Samsara Inc. (NYSE:IOT) Q3 2024 Earnings Conference Call November 30, 2023 5:00 PM ET
Company Participants
Mike Chang - Vice President of Corporate Development and Investor Relations
Sanjit Biswas - Co-Founder and Chief Executive Officer
Dominic Phillips - Executive Vice President and Chief Financial Officer
Conference Call Participants
Michael Turrin - Wells Fargo Securities, LLC
Matthew Hedberg - RBC Capital Markets
Chris Quintero - Morgan Stanley
Kasthuri Rangan - Goldman Sachs Group, Inc.
Derrick Wood - TD Cowen
Alex Zukin - Wolfe Research
Matthew Pfau - William Blair & Company, LLC
Daniel Jester - BMO Capital Markets
Junaid Siddiqui - Truist Securities, Inc.
Kirk Materne - Evercore ISI
Mike Chang
Good afternoon, and welcome to Samsara's Third Quarter Fiscal 2024 Earnings Call. I'm Mike Chang, Samsara's Vice President of Corporate Development and Investor Relations. Joining me today are Samsara Chief Executive Officer and Co-Founder, 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 and are subject to risks and uncertainties described more fully in our SEC filings. Any forward-looking statements that we make on this call are based on assumptions as of today, November 30, 2023, 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 third quarter fiscal 2024 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 will discuss today are non-GAAP, except for revenue 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 the quarter and then open the call up for Q&A.
With that, I'll hand over the call to Sanjit.
Sanjit Biswas
Thanks, Mike, and thank you, everyone for joining us today. Samsara had another milestone quarter. We surpassed $1 billion in ARR, growing 39% year-over-year. We are a strategic partner for the world's leading and most complex physical operations organizations. Large customer momentum continues to fuel our growth, and we added a record quarterly – a quarterly record of 148 customers with more than a $100,000 in ARR. This represents our fastest-growing customer cohort, growing 49% year-over-year. We also added a quarterly record of nine customers with more than a $1 million in ARR and seven Fortune 1000 customers.