Samsara Inc. Q4 FY2026 earnings call

FY26 was an outstanding year with durable and efficient growth. Samstar helps digitize physical operations through hardware, cloud connectivity, AI, and data integrations. Proprietary data asset is key. Three phases of transformation: connecting operations, analyzing data for insights, automating workflows. Added 204 new 100k-plus ARR customers in Q4, ended FY26 with 3,194 such customers. Large customer wins include Southern California Edison, Groundworks, and Harris County. Emerging products contributed 23% of net new ACV in Q4. Doubled network density in two years. Introduced Asset Tag XS and latest generation asset tags.

FY26 ended with $1.9 billion in ARR, growing 30% year over year. Net new ARR was $432 million, growing 21% year-over-year. ARR from 100K-plus ARR customers was $1.2 billion, up 37% year-over-year, representing 61% of total ARR. ARR from $1 million-plus customers grew 56% year over year. 25K plus customers contributed 85% of total ARR.

Q1 revenue expected between $454 - $456 million, 24% y-o-y growth (22%-23% constant currency). Non-GAAP operating margin 15%, EPS 12-13 cents. FY27 revenue expected $1.965 - $1.975 billion, 21%-22% y-o-y growth (21% constant currency). Non-GAAP operating margin 19%, EPS $0.65 - $0.69. Expected to be GAAP profitable for full-year FY27.

Q: Matt Hedberg with RBC asked about emerging product adoption rates.

A: Sanjay said strong momentum with large customers as they have complex operations.

Q: Keith Weiss with Morgan Stanley asked about net new ARR acceleration drivers and data value.

A: Dominic said acceleration broader than asset tags, emerging products and large customers contribute. Sanjay talked about data accumulation value.

Q: Alex Zukin with Wolf Research asked about AI offering monetization and guidance confidence.

A: Sanjay said AI agent pricing to be determined by usage. Dominic said momentum and efficiency drive confidence.

Q: Michael Turin with Wells Fargo asked about upside sources and FY27 framing.

A: Dominic said multi-product strength and growth momentum.

Q: Matt Martino with Goldman Sachs asked about asset tags strategic end state.

A: Sanjay said both deeper adoption and broader platform.

Q: Matt Bullock with B of A asked about public sector legislation and tailwinds.

A: Sanjay said education and network effects.

Q: Derek Wood with TD Cowan asked about construction vertical drivers and pipeline.

A: Sanjay said construction and utility tailwinds. Dominic said memory price impact managed.

Q: Jim Fish with Piper Sandler asked about emerging product guide and Asset Tag XS.

A: Dominic said broad-based emerging product strength. Sanjay said Asset Tag XS customer-driven.

Q: Alex Sklar with Raymond James asked about Europe resourcing and hiring.

A: Sanjay said Europe investment. Dominic said hiring in go-to-market.

Q: Peter Berkeley with Evercore asked about large customer segment strength.

A: Sanjay said multi-product adoption.

Q: Jackson with William Blair asked about time to value and geopolitical impact.

A: Sanjay said time to value strong. Focus on North America and Western Europe.

Q: Jason Salino with KeyBank asked about AI detections and SBC.

A: Sanjay said AI detections use various models. Dominic said SBC cost management.

Q: Nick with BTIG asked about asset tag real-time detection unlock.

A: Sanjay said helps with theft and safety.

Q: Mark with Loop Capital asked about sales org changes.

A: Sanjay said evolutionary changes.

Q: Andrew with BNP asked about autonomy and data monetization.

A: Sanjay said autonomy expands applications, no plan to sell data