Samsara has reported financial results for Q1 2023 ended 30 April 2022, revealing year-on-year revenue growth of 63 percent to $142.6m.
The pioneer of the connected operations cloud reported annual recurring revenue (ARR) of $607.2m, representing 59 percent year-on-year growth, and 897 customers with ARR over $100,000, up 73 percent year-on-year.
Samsara reported Q1 GAAP gross profit of $103m, up 41 percent from the same period last year.
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Sanjit Biswas, co-founder and CEO of Samsara, said: “We delivered another strong quarter of growth, surpassing $600m of ARR in just our seventh year since founding. We are continuing to see robust demand for our connected operations cloud. Our customers are digitally transforming their businesses to stay competitive in the current economic environment, and our offerings are becoming a must-have for companies looking to streamline their operations, increase fuel efficiency, and reduce their cost stacks.”
Samsara expects Q2 2023 revenue of between $142m and $144m, representing 41 to 43 percent year-on-year growth. For the full fiscal year 2023, the company expects $590m to $600m, a year-on-year increase of between 38 to 40 percent.
At its customer conference Beyond, Samsara also announced a series of new integrations, partnerships, and product features designed to further transform physical operations, help its customers simplify day-to-day tasks, keep workers safe, and ultimately make their workplaces more connected.
The new innovations include driver workflows, designed to guide drivers and fleet operators through the most mission-critical parts of their day; in-cab nudges, empowering drivers with the opportunity to self-correct risky behaviour by receiving an AI-powered in-cab alert; multi-stop ETAs, providing dispatch and operations teams accurate, up-to-date predicted arrival times at all stops along all active routes, and remote support, allowing administrators to easily view and control mobile devices from anywhere.
Samsara has also announced new partnerships and integrations with Thermo King, General Motors, and Stellantis to provide customers with seamless data access.
Biswas added: “This year’s economic environment is one for the books. The world is facing disrupted supply chains, record gas prices, geopolitical uncertainty and more. Our customers keep the world running. With Samsara, they are managing these challenges by unlocking data from across their business to gain control of their operations. Our platform is essential in helping customers empower their workers and scale operational improvements, which impacts their bottom line.”
