Samsara Inc. (NYSE:IOT) shares are trading lower after the company reported first-quarter FY25 results.
Revenue rose 37% Y/Y to $280.7 million, beating the consensus of $266.84 million. Annual Recurring Revenue (ARR) surged 37% Y/Y to $1.18 billion.
Adjusted gross profit rose to $215.9 million from $149.7 million a year ago, with a margin of 77% versus 73% prior year.
Adjusted operating income stood at $6.2 million versus a loss of $19.0 million last year. Adjusted EPS of $0.03 exceeded the estimate of $(0.01).
Operating cash flow stood at $23.7 million, and adjusted free cash flow came in at $18.6 million.
Outlook: IOT sees second-quarter adjusted EPS of $0.00-$0.01 (versus $0.01 estimate) and revenue of $288 million-$290 million versus the estimate of $287.25 million.
The company revises FY25 adjusted EPS outlook to $0.13-$0.15 (from $0.11-$0.13, vs. consensus of $0.12) and revenue to $1.205 billion-$1.213 billion (from $1.186 billion-$1.196 billion, versus an estimate of $1.20 billion).
Investors can gain exposure to the stock via First Trust US Equity Opportunities ETF (NYSE:FPX) and TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).
Price Action: IOT shares are down 12.7% at $30.43 premarket at the last check Friday.
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