Samsara Inc. Files Q2 2024 10-Q

TL;DR

**Samsara's Q2 10-Q is in! Check financials for FY25 Q2.**

AI Summary

Samsara Inc. filed its 10-Q for the period ending August 3, 2024. The company reported its financial results and provided updates on its business operations. Key financial data and operational details are included in this filing, which is crucial for investors to assess the company's performance and outlook.

Why It Matters

This filing provides investors with a detailed look at Samsara's financial health and operational performance for the second quarter of fiscal year 2025, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and forward-looking statements within can reveal significant risks or opportunities.

Key Players & Entities

• Samsara Inc. (company) — Filer of the 10-Q
• August 3, 2024 (date) — End of the reporting period
• February 1, 2025 (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-20240803.htm (10-Q) — 1235KB
• exhibit101-executivechange.htm (EX-10.1) — 128KB
• samsaraex-311peoxq22025.htm (EX-31.1) — 11KB
• samsaraex-312pfoxq22025.htm (EX-31.2) — 11KB
• samsaraex-321peoxq22025.htm (EX-32.1) — 5KB
• samsaraex-322pfoxq22025.htm (EX-32.2) — 5KB
• 0001642896-24-000064.txt ( ) — 6996KB
• iot-20240803.xsd (EX-101.SCH) — 40KB
• iot-20240803_cal.xml (EX-101.CAL) — 65KB
• iot-20240803_def.xml (EX-101.DEF) — 218KB
• iot-20240803_lab.xml (EX-101.LAB) — 564KB
• iot-20240803_pre.xml (EX-101.PRE) — 408KB
• iot-20240803_htm.xml (XML) — 1068KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets as of August 3, 2024 and February 3, 2024 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended August 3, 2024 and July 29, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended August 3, 2024 and July 29, 2023 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended August 3, 2024 and July 29, 2023 8 Notes to Condensed Consolidated Financial Statements 9 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 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35

SIGNATURES

SIGNATURES 36 1 Table of Contents 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 availab

—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 August 3, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 159,272 $ 135,536 Short-term investments 513,361 412,126 Accounts receivable, net 178,794 161,829 Inventories 38,623 22,238 Connected device costs, current 111,323 104,008 Prepaid expenses and other current assets 38,264 51,221 Total current assets 1,039,637 886,958 Restricted cash 19,431 19,202 Long-term investments 207,705 276,166 Property and equipment, net 57,556 54,969 Operating lease right-of-use assets 72,617 81,974 Connected device costs, non-current 234,354 230,782 Deferred commissions 188,444 177,562 Other assets, non-current 6,398 7,232 Total assets $ 1,826,142 $ 1,734,845 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 47,345 $ 46,281 Accrued expenses and other current liabilities 59,636 61,437 Accrued compensation and benefits 34,875 37,068 Deferred revenue, current 485,909 426,369 Operating lease liabilities, current 19,398 20,661 Total current liabilities 647,163 591,816 Deferred revenue, non-current 136,813 139,117 Operating lease liabilities, non-current 68,300 78,830 Other liabilities, non-current 9,183 9,935 Total liabilities 861,459 819,698 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value— 400,000,000 shares authorized as of August 3, 2024 and February 3, 2024; zero shares issued and outstanding as of August 3, 2024 and February 3, 2024 — — Class A common stock, $ 0.0001 par value— 4,000,000,000 shares authorized as of August 3, 2024 and February 3, 2024; 224,050,531 and 200,989,931 shares issued and outstanding as of August 3, 2024 and February 3, 2024, respectively 10 9 Class B common stock, $ 0.0001 par value— 600,000,000 shares authorized as of August 3, 2024 and February 3, 2024; 332,310,673 and 344

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View this 10-Q filing on SEC EDGAR