Samsara Inc. Files 10-Q for Period Ending May 4, 2024

TL;DR

Samsara 10-Q filed. FY ends Feb 1. Financials updated.

AI Summary

Samsara Inc. filed its 10-Q for the period ending May 4, 2024, reporting on its financial performance. The company's fiscal year ends on February 1st, with its next fiscal year beginning February 2, 2025. Key financial data and reporting dates are detailed within the filing.

Why It Matters

This filing provides investors and analysts with an update on Samsara's financial health and operational performance, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.

Key Players & Entities

• Samsara Inc. (company) — Filer of the 10-Q
• 20240504 (date) — End of the reporting period
• 0201 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 par value per share IOT The New York St

Filing Documents

• iot-20240504.htm (10-Q) — 1018KB
• exhibit101-employmentlette.htm (EX-10.1) — 42KB
• exhibit102-employmentlette.htm (EX-10.2) — 11KB
• samsaraex-311peoxq12025.htm (EX-31.1) — 11KB
• samsaraex-312pfoxq12025.htm (EX-31.2) — 11KB
• samsaraex-321peoxq12025.htm (EX-32.1) — 5KB
• samsaraex-322pfoxq12025.htm (EX-32.2) — 5KB
• samsara_owlxblack.jpg (GRAPHIC) — 42KB
• samsara_owlxblack1.jpg (GRAPHIC) — 42KB
• 0001642896-24-000047.txt ( ) — 6216KB
• iot-20240504.xsd (EX-101.SCH) — 38KB
• iot-20240504_cal.xml (EX-101.CAL) — 64KB
• iot-20240504_def.xml (EX-101.DEF) — 201KB
• iot-20240504_lab.xml (EX-101.LAB) — 529KB
• iot-20240504_pre.xml (EX-101.PRE) — 381KB
• iot-20240504_htm.xml (XML) — 888KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets as of May 4 , 202 4 and February 3 , 202 4 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended May 4 , 202 4 and April 29, 202 3 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended May 4, 2024 and April 29, 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended May 4, 2024 and April 29, 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 1 Table of Conten t s SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q 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 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 ability to attract, retain, and expand our relationships with customers; 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 avail

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) SAMSARA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) As of May 4, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 162,466 $ 135,536 Short-term investments 431,862 412,126 Accounts receivable, net 143,786 161,829 Inventories 30,510 22,238 Connected device costs, current 107,819 104,008 Prepaid expenses and other current assets 47,289 51,221 Total current assets 923,732 886,958 Restricted cash 19,202 19,202 Long-term investments 250,623 276,166 Property and equipment, net 55,913 54,969 Operating lease right-of-use assets 77,337 81,974 Connected device costs, non-current 233,030 230,782 Deferred commissions 182,679 177,562 Other assets, non-current 6,917 7,232 Total assets $ 1,749,433 $ 1,734,845 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 41,228 $ 46,281 Accrued expenses and other current liabilities 60,566 61,437 Accrued compensation and benefits 32,465 37,068 Deferred revenue, current 447,031 426,369 Operating lease liabilities, current 20,005 20,661 Total current liabilities 601,295 591,816 Deferred revenue, non-current 140,986 139,117 Operating lease liabilities, non-current 73,618 78,830 Other liabilities, non-current 9,646 9,935 Total liabilities 825,545 819,698 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value— 400,000,000 shares authorized as of May 4, 2024 and February 3, 2024; zero shares issued and outstanding as of May 4, 2024 and February 3, 2024 — — Class A common stock, $ 0.0001 par value— 4,000,000,000 shares authorized as of May 4, 2024 and February 3, 2024; 217,102,019 and 200,989,931 shares issued and outstanding as of May 4, 2024 and February 3, 2024, respectively 10 9 Class B common stock, $ 0.0001 par value— 600,000,000 shares authorized as of May 4, 2024 and February 3, 2024; 333,703,139 and 344,983,598 shares issu

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View this 10-Q filing on SEC EDGAR