0001628280-25-056069
SEC filingSamsara's Notes show $3.4B RPO, $872M investments, $393.6M connected device costs, and a single operating segment.
As of November 1, 2025, Samsara held $275.1 million in cash and cash equivalents, $486.7 million in short-term investments, and $385.3 million in long-term investments, totaling $1.1 billion in cash and marketable securities. The company has no debt. Total assets were $2.3 billion, with stockholders' equity of $1.3 billion. Inventories increased to $55.0 million from $38.9 million at fiscal year-end, driven by a rise in finished goods. Connected device costs (current and non-current) grew to $393.6 million, reflecting continued investment in hardware deployed with subscriptions.
Samsara's remaining performance obligations (RPO) stood at $3,378.2 million as of November 1, 2025, with $1,499.4 million expected to be recognized over the next 12 months. Deferred revenue totaled $754.7 million. Operating lease liabilities were $75.6 million, with future minimum lease payments of $87.3 million through 2031 and thereafter. The company had $15.8 million in letters of credit outstanding. Purchase commitments were described as non-cancelable purchase orders and SaaS subscription agreements, but no specific dollar amount was disclosed. No material contractual obligations outside the ordinary course were noted.
Samsara did not repurchase any shares or pay dividends during the period. The company has no debt. Capital expenditures (property and equipment purchases) totaled $20.7 million for the nine months ended November 1, 2025, representing 1.8% of revenue. Internal-use software costs capitalized were $22.2 million. The company's primary capital allocation is reinvestment in the business, as evidenced by growth in connected device costs and deferred commissions.
Samsara operates as a single reportable segment. The CODM uses consolidated operating loss and net income to evaluate performance. For the nine months ended November 1, 2025, subscription revenue was $1,151.6 million (98.1% of total revenue) and other revenue was $22.7 million. Geographically, the United States contributed $1,007.2 million (85.8% of revenue), while other countries accounted for $167.1 million. No individual country other than the U.S. exceeded 10% of total revenue. Long-lived assets (property, equipment, and operating lease ROU assets) were concentrated in the U.S. at $130.6 million.
For the nine months ended November 1, 2025, Samsara reported a net loss of $31.2M, a significant improvement from a net loss of $143.7M in the prior-year period. Operating cash flow (CFO) was $166.5M, more than double the $77.8M reported a year ago, reflecting strong cash generation relative to net income. The primary driver was stock-based compensation expense of $236.1M (up from $208.9M), along with favorable working capital changes, particularly a $65.8M increase in deferred revenue and a $5.6M decrease in prepaid expenses.
Capital expenditures (capex) totaled $20.7M, up from $14.8M, representing a capex intensity of approximately 12.4% of CFO. Free cash flow (not explicitly stated) would be CFO less capex, or roughly $145.8M. The company did not repurchase shares or pay dividends during the period.
Investing activities consumed $134.7M, driven by net purchases of investments ($112.8M net of maturities and sales). Financing activities provided $17.9M, primarily from equity compensation plan proceeds. Overall, cash and restricted cash increased by $50.6M to $296.4M. No unusual one-time items were noted; the cash flow profile reflects a maturing business with improving operating leverage and continued investment in growth.