September 6, 2024 - $Samsara (IOT.US)$ shares surged 15.12% to $44.61  on Friday. The company has reported financial results for the second quarter ended August 3, 2024, and released a shareholder letter.

Q2 Highlights

• Q2 revenue of $300.2 million, representing 37% year-over-year growth

• Ending ARR of $1.264 billion, representing 36% year-over-year growth

• 2,133 customers with ARR over $100,000, up 41% year-over-year

Financial Outlook

“We achieved another strong quarter of durable and efficient growth at a greater scale,” said Sanjit Biswas, CEO and co-founder of Samsara. “Q2 ended at $1.264 billion in ARR, growing 36% year-over-year, and at a quarterly record non-GAAP operating margin. As we grow our business, our data asset also scales. We’re proud to have achieved an important company milestone this quarter—we now collect more than 10 trillion data points annually on the Samsara platform.”

About Samsara

Samsara is the pioneer of 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. 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 industries in transportation, construction, wholesale and retail trade, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, food and beverage, and others. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.