WASHINGTON (dpa-AFX) - Samsara Inc. (IOT) on Thursday reported a swing to profit in the first quarter, driven by strong growth in revenues.
The company reported net income of $44.5 million, or $0.08 per share, compared with a net loss of $22.1 million, or $0.04 per share, in the prior-year period.
Adjusted net income rose to $98.0 million, or $0.17 per share, from $62.2 million, or $0.11 per share, a year earlier.
For the first quarter, revenue increased 31% year-over-year to $478.8 million from $366.9 million. Revenue adjusted for constant currency rose 29% to $473.7 million.
Gross margin was 75%, compared to 77% a year ago.
For the second quarter, Samsara expects revenue of $482 million to $484 million and adjusted earnings of $0.15 to $0.16 per share.
For fiscal 2027, the company projects revenue of $2.005 billion to $2.013 billion, representing approximately 24% growth, and expects adjusted earnings of $0.70 to $0.72 per share.
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