Samsara Stock Earnings Reports

Samsara reported a strong Q2 FY2026 with durable, efficient growth and improving margins. ARR reached $1.64 billion (+30% YoY) and revenue was $391 million (+30% YoY; +31% in constant currency). Net new ARR was $105 million (+19% YoY). Large customers continued to scale: customers with >$100k ARR now represent ~59% of ARR (~$1 billion, +35% YoY), and the company added a quarterly record 17 customers with >$1M ARR (that cohort now >20% of ARR). Product momentum accelerated — roughly 8% of net new ACV came from products launched in the last year (asset tags, connected workflows, connected training, asset maintenance, AI multicam, commercial navigation). Samsara emphasized its proprietary data advantage (now processing ~20 trillion data points annually) and AI-enabled innovation, driving new products and customer ROI. Operating leverage continued: non-GAAP gross margin 78%, non-GAAP operating margin 15% (up 9 pts YoY), free cash flow margin 11%. Q3 revenue guidance $398–$400M (≈24% YoY growth); FY26 revenue $1.574–$1.578B (≈26% YoY); non-GAAP operating margin 15% and FY non-GAAP EPS $0.45–$0.47. Management noted that some large deals slipped from Q1 to Q2 due to tariff-related timing but closed in Q2 and there was no further tariff impact in the quarter. International and vertical expansion (construction, public sector, manufacturing) showed traction. Key investor takeaways: durable enterprise land-and-expand momentum, accelerating contribution from new AI-enabled products, improving margins and cash generation, and a clear focus on scaling large, complex customers while continuing product and GTM investment. Risks/notes: larger deals introduce timing variability; tariffs remain an external uncertainty though customers have adapted.