Samsara (IOT) Crosses $2B, But Growth Comes With A Hardware Tax
Samsara (NASDAQ:IOT) has reached $2.1 billion in annual recurring revenue, with a 30% year-over-year growth rate, according to their September 3rd report. The quarterly revenue touched $508.4 million, mirroring the same growth rate. The company reported its fourth straight quarter of GAAP profitability, netting $0.03 per share. Samsara's growth, however, is closely tied to the number of physical devices they have deployed, such as sensors and cameras strapped to trucks and job sites.
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