Also Samsara Reports Third Quarter Fiscal 2023 Financial Results:

the maker of devices for the Internet of Things cut its net loss to 11 cents a share from 13 cents a share in the third fiscal quarter ended Oct. 29, while experts had expected 12 cents. Revenue also beat the consensus forecast.

  • Q3 revenue of $169.8 million, representing 49% year-over-year growth
  • Ending ARR of $723.7 million, representing 47% year-over-year growth
  • 1,113 customers with ARR over $100,000, up 56% year-over-year

“We achieved another quarter of solid and efficient growth at scale, including a final ARR of $724 million, up 47% from last year,” said Sanjit Biswas, co-founder and CEO of Samsara. “We work with clients that impact the global economy and span a number of different industries. In the face of macroeconomic uncertainty, our clients remain focused on profitability. They focus on asset efficiency, employee availability and maintaining safe and compliant operations. We are proud to bring value to our customers in all of these areas by digitizing their physical operations with the Samsara Connected Operations Cloud.”The company plans to continue using SaaS marketing techniques to attract customers.

Carter Hill