Samsara (IOT) Reports Earnings Tomorrow: What To Expect

Kayode Omotosho /
2024/06/05 3:00 am EDT

Internet of Things company Samsara (NYSE:IOT) will be announcing earnings results tomorrow after market hours. Here's what to look for.

Samsara beat analysts' revenue expectations by 7% last quarter, reporting revenues of $276.3 million, up 48.1% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' ARR (annual recurring revenue) estimates.

Is Samsara a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Samsara's revenue to grow 33.3% year on year to $272.4 million, slowing from the 43.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.

Samsara Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Samsara has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 7.3% on average.

Looking at Samsara's peers in the data analytics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Amplitude delivered year-on-year revenue growth of 9.2%, meeting analysts' expectations, and Palantir reported revenues up 20.8%, topping estimates by 2.7%. Amplitude traded down 1.7% following the results while Palantir was also down 15.1%.

Read our full analysis of Amplitude's results here and Palantir's results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the data analytics stocks have fared somewhat better, they have not been spared, with share prices down 6.6% on average over the last month. Samsara is down 12% during the same time and is heading into earnings with an average analyst price target of $41.4 (compared to the current share price of $33.67).

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