Samsara Inc (IOT) Q4 2025 Earnings Report

Key Q4 FY2025 metrics and context:
- Revenue: $346.29M, up 25% YoY; 36% adjusted growth (Q4 FY2025) per management commentary; FY2025 revenue $1.25B, up 33% YoY (adjusted 37% YoY due to the 14‑week quarter in the prior year and constant currency effects).
- Gross margin: 76.8% (GAAP gross margin); non‑GAAP gross margin 78% (as highlighted in the earnings call).
- Operating income: GAAP -$18.41M, margin -5.32%; EBITDA: -$12.34M; Non‑GAAP operating margin: +16% in Q4 (management note), with full‑year trajectory guided toward mid‑teens.
- Net income and earnings: GAAP net income -$11.20M; net margin -3.23%; GAAP EPS -$0.0199; non‑GAAP EPS +$0.05–$0.06 in Q1 guidance.
- ARR and customers: Net new ARR of $109M in Q4; ending ARR of $1.46B (YoY +32%); 2,506 customers with $100k+ ARR (up 36% YoY; record quarterly add of 203); 118 customers with $1M+ ARR (up 44% YoY; quarterly add 14).
- ARR mix and attach: Average ARR per $100k+ ARR customer rose to $323k (vs $313k YoY); 55% of $100k+ ARR customers are now in the >$100k tier (up from 52% YoY).
- Net retention and international: Target net retention rate around 115% for core and ~120% for large customers; 17% of net new ACV from international geographies in Q4 (Mexico and the UK highlighted).
- Product and platform: 62% of large customers use three or more products (up from 58% YoY, 54% two years ago); 15% of net new ACV from non‑vehicle products in Q4 (highest in 10 quarters); asset tags and safety/maintenance enhancements cited as accelerants for expansion.
- Cash flow and liquidity: Operating cash flow of $53.86M; free cash flow of $48.51M; capex $5.35M; net change in cash $65.21M; cash and cash equivalents $227.58M; total cash and short‑term investments $694.80M; net debt of $(147.30)M; total debt $80.28M. Current ratio 1.50, quick ratio 1.45, DSO ~60.8 days.
- Outlook and guidance: Q1 revenue expected to be $350–$352M (+25% YoY; +26% to +27% CC; includes ~$5M FX headwind); non‑GAAP operating margin ~7%; non‑GAAP EPS $0.05–$0.06. FY2026 revenue guidance of $1.523–$1.533B (+22–23% YoY; +23–24% CC; includes ~$11M FX headwind); non‑GAAP operating margin ~11%; non‑GAAP EPS $0.32–$0.34. Management emphasized the continued transition to large enterprise opportunities and the broad growth runway from the platform’s multi‑product functionality.