Samsara on Thursday reported fourth quarter earnings and revenue that topped Wall Street targets while the company's revenue guidance came in above expectations. Samsara stock popped on the news.
The company released the Samsara earnings report after the market close. On the stock market today, Samsara stock popped more than 14% to 39.38 in extended trading.
For the quarter ended Feb. 3, San Francisco-based Samsara reported a profit of 4 cents per share on an adjusted basis vs. a 2-cent loss a year earlier. Meanwhile, revenue rose 48% to $276.3 million, the company said.
Samsara Stock: Guidance Tops Views
Analysts expected Samsara to record 3-cent profit on sales of $258.3 million. Annual recurring revenue from subscriptions rose 39% to $1.102 billion, topping estimates of $1.076 billion.
For the current quarter ending in April, Samsara said it expects revenue of $272 million at the midpoint of its outlook. Samsara stock analysts had projected revenue of $267.1 million.
Heading into the Samsara earnings report, the company owned a Relative Strength Rating of 76 out of a best-possible 99, according to IBD Stock Checkup. Also, Samsara stock was about break-even in 2024.
Founded in 2015, Samsara provides sensors and cloud-based software to manage vehicle fleets and industrial operations. Further, its Internet of Things platform provides GPS tracking for trucks, and monitors routes and vehicle performance.
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