Samsara said the construction of data centers, updates to the energy grid, and other government-related infrastructure investments are driving new demand across its platform. Recent business wins prompted the fleet telematics and safety technology company to raise its full-year revenue and earnings outlook.
San Francisco-based Samsara (NYSE: IOT) reported total revenue of $479 million, a 31% year-over-year increase, for its 2027 fiscal first quarter ended May 2. It added $101 million in incremental annual recurring revenue during the period, pushing the full-year run rate to nearly $2 billion.
Among the wins were 11 new $1-million-plus contracts, Samsara’s second-highest quarter for large deals. It now has 3,363 customers spending at least $100,000 annually on the platform and 190 customers spending over $1 million.
“Our customers are facing unprecedented demand and are constrained by worker capacity,” said Sanjit Biswas, Samsara CEO and co-founder. “We see a massive opportunity to transform physical industries with Operational AI and AI Agents – automating work, unlocking capacity, and driving greater productivity across the sectors that power the global economy.”
The company raised its full-year revenue guidance to a range of $2.005 billion to $2.013 billion, which would be a 24% y/y increase. The prior outlook called for a 21% to 22% y/y increase.
First-quarter adjusted earnings per share of 17 cents was 6 cents higher y/y. The company achieved net profitability on an unadjusted basis for a third consecutive quarter.
Full-year adjusted EPS guidance was raised to a range of 70 to 72 cents, 6% higher than the prior forecast.
Many of Samsara’s customers are rapidly scaling their businesses to participate in a global infrastructure buildout. They continue to look to Samsara to digitize operations and save money.
“Our customers are operating at a scale most people don’t see,” said Amit Vyas, chief revenue officer. “They’re building power grids, maintaining road networks, and running distribution systems that touch every part of daily life.
“As those operations grow, so does the complexity of keeping them safe, efficient, and connected. Every vehicle, asset, and job site they bring onto our platform generates data that makes the entire system smarter. It’s why our largest customers keep expanding their partnership with us, and why we’re seeing so much momentum in this market.”
Samsara’s Connected Operations Platform uses sensors, cameras and telematics devices to capture over 25 trillion data points annually.
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