Samsara Inc. (IOT)

Samsara operates the Connected Operations Cloud, a cloud-based system of record that harnesses Internet of Things (IoT) data, artificial intelligence, video imagery, and cloud computing to help businesses with physical operations improve safety, efficiency, and sustainability. Founded in 2015, the company serves customers across transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, food and beverage, and other industries that collectively represent over 40% of global GDP but have historically lagged in digital adoption. Its solution combines a Data Platform—which ingests, aggregates, and enriches data from Samsara's own ruggedized, self-installed IoT devices, OEM-embedded sensors, and third-party systems—with a suite of Applications, including Video-Based Safety, Vehicle Telematics, Apps and Driver Workflows, Equipment Monitoring, and Site Visibility.

These offerings provide customers with real-time visibility into fleets, equipment, job sites, and mobile workforces, enabling use cases such as driver safety coaching, fuel and route optimization, preventative maintenance, regulatory compliance (including ELD, HOS, and OSHA requirements), and emissions reduction. Samsara sells subscriptions priced on a per-asset, per-application basis, generating approximately 98% of revenue from subscriptions, and serves a customer base ranging from small and medium-sized businesses to state and local governments and large global enterprises; as of January 28, 2023, it had over 19,000 Core Customers (representing more than $5,000 in annual recurring revenue) and 1,237 customers representing over $100,000 in ARR. The company reported fiscal year 2023 revenue of $652.5 million, up 52% year-over-year, with a net loss of $247.4 million, and its Data Platform collected approximately six trillion data points during the year, powering machine learning models that benefit from network effects as more customers and diverse data are added.

Samsara also maintains a partner ecosystem with over 220 third-party integrations in its App Marketplace, an Experts Marketplace of certified implementation partners, and OEM partnerships that embed connectivity directly into physical assets, while pursuing growth through new customer acquisition, expansion within its existing customer base (with over 70% of Core Customers and over 90% of customers above $100,000 in ARR already using multiple applications), and continuous product innovation.