Samsara Inc. (NYSE:IOT) Q1 2023 Earnings Conference Call June 2, 2022 5:00 PM ET
Company Representatives
Sanjit Biswas - Co-Founder, Chief Executive Officer
Dominic Phillips - Chief Financial Officer
Mike Chang - Vice President of Corporate Development and Investor Relations
Conference Call Participants
Kirk Materne - Evercore
Michael Turrin - Wells Fargo
Keith Weiss - Morgan Stanley
Matt Pfau - William Blair
Kash Rangan -Goldman Sachs
Derrick Wood - Cowen
Ethan Bruck - Wolfe
Mike Chang
Good afternoon! And welcome to Samsara’s First Quarter Fiscal 2023 Earnings Call. I’m Mike Chang, Samsara’s Vice President of Corporate Development and Investor Relations. Joining me today are Samsara Co-Founder and Chief Executive Officer, Sanjit Biswas; and our Chief Financial Officer, Dominic Phillips.
In addition to our prepared remarks on this call, additional information can be found in our shareholder letter, press release, investor presentation and SEC filings on our Investor Relations website at investors.samsara.com.
The matters we’ll discuss today include forward-looking statements. Actual results may differ materially from those contained in the forward-looking statements. Any forward-looking statements that we make on this call are based on assumptions as of today, June 2, 2022, and we undertake no obligation to update these statements as a result of new information or future events, unless required by law.
During today’s call some of our discussions will include our first quarter fiscal 2023 financial results. We’d like to point out that the company reports non-GAAP results in addition to and not as a substitute for or superior to financial measures calculated in accordance with GAAP. All financial figures we’ll discuss today are non-GAAP, except for revenues and revenue growth. Reconciliations of GAAP to non-GAAP financial measures are provided with our Press Release and Investor Presentation. We’ll make opening remarks, dive into highlights for Q1 and then open up the call for Q&A.
With that, I’ll hand the call over to Sanjit.
Sanjit Biswas
Thanks Mike! And thank you everyone for joining us today. We had a strong start to the year, surpassing $600 million of ARR in just the 7th year since our founding. This represents 59% year-over-year growth and is a great milestone for the company as we continue to grow at scale.
We also surpassed 15,000 core customers and continue to see exceptional growth in our 100,000 plus ARR customers. This segment now represents approximately 900 customers spanning various industries. It includes the addition of Coach USA, Oklahoma City, a major United States provider of automotive, travel and financial services, and two Fortune 500 customers: one of the largest home improvement retailers in the United States and one of the world’s top-ten global retailers. Samsara is operating at a scale that’s hard to replicate.