On this page of StockholderLetter.com we present the latest annual shareholder letter from Samsara Inc. — ticker symbol IOT. Reading current and past IOT letters to shareholders can bring important insights into the investment thesis.
Samsara Annual Report June 1, 2026
To our Shareholders, Our vision to transform physical operations is not just about gaining visibility and insights, but building a system intelligent enough to act. Over the last fiscal year, Samsara made meaningful progress on our vision. Our first AI agent, the Safety Coach, doesn't just surface risk it coaches drivers in real time, adjusting for weather, road conditions, and individual history. This is where we're headed: building a platform that helps our customers take action to help them reduce risk, use their assets more efficiently, and scale their operations. FY26 was an outstanding year of durable and efficient growth, and I'm excited to share what we've accomplished and where we're headed. We ended FY26 with $1.9B in ARR, growing 30% year-over-year. Our $432M of net new ARR drove this performance, growing 21% year-over-year and demonstrating our ability to accelerate growth even as we operate at a much larger scale. Our momentum is strongest with our largest customers: we ended the year with 3,194 $100K+ ARR customers, representing $1.2B of total ARR. It s clear that Samsara is uniquely positioned to help digitize the world of physical operations a collection of diverse industries including construction, transportation and logistics, utilities, and field services that together make up more than 40% of the world's GDP. At the heart of our competitive advantage is our proprietary data asset information that simply isn't found on the internet. From dashcam imagery captured daily across hundreds of millions of miles of roads to specific maintenance inspection workflows and service routes, we now have more than 25 trillion data points flowing through our platform annually. This data fuels a powerful network effect: as we add more customers and assets, our AI models become more insightful for everyone on the platform, creating a compounding advantage that is difficult to replicate. We see the transformation of physical operations occurring in three distinct phases. First, we connect operations to the cloud using IoT hardware, bringing real-time data like video, GPS locations, and sensor readings into a single system replacing legacy silos and paper logs. Second, we apply purpose-built AI to that unified data to surface actionable insights that were previously unattainable, such as predicting asset breakdowns by comparing sensor data against tens of thousands of similar assets, or benchmarking an organization's safety and efficiency against industry peers. Third, and most exciting, we are now building AI agents that go beyond insights to automate entire workflows shifting the paradigm from telling our customers what to do, to doing it for them. This year, we entered a new chapter in our journey with the launch of our very first AI agent, the AI Safety Coach. It autonomously analyzes safety risks and takes action to coach frontline workers, delivering real-time voice coaching in the cab, personalized end-of-week reviews, and dynamically adjusted safety alerts based on conditions like weather. This represents a fundamental shift from providing insights that require a human to interpret and act, to delivering automated outcomes. Beyond safety, our roadmap includes a suite of specialized AI agents for compliance, maintenance, and dispatching, designed to act as force multipliers that enable our customers to scale operations without the traditional linear increase in administrative costs. The opportunity ahead of us is significant. Physical operations are the backbone of our global economy, and we are still in the early stages of a multi-decade digitization effort. By continuing to invest in innovation, expand our platform, and partner closely with our customers, we believe we can drive durable growth and create substantial long-term value for all of our stakeholders. Thank you for your continued confidence and support as we build the future of connected operations. Sincerely, Sanjit Biswas Chief Executive Officer and Co-Founder FY26 | 1
 • shareholder letter icon 6/1/2026 Letter Continued (Full PDF)
 • stockholder letter icon 5/18/2023 IOT Stockholder Letter
 • stockholder letter icon 5/29/2024 IOT Stockholder Letter
 • stockholder letter icon 6/2/2025 IOT Stockholder Letter
 • stockholder letter icon More "Application Software" Category Stockholder Letters
 • Benford's Law Stocks icon IOT Benford's Law Stock Score = 72


IOT Shareholder/Stockholder Letter Transcript:

Samsara
Annual Report
June 1, 2026

To our Shareholders,
Our vision to transform physical operations is not just about gaining visibility and insights, but building a system
intelligent enough to act. Over the last fiscal year, Samsara made meaningful progress on our vision. Our first AI
agent, the Safety Coach, doesn't just surface risk     it coaches drivers in real time, adjusting for weather, road
conditions, and individual history. This is where we're headed: building a platform that helps our customers take
action to help them reduce risk, use their assets more efficiently, and scale their operations.
FY26 was an outstanding year of durable and efficient growth, and I'm excited to share what we've accomplished and
where we're headed. We ended FY26 with $1.9B in ARR, growing 30% year-over-year. Our $432M of net new ARR drove
this performance, growing 21% year-over-year and demonstrating our ability to accelerate growth even as we operate
at a much larger scale. Our momentum is strongest with our largest customers: we ended the year with 3,194 $100K+
ARR customers, representing $1.2B of total ARR.
It   s clear that Samsara is uniquely positioned to help digitize the world of physical operations   a collection of diverse
industries including construction, transportation and logistics, utilities, and field services that together make up more
than 40% of the world's GDP. At the heart of our competitive advantage is our proprietary data asset   information that
simply isn't found on the internet. From dashcam imagery captured daily across hundreds of millions of miles of
roads to specific maintenance inspection workflows and service routes, we now have more than 25 trillion data points
flowing through our platform annually. This data fuels a powerful network effect: as we add more customers and
assets, our AI models become more insightful for everyone on the platform, creating a compounding advantage that
is difficult to replicate.
We see the transformation of physical operations occurring in three distinct phases. First, we connect operations to
the cloud using IoT hardware, bringing real-time data like video, GPS locations, and sensor readings into a single
system   replacing legacy silos and paper logs. Second, we apply purpose-built AI to that unified data to surface
actionable insights that were previously unattainable, such as predicting asset breakdowns by comparing sensor data
against tens of thousands of similar assets, or benchmarking an organization's safety and efficiency against industry
peers. Third, and most exciting, we are now building AI agents that go beyond insights to automate entire workflows   
shifting the paradigm from telling our customers what to do, to doing it for them.
This year, we entered a new chapter in our journey with the launch of our very first AI agent, the AI Safety Coach. It
autonomously analyzes safety risks and takes action to coach frontline workers, delivering real-time voice coaching in
the cab, personalized end-of-week reviews, and dynamically adjusted safety alerts based on conditions like weather.
This represents a fundamental shift   from providing insights that require a human to interpret and act, to delivering
automated outcomes. Beyond safety, our roadmap includes a suite of specialized AI agents for compliance,
maintenance, and dispatching, designed to act as force multipliers that enable our customers to scale operations
without the traditional linear increase in administrative costs.
The opportunity ahead of us is significant. Physical operations are the backbone of our global economy, and we are
still in the early stages of a multi-decade digitization effort. By continuing to invest in innovation, expand our platform,
and partner closely with our customers, we believe we can drive durable growth and create substantial long-term
value for all of our stakeholders.
Thank you for your continued confidence and support as we build the future of connected operations.
Sincerely,
Sanjit Biswas
Chief Executive Officer and Co-Founder
FY26 | 1


shareholder letter icon 6/1/2026 Letter Continued (Full PDF)
 

IOT Stockholder/Shareholder Letter (Samsara Inc.) | www.StockholderLetter.com
Copyright © 2023 - 2026, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.