Company: IOT
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001642896-25-000058
Chunk: 74

Company: Samsara Inc.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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.7 million decrease in rent and related expenses.

Interest Income and Other Income, Net

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

Three Months EndedChangeMay 3,2025May 4,2024Amount%Interest income and other income, net$12,723 $10,084 $2,639 26 %

Interest income and other income, net, increased by $2.6 million, or 26%, for the three months ended May 3, 2025 compared to the three months ended May 4, 2024. This increase was due to $1.9 million in foreign currency gains, as well as an increase of $1.6 million due to interest income earned on a larger investment base of our managed portfolio of marketable debt securities and an increase of $0.9 million due to higher interest income earned on our cash balances as a result of a larger balance in our money market funds. These increases were partially offset by a $1.7 million decrease in the net accretion of discounts on our marketable debt securities.

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Provision for Income Taxes

Provision for income taxes is summarized as follows (in thousands, except percentages):

Three Months EndedChangeMay 3,2025May 4,2024Amount%Provision for income taxes$1,589$376$1,213 323 %Effective tax rate(7.7 %)(0.7 %)

The provision for income taxes increased by $1.2 million, or 323%, for the three months ended May 3, 2025 compared to the three months ended May 4, 2024, primarily due to higher taxes related to our operations in foreign jurisdictions.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we review the following non-GAAP financial measures to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions (in thousands, except percentages):

Three Months EndedMay 3, 2025May 4, 2024Non-GAAP gross profit$288,076 $215,867 Non-GAAP gross margin79 %77 %Non-GAAP operating income$51,071 $6,159 Non-GAAP operating margin14 %2 %Non-GAAP net income$