Samsara Inc. · NYSE:IOT
Samsara — Q1 2024 Earnings Presentation
24 slides from Samsara's earnings presentation, Jun 1, 2023
Slide 1: Q1 FY 2024 Investor Presentation
Q1 FY 2024 Investor Presentation June 1, 2023
Slide 2: Disclaimer and Statement Regarding Use of Non-GAAP Measures
2 Disclaimer and Statement Regarding Use of Non-GAAP Measures © Samsara Inc. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and The trademarks included herein are the property of the owners thereof and are used for reference purp
Slide 3: Q1 FY24 Business Highlights
Q1 FY24 Business Highlights © Samsara Inc.
Slide 4: Samsara—The Connected Operations Cloud
$856M Q1 FY24 ARR1 41% Samsara—The Connected YoY ARR Growth Operations Cloud 1,375 Customers with OUR MISSION $100K+ ARR To increase the safety, efficiency, 53% and sustainability of the operations that YoY Large Customer Growth power the global economy Fiscal year ends on the Saturday closest to Febr
Slide 5: Samsara Delivering Rapid ROI and High Business Impact
5 © Samsara Inc. The Connected Operations Cloud Samsara Delivering Rapid ROI and High Business Impact Our AI-based safety technologies help reduce risk across operations Our digital workflows are increasing efficiency for front-line workers Our platform and data integrations are helping drive higher as
Slide 6: Utilizing AI to improve safety and efficiency
6 Utilizing AI to improve © Samsara Inc. safety and efficiency 54% 91% 97% Reduction in Reduction in Reduction in no seat safety events mobile usage belt usage 4 month 3x+ payback period ROI Global leader in storage and information management services Multi-Product Subscriptions Safety Telematics Equi
Slide 7: Our competitive advantages
7 © Samsara Inc. Our competitive advantages 01 Volume and breadth of Samsara data to train AI models 02 Infrastructure designed to scale and rapidly deliver new AI features 03 Customer feedback loop to accelerate our AI innovation
Slide 8: Data-driven insights enabling customer ESG goals
Data-driven insights enabling customer ESG goals SOCIAL IMPACT ENVIRONMENTAL IMPACT
Slide 9: Building for the long term
Lara Caimi Introducing our new President of Worldwide Field Operations Building for the long term Beyond 2023 Samsara’s annual customer conference in Texas
Slide 10: Q1 FY24 Financial Highlights
Q1 FY24 Financial Highlights © Samsara Inc.
Slide 11: Rapid growth at scale
11 Rapid growth at scale © Samsara Inc. ARR ($M) Net New ARR ($M) GAAP Revenue ($M) 41% 52% 24% 43% 20% Q1 FY23 Q1 FY24 Q1 FY22 Q1 FY23 Q1 FY24 FY22 FY23 Q1 FY23 Q1 FY24 Fiscal year ends on the Saturday closest to February 1
Slide 12: Large customer momentum
12 Large customer momentum © Samsara Inc. $100K+ ARR Customers ARR Mix 53% $100K+ ARR Customers Core Customers $5K–$100K ARR Customers <$5K ARR Customers Q1 FY23 Q1 FY24 Q1 FY22 Q1 FY23 Q1 FY24 Fiscal year ends on the Saturday closest to February 1
Slide 13: Customer expansions driving growth and scale
13 Customer expansions driving growth and scale © Samsara Inc. Net New ACV Split 40% New Customers 8 of Top 10 Net New ACV deals were customer expansions 60% Customer Expansion Figures as of Q1 FY24
Slide 14: Continued success in new frontiers
14 Continued success in new frontiers © Samsara Inc. Non-vehicle Applications International Diverse End Markets ~$100M 17% 83% ARR from NN ACV from NN ACV from Equipment Monitoring non-US customers non-transportation customers Figures as of Q1 FY24
Slide 15: Improving operating efficiency
15 72% Improving operating efficiency © Samsara Inc. Non-GAAP Gross Margin Non-GAAP Operating Margin Adj. Free Cash Flow Margin Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 0 pp +9 pp +35 pp Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 RULE OF 40 27% 27% 40% 45% 42% Fisca
Slide 16: Financial guidance
16 © Samsara Inc. Financial guidance Q2 FY24 FY24 Total Revenue $206 million - $208 million $866 million - $874 million Y/Y Growth 34% - 35% growth 33% - 34% growth Non-GAAP Operating Margin %1 (9%) (5%) Non-GAAP EPS1 ($0.03) - ($0.02) ($0.02) - $0.00 Fiscal year ends on the Saturday closest to Febr
Slide 17: Q&A
Q&A —— © Samsara Ine. samsara
Slide 18: Appendix
Appendix —— © Samsara Ine. samsara
Slide 19: Comparison to previously issued guidance
19 Comparison to previously issued guidance © Samsara Inc. Q1 FY24 FY24 $14 $13 $13 Revenue ($M) $870 $191 $204 $843 Current Prev. Guidance Q1 Actual Prev. Guidance Q1 Guidance Guidance Midpoint1 Performance Results Midpoint1 Performance Change Midpoint Growth Y/Y 34% 43% 29% 33% Fiscal year ends on
Slide 20: GAAP to Non-GAAP Reconciliations
20 Note: Figures (other than %’s) in $000’s GAAP to Non-GAAP Reconciliations © Samsara Inc. FY21 FY22 FY23 1Q23 1Q24 GAAP S&M expense $202,262 $291,209 $370,098 $87,449 $118,955 Less: Stock-based compensation ($6,947) ($62,548) ($54,072) ($14,359) ($16,320) expense-related charges Non-GAAP S&M expen
Slide 21: GAAP to Non-GAAP Reconciliations
21 Note: Figures (other than %’s) in $000’s GAAP to Non-GAAP Reconciliations © Samsara Inc. FY21 FY22 FY23 1Q23 1Q24 GAAP G&A expense $75,223 $159,843 $170,785 $43,742 $43,266 Less: Stock-based compensation ($4,821) ($66,497) ($53,702) ($14,028) ($15,505) expense-related charges Non-GAAP G&A expense
Slide 22: GAAP to Non-GAAP Reconciliations
22 Note: Figures (other than %’s) in $000’s GAAP to Non-GAAP Reconciliations © Samsara Inc. FY21 FY22 FY23 1Q23 1Q24 GAAP operating loss ($209,479) ($353,848) ($259,455) ($70,205) ($75,824) GAAP operating margin (84%) (83%) (40%) (49%) (37%) Add: Stock-based compensation $25,564 $238,238 $181,424 $4
Slide 23: Definitions / Methodology
23 Definitions / Methodology © Samsara Inc. Annual Contract Value (ACV) Large Customer We define ACV as the annualized value of a customer's total contract value for We define a large customer as an entity that has an ARR of greater than $100,000 Samsara products as of the measurement date. at the end
Slide 24: Samsara
samsara