Company: IOT
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001642896-25-000058
Chunk: 71

Company: Samsara Inc.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 with software subscriptions, office facilities, IT-related expenses, and depreciation and amortization of property and equipment.

We expect our general and administrative expenses to continue to increase in absolute dollars for the foreseeable future to support our growth. Our general and administrative expenses have fluctuated in the past and may in the future fluctuate as a percentage of our revenue from period to period due to the timing and extent of these expenses.

Interest Income and Other Income, Net

Interest income and other income, net, consists primarily of income earned on our money market funds included in cash and cash equivalents, restricted cash, and our short-term and long-term investments, including amortization of premiums and accretion of discounts related to our marketable debt securities, net of associated fees. We also have foreign currency remeasurement gains and losses and foreign currency transaction gains and losses. As we have expanded our global operations, our exposure to fluctuations in foreign currencies has increased, and we expect this to continue.

Provision for Income Taxes

Provision for income taxes consists primarily of income taxes in certain foreign jurisdictions in which we conduct business. We maintain a full valuation allowance against our U.S. deferred tax assets because we have concluded that it is more likely than not that the deferred tax assets will not be realized.

In December 2021, the Organization for Economic Co-operation and Development introduced a new global minimum corporate tax of 15%, commonly referred to as Pillar Two. While the United States has not yet adopted the Pillar Two rules, various other international governments are enacting legislation which became effective for us beginning in fiscal year 2026. We do not currently expect to experience a material impact from the Pillar Two legislation, but we expect to incur additional costs related to compliance with this legislation. We will continue to monitor United States and global legislative action related to Pillar Two for potential impacts.

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Table of Contents

Results of Operations

Comparison of the Three Months Ended May 3, 2025 and May 4, 2024

Revenue

Our total revenue is summarized as follows (in thousands, except percentages):

Three Months EndedChangeMay 3,2025May 4,2024Amount%Revenue$366,884 $280,726 $86,158 31 %

Revenue increased by $86.2 million, or 31%, for the three months ended May 3, 2025 compared to the three months ended May 4, 2024, primarily due to an increase in customer count and increased purchases of our