Company: IOT
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001642896-25-000074
Chunk: 99

Company: Samsara Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 The Company’s provision for income taxes was $1.6 million and $1.0 million for the three months ended August 2, 2025 and August 3, 2024, respectively, and $3.2 million and $1.4 million for the six months ended August 2, 2025 and August 3, 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.

19

As of August 2, 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 August 2, 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 six months ended August 2, 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 next 12 months.The Company files income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The statute of limitations is generally open for all fiscal years after fiscal year 2022, during which the Company is subject to examination by U.S. federal, state, and foreign authorities, where applicable.On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was signed into law and includes a broad range of tax reform provisions, including reinstating 100% tax bonus depreciation and immediate expensing for domestic research and experimental expenditures. We are currently evaluating the potential impact of the OBBBA on our current fiscal year effective tax rate.

12.    Net Loss Per Share, Basic and Diluted

For purposes of calculating net loss per share, the Company continues to use the two-class method. As Class A, Class B, and