What they do. Samsara “allows businesses that depend on physical operations to harness IoT data to develop actionable business insights and improve their operations. Using our Connected Operations Cloud, customers can visualize their physical operations in real-time. Our ability to capture, aggregate and analyze IoT data is our key differentiator.”
Really long contracts. “long contract lengths, which typically span three to five years. We bill monthly, quarterly, annually, or in advance, depending on the specifics of each contract.”
International is still small, but industries are diverse. “we have a growing international presence, with approximately 10% of our ARR generated from outside of the United States. Our industry-agnostic approach and the horizontal applicability of our solution have enabled us to deploy our platform to a diverse set of industries”
LTV is strong. “We calculate the lifetime value, or LTV, of our customer relationships as of a measurement date by dividing (i) the product of our adjusted gross margin for the trailing twelve months, which excludes stock-based compensation expense, compensation resulting from tender offers, and restructuring and related charges, and the difference between our Current Period ARR and Prior Period ARR by (ii) the weighted average of the percentage of our ARR that did not renew in each quarter over the trailing four quarters. We calculate our customer acquisition costs, or CAC, as our adjusted sales and marketing expense, which excludes stock-based compensation expense, compensation resulting from tender offers, and restructuring and related charges. We estimate that for each of the last eleven fiscal quarters, our LTV:CAC ratio was at least 8x, which we believe is indicative of the state of our business and unit economics for the foreseeable future.”
Customer feedback drives the roadmap. “By leveraging our customer-centric innovation flywheel, we are able to continuously build new Applications and release new features for our customers based on their direct feedback.”
$25mm Series A and nearly $1bln of equity. Welp, that’s one way to do it.
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