Samsara Stock Jumps 15% After 3Q Revenue Surges

By Will Feuer

Shares of Samsara popped after the software company, which focuses on fleet-management solutions, reported third-quarter revenue that rose 40% and raised its full-year outlook.

The stock rose almost 15% to $31.60 in the premarket session. Through Thursday’s close, shares were already almost 122% higher this year.

The company’s quarterly revenue of $237.5 million topped analysts expectations of $224.7 million. On a conference call with analysts, Chief Executive Sanjit Biswas said the company is seeing momentum growing accounts with large customers.

Adjusted profit of four cents a share for the quarter also topped analysts’ expectations for adjusted earnings of a penny a share. The company also raised its full-year outlook for sales and adjusted earnings.

Analysts at William Blair, a boutique investment bank, said the quarter’s results show the breadth of Samsara’s addressable market. They said the company also is growing business in some of its additional use cases beyond fleet management.

Truist analysts said it was Samsara’s first quarter with positive operating margins, indicating the company can streamline operations without sacrificing growth.

Write to Will Feuer at [email protected]

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