weren't products,

about of go the I There smaller we was lot off and kind customers Asset the beyond they has have it. very because assets, all when our think like fiber in their well Tags the all jumped got splicers, we're customer it they excitement tools, that released other the vehicles sites. at assets a the things even of how get conference trailers left job beyond And with thinking operations, so And it's pleased line.

it. smaller products launched very customer to of years again, we There's strong. a interest feels it hard company. strong it of So pull But many ago overall, a and compare that in lot as kind it's to

Aleksandr Zukin

it ARR any the that in existing the to 'XX. how Because of like large that your like seems that visibility not see mandate to feel engines, ELD Carrier Dominic -- on? would Administration like seems being can how would telematics June up have customers? maybe do if fleets revisit Motor more much question, or within of your applicable expand tailwind then And that be unlock like coverage you like it kind pre-XXXX Is but to Federal ends you this Understood. there could applicable have planning Safety Okay.

Dominic Phillips

they're out I business to of us really really on -- that the customers going being offense, and may are on offense that of think or now. future meaning buying and pop we're using finding for being There of growth their that on regulatory those they be providing not more kind They're Yes, their as none productivity. of take necessarily things we're up, that and across record on ROI. but improve other It's to is things the compliance efficiently drive more because more ROI come of ways of radar Samsara system we'll really of asset getting worker of that's safely to tracking a and reduce ultimately multiple kind but continue kind kind to growth. costs, operate way up, customers. more right And products. utilization drive as relying and our kind about

Mike Chang

from Weiss Evercore. followed The next Stanley question with by Materne Kirk comes Morgan Keith with

Christopher Quintero

for an to This of Quintero where you interesting not to solution on back is use even I percentage at Telematics slide Day not Video a does Safety wanted Analyst use Keith. go than solution. and half market the Chris more higher had

just provider thoughts So the curious your why solution? there everyone these around a adopt using is getting are are companies Or to not any customers hear today? and to eventually a challenges potential And these timing will? it on thing really

Dominic Phillips

Yes.

And in that's dynamics Again, roughly the solution commercial not vehicles are you for are decades. today. using set as or than a been different around more of XX% it's obviously side. it's America the said, on in North industry, -- Telematics So multiple product half

are most so customers And of our multiproduct.

them to previously. technology subscribing using multiple when products, it weren't maybe they're the often it's helps that which convince Telematics they so adopt And to case ultimately

recent more technology side, On it's Safety, the really tailwinds. other to tied

kind has XG the a that, rapidly ability unlocked to market HD technology. really of start solution videos and going or we're seeing adopt and safety, to to new sell that So

the of at our coming cases X% growth is to and ARR commercial for vehicles we're had a XX% safety a use and now only maybe so new up IPO, of of lot from time And the solution, customers.

Sanjit Biswas

And add there. I Chris, if just can more point one

historically, way so of was you viewed as If trucking. something prevalent the have zoom long-haul transportation out, in industry, been Telematics that kind

the our strong. that, As we outside of described very remarks, earlier XX% industries of prepared construction business from came field services, in were

applications and like is by our tracking events had but through adopting so customer. that's the technologies, for point, AI for being adopted to Dominic's and then safety all And of the also what it Video-Based that industries value Safety, cameras seeing we're Telematics, the new not are GPS connection, deliver even the go new previously sift to enabled able quality the

Christopher Quintero

we That's then and at Clearly, is results firing cylinders it. both But are clearly on all can the Got all that question for at always high just second my level, super things And a Samsara helpful. improve. of you. back up.

So areas on I'm curious are some that today? of better what both you're from or looking Samsara your perspectives, improve get to at

Dominic Phillips

that obviously can on. we that There's improve a lot

just and it's around people we're and retaining not productivity. and make we're on product kind making to we we're sure and drive medium seeds the creating right constantly sure the customer R&D capital about only the for improving making right right we're feedback improvements. announcements, make demonstrated sure hiring Can making that durability. and planting that sales of building Make people and longer-term think that growth recent sure capacity execution. growth, the right of taking near-term the that as but we and we've focused company decisions over culture that I products, allocation right kind ultimately, Can

required, and execution scale, so as a on of focused we lot there's we're just very to And that's continue that. obviously,

Sanjit Biswas

hearing our the job we of I platform. there's to that time want at we do. better think us with is long on echo -- operating points they and can around would build like a for And feel can a one our what always lot else the Yes, in I customers Dominic's build company I the to principles field, term. put do spending

spend if even would I day, that's the in what a customers. do more So is time more with go hours go had I

Mike Chang

Kirk from So the with Hedberg Materne next comes Evercore by followed RBC. Matt with question

S. Kirk Materne

I'll kind of And Asset things But was on echo Sanjit, for that's one I about Tags great quarter. congrats early incredibly is realized maybe that on I'm the you other. the customers a lower one of tags can all. leaning value way interesting I if as are or the kind of wondering, incredibly well curious for value assets are these used high be as assets. just

a think cart toolbox gave the train I full to potash. of guys you example everything from a of

value of end, that So longer I realize at of curious, the are going thought asset was kind like but term? process I on they what pricing out inform just your And first you're just high all? assets and after I'm does kind the quarter Again, seeing there. it's curious

Sanjit Biswas

Sure.

but we that to assets it's use lot source And As all about hard exciting are don't basically ones connected or hearing It's vehicle see cases. are you we're they to said, them. to case seeing to a they're use think behind it's these very are related what value. have that have a I mentioned And not power, every so in fuel of see the historically that early, new earlier, don't or were left often asset pattern battery are untracked. we different A week. specific

that tools, operations. of encompasses in accessories the So kinds a and it, lot there's all but of of physical that's world

at about and cost gets so think little Those excavator, same on. parts left behind job thing an the bucket heard can of for the about thousands crane you end at a site. If example, We've dollars.

the So couple a quarters. we I But kind of of value is a kinds should low value the different next pattern, versus of if see would more high there little say the is lot of assets over one. of

it offer comes equipment trackers. equipment. when powered we portfolio Now to a stepping back, have strategy We

whole unpowered, really. have family, We

a their kind deployment we we a can match needs. meet portfolio, customer's kind to it within mix and and of view as so And of

S. Kirk Materne

flow great operating Dom, helpful. to the Okay. cash follow-up. really quick through That's and And Obviously, super numbers a the see margins. flowing just the leverage

was over into calendar might your it's think 'XX call starting realize how sort kind you're demand, think heading process but the hiring of Given just next, to I how you early, now. that thought or thinking quarters. of impact about about trying about the in couple I it, that to I assume strength are of

Dominic Phillips

It's 'XX. to of kind still really too calendar get early into

just off our plan of process. we're think operating kind kicking I of kind annual review

in to and hiring But And out to couple going quarters. has year be an for work the of this of hire year, that kind so we'll through next and continued continued robust. have plans obviously year. plan a kind with more hiring we're aggressively we're details had We year. a accelerated our last annual We've track on operating our do we'll on figure review process what and of to

Mike Chang

The next RBC with Jim Sandler. from followed with Piper question comes Fish Matt by Hedberg

Matthew Hedberg

was sort Tag like about that's the them Congrats know, to just sizing where again. initial be asset $XXX,XXX get keep a curious for at do purchase? the an that just like Any looking would year? -- early, get the really Asset curious, but the their again, first I uplift, customer that I think going that's that and it's number. sense was in quarter, I big that you helpful. perspective that's size scoping of saw going I'm where on like a journey? in next they appreciate you order do Did because on a

Dominic Phillips

to one use ultimately things Samsara case we're there's are kind we in to approach and I rollout really then for think upfront, other go other after for want that that the least customer track phased and of more at a a pipeline, find that of cloud. of we're going bring the into customers going and to

quarter I it's so kind be And will this where and indicative time. of future quarters land think more of expand a over of

Sanjit Biswas

a can that to little And if bit. I add

cases Asset they our new operations. use once their they're try the of customers, Tag, Some discovering within

shared examples we a few ordered I of in their remarks, the tags. they and customer, One the met thousand

means so in One departments for back And had We'd super these department and swooped that order value half this is customers. of and "Wow, useful. the providing had exciting because they in like And and come mind of more. it's said, a some to another we're project those."

Matthew Hedberg

which was and like about Great of on That's give reflecting Because AI of lot a is a find you leverage user any trying that something event. launch. think that And looking that that on sort is a for. mention about to Can in technology where there's killer back great. have then your perspective color, thought I customer generative that to at event, so? or buzz lot There's thinking on especially your to well-done platform. mean base maybe Connected the I of use case I that we're next that sort within in opportunities journey? of we're year your I

Sanjit Biswas

in absolutely. Investor here of that a a asset our Day, Samsara. Matt, data that the shared recall you powered if demo by we've creating Yes, we unique basically environment at chat is been

with them, which detail. that being Spanish, able maintenance what's So vehicles talked next, all maintenance, plain or you for we prefer, of kind English wrong example, in about tell Plain whichever you be need to able

So to we're excited experiment.

transformational we lot technology can in how and I of for to needs the deliver is of be this a terms think practical and value It useful deliver customers. absolutely it.

through couple of our and to next feedback months, it over that feedback their So getting and enhancing customers we're loop. out the rolling

Mike Chang

Michael Wells next Jim with Sandler, with from Turrin by Piper comes Fish question followed The Fargo.

James Fish

the ARR accelerated. it look mid-market I guess underneath, does like

new And so of we of much existing should Dom, versus expansion sort by from was net generally, how how quarter? ACV of the just this that think overall about driven SMB percentage new? versus And

Dominic Phillips

also to net we pretty quarter, recent Like getting it was rate talked a Yes. it but very in strong new was multiproduct XX customers expansion, about logos balanced. our added. our it talked tilted retention quarters, targets, new so was It It top really in was expansion logo strong towards slightly of were most We about a our new X quarter. second core of highest terms quarter ever the transactions.

so kind be very of continued similar recent it And to quarters, the balanced. most the to

James Fish

pages look, you're today, you relative embedding any macro that you in days impact cycles deal how your outlook. in ARR about are to in worsening And talked there, the and ARR new XX back business seeing are outlook into ago? the your net But actually

Dominic Phillips

to continues demand Customer be No. robust.

setting macroeconomics we're we're year. up expectations I an think slowing we election confident talks way highly we sure making feel in there's hit. Obviously, about in that that and we're just can a

And make expectations we demand, that, sure of that with an so in something always but seeing we're we're there's we're that just uncertainty. more inherent impact setting feel that we kind not want about But out customer hitting. it's for. to watching And again, good

Mike Chang

comes Becker question with Michael next followed Blair. Turrin Dylan William Wells Fargo from by The with

Michael Turrin

It's Great. XXXs. taking U.S. probably we've X actually I supermarket, something landing the certainly the out. State Maine, of Fortune before, appreciate but It's touched diversity stands your logos, you question. on the of

you can go diversification of those were address able platform just and as Samsara's So are. customers of all business the as effectively go-to-market to different you types back holds the underlying maybe to and how

Sanjit Biswas

I last Michael, think years these the things we've across different over So interesting is how is one learned industries. much few there the commonality of

Maine, always you're more whether efficient. of or or services to in So the field construction State you're trying be

how to your be You're utilized. well how trying safer, understand assets to are

way use our So these sales to do team we contracting with a because a generalist and cycles have industries. these government pretty find otherwise we is team those work able are do bit apply a common break sell is We focus across the that who cases little the different agencies out bit much industries. and a different. different sector deal on they public really across But

Michael Turrin

through level just through of And forward? models, how Great. X, there's the us Dom, free those just to to the between working we're flowing thinking should margin that we operating some as cash flow. Maybe materials, in help all going the expect around delta in through you set progress commentary can improvement

Dominic Phillips

Yes.

strongest XXX year. -- yes, so is the benefits of points through is from talk And of operating of points And flow seasonally our for of from that leverage that second did so year years. There the cash free XXX previous of third cash that And largest would seasonally quarter to kind net flow. improvement basis we basis then then about, in free lot kind billings collections all obviously, and QX a of obviously, flow, in higher a the in quarter, contracts QX benefit, where were QX. than booked then because little the QX cash to free new be ACV gets net largest QX quarter more be flow tends tend our ACV seasonality from is -- new our QX, and largest the which and quarter. bit to the QX coming

another flow. consensus. XXX little kind to margin lumpiness more cash points the rest But margins operating through the and in both guided within to versus we So free expect kind a to year, for do we what basis of of flow free flow bit the of there's cash

Mike Chang

question next followed BofA. Dylan with from comes Bullock Matt William with by The Becker Blair,

looks It not there. is Dylan Okay. like

followed Matt Bullock BofA, by Gogolev JPMorgan. with go Alexei with Let's with

Matthew Bullock

on few Excellent. if the I product A could, launches. new

the collect Asset Tag. there to see Can to talk bit great early think So and early from feedback of it's the the Understanding how we you with now been time pricing traction little days. should broader about there's base? about a the packaging that customer strategy

Sanjit Biswas

that I'll one. start with

Tag again set initial the the of that the there well. to a about portfolio our been on think seems strong. do we part We pretty earlier, Connected think pricing Asset been we significant I on Asset as within have talked Equipment Tag it. Feedback has And be line. of working orders like

there's out it nonvehicle of it in expensive of And there we track different assets. to assets you in operations. are I fits well, because that gives for especially offer So smaller tracking some less the think lots products the ability

Matthew Bullock

continued Super quick Europe. follow-up helpful. one then And strength in on just the

fourth you or just it customers, of a think What Is attribute I accelerating improvements consecutive better just growth. reference that to to? that you the would building base of said product fit? quarter was larger up sales the infrastructure market ARR

Dominic Phillips

is of commercial really physical America. the vehicles Obviously, all the I commercial North market us. Europe more really above. opportunity Europe and for there's a vehicle it's on just operations in assets side, I think in mean big

sales focused pipeline, paid building that for of products we that off scenario last lot X right a has sure the have the those so we've kind capacity been and investment over making of on particular consistent really regions in And given quarters. just

Mike Chang

have we back. like looks Dylan It

So by with with let's with Becker go Blair, Dylan followed Alexei William JPMorgan.

Dylan Becker

Great.

base? that and of value so adopting is Sorry of realizing cross-sell some the kind the with Dom the ROI customers about is seeing you're maybe, even think to or that Sanjit and given healthy ecosystem. we deliver? think high, how about you guys obviously, and that there's way there existing a playing phased that. guess, starting the evolution here, what's upsell faster about should within out rollouts keeping I I but that from demand in of Maybe know

Dominic Phillips

customers lot these A digital physical the in early transformation. of of really operations are innings

get all us, really phased are ROI that getting of there's adopting journey fine want want technology, licenses a do sure rollout adopting for they on terms we're they so they're make And getting or And take they they're internally, in customers required but value just that real whether upfront where customer-by-customer to kind kind change do it and really way. the a ensuring more kind of technology. basis management depends therefore, their in working and they ROI and in to phased kind they a it we with of on and want rollout of based of a to

Dylan Becker

Okay.

large for to, does in of highlights kind Okay. And that strategic both I Dom, fuel the and the given think, incrementally on I segment as up in here? help is outlook this aggregate guess, of than you adds new you, faster of per some sense. growing customer That confidence how an revenue and that's well sticking more kind makes the becoming to mix customer. then logo side, larger this step

Dominic Phillips

before we're consistent. said XX%. point quarters, large a several and a ago incredibly XX% I the it's Yes, over move mean at now percentage like been one continues XX% year last mix of year to the that. towards customers, kind I of

drive with for more and continue They just where on so to investments. more to and We're purpose-built have more ability the we is this take have operations. complex for products. physical large these ROI And customers. make an those more really We enterprises can impact area more

continue our an And so strategy. that will part be growth important of to

Mike Chang

from with Alexei The comes question TD next Cowen. JPMorgan, Derrick by followed with

Eleanor Smith

Smith Gogolev. Alexei This Ella is behalf calling on of

could customers I attach, are either there to first, but fast, call that then particularly cross also slowly. products hoping was share that out any whether particularly you So

Dominic Phillips

equipment Most $XXX the than our customers be million Video-Based combine and consistent but to that's of of more Safety the multiple are adopting most think of a don't pattern. Vehicle I common, products. some largest emerging ARR. Telematics Obviously, monitoring for tend products and X our

cases it we all the So what see use on across of are, really and products customers different our combinations depends again, on of customers. individual

Eleanor Smith

additional with my question, development? for investing product second your Or interested in you product are Very portfolio satisfied you are helpful. in And at juncture? this

Sanjit Biswas

technology-oriented I a here think Well, that go as say products build can founder, problems for I solve our customers. we're to

lot on. So ideas great And our that in area an get absolutely investing of customers from a R&D. we are it's we

improving So and some the to keep we investing we're in products ones. going have new

Mike Chang

comes The Cowen, next with Truist. with question followed TD from Derrick by Junaid

James Wood

helps that Obviously, this on systems. the behind lot the But Tags? Congrats strong Sanjit, up Asset your assets a could typical uses the I of instead what Bluetooth another the what you light up quarter. and track. gateways? And give target between more are versus implications technology gateway capabilities know do using networks? to Bluetooth bit your new to little have dive COGS this are What other a you rely you for into requirement? differences vehicle

Sanjit Biswas

Yes.

Bluetooth, Tags but these implementation. connect, they terms powered of in we Asset So how absolutely an Bluetooth are have industrial-grade by

to gateways that to out these as network. of range. again, doesn't well. are Samsara mind But connect devices So Instead, broader It's a in Bluetooth connect a cellular security designed the the bit there. with

there. have can achieved basically out scale enough that's of we've where this near created the network high density tracking really We We with a There's byproduct big as that of now operations millions we company. happens. achieve And across a a real-time gateways them. that

be modems. a to power that to the they tower. Bluetooth don't broadcast excited radios implications very cellular of that do The because efficient than all the way the able do that. more are cost also So They're less cell to

is battery life enhanced. the So

the X-year is to bar. kind fun-sized our a very real-time tracking. for of battery customers life small a in So doing candy multiyear about while achieve form able size We're of factor tag the that

we again, Samsara have that millions not done we density that something achieve could we of we done the something So the until with of not and cellular there. have and out the have gateways could network with scale

James Wood

is how That's know total can customer count to keep trending year, it. customer and the -- only making levels number. you've graduating got you're historic I customers and speak of you a of color. that helpful a feeling we but how Dom, the a number growth get drive once count Got good just into about versus of funnel that total velocity in to $XXX,XXX level $XXX,XXX sure healthy kind

Dominic Phillips

Yes.

logos it answer, earlier our of ever the in in said customer was highest I terms core added. second As quarter new

it ACV. XX% net of overall And close really strong. roughly new kind again, So the drove to of

it quarter. of bit little So was a larger a slightly expansion

for very logos leads previous consistent these us that to And to And previous similar because, kind new so Landing quarters. was important opportunities. really obviously, kind from quarters. mix expansion of of it is future

Mike Chang

Our Junaid last question with from today Truist. comes

Junaid Siddiqui

Great.

been Just hiring of your to on drive on that large that customer from large continue shift growing serving larger further maybe apart the are quota-carrying these pretty count, customer more you can reps as levers use what you penetration? some that to enterprises, impressively, has focus which additional

Dominic Phillips

create R&D reaching we're think obviously, kind investment, an is pretty It them. for more of a good large we we grow of I ROI impact the conversations big of a the ultimately cohort can have and and opens capital annual have us if on us that, to allow just and customers this opportunities more continue that up create and more problems to part allocation a solve it with to can do will velocity products more their customer fast. more to that and basis. And continue for

Mike Chang

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

these on Growth Francisco Software Forum X. September Sandler San September Frontiers in September on X, the a one let Sachs see Before in I We short and We'll I JPMorgan Napa October at the Nashville Conference be hope of Piper XX; events. XX; the you on in Communacopia in San Francisco to attending Conference few on Goldman Technology go, the Wolfe you have announcements. Conference

today's for meeting. it That's

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

Samsara (IOT) 5 Sep 242025 Q2 Earnings call transcript