Samsara Inc. · NYSE:IOT
Samsara — Q2 2024 Earnings Presentation
23 slides from Samsara's earnings presentation, Aug 31, 2023
Slide 1: Q2 FY 2024 Investor Presentation
Q2 FY 2024 Investor Presentation August 31, 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: Q2 FY24 Business Highlights
Q2 FY24 Business Highlights © Samsara Inc.
Slide 4: Samsara—The Connected Operations Cloud
$930M Q2 FY24 ARR1 40% Y/Y ARR Growth Samsara—The Connected $5M Adj. Free Cash Flow Operations Cloud 1,515 Customers with OUR MISSION $100K+ ARR To increase the safety, efficiency, 53% and sustainability of the operations that Y/Y Large Customer Growth power the global economy Fiscal year ends on the
Slide 5: Samsara Connected Operations Awards winners
WINNER WINNER Safest Operator Operations Innovator WINNER WINNER Excellence in Most Sustainable Efficiency Operations The Samsara Connected Operations Awards is our awards program to honor fleets, operations, and individuals for their achievements in safety, efficiency, performance, sustainability, and i
Slide 6: Reshaping the Worker Experience
WIP Reshaping the Worker Experience ONE OF THE LARGEST AIR CARRIERS IN THE WORLD Using Vehicle Telematics and Equipment Monitoring applications to manage thousands of pieces of equipment, from baggage carts to passenger boarding stairs and more. Impact: 2,600 Hours1 Reduced Delays saved searching fo
Slide 7: New Product Announcements
New Product Announcements Connected Forms Mobile Experience Management (MEM) Boost productivity Streamline mobile operations Digitize any form & save time with centralized data Easily configure and secure mobile devices at scale Prevent accidents and costly downtime Unlock employee productivity Accel
Slide 8: Building for the Long Term
Customer-Centric Innovation New feature announcements: Virtual Coach, Find My Asset, and Data Connectors Building Our Newest Board Member for the Introducing Todd Bluedorn Long Term A Great Place to Work
Slide 9: Q2 FY24 Financial Highlights
Q2 FY24 Financial Highlights © Samsara Inc.
Slide 10: Rapid Growth at Scale
10 Rapid Growth at Scale © Samsara Inc. NET NEW ARR ($M) ARR ($M) GAAP REVENUE ($M) Y/Y Growth Fiscal year ends on the Saturday closest to February 1
Slide 11: Large Customer Momentum
11 Large Customer Momentum © Samsara Inc. $100K+ ARR CUSTOMERS ARR MIX $100K+ ARR Customers CORE CUSTOMERS $5K–$100K ARR Customers <$5K ARR Customers Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q2 FY22 Q2 FY23 Q2 FY24 Y/Y Growth Fiscal year ends on the Saturday closest to February 1
Slide 12: Land and Expand Strength
12 Land and Expand Strength © Samsara Inc. NET NEW ACV SPLIT 49% New Customers 7 of Top 10 net new ACV deals were new logos 51% Customer Expansion $1M+ Video-based Safety expansion deal Figures as of Q2 FY24
Slide 13: Continued Success in New Frontiers
13 Continued Success in New Frontiers © Samsara Inc. LARGEST EVER PUBLIC SECTOR MOMENTUM END MARKET DIVERSITY EQUIPMENT MONITORING DEAL new smart equipment graphic 2 of Top 5 new deals from public sector 84% ~$1M net new ACV from net new ACV 2 of Top 5 non-transportation customers expansion deals fr
Slide 14: Improving Operating Efficiency
14 72% Improving Operating Efficiency © Samsara Inc. NON-GAAP GROSS MARGIN NON-GAAP OPERATING MARGIN ADJ. FREE CASH FLOW MARGIN Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 +2 pp +10 pp +27 pp Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 RULE OF 40 27% 40% 45% 42% 45% Fis
Slide 15: Financial Guidance
15 © Samsara Inc. Financial Guidance Q3 FY24 FY24 Total Revenue $223 million - $225 million $896 million - $900 million Y/Y Growth 31% - 33% growth 37% - 38% growth Non-GAAP Operating Margin %1 (2%) (3%) Non-GAAP EPS1 $0.00 - $0.01 $0.00 - $0.02 Fiscal year ends on the Saturday closest to February 1
Slide 16: Q&A
Q&A —— © Samsara Ine. samsara
Slide 17: Appendix
Appendix —— © Samsara Ine. samsara
Slide 18: Comparison to Previously Issued Guidance
18 Comparison to Previously Issued Guidance © Samsara Inc. Q2 FY24 FY24 $16 $12 $12 Revenue ($M) $898 $207 $219 $870 Current Prev. Guidance Q2 Actual Prev. Guidance Q2 Guidance Guidance Midpoint1 Performance Results Midpoint1 Performance Change Midpoint Growth Y/Y 35% 43% 33% 38% Fiscal year ends on
Slide 19: GAAP to Non-GAAP Reconciliations
19 Note: Figures (other than %’s) in $000’s GAAP to Non-GAAP Reconciliations © Samsara Inc. FY21 FY22 FY23 Q2 FY23 Q2 FY24 GAAP gross profit $174,512 $303,861 $469,889 $109,266 $160,391 GAAP gross margin 70% 71% 72% 71% 73% Add: Stock-based compensation $13 $6,344 $9,466 $2,598 $3,292 expense-related
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 Q2 FY23 Q2 FY24 GAAP S&M expense $202,262 $291,209 $370,098 $91,842 $117,908 GAAP S&M margin (% of total revenue) 81% 68% 57% 60% 54% Less: Stock-based compensation ($6,947) ($62,548) ($54,072)
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 Q2 FY23 Q2 FY24 GAAP operating loss ($209,479) ($353,848) ($259,455) ($65,782) ($69,754) GAAP operating margin (84%) (83%) (40%) (43%) (32%) Add: Stock-based compensation $25,564 $238,238 $181,
Slide 22: Definitions / Methodology
22 Definitions / Methodology © Samsara Inc. Annual Contract Value (ACV) Customer We define ACV as the annualized value of a customer's total contract value for We define a customer as an entity that has an ARR of greater than $1,000 at the Samsara products as of the measurement date. end of a reporting
Slide 23: Samsara
samsara