Company: IOT
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001642896-25-000022
Chunk: 11

Company: Samsara Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 11
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 resulted in a $3.6 million impairment to the related right-of-use (“ROU”) asset and fixed assets, which we recognized in lease modification, impairment, and related charges for the fiscal year ended February 1, 2025. Additionally, in the fourth quarter of fiscal year 2025, we incurred early termination fees on another leased office space, and as a result, we recognized $0.4 million in lease modification, impairment, and related charges for the fiscal year ended February 1, 2025.

In the third quarter of fiscal year 2024, we executed a sublease for certain office space that resulted in a $4.8 million impairment to the related ROU asset and fixed assets, which we recognized in lease modification, impairment, and related charges for the fiscal year ended February 3, 2024.

Legal Settlement

Legal settlement expense is summarized as follows (in thousands, except percentages):

Fiscal Year EndedChangeFebruary 1,2025February 3,2024Amount%Legal settlement$850$68,665$(67,815)(99 %)

Legal settlement expense decreased by $67.8 million for the fiscal year ended February 1, 2025 compared to the fiscal year ended February 3, 2024, primarily due to a $68.7 million settlement agreement reached with a landlord in January 2024, wherein we made a cash payment of $60.0 million and forgave an $8.7 million drawdown against a letter of credit made by the landlord in November 2021.

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Interest Income and Other Income, Net

Interest income and other income, net, are summarized as follows (in thousands, except percentages):

Fiscal Year EndedChangeFebruary 1,2025February 3,2024Amount%Interest income and other income, net$39,559 $39,964 $(405)(1 %)

Interest income and other income, net, decreased by $0.4 million, or 1%, for the fiscal year ended February 1, 2025 compared to the fiscal year ended February 3, 2024. $2.8 million of this decrease was due to an increase in foreign currency losses and $1.9 million of this decrease was due to lower interest income earned on our cash balances as a result of a smaller average balance in our money market funds. These decreases were partially offset by a $4.1 million increase due to interest income earned on a larger