The company reported revenue growth of 40% Y/Y to $237.5 million, beating the consensus of $224.7 million.
ARR of $1.003 billion represented 39% Y/Y growth. Samsara ended Q3 with 1,663 customers with ARR over $100,000, up 49% Y/Y.
Non-GAAP gross margin expanded 1ppt y/y to 75%. Non-GAAP operating margin stood at 5% vs. margin loss of (10)% a year ago.
Non-GAAP EPS of $0.04 beat the consensus of $0.01.
Samsara reported an adjusted free cash flow of $8.5 million. As of October 28, 2023, cash and cash equivalents stood at $208.1 million.
Samsara raised the FY24 revenue outlook to $918 million – $920 million from $896 million-$900 million (vs. consensus $898.76 million) and non-GAAP EPS to $0.05 – $0.06 from $0.00-$0.02 (vs. consensus of $0.02).
Price Action: IOT shares are trading higher by 13.65% at $31.30 premarket on the last check Friday.
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