SAN FRANCISCO - Samsara Inc. (NYSE: NYSE:IOT) reported better-than-expected third quarter results and raised its full-year outlook, but shares tumbled 10.47% in after-hours trading Thursday as investors appeared to focus on slowing revenue growth.
The Internet of Things company posted adjusted earnings per share of $0.07 for the quarter ended November 2, beating analyst estimates of $0.04. Revenue grew 36% YoY to $322 million, surpassing the consensus forecast of $310.57 million.
"We achieved another strong quarter of durable and efficient growth at a greater scale," said Sanjit Biswas, CEO and co-founder of Samsara.
However, the 36% revenue growth marked a deceleration from 43% growth in the previous quarter. Annual recurring revenue reached $1.35 billion, up 35% YoY.
For fiscal 2025, Samsara raised its adjusted EPS guidance to $0.22-$0.23, up from its previous outlook of $0.17-$0.19 and above analyst expectations of $0.17. The company also lifted its full-year revenue forecast to $1.237-$1.239 billion, compared to the consensus estimate of $1.23 billion.
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