Close Menu
Logistics

Samsara raises steering amid information heart increase

No Comments3 Mins Read
Samsara raises steering amid information heart increase

Samsara is seeing stronger demand as major infrastructure projects ramp up across the U.S., including new data centers, energy grid upgrades and government-funded construction projects.

The increased activity is helping drive new business for the fleet telematics and safety technology company, which raised its full-year revenue and earnings outlook following another strong quarter.

San Francisco-based Samsara (NYSE: IOT) reported $479 million in revenue for its fiscal 2027 first quarter, which ended May 2. Revenue increased 31% compared with the same period last year.

The company also added $101 million in annual recurring revenue during the quarter, bringing its total annualized run rate to nearly $2 billion.

Samsara landed 11 new contracts worth more than $1 million during the quarter, marking its second-best quarter ever for large customer deals.

The company now has 3,363 customers spending at least $100,000 per year on its platform, including 190 customers spending more than $1 million annually.

Samsara CEO and co-founder Sanjit Biswas said many of the industries the company serves are dealing with growing demand while also facing limitations when it comes to available workers.

According to Biswas, Samsara sees an opportunity to use artificial intelligence and automation to help those companies increase productivity and expand their operating capacity.

Following the strong quarter, Samsara increased its full-year revenue forecast to between $2.005 billion and $2.013 billion. That would represent approximately 24% year-over-year growth.

The company had previously projected revenue growth of between 21% and 22%.

Samsara also reported adjusted earnings of 17 cents per share during the first quarter, up 6 cents from a year earlier.

The company remained profitable on a GAAP basis for the third consecutive quarter.

Samsara also raised its full-year adjusted earnings forecast to between 70 cents and 72 cents per share, approximately 6% higher than its previous guidance.

Much of the company’s recent growth is being driven by customers involved in large-scale infrastructure projects.

Those businesses are expanding fleets, equipment and job sites as they work on power grids, road systems, distribution networks, data centers and other major projects.

Samsara Chief Revenue Officer Amit Vyas said those expanding operations are becoming increasingly difficult to manage as companies attempt to keep vehicles, equipment and workers safe, efficient and connected.

As customers add more vehicles, assets and job sites to Samsara’s platform, the company collects additional operational data that can be used to improve performance across their businesses.

That expansion is also helping Samsara deepen relationships with some of its largest customers.

Samsara’s Connected Operations Platform combines cameras, sensors and telematics equipment to monitor fleets, equipment and other physical operations.

The platform currently processes more than 25 trillion data points each year.

Share.

Related Posts