Company: IOT
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001642896-25-000058
Chunk: 62

Company: Samsara Inc.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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):Three Months EndedMay 3, 2025May 4, 2024Stock options$— $784 RSUs74,062 60,868 Employee stock purchase plan3,017 3,004 Total stock-based compensation expense$77,079 $64,656 Stock-based compensation expense included in the following line items of the Company’s condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):Three Months EndedMay 3, 2025May 4, 2024Cost of revenue$3,247 $2,930 Research and development27,020 23,399 Sales and marketing23,548 18,492 General and administrative23,264 19,835 Total stock-based compensation expense$77,079 $64,656 

11.    Income Taxes

The Company had an effective tax rate of (7.7%) and (0.7%) for the three months ended May 3, 2025 and May 4, 2024, respectively. The Company’s provision for income taxes was $1.6 million and $0.4 million for the three months ended May 3, 2025 and May 4, 2024, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions.The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax income from recurring operations and adjusting for discrete tax items arising in that quarter.As of May 3, 2025 and February 1, 2025, based on all available objective evidence, including the existence of cumulative losses, the Company determined that it was not more likely than not that the net deferred tax assets were fully realizable for U.S. federal and state tax purposes. Accordingly, the Company established a full valuation allowance against its deferred tax assets for U.S. federal and state tax purposes. The Company intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal of the valuation allowance for U.S. federal and state tax purposes.The unrecognized tax benefits as of May 3, 2025, if recognized, would not affect the effective income tax rate due to the valuation allowance that currently offsets the deferred tax assets.During the three months ended May 3, 2025, there were no material changes to the total amount of unrecognized tax benefits and the Company does not expect any significant changes in the