Samsara jumps after raising annual forecast

Samsara (Pre-Reincorporation)

04/09/2025 23:16

** Shares of software firm Samsara IOT.N jump 10% to $39.46 in extended trade

** IOT raises expectations for FY26 total revenue and adjusted profit per share

** Q2 revenue soared 30% to $391.5 million from a year earlier

** Rise of the AI-driven economy is amplifying demand for company's platform - CEO Sanjit Biswas

** San Francisco-based company, which provides GPS fleet tracking and Wi-Fi hotspot services, ended the second quarter with 2,771 customers generating annual recurring revenue of over $100,000, up from 2,120 a year ago

** Twelve of 20 brokerages rate the stock "buy" or higher and eight "hold"; median PT $46.50, according to data compiled by LSEG

** As of last close, IOT shares down 18% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))