At a glance
Samsara Inc is worth $25.48B. Revenue grew 29.6% to $1.62B in fiscal 2026, at a loss; over 5 years it has grown 45.3% a year. It pays no dividend; it spent $5K buying back its shares over FY2022–FY2026. The stock returned +9.0% over the past year with dividends reinvested, against +11.5% for the S&P 500. At its worst it fell 65.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 13 months after the low.
The business in plain English
Samsara sells software that helps businesses run fleets of vehicles, heavy equipment, job sites and frontline workers. Its Connected Operations Platform gathers data from Samsara's own internet-connected devices (the Internet of Things, or IoT). These devices capture video, GPS location, engine diagnostics and more. The platform also pulls in data from equipment makers and other software. Customers act on the data through dashboards, mobile apps and alerts. Applications include AI video-based driver safety, telematics (vehicle tracking), routing and maintenance.
Customers work in construction, transportation, logistics, retail and wholesale trade, field services, manufacturing and utilities, and include state and local governments. Samsara makes money by selling subscriptions, generally priced per asset and per application. Revenue reached $1,618.6 million in fiscal 2026 (the year ended January 31, 2026), up from $1,249.2 million the year before. Subscriptions supplied about 98% of revenue in both years.
Larger customers drive the business. As of January 31, 2026, Samsara had more than 12,000 Core Customers, each paying $25,000 or more in annual recurring revenue (ARR, the yearly value of active subscriptions). Of these, 3,194 paid over $100,000. These two groups made up about 85% and 61% of ARR. The United States produced 85.6% of fiscal 2026 revenue and other countries 14.4%. Fleets have supplied most revenue, but the company is expanding into equipment, sites and workers.
Price history
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IOT +9.0% over the year to Oct 27, 2026, total return with dividends reinvested.
How it makes money
By geography
| United States | $1.39B | 85.6% |
| Other | $233.1M | 14.4% |
Latest results
- In Q2 FY2027 (ended Aug 1, 2026), revenue was $508.4M, up 29.9% from a year earlier, and net income was $16.2M.
- For fiscal 2026, revenue was $1.62B (+29.6% year over year; +45.3% a year from FY2021 to FY2026) with a -0.6% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +45.3% good |
|---|---|
| Operating margin | -3.2% weak |
| Free cash flow margin | 12.8% good |
| Return on equity (FY2026) | -0.6% weak |
| Return on assets (FY2026) | -0.4% weak |
| Cash and investments | $291.4M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $249.9M | $-210.2M | $-203.9M |
| FY2022 | $428.3M | $-355.0M | $-190.8M |
| FY2023 | $652.5M | $-247.4M | $-136.3M |
| FY2024 | $937.4M | $-286.7M | $-22.8M |
| FY2025 | $1.25B | $-154.9M | $111.5M |
| FY2026 | $1.62B | $-9.1M | $207.4M |
Valuation snapshot
| Market value | $25.48B |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| IOT price data to Oct 27, 2026 | +22.7% | +9.0% | +25.1% | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +22.7% |
| 2025 | -18.9% |
| 2024 | +30.9% |
| 2023 | +168.5% |
| 2022 | -55.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 56.4% over that stretch · deepest drop along the way 65.6%, back to its old high 12.8 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 117 sales ($89.8M), 117 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 29, 2026 | Sanjit Biswas CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell (plan) | $3.8M |
| Sep 29, 2026 | John Bicket SEE REMARKS, Director, 10% owner | sell (plan) | $3.8M |
| Aug 18, 2026 | John Bicket SEE REMARKS, Director, 10% owner | sell (plan) | $3.5M |
| Oct 28, 2026 | Sanjit Biswas CHIEF EXECUTIVE OFFICER, Director, 10% owner | sell (plan) | $3.5M |
| Oct 28, 2026 | John Bicket SEE REMARKS, Director, 10% owner | sell (plan) | $3.5M |
Who owns it
Large shareholders (13G filings)
| Sanjit Biswas | 21.6% | Mar 31, 2026 |
| John Bicket | 21.3% | Dec 31, 2025 |
| BAILLIE GIFFORD & CO | 14.2% | Sep 30, 2026 |
| T. Rowe Price Associates, Inc. | 13.1% | Jun 30, 2026 |
| FMR LLC | 6.5% | Mar 31, 2026 |
| BlackRock, Inc. | 5.6% | Dec 31, 2025 |
| SANDS CAPITAL MANAGEMENT, LLC | 4.4% | Mar 31, 2026 |
| Morgan Stanley | 1.5% | Mar 31, 2026 |
ETFs with the most weight in IOT
| SNSR Global X Internet of Things ETF | 5.8% |
| FPX First Trust US Equity Opportunities ETF | 4.69% |
| TSEL Touchstone Sands Capital US Select Growth ETF | 3.04% |
| AGIX KraneShares Artificial Intelligence & Technology ETF | 2.66% |
| THNQ ROBO Global Artificial Intelligence ETF | 2.64% |
| GTEK Goldman Sachs Future Tech Leaders Equity ETF | 2.22% |
| AFGR First Trust Active Factor Large Cap Growth ETF | 2.17% |
| ROBO ROBO Global Robotics & Automation Index ETF | 1.8% |
What could go wrong
- Expansion beyond fleets may not pay off. Most revenue has come from applications for customers' vehicle fleets. Growing into equipment, sites and frontline workers takes heavy spending. It may also take Samsara into areas where it has limited experience and heavier regulation.
- Reliance on a few device makers. Samsara depends on a limited number of manufacturers and component suppliers for its IoT devices. Shortages could mean lost sales or delayed revenue. Too much inventory could hurt results.
- A breach could expose sensitive customer data. The platform handles video, location and other data from customers' vehicles and sites. A security breach, an outage or an AI error could damage trust, create legal liability and cost Samsara customers.
- Growth is expected to keep slowing. Revenue grew 29.6% in fiscal 2026, and Samsara itself expects its growth rate to keep declining as the business matures. Competition, weaker demand or contract non-renewals could slow growth faster.
- A short record of profits. Samsara lost money in every period until the third quarter of fiscal 2026. Its accumulated losses reached $1,619.1 million as of January 31, 2026. Rising expenses and stock-based pay could hold back profits.
- Looser rules could reduce demand. Some Samsara tools, such as hours-of-service compliance for drivers, help customers meet regulations. If governments ease the rules on customers' operations, demand for some applications could fall.
Recent events
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Change to shareholder rights; Bylaws or fiscal year changed
- Shareholder vote results
- Quarterly results released
- Other company announcement
- Quarterly results released
For income and retirement investors
Samsara pays no dividend and has made no meaningful share buybacks, so it offers no income stream. Any return has to come from a rising share price, which means an income investor would need to sell shares to raise cash. The business has started to generate cash. Free cash flow (cash from operations minus capital spending) was $207.4 million in fiscal 2026 (the year ended January 31, 2026), up from $111.5 million a year earlier, after years of outflows.
The shares swing hard. In the 2022 bear market they fell 65.6% from January 3 to May 11, 2022, and did not recover until June 5, 2023, about 13 months later. As of October 27, 2026, the deepest drop over the prior year was 46.4%. Samsara's trading record is too short to show how it fared in the 2008 financial crisis or the 2020 COVID crash. A single stock like this carries far more risk than a diversified fund.
Questions investors ask
How does Samsara make money?
Samsara makes money almost entirely from subscriptions. About 98% of revenue in each of fiscal 2025 and 2026 came from subscriptions to its Connected Operations Platform, generally priced per asset and per application. Customers such as construction firms, logistics companies, utilities and local governments use Samsara's internet-connected devices on vehicles and equipment. They subscribe to software like AI video-based safety, telematics (vehicle tracking) and routing. Revenue was $1,618.6 million in the fiscal year ended January 31, 2026, and 85.6% of it came from the United States.
Is Samsara profitable?
Not on a full-year basis as of its latest annual report, though it is close. Samsara lost $9.1 million in the fiscal year ended January 31, 2026, down from a $154.9 million loss a year earlier. It had lost money in every period until the third quarter of that fiscal year. In the quarter ended August 1, 2026, it earned $16.2 million on $508.4 million of revenue. Free cash flow, the cash left after operating costs and capital spending, was $207.4 million for fiscal 2026.
Does Samsara pay a dividend?
No. Samsara paid no dividends from fiscal 2022 through fiscal 2026, and its share buybacks over that span were negligible. The company expects its expenses to rise substantially as it builds out its platform, sales teams and operations, which suggests cash will stay in the business. For an income investor, that means no payout. Any return would come from the share price, which fell 65.6% during the 2022 bear market.
How has Samsara stock performed?
Strongly over three years, but with large swings. As of October 27, 2026, the share price had returned about 25.1% a year over three years, 9% over one year and 22.7% for 2026 so far. By calendar year, the stock fell 55.8% in 2022, rose 168.5% in 2023 and 30.9% in 2024, then lost 18.9% in 2025. Its deepest fall from a peak since it began trading was 70.4%.
Who owns the most Samsara stock?
Two insiders hold the largest stakes. SEC ownership filings put CEO and director Sanjit Biswas at 21.6% as of March 31, 2026, and director John Bicket at 21.3% as of December 31, 2025. The largest outside holders include Baillie Gifford, at 14.2% as of September 30, 2026, and T. Rowe Price, at 13.1% as of June 30, 2026. Both insiders have been selling. From October 30, 2025, to October 30, 2026, insider sales totaled at least $89.8 million, all under preset trading plans, with no insider purchases.