Samsara Inc (NYSE: IOT) is a connected operations technology company that provides a cloud-based platform combining IoT devices, cellular connectivity, and software applications for physical operations management. Revenue comes almost entirely from subscriptions, approximately 98% of total revenue in each of the two fiscal years ended January 31, 2026 and February 1, 2025, priced on a per asset, per application basis with initial contract terms typically spanning three to five years that are generally non-cancelable and non-refundable. Samsara competes in fleet telematics, AI video safety, asset tracking, and facilities monitoring against vendors including Geotab, Motive, Lytx, Verizon Connect, and Omnitracs, among others. As of January 31, 2026, approximately 61% of ARR came from customers with more than $100,000 in ARR, and the count of such customers grew from 2,484 as of February 1, 2025 to 3,194 as of January 31, 2026. Switching costs are embedded through multi-year non-cancelable contracts, deep integration into existing operational infrastructure, and multi-application adoption, with more than 95% of large customers using two or more applications as of January 31, 2026.

Revenue model

Subscription revenue, approximately 98% of total revenue in each of the two fiscal years ended January 31, 2026 and February 1, 2025. Subscriptions are priced per asset per application. Each subscription bundles IoT hardware data collection, cellular connectivity, cloud application access, APIs, customer support, and warranty coverage. Contracts typically run three to five years and are generally non-cancelable and non-refundable.

Products and services

Connected Operations Platform including applications for AI Video-Based Safety, Telematics, Asset Tracking, Routing, Commercial Navigation, Maintenance, Connected Training, Connected Forms, and Site Visibility. Hardware includes vehicle gateways with 4G LTE and dual-SIM connectivity, cameras, and sensors. Platform also includes the Samsara App Marketplace and third-party device integrations.

Customers and end markets

Physical operations customers across fleet, facilities, and industrial end markets. As of January 31, 2026, 3,194 customers had more than $100,000 in ARR, representing approximately 61% of total ARR. Large customers predominantly adopt multiple applications, with more than 95% using two or more and approximately 70% using three or more as of January 31, 2026. Customer definition covers entities or groups of affiliated entities with shared parent organizations having ARR above $1,000.

Value-chain role

Vertically integrated platform provider supplying IoT hardware, cellular connectivity, and cloud software directly to end operators of physical assets. Sits between telecom networks and enterprise operations software, aggregating sensor and vehicle data into a centralized cloud dashboard.

Geographic exposure

Primary operations within the continental United States, with cellular connectivity configurations designed for coverage including remote locations. International markets referenced as areas of expanding go-to-market activity, but specific revenue splits by geography are not disclosed in the excerpts.

Competitors

Avigilon, CalAmp, Fleet Complete, Geotab, Lytx, Masternaut, Michelin, Motive, Nauto, Netradyne, Omnitracs, Orbcomm, Platform Science, Skybitz, Spireon, TrackUnit, Verizon Connect, Webfleet, Zonar

Source: SEC 10-K, filed 2026-03-16

Industry: Services-Computer Integrated Systems Design Peers: Confluent, Inc. Dropbox Inc Five9 Inc HashiCorp, Inc. Informatica Inc. Procore Technologies Inc Qualtrics International Inc. Salesforce Inc