Summary
Samsara reported first quarter fiscal 2025 revenue of $280.7 million, up 37% from the prior-year quarter. The top line was supported by ending ARR of $1.176 billion, also up 37% year over year. Customers with ARR over $100,000 reached 1,964, up 43%. GAAP gross profit rose to $212.1 million. GAAP gross margin was 75.6%, up from the prior-year quarter. The company still posted a GAAP operating loss of $66.0 million, narrower than the prior-year quarter. GAAP net loss was $56.3 million, or $0.10 per diluted share, also narrower than the prior-year quarter. Operating margin improved to negative 23.5%.
Non-GAAP results showed a different profitability picture. Non-GAAP gross profit was $215.9 million, with non-GAAP gross margin of 77%, compared with $149.7 million and 73% a year earlier. Non-GAAP operating income was $6.2 million, versus a non-GAAP operating loss of $19.0 million. Non-GAAP operating margin was 2%, compared with negative 9%. Non-GAAP net income was $15.9 million, or $0.03 per diluted share, compared with a non-GAAP net loss of $11.1 million, or $0.02 per diluted share. The gap between GAAP and non-GAAP results reflects stock-based compensation expense-related charges and other excluded items. These are non-GAAP measures, not substitutes for GAAP figures.
Cash generation improved. Net cash provided by operating activities was $23.7 million, up from the prior-year quarter. Free cash flow, a non-GAAP measure, was $18.6 million, compared with $8.0 million. Adjusted free cash flow was $18.6 million, compared with negative $2.2 million. Capital expenditures were $5.1 million, up from the prior-year quarter. Deferred revenue was $588.0 million, up 30.7% from the prior-year quarter. Remaining performance obligations were $2.15 billion, up 41.6% from the prior-year quarter. The company continues to invest in its Connected Operations Cloud and expects those investments to support future growth.
Guidance points to continued growth but at a slower rate. For the second quarter of fiscal 2025, Samsara expects year-over-year revenue growth of 31% to 32%. For the full fiscal year 2025, it expects year-over-year revenue growth of 29%. Full-year adjusted revenue growth is guided to 31% to 32%. The second-quarter non-GAAP operating margin outlook is negative 2% to 3%. Non-GAAP net income per diluted share is guided to $0.00 to $0.01 for the second quarter and $0.13 to $0.15 for the full fiscal year. Management will host an Investor Day on June 27, 2024.
Risks remain. The company cites macroeconomic trends such as inflationary pressure, interest rate increases, supply chain disruptions, labor shortages, and reduced IT spending. It also points to customer retention and expansion, competition, rapid technological change, security breaches, and geopolitical conflicts including Russia-Ukraine, China tensions, and Israel and Gaza. Samsara's ability to attract new customers and expand within its existing base will shape future results. The company expects research and development, sales and marketing, and general and administrative expenses to generally increase in absolute dollars for the foreseeable future.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q1 FY2025 | Q4 FY2024 | QoQ | Q1 FY2024 | YoY |
|---|---|---|---|---|---|
| Revenue | $280.7M | $276.3M | +1.6% | $204.3M | +37.4% |
| Gross profit | $212.1M | $207.3M | +2.3% | $146.8M | +44.5% |
| Gross margin | 75.5% | 75.0% | +0.5 pp | 71.8% | +3.7 pp |
| Research & development | $73.0M | $73.4M | -0.6% | $60.4M | +20.9% |
| Sales & marketing | $147.4M | $133.0M | +10.8% | $119.0M | +23.9% |
| General & administrative | $57.7M | $55.2M | +4.6% | $43.3M | +33.3% |
| Total operating expenses | $278.1M | $330.3M | -15.8% | $222.6M | +24.9% |
| Operating income (loss) | -$66.0M | -$123.0M | +46.3% | -$75.8M | +13.0% |
| Operating margin | -23.5% | -44.5% | +21.0 pp | -37.1% | +13.6 pp |
| Net income (loss) | -$56.3M | -$113.4M | +50.3% | -$67.9M | +17.0% |
| Net margin | -20.1% | -41.0% | +21.0 pp | -33.2% | +13.2 pp |
| Diluted EPS | -$0.10 | -$0.21 | +$0.11 | -$0.13 | +$0.03 |
Risks
MD&A highlights that unfavorable economic conditions in the United States and abroad, including inflationary pressure, interest rate changes, supply chain disruptions, geopolitical conflicts such as Russia-Ukraine, China tensions, Israel-Gaza, and election uncertainty, could reduce customer IT spending and affect growth. The company specifically monitors these global events for effects on customers and suppliers.
MD&A discloses an accumulated deficit of $1,511.4 million as of May 4, 2024, and states the company has generated negative cash flows from operations in each of the past two fiscal years. If negative cash flows return in future quarters, the company may need additional equity or debt financing and may not be able to raise it on acceptable terms or at all.
MD&A notes that the OECD Pillar Two global minimum corporate tax of 15% will apply to the company beginning in fiscal year 2026 as various governments enact legislation. The final Pillar Two model rules and their application remain uncertain, and the company will continue monitoring potential impacts.
SaaS KPIs
All quarters →Non-GAAP Operating Margin
Adjusted Free Cash Flow Margin
Customers > $100,000 ARR
Annual Recurring Revenue (ARR)
Free Cash Flow Margin
Summary, forecast, risks and KPIs are extracted from Samsara Inc.'s SEC filings for Q1 FY2025 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Oct 2, 2026.