Samsara (IOT) Stock Soars 14% as Earnings Crush Estimates Again
TLDR
- Samsara reported Q2 revenue of $508.4 million, up 30% year over year, beating the $483 million estimate
- Adjusted EPS came in at 20 cents, beating the 16 cents Wall Street expected
- Annual recurring revenue hit $2.125 billion, also up 30%, with a record 242 customers adding $100K+ ARR
- Samsara raised its full-year revenue outlook to $2.043B-$2.047B, up from $2.005B-$2.013B
- IOT stock rose 14.4% on Friday, following a 5.3% gain the day before
Samsara posted strong fiscal second-quarter results Thursday after the bell, sending IOT stock up 14.4% on Friday to around $44.33. The stock had already gained 5.3% on Thursday, closing at $38.75 ahead of the report.
Q2 revenue came in at $508.4 million, up 30% year over year and well ahead of the $483 million analyst consensus. Adjusted earnings per share of 20 cents beat the 16 cents Wall Street had penciled in.
It was also Samsara’s fourth straight quarter of GAAP profit, a milestone worth noting for a company that was burning cash not long ago.
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