Company: IOT
Filing Date: 2025-12-09
Form Type: 10-Q
Source: 0001628280-25-056069
Chunk: 73

Company: Samsara Inc.
Filing Date: 2025-12-09
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 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.

26

Results of Operations

Comparison of the Three and Nine Months Ended November 1, 2025 and November 2, 2024

Revenue

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

Three Months EndedChangeNine Months EndedChangeNovember 1,2025November 2,2024Amount%November 1,2025November 2,2024Amount%Revenue$415,975 $321,981 $93,994 29%$1,174,339 $902,909 $271,430 30%

Revenue increased by $94.0 million and $271.4 million, or 29% and 30%, for the three and nine months ended November 1, 2025, respectively, compared to the three and nine months ended November 2, 2024, primarily due to an increase in new customers and increased purchases of subscriptions to our Connected Operations Platform, including subscriptions to additional Applications, by existing customers.

Cost of Revenue, Gross Profit, and Gross Margin

Our cost of revenue, gross profit, and gross margin are summarized as follows (in thousands, except percentages):

Three Months EndedChangeNine Months EndedChangeNovember 1,2025November 2,2024Amount%November 1,2025November 2,2024Amount%Cost of revenue$96,964$76,027$20,937 28%$270,634$218,017$52,617 24%Gross profit$319,011$245,954$903,705$684,892Gross margin77%76%77%76%

Cost of revenue increased by $20.9 million, or 28%, for the three months ended November 1, 2025 compared to the three months ended November 2, 2024, primarily due to $9.7 million of increased cloud and cellular costs associated with our product offerings and $7.4 million of increased connected device costs. The increases in cloud and cellular costs and connected device costs were primarily due to increased sales volume year-over-year.

Our gross margin increased to 77% for the three months ended November 1, 2025 compared to 76% for the three months ended November 2, 2024, mainly due to operational efficiencies in direct labor costs and connected device costs.