Samsara Reports Record Fourth Quarter and Full Fiscal Year 2022 Financial Results

  • Q4 revenue of $125.8 million, representing 66% year-over-year growth
  • Ending ARR of $558.1 million, representing 64% year-over-year growth
  • 806 customers with ARR over $100,000, up 78% year-over-year

SAN FRANCISCO--()--Samsara Inc. (NYSE: IOT), the pioneer of the Connected Operations Cloud, reported record financial results for the fourth quarter and fiscal year ended January 29, 2022, and released a shareholder letter accessible from the Samsara investor relations website at investors.samsara.com.

We achieved significant milestones in the fourth quarter, including becoming a publicly listed company. We ended the year with over half a billion in ARR, while growing 64% year-over-year, which capped off a very successful year for the company,” said Sanjit Biswas, co-founder and CEO of Samsara. “To match our customer demand, we grew headcount nearly 30% in fiscal 2022 and ended the year with over 1,600 Samsarians globally. As the world of physical operations continues to digitize, Samsara is well-positioned to capitalize on this tremendous market opportunity.”

Fourth Quarter Fiscal 2022 Financial Highlights

(In millions, except percentage, percentage points, and per share data)

 

Q4 2022

 

Q4 2021

 

Y/Y Change

Annual Recurring Revenue (ARR)

$

558.1

 

 

$

341.2

 

 

 

64

%

Total revenue

$

125.8

 

 

$

75.9

 

 

 

66

%

GAAP gross profit

$

87.0

 

 

$

54.7

 

 

$

32.3

 

GAAP gross margin

 

69

%

 

 

72

%

 

 

(3

pts)

Non-GAAP gross profit

$

93.4

 

 

$

54.7

 

 

$

38.7

 

Non-GAAP gross margin

 

74

%

 

 

72

%

 

 

2 pts

 

GAAP operating loss

$

(251.7

)

 

$

(35.3

)

 

$

(216.4

)

GAAP operating margin

 

(200

%)

 

 

(47

%)

 

(153

pts)

Non-GAAP operating loss

$

(17.5

)

 

$

(31.5

)

 

$

14.0

 

Non-GAAP operating margin

 

(14

%)

 

 

(41

%)

 

 

27

pts

GAAP net loss per share

$

(0.68

)

 

$

(0.15

)

 

$

(0.53

)

Non-GAAP net loss per share

$

(0.05

)

 

$

(0.13

)

 

$

0.08

 

Net cash used in operating activities

$

(48.3

)

 

$

(33.5

)

 

$

(14.8

)

Adjusted free cash flow

$

(50.2

)

 

$

(35.7

)

 

$

(14.5

)

Adjusted free cash flow margin

 

(40

%)

 

 

(47

%)

 

 

7

pts

Fiscal 2022 Financial Highlights

(In millions, except percentage, percentage points, and per share data)

 

FY 2022

 

FY 2021

 

Y/Y Change

Annual Recurring Revenue (ARR)

$

558.1

 

 

$

341.2

 

 

 

64

%

Total revenue

$

428.3

 

 

$

249.9

 

 

 

71

%

GAAP gross profit

$

303.9

 

 

$

174.5

 

 

$

129.4

 

GAAP gross margin

 

71

%

 

 

70

%

 

 

1

pt

Non-GAAP gross profit

$

310.2

 

 

$

174.5

 

 

$

135.7

 

Non-GAAP gross margin

 

72

%

 

 

70

%

 

 

2

pts

GAAP operating loss

$

(353.8

)

 

$

(209.5

)

 

$

(144.3

)

GAAP operating margin

 

(83

%)

 

 

(84

%)

 

 

1

pt

Non-GAAP operating loss

$

(114.1

)

 

$

(177.1

)

 

$

63.0

 

Non-GAAP operating margin

 

(27

%)

 

 

(71

%)

 

 

44

pts

GAAP net loss per share

$

(1.28

)

 

$

(0.92

)

 

$

(0.36

)

Non-GAAP net loss per share

$

(0.42

)

 

$

(0.78

)

 

$

0.36

 

Net cash used in operating activities

$

(171.5

)

 

$

(171.8

)

 

$

0.3

 

Adjusted free cash flow

$

(179.7

)

 

$

(189.6

)

 

$

9.9

 

Adjusted free cash flow margin

 

(42

%)

 

 

(76

%)

 

 

34

pts

GAAP financials include the one-time impact of $191.5 million of stock-based compensation expense in connection with Samsara’s initial public offering in Q4.

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section titled “Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures and the tables in the section titled “Reconciliation Between GAAP and Non-GAAP Financial Measures” for a reconciliation of GAAP to non-GAAP financial measures.

Financial Outlook

Our guidance includes GAAP and non-GAAP financial measures. For the first quarter and fiscal year 2023, Samsara expects the following:

 

Q1 2023 Outlook

 

FY 2023 Outlook

Total revenue

$130 million - $132 million

 

$568 million - $578 million

Non-GAAP operating margin

(25%)

 

(22%)

Non-GAAP net loss per share

($0.07) - ($0.08)

 

($0.25) - ($0.27)

A reconciliation of non-GAAP guidance financial measures to corresponding GAAP guidance financial measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty and potential variability of expenses, such as stock-based compensation expense-related charges, that may be incurred in the future and cannot be reasonably determined or predicted at this time. It is important to note that these factors could be material to our results of operations computed in accordance with GAAP.

About Samsara

Samsara is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness IoT (Internet of Things) data to develop actionable business insights and improve their operations. Samsara operates in North America and Europe and serves tens of thousands of customers across a wide range of industries including transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, and food and beverage. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, the calculation of certain of our key financial and operating metrics, our market opportunity, industry developments and trends, and our competitive position, as well as assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and could cause actual results and events to differ. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or the negative of these terms or other comparable expressions that concern our expectations, strategy, plans or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

These risks and uncertainties include our ability to retain customers and expand the Applications used by our customers, our ability to attract new customers, our future financial performance, including trends in revenue and annual recurring revenue, net retention rate, costs of revenue, gross profit or gross margin, operating expenses, customer counts, non-GAAP financial measures (such as non-GAAP gross margin, non-GAAP operating margin, and adjusted free cash flow margin), our ability to achieve or maintain profitability, the demand for our products or for solutions for connected operations in general, the ongoing COVID-19 pandemic, possible harm caused by silicon component shortages, possible harm caused by a security breach or other incident affecting our or our customers’ assets or data, our ability to compete successfully in competitive markets, our ability to respond to rapid technological changes, and our ability to continue to innovate and develop new Applications. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our Prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b)(4). Additional information will also be set forth in our Annual Report on Form 10-K for the fiscal year ended January 29, 2022.

Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Use of Non-GAAP Financial Measures

This document includes certain non-GAAP financial measures. Reconciliations of non-GAAP financial measures to our financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data.

Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under GAAP. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in our industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. In addition, adjusted free cash flow does not reflect our future contractual commitments or the total increase or decrease of our cash balance for a given period. All of these limitations could reduce the usefulness of these non-GAAP financial measures as analytical tools. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and to not rely on any single financial measure to evaluate our business.

We present these non-GAAP financial measures to assist investors in seeing Samsara’s operating results through the eyes of management, and because we believe that these measures provide an additional tool for investors to evaluate our business.

Expenses Excluded from Non-GAAP Measures—Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer taxes on employee equity transactions, which is a cash expense, is excluded because such taxes are tied to the timing and size of the vesting of the underlying equity awards and the price of our common stock at the time of vesting, which may vary from period to period independent of the operating performance of our business. Lease modification, impairment, and related charges, as well as restructuring and related charges, are excluded because such charges are not reflective of our ongoing operational performance.

Operating Metrics and Non-GAAP Financial Measures

Annual Recurring Revenue—We define ARR as the annualized value of subscription contracts that have commenced revenue recognition as of the measurement date.

Non-GAAP Gross Profit and Non-GAAP Gross Margin—We define non-GAAP gross profit as gross profit plus stock-based compensation expense-related charges, including employer taxes on employee equity transactions, included in cost of revenue. Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of total revenue. We use non-GAAP gross profit and non-GAAP gross margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP gross profit and non-GAAP gross margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Loss from Operations and Non-GAAP Operating Margin—We define non-GAAP loss from operations, or non-GAAP operating loss, as loss from operations plus stock-based compensation expense-related charges, including employer taxes on employee equity transactions, lease modification, impairment, and related charges, and restructuring and related charges. Non-GAAP operating margin is defined as non-GAAP operating loss as a percentage of total revenue. We use non-GAAP loss from operations and non-GAAP operating margin in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP loss from operations and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Non-GAAP Net Loss and Non-GAAP Net Loss per Share—We define non-GAAP net loss and non-GAAP net loss per share as net loss and net loss per share excluding stock-based compensation expense-related charges, including employer taxes on employee equity transactions, lease modification, impairment, and related charges, and restructuring and related charges. Non-GAAP net loss per share also adds back expense relating to the deemed dividend on Series F convertible preferred stock. We use non-GAAP net loss and non-GAAP net loss per share in conjunction with traditional GAAP measures to evaluate our financial performance. We believe that non-GAAP net loss and non-GAAP net loss per share provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations.

Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin—We define adjusted free cash flow as net cash used in operating activities less cash used for purchases of property and equipment, plus non-recurring capital expenditures associated with the build-out of our corporate office facilities in San Francisco, net of tenant allowances. Adjusted free cash flow margin is calculated as adjusted free cash flow as a percentage of total revenue. We believe that adjusted free cash flow and adjusted free cash flow margin, even if negative, are useful in evaluating liquidity and provide information to management and investors about our ability to fund future operating needs and strategic initiatives.

Webcast Information and Shareholder Letter

An investor presentation and accompanying shareholder letter is accessible from the Samsara investor relations website at https://investors.samsara.com/. Samsara will host a live webcast to discuss the results at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) today. The live webcast may be accessed at https://investors.samsara.com/. Following the webcast, a replay will be accessible from the same website.

SAMSARA INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

 

 

 

 

 

As of

 

January 29, 2022

 

January 30, 2021

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

921,218

 

 

$

399,887

 

Accounts receivable, net

 

81,987

 

 

 

42,248

 

Inventories

 

33,067

 

 

 

13,674

 

Connected device costs, current

 

52,519

 

 

 

26,059

 

Other current assets

 

11,376

 

 

 

9,321

 

Total current assets

 

1,100,167

 

 

 

491,189

 

Restricted cash

 

23,092

 

 

 

34,422

 

Property and equipment, net

 

36,772

 

 

 

57,655

 

Operating lease right-of-use assets

 

134,427

 

 

 

133,121

 

Connected device costs, non-current

 

141,292

 

 

 

81,459

 

Deferred commissions

 

117,757

 

 

 

86,937

 

Other assets, non-current

 

14,422

 

 

 

1,850

 

Total assets

$

1,567,929

 

 

$

886,633

 

Liabilities, convertible preferred stock, and stockholders’ equity (deficit)

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

54,705

 

 

$

19,400

 

Accrued expenses and other current liabilities

 

31,835

 

 

 

14,571

 

Accrued compensation and benefits

 

27,107

 

 

 

12,549

 

Deferred revenue, current

 

203,185

 

 

 

143,109

 

Operating lease liabilities, current

 

21,447

 

 

 

22,313

 

Total current liabilities

 

338,279

 

 

 

211,942

 

Deferred revenue, non-current

 

110,501

 

 

 

106,463

 

Operating lease liabilities, non-current

 

123,513

 

 

 

150,961

 

Other liabilities, non-current

 

6,689

 

 

 

1,003

 

Total liabilities

 

578,982

 

 

 

470,369

 

Commitments and contingencies

 

 

 

Convertible preferred stock

 

 

 

 

949,067

 

Stockholders’ equity (deficit):

 

 

 

Preferred stock

 

 

 

 

 

Class A common stock

 

6

 

 

 

 

Class B common stock

 

23

 

 

 

1

 

Class C common stock

 

 

 

 

 

Additional paid-in capital

 

1,909,964

 

 

 

33,122

 

Accumulated other comprehensive loss

 

(96

)

 

 

 

Accumulated deficit

 

(920,950

)

 

 

(565,926

)

Total stockholders’ equity (deficit)

 

988,947

 

 

 

(532,803

)

Total liabilities, convertible preferred stock, and stockholders’ equity (deficit)

$

1,567,929

 

 

$

886,633

 

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

Revenue

$

125,752

 

 

$

75,934

 

 

$

428,345

 

 

$

249,905

 

Cost of revenue

 

38,706

 

 

 

21,206

 

 

 

124,484

 

 

 

75,393

 

Gross profit

 

87,046

 

 

 

54,728

 

 

 

303,861

 

 

 

174,512

 

Operating expenses

 

 

 

 

 

 

 

Research and development (1)

 

126,457

 

 

 

20,180

 

 

 

205,125

 

 

 

99,738

 

Sales and marketing (1)

 

124,640

 

 

 

45,913

 

 

 

291,209

 

 

 

202,262

 

General and administrative (1)

 

87,686

 

 

 

23,925

 

 

 

159,843

 

 

 

75,223

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

1,532

 

 

 

 

Restructuring and related charges

 

 

 

 

 

 

 

 

 

 

6,768

 

Total operating expenses

 

338,783

 

 

 

90,018

 

 

 

657,709

 

 

 

383,991

 

Loss from operations

 

(251,737

)

 

 

(35,290

)

 

 

(353,848

)

 

 

(209,479

)

Interest income and other income (expense), net

 

(243

)

 

 

(870

)

 

 

(2

)

 

 

(642

)

Loss before provision for income taxes

 

(251,980

)

 

 

(36,160

)

 

 

(353,850

)

 

 

(210,121

)

Provision for income taxes

 

787

 

 

 

21

 

 

 

1,174

 

 

 

87

 

Net loss

$

(252,767

)

 

$

(36,181

)

 

$

(355,024

)

 

$

(210,208

)

Other comprehensive loss, net of taxes:

 

 

 

 

 

 

 

Change in foreign currency translation adjustment

 

(142

)

 

 

 

 

 

(96

)

 

 

 

Comprehensive loss

$

(252,909

)

 

$

(36,181

)

 

$

(355,120

)

 

$

(210,208

)

Basic and diluted net loss per share:

 

 

 

 

 

 

 

Net loss per share attributable to our common stockholders, basic and diluted

$

(0.68

)

 

$

(0.15

)

 

$

(1.28

)

 

$

(0.92

)

Weighted-average shares used in computing net loss per share attributable to our common stockholders, basic and diluted

 

371,784,585

 

 

 

242,699,187

 

 

 

277,543,471

 

 

 

239,281,696

 

__________

(1) Excludes accelerated depreciation expense in connection with the lease modification in the fiscal year ended January 29, 2022.

SAMSARA INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

Operating activities

 

 

 

 

 

 

 

Net loss

$

(252,767

)

 

$

(36,181

)

 

$

(355,024

)

 

$

(210,208

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

2,171

 

 

 

2,403

 

 

 

10,388

 

 

 

10,738

 

Stock-based compensation expense

 

224,735

 

 

 

3,808

 

 

 

228,723

 

 

 

25,564

 

Bad debt expense

 

795

 

 

 

3,361

 

 

 

7,422

 

 

 

9,447

 

Non-cash operating lease costs

 

375

 

 

 

(1,125

)

 

 

(824

)

 

 

6,374

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

1,532

 

 

 

 

Other non-cash charges

 

32

 

 

 

300

 

 

 

32

 

 

 

965

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Accounts receivable, net

 

(23,364

)

 

 

(5,675

)

 

 

(47,049

)

 

 

(14,140

)

Inventories

 

(10,758

)

 

 

1,763

 

 

 

(19,393

)

 

 

2,843

 

Other current assets

 

393

 

 

 

(1,664

)

 

 

(1,426

)

 

 

1,624

 

Connected device costs

 

(23,860

)

 

 

(17,349

)

 

 

(86,293

)

 

 

(44,184

)

Deferred commissions

 

(16,051

)

 

 

(8,582

)

 

 

(30,821

)

 

 

(21,327

)

Other assets, non-current

 

(11,388

)

 

 

(216

)

 

 

(12,327

)

 

 

110

 

Accounts payable and other liabilities

 

34,458

 

 

 

8,906

 

 

 

69,926

 

 

 

16,250

 

Deferred revenue

 

27,176

 

 

 

15,971

 

 

 

64,001

 

 

 

35,160

 

Operating lease liabilities, net

 

(252

)

 

 

756

 

 

 

(348

)

 

 

9,015

 

Net cash used in operating activities

 

(48,305

)

 

 

(33,524

)

 

 

(171,481

)

 

 

(171,769

)

Investing activities

 

 

 

 

 

 

 

Purchase of property and equipment

 

(9,400

)

 

 

(2,746

)

 

 

(19,353

)

 

 

(32,102

)

Investing other

 

(100

)

 

 

(100

)

 

 

(682

)

 

 

(100

)

Net cash used in investing activities

 

(9,500

)

 

 

(2,846

)

 

 

(20,035

)

 

 

(32,202

)

Financing activities

 

 

 

 

 

 

 

Proceeds from initial public offering, net of underwriting discounts and commissions

 

846,682

 

 

 

 

 

 

846,682

 

 

 

 

Payment of taxes related to net share settlement of equity awards

 

(141,747

)

 

 

 

 

 

(141,747

)

 

 

 

Proceeds from issuance of common stock in connection with equity compensation plans

 

245

 

 

 

1,077

 

 

 

1,210

 

 

 

1,624

 

Proceeds from early exercise of stock options

 

2

 

 

 

738

 

 

 

154

 

 

 

753

 

Repurchase of restricted common stock

 

 

 

 

(50

)

 

 

(5

)

 

 

(61

)

Proceeds from issuance of Series F convertible preferred stock, net of issuance costs

 

 

 

 

 

 

 

 

 

 

399,826

 

Payment of deferred offering costs

 

(1,945

)

 

 

 

 

 

(4,105

)

 

 

 

Payment of principal on finance leases

 

(209

)

 

 

(168

)

 

 

(545

)

 

 

(168

)

Net cash provided by financing activities

 

703,028

 

 

 

1,597

 

 

 

701,644

 

 

 

401,974

 

Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash

 

(173

)

 

 

 

 

 

(127

)

 

 

 

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

645,050

 

 

 

(34,773

)

 

 

510,001

 

 

 

198,003

 

Cash, cash equivalents, and restricted cash, beginning of period

 

299,260

 

 

 

469,082

 

 

 

434,309

 

 

 

236,306

 

Cash, cash equivalents, and restricted cash, end of period

$

944,310

 

 

$

434,309

 

 

$

944,310

 

 

$

434,309

 

SAMSARA INC.

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages and per share data)

(Unaudited)

 

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

Gross profit and gross margin reconciliation

 

 

 

 

 

 

 

GAAP gross profit

$

87,046

 

 

$

54,728

 

 

$

303,861

 

 

$

174,512

 

Add:

 

 

 

 

 

 

 

Stock-based compensation expense-related charges (1)

 

6,334

 

 

 

1

 

 

 

6,344

 

 

 

13

 

Non-GAAP gross profit

$

93,380

 

 

$

54,729

 

 

$

310,205

 

 

$

174,525

 

GAAP gross margin

 

69

%

 

 

72

%

 

 

71

%

 

 

70

%

Non-GAAP gross margin

 

74

%

 

 

72

%

 

 

72

%

 

 

70

%

 

 

 

 

 

 

 

 

Operating loss and operating margin reconciliation

 

 

 

 

 

 

 

GAAP loss from operations

$

(251,737

)

 

$

(35,290

)

 

$

(353,848

)

 

$

(209,479

)

Add:

 

 

 

 

 

 

 

Stock-based compensation expense-related charges (1)

 

234,250

 

 

 

3,808

 

 

 

238,238

 

 

 

25,564

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

1,532

 

 

 

 

Restructuring and related charges

 

 

 

 

 

 

 

 

 

 

6,768

 

Non-GAAP loss from operations

$

(17,487

)

 

$

(31,482

)

 

$

(114,078

)

 

$

(177,147

)

GAAP operating margin

 

(200

)%

 

 

(47

)%

 

 

(83

)%

 

 

(84

)%

Non-GAAP operating margin

 

(14

)%

 

 

(41

)%

 

 

(27

)%

 

 

(71

)%

__________

(1) Stock-based compensation expense-related charges was included in the following line items of our condensed consolidated statements of operations as follows:

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

Cost of revenue

$

6,334

 

 

$

1

 

 

$

6,344

 

 

$

13

 

Research and development

 

102,299

 

 

 

181

 

 

 

102,849

 

 

 

13,783

 

Sales and marketing

 

62,167

 

 

 

253

 

 

 

62,548

 

 

 

6,947

 

General and administrative

 

63,450

 

 

 

3,373

 

 

 

66,497

 

 

 

4,821

 

Total stock-based compensation expense-related charges (2)

$

234,250

 

 

$

3,808

 

 

$

238,238

 

 

$

25,564

 

__________

(2) Stock-based compensation expense-related charges included approximately $9.5 million of employer taxes on employee equity transactions for the three months and fiscal year ended January 29, 2022.

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

GAAP net loss

$

(252,767

)

 

$

(36,181

)

 

$

(355,024

)

 

$

(210,208

)

Add:

 

 

 

 

 

 

 

Stock-based compensation expense-related charges

 

234,250

 

 

 

3,808

 

 

 

238,238

 

 

 

25,564

 

Lease modification, impairment, and related charges

 

 

 

 

 

 

 

1,532

 

 

 

 

Restructuring and related charges

 

 

 

 

 

 

 

 

 

 

6,768

 

Non-GAAP net loss

$

(18,517

)

 

$

(32,373

)

 

$

(115,254

)

 

$

(177,876

)

SAMSARA INC.

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

(In thousands, except percentages and per share data)

(Unaudited)

 

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

GAAP net loss per share attributable to our common stockholders, basic and diluted

$

(0.68

)

 

$

(0.15

)

 

$

(1.28

)

 

$

(0.92

)

Total impact on net loss per share, basic and diluted, from non-GAAP adjustments

 

0.63

 

 

 

0.02

 

 

 

0.86

 

 

 

0.14

 

Non-GAAP net loss per share attributable to our common stockholders, basic and diluted

$

(0.05

)

 

$

(0.13

)

 

$

(0.42

)

 

$

(0.78

)

 

 

Three Months Ended

 

Fiscal Year Ended

 

January 29, 2022

 

January 30, 2021

 

January 29, 2022

 

January 30, 2021

Net cash used in operating activities

$

(48,305

)

 

$

(33,524

)

 

$

(171,481

)

 

$

(171,769

)

Add:

 

 

 

 

 

 

 

Purchase of property and equipment

 

(9,400

)

 

 

(2,746

)

 

 

(19,353

)

 

 

(32,102

)

Less:

 

 

 

 

 

 

 

Purchase of property and equipment for build-out of corporate office facilities

 

7,490

 

 

 

541

 

 

 

11,096

 

 

 

14,319

 

Adjusted free cash flow

$

(50,215

)

 

$

(35,729

)

 

$

(179,738

)

 

$

(189,552

)

Adjusted free cash flow margin

 

(40

) %

 

 

(47

) %

 

 

(42

) %

 

 

(76

) %

Source: Samsara-IR

Contacts

Investor Contact:
Mike Chang
ir@samsara.com

Media Contact:
Adam Simons
media@samsara.com

Contacts

Investor Contact:
Mike Chang
ir@samsara.com

Media Contact:
Adam Simons
media@samsara.com