Samsara Inc.

Worth knowing

• Profit looks boosted by one-off gains. Reported profit is 2.9× operating cash profit (EBITDA), lifted by income outside the core business.Reported profit is 2.9× operating cash profit, lifted by income outside the core business.

  Samsara's reported profit is 2.9× its operating cash profit (EBITDA), which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.Samsara's reported profit is 2.9× its operating cash profit, which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.

• Stock-based pay is a large cost. Stock pay was 19% of revenue in FY Jan 2026.

  Samsara paid employees $315M in stock in FY Jan 2026, 19% of its $1.6B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

• Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

  Samsara made a profit per share in its latest year after a loss the year before.

• Operating loss narrowing. Operating margin -3.2% in FY Jan 2026, the smallest loss relative to revenue of the last 6 years.

  Samsara still lost money on operations in FY Jan 2026 (margin -3.2%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.