Samsara Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
There is little to fault in the substance: $1,281.4 million of cash and investments as of May 2, 2026, no financial debt, a 57.7 percent equity ratio, positive operating cash flow since fiscal year 2025 and a backlog of $3,988.5 million. The business model works too — subscription revenue, a 76.7 percent gross margin in fiscal year 2026, no customer above 2 percent of recurring revenue. But one material operating question is open, and it is the central one: after $1,574.6 million of accumulated losses since inception, the business itself throws off a 1.5 percent margin while 19.5 percent of revenue goes to employees in stock. The first visible profit came mostly from an arbitration award and from interest, not from selling software. That is not a substance risk — a debt-free company growing 30 percent does not get into trouble over it. But it is not proof either. Hence yellow: documented growth, unproven earning power. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Samsara is a growth company that owes its debts not to a bank but to its own workforce. The business works: $1,990.6 million of annual recurring revenue as of May 2, 2026, 30 percent growth, 3,363 large customers, no concentration risk, $1,281.4 million in the bank and no financial debt. Against that stands an income statement whose black ink is two thirds a lawsuit and another quarter interest, while stock-based compensation at 19.5 percent of revenue exceeds any operating margin this company has ever posted. Buying here is a bet that the margin of the business will one day outgrow the price paid to employees in shares. Not investment advice.
Business and growth
Revenue climbed from $937.4 million in fiscal year 2024 through $1,249.2 million (2025) to $1,618.6 million (2026), then added another 30.5 percent in the first quarter of fiscal year 2027 to reach $478.8 million. Annual recurring revenue hit $1,990.6 million on May 2, 2026, up 30 percent, and the count of customers above $100,000 in ARR rose to 3,363 from 2,638. Subscriptions make up 98.4 percent of quarterly revenue.
Balance sheet and funding
As of May 2, 2026, the balance sheet held $1,281.4 million in cash and investments against no financial debt — only $69.0 million of lease liabilities and $15.8 million of letters of credit. The equity ratio stood at 57.7 percent, there is no goodwill, and operating cash flow was clearly positive at $81.4 million for the quarter and $236.2 million for fiscal year 2026.
Customer base
No single customer accounted for more than 2 percent of annual recurring revenue as of January 31, 2026, and in the first quarter of fiscal year 2027 no customer exceeded 10 percent of revenue or of receivables. More than 12,000 customers pay at least $25,000 a year. For a vendor whose business could easily hang on a handful of large fleet operators, that is a remarkably broad footing.
Earnings quality
Of $44.5 million in net income for the first quarter of fiscal year 2027, $30.3 million came from an arbitration award against Motive Technologies and $11.9 million from interest. Operations contributed $7.2 million — 1.5 percent of revenue. Fiscal year 2026 was starker still: a $52.6 million operating loss that $53.5 million of interest and other income almost, but not quite, offset.
Stock-based compensation
Fiscal year 2026 carried $315.0 million of stock-based compensation, 19.5 percent of revenue; the first quarter of fiscal year 2027 carried $77.5 million against $7.2 million of operating income. Another $672.5 million of awards is outstanding and will be expensed over roughly 1.6 years. Reserved for the plans as of May 2, 2026: 191,542,088 shares, close to a third of the share count.
Valuation
At a market capitalization of about $16.8 billion (data as of July 24, 2026), the market pays roughly 9.7 times trailing twelve-month revenue of $1,730.6 million and about 48 times the current-year earnings estimate. The company's own June 4, 2026, guidance points to a slowdown at the same time: 23 to 24 percent growth in the second quarter after 31 percent in the first. And 13.3 percent of the float is sold short.
Worth Noting
Samsara reached our research list through our in-house stock scanner: the stock sits on the U.S. side of the “Fundamental Rank (A / A+)” list, which sorts companies by the quality of their numbers (as of July 26, 2026; the page currently shows 38 U.S. hits). On the same date IOT appeared on eight lists at once, among them “High Revenue Growth”, “Pros 80%” and “Big Earnings Surprise”. The lists are recomputed daily.
Currency of the data: this analysis works from the annual report 10-K for fiscal year 2026 (filed March 16, 2026), the quarterly report 10-Q as of May 2, 2026 (filed June 9, 2026) and every filing made since — in particular the 8-K of June 4, 2026, with results and guidance, the 8-K of July 23, 2026, with the results of the July 22, 2026, annual meeting, and the Form 4 insider filings and Form 144 sale notices through July 24, 2026. The next quarterly report is expected in early September 2026 per the July 24, 2026, data.
Valuation figures are dated and evergreen: the implied price of roughly $29 comes from a market capitalization of $16.8 billion (data as of July 24, 2026) divided by the 582,710,082 shares across both voting classes that the quarterly report reports as of June 2, 2026. Cross-checked against a filing price: the cover page of the annual report cites a closing price of $36.01 on August 1, 2025, which on the same share count would imply about $21.0 billion. The 20.4 percent price decline over the trailing 252 trading days (data as of July 24, 2026) accounts for the difference. Analyses are evergreen; daily prices are not a buy argument.
Easy to confuse: the ticker IOT belongs to Samsara and is not shorthand for “internet of things”. Only the Class A share trades on the New York Stock Exchange; the high-vote Class B shares are not listed.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at IOT since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 24.30 $ to 45.20 $ · Last price: 40.00 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Samsara Inc IOT | 23.2 | 418.5 | 495.2 | 76.4 | 1.5 | 29.6 | 2.9 |
| Microsoft Corporation MSFT | 3,632.6 | 30.8 | 17.6 | 67.9 | 46.3 | 14.9 | -1.6 |
| Oracle Corporation ORCL | 435.3 | 24.7 | 14.8 | 64.0 | 36.2 | 17.4 | -49.5 |
| Palantir Technologies Inc. PLTR | 432.5 | 199.0 | 147.5 | 84.8 | 46.2 | 56.2 | 4.7 |
| Palo Alto Networks Inc PANW | 305.7 | 302.6 | 194.0 | 70.4 | -2.5 | 14.9 | 84.7 |
| Crowdstrike Holdings Inc CRWD | 248.2 | – | 490.1 | 75.2 | -2.2 | 21.7 | 120.6 |
| Fortinet Inc FTNT | 124.2 | 61.8 | 39.6 | 80.2 | 31.3 | 14.2 | 115.0 |
| Cloudflare Inc NET | 115.1 | – | 2,805.8 | 72.6 | -9.7 | 29.9 | 56.1 |
| Synopsys Inc SNPS | 73.0 | 77.0 | 22.3 | 82.9 | 10.4 | 15.1 | -10.4 |
| Median of companies shown | 248.2 | 77.0 | 147.5 | 75.2 | 10.4 | 17.4 | 4.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2020 | 120 | -228 | -225 | -0.45 | -193 | -341 | 631 |
| 2021 | 250 | -203 | -210 | -0.42 | -172 | -533 | 887 |
| 2022 | 428 | -352 | -355 | -0.70 | -171 | 989 | 1,568 |
| 2023 | 653 | -258 | -247 | -0.48 | -103 | 938 | 1,617 |
| 2024 | 937 | -250 | -287 | -0.54 | -12 | 915 | 1,735 |
| 2025 | 1,249 | -190 | -155 | -0.28 | 132 | 1,069 | 2,024 |
| 2026 | 1,619 | -53 | -9 | -0.02 | 236 | 1,420 | 2,541 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | -0.02 | – | 346 | 25.30 | -3.20 | 54 | 49 |
| 2025: Q2 | -0.04 | – | 367 | 30.70 | -6.00 | 53 | 46 |
| 2025: Q3 | -0.03 | – | 392 | 30.40 | -4.30 | 50 | 44 |
| 2025: Q4 | 0.01 | – | 416 | 29.20 | 1.90 | 64 | 56 |
| 2026: Q1 | 0.04 | – | 444 | 28.30 | 5.00 | 70 | 62 |
| 2026: Q2 | 0.08 | – | 479 | 30.50 | 9.30 | 81 | 73 |
| 2026: Q3 | 0.03 | 200.00 | 508 | 29.90 | 3.20 | 74 | 65 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Growth
Quality & Balance Sheet
Earnings & Surprises
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 01/31/2027 | 0.77 | 0.72 – 0.78 | 2,046 | 37.6% | 22 |
| 01/31/2028 | 0.94 | 0.78 – 1.04 | 2,453 | 22.5% | 24 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 28.5% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $255.5M |
|---|---|
| Market cap | $23.20B |
| Free cash flow in year ten | $3.14B |
| Terminal value as a share of market value | 71.4% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Samsara verkauft KI als Kern des eigenen Produkts: Die Connected-Operations-Plattform wertet IoT- und Videodaten mit eigenen KI-Modellen aus, die KI-Videosicherheit erkennt Risiken in Echtzeit, und die „Agents“ automatisieren ganze Arbeitsabläufe.
View the full file — quotes, sources, reviewed filings
„By leveraging recent advancements in artificial intelligence (“AI”), IoT connectivity, cloud computing, and video imagery, we enable the digital transformation of physical operations."
Indem wir jüngste Fortschritte in künstlicher Intelligenz („KI“), IoT-Konnektivität, Cloud-Computing und Videobildern nutzen, ermöglichen wir die digitale Transformation physischer Betriebsabläufe.
10-K · 2026-03-16 · View SEC filing
„Our AI Video-Based Safety applications leverage proprietary AI, embedded at the edge in IoT vehicular cameras, to identify safety risk through over 40 AI detections in real-time."
Unsere KI-gestützten Video-Sicherheitsanwendungen nutzen eigene KI, die direkt in den IoT-Fahrzeugkameras eingebettet ist, um Sicherheitsrisiken über mehr als 40 KI-Erkennungen in Echtzeit zu identifizieren.
10-K · 2026-03-16 · View SEC filing
„Our AI Agents automate complex, data-heavy operational tasks with minimal human oversight."
Unsere KI-Agenten automatisieren komplexe, datenintensive Betriebsaufgaben mit minimaler menschlicher Aufsicht.
10-K · 2026-03-16 · View SEC filing
Filings Reviewed: 10-K 2026-03-16 · 10-Q 2026-06-09 · 10-Q 2025-12-09 · 10-Q 2025-09-09 · 10-Q 2025-06-10 · 10-K 2025-03-25
Rated on July 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 35.4%
- More than 10% revenue growth is expected for the coming year 19.6%
- Share count grows by less than 3% a year 3.7%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 42.4%
- Gross margin at 40% or higher and without meaningful erosion 76.7%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 761 m net cash
- Operating cash flow covers the profits of the last three years 807 m
- Return on capital at 15% or higher, or up versus two years ago -3.2%
- Insiders hold at least 10% or are net buyers 3.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 54.3%
- Exp. sales growth 3Y > 5% 23.1%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 23.1%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -0.6%
- ROCE > 15% -3.2%
- Expected return > 10% 24.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 14, 2026 | Biswas Sanjit | CHIEF EXECUTIVE OFFICER | Other | 305,000 | 0.00 | – |
| Sep 14, 2026 | Biswas Sanjit | CHIEF EXECUTIVE OFFICER | Other | 305,000 | 0.00 | – |
| Sep 10, 2026 | Kirchhoff Benjamin Louis | CHIEF ACCOUNTING OFFICER | Other | 3,651 | 38.65 | 141,111 |
| Sep 10, 2026 | Phillips Dominic | SEE REMARKS | Other | 8,324 | 38.65 | 321,723 |
| Sep 10, 2026 | Eltoukhy Adam | SEE REMARKS | Other | 9,602 | 38.65 | 371,117 |
| Sep 4, 2026 | Phillips Dominic | SEE REMARKS | Sell | 17,909 | 44.25 | 792,556 |
| Sep 4, 2026 | Phillips Dominic | SEE REMARKS | Sell | 11,710 | 44.25 | 518,221 |
| Aug 25, 2026 | Eltoukhy Adam | SEE REMARKS | Sell | 6,876 | 39.82 | 273,802 |
| Aug 20, 2026 | Biswas Sanjit | CHIEF EXECUTIVE OFFICER | Sell | 100 | 40.08 | 4,008 |
| Aug 20, 2026 | Biswas Sanjit | CHIEF EXECUTIVE OFFICER | Sell | 35,266 | 39.43 | 1,390,489 |
The company
About the Company
Samsara Inc. bietet Lösungen zur Verbindung von Daten aus physischen Betriebsabläufen mit ihrer Connected-Operations-Plattform in den USA und international an.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 4,100
- Headquarters
- San Francisco, CA
- Address
- 1 De Haro Street, 94107 San Francisco, United States
- Phone
- 415 985 2400
- Website
- samsara.com
- IPO Date
- 12/15/2021
- ISIN
- US79589L1061
- Stock Split
- 3:1 on 06/15/2005
- Stock Split
- 2:1 on 07/01/1996
Management
| Name | Title | Birth Year |
|---|---|---|
| Sanjit Biswas | Co-Founder, CEO & Chairman | 1982 |
| John Bicket | Co-Founder, Executive VP, CTO & Director | 1980 |
| Dominic Phillips | Executive VP & CFO | 1983 |
| Adam Eltoukhy J.D. | Executive VP, CAO & Corporate Secretary | 1984 |
| Robert Stobaugh | Chief Operating Officer | – |
| Ben Kirchhoff | Chief Accounting Officer | – |
| Stephen Franchetti | Chief Information Officer | – |
| Mike Chang | Vice President of Corporate Development & Investor Relations | – |
| Meagen Eisenberg | Chief Marketing Officer | 1975 |
| Benjamin Calderon | Executive VP and CTO of Hardware & Operations | 1974 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.