Samsara IPO: What Investors Should Know About IOT Stock
The Samsara IPO hit the market on December 15. The company sought an $11.5 billion valuation. Let’s break down the filing for IOT stock…
Samsara IPO: About the Business
Samsara is a developer of end-to-end Internet of Things solutions for businesses. The company provides fleet monitoring and management software to vehicle operators.
Samsara began with a mission to increase the safety, efficiency and sustainability of the operations that power the global economy. For this purpose, the San Francisco-based company developed a cloud-based platform to provide software solutions that improve safety and efficiency.
Samsara offers sensors and cameras to generate data into actionable insights on operational assets like delivery vehicles, fleets of construction trucks and physical locations. The company collects 1.6 trillion data points annually.
This includes insight on video footage, people and motion detection, GPS location, energy consumption, asset utilization, compliance logs, accelerometer data and engine diagnostics.
For example, using the Connected Operations Cloud, Samsara can record data such as truck fuel use and video of speeding delivery drivers. Then, it can provide customers with analytics, alerts and reports.
Samsara Product Offerings
The company’s product offerings include…
- The Connected Operations Cloud – Centralized operations data on a unified platform
- Apps & Driver Workflows – Messaging, dispatch, documents, ELD
- Video-Based Safety – AI cameras, driver coaching, safety reports, in-cab alerts
- Equipment Monitoring – Location tracking, utilization, continuous diagnostics
- Vehicle Telematics – Real-time GPS, routing, fuel, maintenance, electrification
- Site Visibility – Remote visibility, proactive alerting, on-the-go access
- App Marketplace – Install turnkey integrations
The company uses its data to develop actionable business insights. In 2020, Samsara processed more than 38 billion minutes of video. Now, the platform makes over one billion AI-based detections annually.
Samsara claims that improvements in operations based on data from its products can lead to increased profitability and revenue generation for its clients over time. So, let’s look at the company’s finances in the Samsara IPO filing…
Samsara IPO: About the Finances
Detailed financial information is in the Samsara IPO prospectus, allowing you to gain more insight into the company’s finances. Furthermore, if you’re in the market for IOT stock, let’s look at the details.
Samsara highlights some key information for investors. The company’s profit and loss statement and balance sheet data are as follows…
Revenue: Samsara has grown its total revenue. Samsara’s revenue nearly doubled from $249.9 million in fiscal 2021 to $428.3 million in fiscal 2022. Furthermore, revenue for Q4 2021 and Q4 2022 was $75.9 million and $125.8 million – representing year-over-year growth of 66%.
Net Income (Loss): Samsara has incurred losses since it began. Samsara incurred net losses of $210 million in fiscal 2021 and $335 million in fiscal 2022. Losses were $38.4 million and $71 million for the three months ended May 1, 2021 and April 30, 2022. Furthermore, the company warned that it expects to incur more losses in the foreseeable future.
Total Assets and Liabilities: Samsara’s total assets grew from $631 million in February 2020 to $1.57 billion as of January 2022. Furthermore, Samsara’s total liabilities have grown. In January 2021, total liabilities stood at $470.4 million. However, a year later, they grew to $578.9 million.
Cash: Samsara’s cash flows recently are growing. The company recorded $201.1 million in cash in February 2020. A year later, cash grew to $400 million. And another year later cash has more than doubled to $921.2 million.
Samsara received at least $930 million in funding from investors. During a funding round in 2020, Samsara secured a $5.4 billion valuation. So, let’s see how much the Samsara IPO will raised…
Samsara IPO to Trade Under IOT Ticker
Samsara filed on November 19 and set its terms on December 6. The company began trading on December 15. Samsara will trade on the New York Stock Exchange (NYSE) under the ticker IOT.
Samsara offered 35 million shares of common stock. Shares were priced around $23 per share. Samsara ended up raising $805 million in its IPO, which was at the high end of the price predictions.
This landed the company over a $12 billion valuation immediately after its public debut.
Morgan Stanley, Goldman Sachs and JP Morgan lead the Samsara IPO.
If you’re looking for other recent tech debutants, you can check out the HashiCorp IPO here. The company is a cloud infrastructure management solutions company that just made its public debut. Moreover, Stripe and Chime are two popular tech companies that hinted at going public soon.
As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.
About Aimee Bohn
Aimee Bohn graduated from the College of Business and Economics at Towson University. Her background in marketing research helps her uncover valuable trends. Over the past year, her primary focus has been researching IPOs and other trends.