SAMSARA INC Reports Earnings Results for FY2024 Q2, Ending July 31 2023
September 3, 2023
🌥️Earnings Overview
On August 31 2023, SAMSARA INC ($NYSE:IOT) reported their financial results for Q2 of fiscal year 2024, which ended on July 31 2023. Their total revenue increased by an impressive 42.8% year over year, amounting to USD 219.3 million. Furthermore, their net income of USD -60.0 million showed significant improvement compared to the -64.3 million reported in the same period last year.
Stock Price
On Thursday, SAMSARA INC reported its earnings results for the second quarter of fiscal year 2024, ending July 31 2023. At the open of the trading day, SAMSARA INC stock was priced at $27.3 and eventually closed the day at $27.4, a 2.2% increase from the previous closing price of 26.8. The quarterly earnings report revealed that the company had seen an impressive increase in revenue. This strong financial performance was driven by a combination of higher sales volumes and improved operational efficiency.
The company also announced that they have made strategic investments in their research and development activities, which has enabled them to further increase their competitive advantage. Overall, SAMSARA INC is in a strong financial position and is continuously striving to grow their business operations. They remain confident that their efforts in developing cutting-edge technologies will continue to generate positive returns for their shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Samsara Inc. More…
| Total Revenues | Net Income | Net Margin |
| 779.95 | -239.98 | -30.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Samsara Inc. More…
| Operations | Investing | Financing |
| 0.91 | -649.51 | 18.46 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Samsara Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.64k | 706.26 | 1.77 |
Key Ratios Snapshot
Some of the financial key ratios for Samsara Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 75.9% | – | -34.5% |
| FCF Margin | ROE | ROA |
| -2.7% | -18.1% | -10.2% |
Analysis
GoodWhale performed an analysis of SAMSARA INC‘s financials and found it to be strong in assets and growth, but weak in dividends and profitability. We classified SAMSARA INC as a ‘cheetah’, a type of company that achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors who are looking for a higher risk, higher reward opportunity may be interested in SAMSARA INC. Despite the fact that it is less stable than other companies, it still carries an intermediate health score of 6/10 with regard to its cashflows and debt, suggesting that it may be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
Its competitors include Veritone Inc, Data443 Risk Mitigation Inc, and Backblaze Inc.
– Veritone Inc ($NASDAQ:VERI)
Veritone Inc is a media and artificial intelligence company. The company has a market cap of 233.79M as of 2022 and a Return on Equity of -48.09%. The company’s artificial intelligence platform enables users to process and analyze audio and video data in a variety of ways. The company’s media solutions include a media management system, a content management system, and a digital media hub. The company also offers a variety of other products and services, including a customer relationship management system, a data analysis platform, and a mobile app development platform.
– Data443 Risk Mitigation Inc ($OTCPK:ATDS)
Risk Mitigation Inc is a company that provides risk management solutions to businesses. Its market cap as of 2022 is 1.75M and its ROE is 35.79%. The company has a strong focus on risk management and provides a variety of solutions to businesses to help them mitigate risk.
– Backblaze Inc ($NASDAQ:BLZE)
Backblaze Inc is a cloud backup and storage company headquartered in San Mateo, California. The company offers two products: B2 Cloud Storage, an object storage service, and Backblaze, a cloud backup service. Backblaze was founded in 2007 by Gleb Budman and Andrew Klein and launched its first product, an online backup service, in 2008. The company has since added B2 Cloud Storage, launched in 2015, and expanded its backup service to include business users in 2016.
Summary
Samsara Inc‘s financial results for Q2 2024 indicate strong year-over-year growth in total revenue of 42.8%, reaching USD 219.3 million. Net income improved from the previous year’s loss of -64.3 million to -60.0 million, a sign of increasing operational efficiency. Investors should watch closely for further gains in profitability and revenue growth as the company continues to expand operations. Samsara Inc’ stock is currently trading at an attractive valuation, making it a good investment opportunity for long-term investors looking for exposure to the technology sector.
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