Samsara sees Internet of “Wins” amid Q2 customer growth

Sanjit Biswas Samsara CEO | Samsara becomes cash-flow positive amid Q2 customer growth

Samsara has revealed its Q2 results, demonstrating higher revenue and cash-flow positivity as customers continue to bet on its internet-of-things platform.

The vendor behind the Internet of Things-encompassing Connected Operations Cloud platform recorded $219.3m revenue for the quarter ended July 29, 2023, representing 43 percent year-on-year (YoY) growth as Samsara boosted 1,515 customers with ARR over $100,000, up 53 percent YoY.

Sanjit Biswas, co-founder and CEO of Samsara, said: “In addition to our continued customer growth, we are proud to have achieved our first adjusted free cash flow positive quarter.”

Samsara also ended Q2 with $930m in ARR, demonstrating 40 percent growth YoY, continuing its large customer momentum and adding a record 140 customers, bringing it to over 1,500 customers with $100k+ in ARR.

Some of the company’s latest customer additions include New Jersey Transit, National Grid, Boart Longyear (world’s leading provider of drilling services), and multiple Fortune 1000 customers such as Wayne-Sanderson Farms and one of the largest retailers of automotive aftermarket parts with over 6,000 stores across 48 US states.

In addition to praising the continued customer growth, Biswas said: “Our vision is to be a multi-decade partner for our customers in digitizing their operations, and we are proud to have achieved this milestone towards becoming a self-sustaining business.”

Alongside the quarterly results, the San Francisco-based company made two new product announcements: Connected Forms and Mobile Experience Management, with the former allowing customers to digitize any custom form, such as inspections or incident reports and enabling workers to complete them on the go.

Mobile Experience Management, in turn, allows operations leaders to easily customize, control, consolidate and secure devices for the remote environments their frontline teams operate in.