Samsara Inc. (NYSE: IOT) has reported its financial results for the second quarter ended August 3, 2024, showcasing impressive growth and performance. The company's second quarter fiscal year 2025 highlights include $300.2 million in total revenue, marking a significant 37% year-over-year growth from the second quarter of fiscal year 2024 when revenue was $219.3 million. Additionally, the annual recurring revenue (ARR) for the second quarter of fiscal year 2025 stood at $1.264 billion, representing a substantial 36% increase from $930.0 million in the same period last year.
In terms of customer base, Samsara reported 2,133 customers with ARR over $100,000, demonstrating a noteworthy 41% increase compared to the previous year. The company's CEO and co-founder, Sanjit Biswas, emphasized the achievement of reaching more than 10 trillion data points annually on the Samsara platform, highlighting the significant scale of their data asset as the business continues to grow.
On the financial front, both GAAP and non-GAAP gross profit margins improved. GAAP gross profit was reported at $226.8 million with a gross margin of 76%, up from $160.4 million and 73% respectively in the second quarter of fiscal year 2024. Similarly, non-GAAP gross profit reached $230.8 million with a gross margin of 77%, compared to $163.7 million and 75% in the same period last year.
The company also saw a substantial improvement in operating margin. While the GAAP operating loss was $(58.2) million, it represented a significant 12 percentage point reduction from the $(69.8) million loss in the second quarter of fiscal year 2024. On a non-GAAP basis, Samsara achieved an operating income of $17.6 million in the second quarter of fiscal year 2025, a substantial increase from a loss of $(5.9) million in the same period last year. This improvement in non-GAAP operating margin represented a 9 percentage point increase from the previous year.
Furthermore, the net cash provided by operating activities for the second quarter of fiscal year 2025 was reported at $18.1 million, reflecting a notable 3 percentage point increase from $7.7 million in the same period last year. Adjusted free cash flow also exhibited a significant improvement, reaching $13.1 million and representing a 2 percentage point increase from $4.7 million in the second quarter of fiscal year 2024.
Looking ahead, Samsara provided guidance for the third quarter, fourth quarter, and fiscal year 2025, expecting continued growth and performance. The company anticipates total revenue for the fiscal year 2025 to be in the range of $1.224 billion to $1.228 billion, with year-over-year revenue growth projected at 31%. Additionally, non-GAAP operating margin for the fiscal year 2025 is expected to be 5%, and non-GAAP net income per share, diluted, is projected to be in the range of $0.16 to $0.18.
Samsara Inc. remains focused on its mission to increase the safety, efficiency, and sustainability of the operations that power the global economy, leveraging its connected operations® cloud and IoT data to provide actionable insights to businesses across various industries. The market has reacted to these announcements by moving the company's shares 0.2% to a price of $38.75. For the full picture, make sure to review Samsara's 8-K report.
