Samsara Inc. Files 2024 10-K Report

TL;DR

<b>Samsara Inc. has filed its 2024 10-K annual report detailing its financial performance and business operations.</b>

AI Summary

Samsara Inc. (IOT) filed a Annual Report (10-K) with the SEC on March 26, 2024. Samsara Inc. filed its annual report on Form 10-K for the fiscal year ended February 3, 2024. The filing covers the period from January 30, 2022, to February 3, 2024, and includes financial data for fiscal years 2022, 2023, and 2024. The company's principal executive offices are located at 1 De Haro Street, San Francisco, CA 94107. Samsara Inc. was formerly known as Samsara Networks Inc., with a name change effective May 20, 2015. The filing is categorized under SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373].

Why It Matters

For investors and stakeholders tracking Samsara Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Samsara's financial health, operational strategies, and risk factors for investors and stakeholders. The detailed financial statements and disclosures within the report are crucial for understanding the company's performance and future outlook in the IoT sector.

Risk Assessment

Risk Level: — Samsara Inc. shows moderate risk based on this filing. The company operates in the competitive IoT sector, which involves rapid technological advancements and evolving market demands, posing a medium risk to sustained growth and profitability.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Samsara's growth prospects and competitive positioning.

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the reporting fiscal year.)
• 2024-03-26 — Filing Date (The date the 10-K report was filed.)
• 7373 — SIC Code (Standard Industrial Classification code for the company's industry.)

Key Players & Entities

• Samsara Inc. (company) — Filer and subject of the 10-K report.
• Samsara Networks Inc. (company) — Former name of Samsara Inc.
• San Francisco, CA (location) — Location of the company's principal executive offices.

FAQ

Industry Context

Samsara Inc. operates in the Internet of Things (IoT) sector, providing a cloud-based platform for physical operations. This sector is characterized by rapid innovation and increasing adoption across various industries.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically Form 10-K, which mandates annual disclosure of financial performance and business operations to the SEC.

What Investors Should Do

1. Analyze Samsara's financial statements for revenue trends and profitability metrics.
2. Review the risk factors section to understand potential challenges and mitigation strategies.
3. Assess the company's competitive landscape and market position within the IoT industry.

Key Dates

• 2024-02-03: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-26: Filing Date — Date Samsara Inc. submitted its 10-K report to the SEC.

Year-Over-Year Comparison

This filing represents the annual 10-K for the fiscal year ended February 3, 2024, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 par value per share IOT The New York St
• $27.71 — quarter, based on the closing price of $27.71 for shares of the registrant's Class A
• $10,000 — ted Operations Cloud, each representing $10,000 or more in annual recurring revenue ("A
• $100,000 — d on larger customers representing over $100,000 in ARR. As of February 3, 2024, we had
• $1 million — al 500 agricultural retailer saved over $1 million in hardware costs in just one year with
• $30 million — than 8,500 hours annually and unlocking $30 million worth of revenue that was previously ti
• $100 million — them to win new contracts, resulting in $100 million in new contracted revenue to date. One
• $5,000 — stomers" as customers representing over $5,000 in ARR. To reflect the increasing mix o

Filing Documents

• iot-20240203.htm (10-K) — 2144KB
• exhibit211-subsidiariesoft.htm (EX-21.1) — 9KB
• exhibit231-consentofindepe.htm (EX-23.1) — 2KB
• samsaraex-311peoxq42024.htm (EX-31.1) — 11KB
• samsaraex-312pfoxq42024.htm (EX-31.2) — 11KB
• samsaraex-321peoxq42024.htm (EX-32.1) — 5KB
• samsaraex-322pfoxq42024.htm (EX-32.2) — 5KB
• exhibit971-executivecompen.htm (EX-97.1) — 31KB
• iot-20240203_g1.jpg (GRAPHIC) — 169KB
• samsara_logo.jpg (GRAPHIC) — 112KB
• 0001642896-24-000016.txt (&nbsp;) — 10218KB
• iot-20240203.xsd (EX-101.SCH) — 54KB
• iot-20240203_cal.xml (EX-101.CAL) — 97KB
• iot-20240203_def.xml (EX-101.DEF) — 287KB
• iot-20240203_lab.xml (EX-101.LAB) — 737KB
• iot-20240203_pre.xml (EX-101.PRE) — 540KB
• iot-20240203_htm.xml (XML) — 1451KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 62 Item 1C. Cybersecurity 62 Item 2.

Properties

Properties 64 Item 3.

Legal Proceedings

Legal Proceedings 64 Item 4. Mine Safety Disclosures 64 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 65 Item 6. [Reserved] 66 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 67 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 80 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 81 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 111 Item 9A.

Controls and Procedures

Controls and Procedures 111 Item 9B. Other Information 114 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 114 PART III Item 10. Directors, Executive Officers and Corporate Governance 114 Item 11.

Executive Compensation

Executive Compensation 114 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114 Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accountant Fees and Services 114 PART IV Item 15. Exhibit and Financial Statement Schedules 114 Item 16. Form 10-K Summary 115

SIGNATURES

SIGNATURES 117 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this Annual Report on Form 10-K are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "goal," "intend," "may," "objective," "ongoing," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or the negative of these terms or other comparable expressions that concern our expectations, strategies, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our expectations regarding our revenue, cost of revenue, operating expenses, other key business metrics and non-GAAP financial measures, our ability to determine reserves, and our ability to achieve and maintain future profitability; the sufficiency of our cash, cash equivalents, and investments to meet our liquidity needs; our expectations regarding future dividend payments or issuances of additional capital stock; our ability to attract, retain, and expand our relationships with customers; our ability to develop new products, features, integrations, and enhancements for our Connected Operations Cloud (our "solution"); our ability to compete with existing and new competitors in existing and new markets and offerings; our and our customers' expectations regarding the benefits of our solution; our ability to successfully acquire and integrate companies and assets; our ability to maintain the security and availability of

Business

Item 1. Business Overview Samsara is on a mission to increase the safety, efficiency, and sustainability of the operations that power the global economy. To realize this vision, we pioneered the Connected Operations Cloud, which is a system of record that enables businesses that depend on physical operations to harness Internet of Things ("IoT") data to develop actionable insights and improve their operations. Organizations across industries in transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, manufacturing, government, healthcare and education, food and beverage, and others are the backbone of the global economy. They operate high-value assets, coordinate large field workforces, manage complex logistics and distributed sites, and face environmental, safety and other regulatory requirements. We estimate that these industries represented over 40% of the global GDP in 2023. Yet historically, these industries have been underserved by technology, leaving them heavily reliant on manual processes and legacy systems that are siloed and lack cloud connectivity. Without connected digital tools, physical operations businesses struggle to access real-time data, making it nearly impossible to achieve complete operational visibility or drive meaningful improvements in productivity. We are solving the problem of opaque operations and disconnected systems. By harnessing recent advancements in IoT connectivity, artificial intelligence ("AI"), cloud computing, and video imagery, we are enabling the digital transformation of physical operations. Using our Connected Operations Cloud, customers can access their physical operations data in real-time, on one integrated platform in a way that would have been impossible and impractical only a few years ago. Our Connected Operations Cloud consolidates data from our IoT devices and a growing ecosystem of connected assets and third-party systems, and makes it easy for organization

View Full Filing

View this 10-K filing on SEC EDGAR