Company: IOT
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001628280-25-056069
Chunk: 56

Company: Samsara Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 1
Chunk 56
---
in thousands):Fiscal Years EndingAmountRemainder of 2026$3,014 202717,622 202816,505 202916,294 203015,800 2031 and thereafter18,052 Total future minimum lease payments (1)87,287 Less: imputed interest(11,650)Total operating lease liabilities$75,637 __________(1)The contractual commitment amounts under operating leases in the table above are primarily related to facility leases for the corporate office facilities in San Francisco, California, as well as other offices for local operations.Fiscal year 2026 lease modificationIn the nine months ended November 1, 2025, the Company amended the lease for certain office spaces, which resulted in additional operating lease liabilities arising from obtaining ROU assets of $8.8 million.

15

Prior year lease modification, impairment, and related chargesIn September 2024, the Company executed a sublease for certain office space, which resulted in an impairment of the corresponding ROU and fixed assets of $3.6 million. This impairment charge was recorded in “Lease modification, impairment, and related charges” for the three and nine months ended November 2, 2024.Finance leasesIn addition to its operating leases, the Company has non-cancelable finance leases for equipment. The balances for finance leases were immaterial as of November 1, 2025 and February 1, 2025 and were recorded in “Other assets,” “Accrued expenses and other current liabilities,” and “Other liabilities” on the condensed consolidated balance sheets.

9.    Commitments and Contingencies

Operating Leases—See Note 8, “Leases,” for the maturities of operating lease liabilities as of November 1, 2025.Purchase Commitments—The Company’s purchase commitments consist of contractual arrangements with software-as-a-service subscription providers and non-cancelable purchase orders based on current inventory needs fulfilled by the Company’s suppliers and joint design manufacturers. There were no material contractual obligations that were entered into by the Company during the nine months ended November 1, 2025 that were outside of the ordinary course of business.Letters of Credit—As of November 1, 2025 and February 1, 2025, the Company had $15.8 million and $14.6 million, respectively, in letters of credit outstanding primarily in favor of certain landlords for office space. These letters of credit renew annually and expire on various dates