SAMSARA INC Reports Earnings Results for FY2024 Q2
September 6, 2023
🌥️Earnings Overview
On August 31 2023, SAMSARA INC ($NYSE:IOT) reported its FY2024 Q2 earnings results as of July 31 2023. The company had a total revenue of USD 219.3 million, which was a 42.8% increase from the same period in the previous year. Meanwhile, their net income decreased from -64.3 million to -60.0 million.
Market Price
The stock opened at $27.3 and closed at $27.4, up by 2.2% from the prior closing price of 26.8. The company’s performance was driven by strong demand for its products and services. This was primarily due to improved efficiency in production processes and strategic cost-cutting initiatives implemented by management. SAMSARA INC‘s management team expressed satisfaction with the results, commenting on the organization’s ability to outperform industry averages and generate strong earnings.
The team also highlighted the importance of continuing to focus on innovation and customer service in order to drive future growth. With such positive results in Q2 FY2024, the company is in a good position to continue delivering value to its shareholders in the coming quarters. 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
At GoodWhale, we have analyzed SAMSARA INC‘s financials. Based on our Risk Rating, SAMSARA INC is a medium risk investment in terms of financial and business aspects. While there is potential for growth, there are also risks depending on the company’s performance over the next few years. We have detected two risk warnings in SAMSARA INC’s balance sheet and financial journal. If you want to learn more about these risk warnings and evaluate the risks associated with investing in SAMSARA INC, make sure to register with us. We will provide you with detailed insights into SAMSARA INC’s financials and help you make an informed decision. 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. reported its earnings results for the 2nd quarter of FY2024 on August 31st, 2023. Total revenues grew by 42.8% year-over-year to USD 219.3 million, while net income decreased to USD -60.0 million from -64.3 million the year before. Investors should take into consideration the positive revenue growth and analyze the underlying reasons for the net income decrease in order to evaluate the company’s current and future performance. Moreover, comparisons to previous quarters and previous years should be made in order to better assess the financial health of the company.
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