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Samsara Reports Second Quarter Fiscal Year 2024 Financial Results

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  • Q2 revenue of $219.3 million, representing 43% year-over-year growth
  • Ending ARR of $930.0 million, representing 40% year-over-year growth
  • 1,515 customers with ARR over $100,000, up 53% year-over-year

SAN FRANCISCO–(BUSINESS WIRE)–Samsara Inc. (NYSE: IOT), the pioneer of the Connected Operations Cloud, reported financial results for the second quarter ended July 29, 2023, and released a shareholder letter accessible from the Samsara investor relations website at investors.samsara.com.


“We achieved another strong quarter as we continue to deliver clear, rapid ROI for the world’s leading, most complex physical operations organizations,” said Sanjit Biswas, CEO and co-founder of Samsara. “In Q2, we ended at $930 million in ARR, growing 40% year-over-year. In addition to our continued customer growth, we are proud to have achieved our first adjusted free cash flow positive quarter.”

Second Quarter Fiscal Year 2024 Financial Highlights

(In millions, except percentage, percentage points, and per share data)

 

Q2 FY2024

 

Q2 FY2023

 

Y/Y Change

Annual Recurring Revenue (ARR)

$

930.0

 

 

$

662.8

 

 

 

40

%

Total revenue

$

219.3

 

 

$

153.5

 

 

 

43

%

GAAP gross profit

$

160.4

 

 

$

109.3

 

 

$

51.1

 

GAAP gross margin

 

73

%

 

 

71

%

 

2

pts

Non-GAAP gross profit

$

163.7

 

 

$

111.9

 

 

$

51.8

 

Non-GAAP gross margin

 

75

%

 

 

73

%

 

2

pts

GAAP operating loss

$

(69.8

)

 

$

(65.8

)

 

$

(4.0

)

GAAP operating margin

 

(32

%)

 

 

(43

%)

 

11

pts

Non-GAAP operating loss

$

(5.9

)

 

$

(20.2

)

 

$

14.3

 

Non-GAAP operating margin

 

(3

%)

 

 

(13

%)

 

10

pts

GAAP net loss per share, basic and diluted

$

(0.11

)

 

$

(0.13

)

 

$

0.02

 

Non-GAAP net income (loss) per share, basic and diluted

$

0.01

 

 

$

(0.04

)

 

$

0.05

 

Net cash provided by (used in) operating activities

$

7.7

 

 

$

(37.0

)

 

$

44.7

 

Free cash flow

$

4.7

 

 

$

(43.2

)

 

$

47.9

 

Adjusted free cash flow

$

4.7

 

 

$

(38.4

)

 

$

43.1

 

Net cash provided by (used in) operating activities margin

 

4

%

 

 

(24

%)

 

28

pts

Free cash flow margin

 

2

%

 

 

(28

%)

 

30

pts

Adjusted free cash flow margin

 

2

%

 

 

(25

%)

 

27

pts

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles (“GAAP”). See the section titled “Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures and the tables in the section titled “Reconciliation Between GAAP and Non-GAAP Financial Measures” for a reconciliation of GAAP to non-GAAP financial measures.

Financial Outlook

Our guidance includes GAAP and non-GAAP financial measures. For the third quarter and fiscal year 2024, Samsara expects the following:

 

Q3 FY2024 Outlook

 

FY 2024 Outlook

Total revenue

$223 million – $225 million

 

$896 million – $900 million

Year/Year growth

31% – 33%

 

37% – 38%

Non-GAAP operating margin

(2%)

 

(3%)

Non-GAAP net income per share, diluted

$0.00 – $0.01

 

$0.00 – $0.02

A reconciliation of non-GAAP guidance financial measures to corresponding GAAP guidance financial measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty and potential variability of expenses, such as stock-based compensation expense-related charges, that may be incurred in the future and cannot be reasonably determined or predicted at this time. It is important to note that these factors could be material to our results of operations computed in accordance with GAAP.

About Samsara

Samsara is the pioneer of the Connected Operations™ Cloud, which is a platform that enables organizations that depend on physical operations to harness Internet of Things (IoT) data to develop actionable insights and improve their operations. With tens of thousands of customers across North America and Europe, Samsara is a proud technology partner to the people who keep our global economy running, including the world’s leading organizations across construction, transportation and warehousing, field services, manufacturing, retail, logistics, and public sector. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, the calculation of certain of our key financial and operating metrics, our market opportunity, industry developments and trends, customer demand for our solution, macroeconomic conditions and any expected benefits of our products, and our competitive position, as well as assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and could cause actual results and events to differ. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “guidance,” “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. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made, including information furnished to us by third parties that we have not independently verified, and/or management’s good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

These risks and uncertainties include our ability to retain customers and expand the Applications used by our customers, our ability to attract new customers, our future financial performance, including trends in revenue and annual recurring revenue, net retention rate, costs of revenue, gross profit or gross margin, operating expenses, customer counts, non-GAAP financial measures (such as non-GAAP gross margin, non-GAAP operating margin, and adjusted free cash flow margin), our ability to achieve or maintain profitability, the demand for our products or for solutions for connected operations in general, the impact of the Russia-Ukraine conflict, geopolitical tensions involving China, the COVID-19 pandemic, and macroeconomic conditions globally on our and our customers’, partners’ and suppliers’ operations and future financial performance, possible harm caused by silicon component shortages and other supply chain constraints, the length of our sales cycles, possible harm caused by a security breach or other incident affecting our or our customers’ assets or data, our ability to compete successfully in competitive markets, our ability to respond to rapid technological changes, and our ability to continue to innovate and develop new Applications. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings and reports that we may file from time to time with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Use of Non-GAAP Financial Measures

This document includes certain non-GAAP financial measures. Reconciliations of non-GAAP financial measures to our financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data.

Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under GAAP. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in our industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. In addition, free cash flow and adjusted free cash flow does not reflect our future contractual commitments or the total increase or decrease of our cash balance for a given period. These and other limitations could reduce the usefulness of these non-GAAP financial measures as analytical tools. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and to not rely on any single financial measure to evaluate our business.

We present these non-GAAP financial measures to assist investors in seeing Samsara’s operating results through the eyes of management, and because we believe that these measures provide an additional tool for investors to evaluate our business.

Expenses Excluded from Non-GAAP Financial Measures—Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer taxes on employee equity transactions, which is a cash expense, is excluded because such taxes are tied to the timing and size of the vesting of the underlying equity awards and the price of our common stock at the time of vesting, which may vary from period to period independent of the operating performance of our business. Lease modification, impairment, and related charges are excluded because such charges are not reflective of our ongoing operational performance.

Operating Metrics and Non-GAAP Financial Measures

Annual Recurring Revenue—We define ARR as the annualized value of subscription contracts that have commenced revenue recognition as of the measurement date.

Non-GAAP Gross Profit and Non-GAAP Gross Margin—We define non-GAAP gross profit as gross profit plus stock-based compensation expense-related charges, including employer taxes on employee equity transactions, included in cost of revenue. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of total revenue. We use non-GAAP gross profit and non-GAAP gross margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP gross profit and non-GAAP gross margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Loss from Operations and Non-GAAP Operating Margin—We define non-GAAP loss from operations, or non-GAAP operating loss, as loss from operations excluding the effect of stock-based compensation expense-related charges, including employer taxes on employee equity transactions, and lease modification, impairment, and related charges. Non-GAAP operating margin is defined as non-GAAP operating loss as a percentage of total revenue. We use non-GAAP loss from operations and non-GAAP operating margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP loss from operations and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Share—We define non-GAAP net income (loss) as net loss excluding the effect of stock-based compensation expense-related charges, including employer taxes on employee equity transactions, and lease modification, impairment, and related charges. Our non-GAAP net income (loss) per share–basic is calculated by dividing non-GAAP net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Our non-GAAP net income per share–diluted is calculated by giving effect to all potentially dilutive common stock equivalents (stock options, restricted stock units, shares issued under our 2021 Employee Stock Purchase Plan) to the extent they are dilutive. Non-GAAP net loss per share–diluted is the same as non-GAAP net loss per share–basic as the inclusion of all potential dilutive common stock equivalents would be antidilutive. We use non-GAAP net income (loss) and non-GAAP net income (loss) per share in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP net income (loss) and non-GAAP net income (loss) per share provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Free Cash Flow and Free Cash Flow Margin—We define free cash flow as net cash provided by (used in) operating activities reduced by cash used for purchases of property and equipment. Free cash flow margin is calculated as free cash flow as a percentage of total revenue. We believe that free cash flow and free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives.

Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin—We define adjusted free cash flow as free cash flow plus non-recurring capital expenditures associated with the build-out of our corporate office facilities in San Francisco, California, net of tenant allowances. Adjusted free cash flow margin is calculated as adjusted free cash flow as a percentage of total revenue. We believe that adjusted free cash flow and adjusted free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives by excluding the impact of non-recurring events.

Webcast Information and Shareholder Letter

An investor presentation and accompanying shareholder letter is accessible from the Samsara investor relations website at https://investors.samsara.com/. Samsara will host a live webcast to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today. The live webcast may be accessed at https://investors.samsara.com/. Following the webcast, a replay will be accessible from the same website.

SAMSARA INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

 

 

 

 

As of

 

July 29, 2023

 

January 28, 2023

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

196,037

 

 

$

200,670

 

Short-term investments

 

528,766

 

 

 

489,192

 

Accounts receivable, net

 

115,422

 

 

 

122,867

 

Inventories

 

21,767

 

 

 

40,571

 

Connected device costs, current

 

94,061

 

 

 

82,046

 

Prepaid expenses and other current assets

 

21,902

 

 

 

22,189

 

Total current assets

 

977,955

 

 

 

957,535

 

Restricted cash

 

24,086

 

 

 

23,096

 

Long-term investments

 

109,723

 

 

 

113,101

 

Property and equipment, net

 

58,405

 

 

 

59,278

 

Operating lease right-of-use assets

 

92,683

 

 

 

112,624

 

Connected device costs, non-current

 

210,500

 

 

 

194,852

 

Deferred commissions

 

153,244

 

 

 

140,166

 

Other assets, non-current

 

16,036

 

 

 

16,356

 

Total assets

$

1,642,632

 

 

$

1,617,008

 

Liabilities and stockholders’ equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

34,675

 

 

$

30,144

 

Accrued expenses and other current liabilities

 

49,508

 

 

 

53,824

 

Accrued compensation and benefits

 

29,869

 

 

 

36,030

 

Deferred revenue, current

 

348,820

 

 

 

300,113

 

Operating lease liabilities, current

 

16,469

 

 

 

22,047

 

Total current liabilities

 

479,341

 

 

 

442,158

 

Deferred revenue, non-current

 

128,217

 

 

 

126,452

 

Operating lease liabilities, non-current

 

89,424

 

 

 

100,873

 

Other liabilities, non-current

 

9,283

 

 

 

9,506

 

Total liabilities

 

706,265

 

 

 

678,989

 

Commitments and contingencies

 

 

 

Stockholders’ equity:

 

 

 

Preferred stock

 

 

 

 

 

Class A common stock

 

8

 

 

 

7

 

Class B common stock

 

23

 

 

 

23

 

Class C common stock

 

 

 

 

 

Additional paid-in capital

 

2,233,533

 

 

 

2,107,013

 

Accumulated other comprehensive loss

 

(1,001

)

 

 

(652

)

Accumulated deficit

 

(1,296,196

)

 

 

(1,168,372

)

Total stockholders’ equity

 

936,367

 

 

 

938,019

 

Total liabilities and stockholders’ equity

$

1,642,632

 

 

$

1,617,008

 

 

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

July 29, 2023

 

July 30, 2022

 

July 29, 2023

 

July 30, 2022

Revenue

$

219,257

 

 

$

153,523

 

 

$

423,577

 

 

$

296,168

 

Cost of revenue

 

58,866

 

 

 

44,257

 

 

 

116,423

 

 

 

83,875

 

Gross profit

 

160,391

 

 

 

109,266

 

 

 

307,154

 

 

 

212,293

 

Operating expenses

 

 

 

 

 

 

 

Research and development

 

63,969

 

 

 

41,847

 

 

 

124,335

 

 

 

82,832

 

Sales and marketing

 

117,908

 

 

 

91,842

 

 

 

236,863

 

 

 

179,291

 

General and administrative

 

48,268

 

 

 

41,359

 

 

 

91,534

 

 

 

85,101

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

 

 

 

1,056

 

Total operating expenses

 

230,145

 

 

 

175,048

 

 

 

452,732

 

 

 

348,280

 

Loss from operations

 

(69,754

)

 

 

(65,782

)

 

 

(145,578

)

 

 

(135,987

)

Interest income and other income (expense), net

 

10,220

 

 

 

1,541

 

 

 

19,115

 

 

 

1,481

 

Loss before provision for income taxes

 

(59,534

)

 

 

(64,241

)

 

 

(126,463

)

 

 

(134,506

)

Provision for income taxes

 

434

 

 

 

40

 

 

 

1,361

 

 

 

763

 

Net loss

$

(59,968

)

 

$

(64,281

)

 

$

(127,824

)

 

$

(135,269

)

Other comprehensive income (loss):

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

2,009

 

 

 

(77

)

 

 

1,096

 

 

 

101

 

Unrealized gains (losses) on investments, net of tax

 

(1,404

)

 

 

 

 

 

(1,445

)

 

 

 

Other comprehensive income (loss)

 

605

 

 

 

(77

)

 

 

(349

)

 

 

101

 

Comprehensive loss

$

(59,363

)

 

$

(64,358

)

 

$

(128,173

)

 

$

(135,168

)

Basic and diluted net loss per share:

 

 

 

 

 

 

 

Net loss per share attributable to common stockholders, basic and diluted

$

(0.11

)

 

$

(0.13

)

 

$

(0.24

)

 

$

(0.27

)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted

 

531,751,683

 

 

 

511,758,439

 

 

 

529,077,540

 

 

 

509,526,709

 

 

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

July 29, 2023

 

July 30, 2022

 

July 29, 2023

 

July 30, 2022

Operating activities

 

 

 

 

 

 

 

Net loss

$

(59,968

)

 

$

(64,281

)

 

$

(127,824

)

 

$

(135,269

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

3,709

 

 

 

2,645

 

 

 

7,193

 

 

 

5,005

 

Stock-based compensation expense

 

59,656

 

 

 

44,340

 

 

 

112,604

 

 

 

87,952

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

 

 

 

1,056

 

Other non-cash adjustments

 

(2,351

)

 

 

765

 

 

 

(8,514

)

 

 

2,882

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable, net

 

(14,055

)

 

 

6,427

 

 

 

6,767

 

 

 

1,637

 

Inventories

 

10,635

 

 

 

2,937

 

 

 

18,803

 

 

 

(5,988

)

Prepaid expenses and other current assets

 

1,422

 

 

 

84

 

 

 

243

 

 

 

(2,912

)

Connected device costs

 

(17,957

)

 

 

(20,402

)

 

 

(27,664

)

 

 

(36,714

)

Deferred commissions

 

(9,560

)

 

 

(4,075

)

 

 

(13,078

)

 

 

(6,333

)

Other assets, non-current

 

(162

)

 

 

(2,922

)

 

 

371

 

 

 

70

 

Accounts payable and other liabilities

 

3,262

 

 

 

(26,986

)

 

 

(5,249

)

 

 

(37,218

)

Deferred revenue

 

27,094

 

 

 

24,712

 

 

 

50,471

 

 

 

40,884

 

Operating lease right-of-use assets and liabilities, net

 

5,995

 

 

 

(222

)

 

 

4,051

 

 

 

(812

)

Net cash provided by (used in) operating activities

 

7,720

 

 

 

(36,978

)

 

 

18,174

 

 

 

(85,760

)

Investing activities

 

 

 

 

 

 

 

Purchase of property and equipment

 

(3,004

)

 

 

(6,262

)

 

 

(5,503

)

 

 

(16,930

)

Purchases of investments

 

(182,000

)

 

 

 

 

 

(374,389

)

 

 

 

Proceeds from sales of investments

 

4,474

 

 

 

 

 

 

4,474

 

 

 

 

Proceeds from maturities and redemptions of investments

 

163,719

 

 

 

 

 

 

340,878

 

 

 

 

Other investing activities

 

(50

)

 

 

 

 

 

(50

)

 

 

 

Net cash used in investing activities

 

(16,861

)

 

 

(6,262

)

 

 

(34,590

)

 

 

(16,930

)

Financing activities

 

 

 

 

 

 

 

Proceeds from issuance of common stock in connection with equity compensation plans

 

13,011

 

 

 

10,455

 

 

 

13,170

 

 

 

10,704

 

Payment of offering costs

 

 

 

 

(466

)

 

 

 

 

 

(2,208

)

Payment of principal on finance leases

 

(467

)

 

 

(246

)

 

 

(915

)

 

 

(487

)

Net cash provided by financing activities

 

12,544

 

 

 

9,743

 

 

 

12,255

 

 

 

8,009

 

Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash

 

372

 

 

 

(205

)

 

 

518

 

 

 

(396

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

3,775

 

 

 

(33,702

)

 

 

(3,643

)

 

 

(95,077

)

Cash, cash equivalents, and restricted cash, beginning of period

 

216,348

 

 

 

882,935

 

 

 

223,766

 

 

 

944,310

 

Cash, cash equivalents, and restricted cash, end of period

$

220,123

 

 

$

849,233

 

 

$

220,123

 

 

$

849,233

 

 

SAMSARA INC.

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages and per share data)

(Unaudited)

 

 

Three Months Ended

 

Six Months Ended

 

July 29, 2023

 

July 30, 2022

 

July 29, 2023

 

July 30, 2022

Gross profit and gross margin reconciliation

 

 

 

 

 

 

 

GAAP gross profit..

$

160,391

 

 

$

109,266

 

 

$

307,154

 

 

$

212,293

 

Add:

 

 

 

 

 

 

 

Stock-based compensation expense-related charges (1)

 

3,292

 

 

 

2,598

 

 

 

6,207

 

 

 

4,358

 

Non-GAAP gross profit

$

163,683

 

 

$

111,864

 

 

$

313,361

 

 

$

216,651

 

GAAP gross margin

 

73

%

 

 

71

%

 

 

73

%

 

 

72

%

Non-GAAP gross margin

 

75

%

 

 

73

%

 

 

74

%

 

 

73

%

 

 

 

 

 

 

 

 

Operating loss and operating margin reconciliation

 

 

 

 

 

 

 

GAAP loss from operations

$

(69,754

)

 

$

(65,782

)

 

$

(145,578

)

 

$

(135,987

)

Add:

 

 

 

 

 

 

 

Stock-based compensation expense-related charges (1)

 

63,850

 

 

 

45,557

 

 

 

120,643

 

 

 

89,224

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

 

 

 

1,056

 

Non-GAAP loss from operations

$

(5,904

)

 

$

(20,225

)

 

$

(24,935

)

 

$

(45,707

)

GAAP operating margin

 

(32

)%

 

 

(43

)%

 

 

(34

)%

 

 

(46

)%

Non-GAAP operating margin

 

(3

)%

 

 

(13

)%

 

 

(6

)%

 

 

(15

)%

 

(1)

 

Stock-based compensation expense-related charges were included in the following line items of our condensed consolidated statements of operations and comprehensive loss as follows:

 

Three Months Ended

 

Six Months Ended

 

July 29, 2023

 

July 30, 2022

 

July 29, 2023

 

July 30, 2022

Cost of revenue

$

3,292

 

$

2,598

 

$

6,207

 

$

4,358

Research and development

 

24,069

 

 

 

14,347

 

 

 

46,122

 

 

 

27,867

 

Sales and marketing

 

18,771

 

 

 

14,699

 

 

 

35,091

 

 

 

29,058

 

General and administrative

 

17,718

 

 

 

13,913

 

 

 

33,223

 

 

 

27,941

 

Total stock-based compensation expense-related charges (2)

$

63,850

 

 

$

45,557

 

 

$

120,643

 

 

$

89,224

 

 

(2)

 

Stock-based compensation expense-related charges included approximately $4.2 million and $8.0 million of employer taxes on employee equity transactions for the three and six months ended July 29, 2023, respectively, and approximately $1.2 million and $1.3 million of employer taxes on employee equity transactions for three and six months ended July 30, 2022, respectively.

Contacts

Investor Contact:
Mike Chang

ir@samsara.com

Media Contact:
Adam Simons

media@samsara.com

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