Q2 23 EPS
$-0.04
BEAT +42.86%
Est. $-0.07
Q2 23 Revenue
$153.5M
BEAT +7.36%
Est. $143.0M
vs S&P Since Q2 23
+21.6%
BEATING MARKET
IOT +103.4% vs S&P +81.8%
Market Reaction
Did IOT Beat Earnings? Q2 2023 Results
Samsara posted a notably strong second quarter for fiscal 2023, beating consensus expectations on both the top and bottom lines as accelerating subscription momentum drove revenue to $153.52 million, a 51.9% year-over-year increase that cleared the $… Read more Samsara posted a notably strong second quarter for fiscal 2023, beating consensus expectations on both the top and bottom lines as accelerating subscription momentum drove revenue to $153.52 million, a 51.9% year-over-year increase that cleared the $143.00 million analyst estimate by 7.36%. The connected operations platform reported a non-GAAP loss per share of $0.04, better than the $0.07 consensus by 42.86%, with the improvement driven largely by operating leverage as annual recurring revenue climbed 52% to $662.80 million and the count of large customers contributing over $100,000 in ARR rose 61% to 989. CEO Sanjit Biswas noted that customers are leaning into Samsara's platform as a cost-control tool amid inflationary and labor-market pressures, a dynamic the company expects to sustain demand. Looking ahead, management guided Q3 revenue of $154 million to $156 million and full-year fiscal 2023 revenue of $610 million to $614 million, implying 42-43% annual growth, with a non-GAAP net loss per share of $0.21 to $0.23 for the year.
Key Takeaways
- • 52% year-over-year revenue growth driven by subscription momentum
- • ARR reached $662.8 million, up 52% year-over-year
- • 989 customers with ARR over $100,000, up 61% year-over-year
- • Existing customers doubling down on Samsara investment amid macroeconomic challenges
- • Non-GAAP operating margin improved 17 percentage points year-over-year to (13%)
- • Adjusted free cash flow margin improved 21 percentage points year-over-year
IOT YoY Financials
Q2 2023 vs Q2 2022, source: SEC Filings
“We delivered another strong quarter of growth at scale, surpassing $660 million of ARR, growing more than 50% year-over-year.”
— Sanjit Biswas, Q2 2023 Earnings Press Release
IOT Earnings Trends
IOT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IOT EPS Trend
Earnings per share: estimate vs actual
IOT Revenue Trend
Quarterly revenue: estimate vs actual
IOT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 | — | — | — | — | — |
| Q3 26 BEAT | $0.12 | $0.15 | +26.37% | $416.0M | +4.25% |
| Q2 26 BEAT | $0.07 | $0.12 | +65.52% | $391.5M | +5.17% |
| Q1 26 BEAT | $0.06 | $0.11 | +91.64% | $366.9M | +4.39% |
| Q4 25 BEAT FY | $-0.07 | $0.11 | +257.14% | $346.3M | — |
| FY Full Year | $0.22 | $0.26 | +17.22% | $1.25B | +0.82% |
| Q2 23 BEAT | $-0.07 | $-0.04 | +42.86% | $153.5M | +7.36% |