Company: IOT
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001642896-25-000058
Chunk: 55

Company: Samsara Inc.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 and Remaining Performance Obligations

Revenue Recognition—Subscription revenue is generated from subscriptions to access the Company’s Connected Operations Platform. Subscription agreements contain multiple service elements for one or more of the Company’s cloud-based Applications via mobile app(s) or a website that enable data collection and provide access to the cellular network, generally one or more wireless gateways, cameras, sensors and other devices (collectively, “connected devices” or “IoT devices”), support services delivered over the term of the arrangement, and warranty coverage. The Company’s Connected Operations Platform and the related connected device access points are highly interdependent and interrelated, and represent a combined performance obligation, which is recognized over the related subscription period.Other revenue is generally recognized at a point in time and is earned through the sale of replacement gateways, sensors and cameras, as well as shipping and handling fees, credit card processing fees, and professional services.Revenue consists of the following (in thousands):Three Months EndedMay 3, 2025May 4, 2024Subscription revenue$359,604 $276,194 Other revenue7,280 4,532 Total revenue$366,884 $280,726 Accounts Receivable—An allowance for credit losses balance of $10.7 million and $9.1 million was recorded as of May 3, 2025 and February 1, 2025, respectively. During the three months ended May 3, 2025, the Company recorded a charge of $1.4 million to operations and recovered $0.2 million against the allowance. During the three months ended May 4, 2024, the Company recorded a charge of $2.2 million to operations and wrote off $1.6 million against the allowance.Deferred Revenue—The following table provides the deferred revenue balances and revenue recognized from beginning deferred revenue balances for the periods presented (in thousands): Three Months EndedMay 3, 2025May 4, 2024Deferred revenue, beginning of period$685,770 $565,486 Deferred revenue, end of period$706,112 $588,017 Revenue recognized in the period from beginning deferred revenue balance$338,793 $258,552 Remaining Performance Obligations (“RPO”)—RPO represents the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods.As of May 3,