Samsara posted a strong start to fiscal year 2026, underscored by durable top-line growth and efficiency gains. Ended Q1 with annual recurring revenue (ARR) of $1.54 billion, up 31% year-over-year (YoY, CC up 32%), and revenue of $367 million, also up 31% YoY (32% CC). The company highlighted broad-based demand from large enterprise customers, a high rate of multi-product adoption, and a record pipeline, signaling durable growth. Margin dynamics improved meaningfully on a non-GAAP basis, with gross margin at a quarterly record of 79% and non-GAAP operating margin at 14%, alongside a 12% adjusted free cash flow margin. Management emphasized AI-enabled safety, maintenance automation, and an expanded OEM ecosystem as key levers for continued expansion. Guidance reflects continued growth with a focus on durability and efficiency, though macro headwinds such as tariff-related investment timing remain a near-term risk. This report synthesizes the quarter’s financials with management commentary to provide an investment view on Samsara’s growth trajectory, profitability, balance sheet health, and competitive positioning.