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Can Multiproduct Adoption and Large Customers Drive Samsara's ARR?
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Key Takeaways
IOT ended fiscal 2026 with ARR of $1.89B, up 30%, led by large enterprise adoption.
Samsara's $100K ARR customers grew 37% to $1.2B, with 204 additions in Q4.
IOT saw 96% of $100K ARR customers use at least two products across its platform.
Samsara’s (IOT - Free Report) latest fiscal 2026 results show that this strategy is resonating with customers. Samsara ended the year with annual recurring revenues (ARR) of $1.89 billion, up 30% year over year. Net new ARR reached $432 million for the full year, rising 21%, while fourth-quarter net new ARR climbed 33% to $144.8 million. Revenues also remained strong, rising 28% in the fourth quarter to $444.3 million and 30% for the full year to $1.62 billion.
Samsara’s strong performance is driven by growing adoption among large enterprises. These customers often operate complex fleets, industrial assets and frontline workforces, making them a natural fit for a platform that can unify safety, maintenance, routing and asset visibility. At the end of fiscal 2026, Samsara had 3,194 customers with more than $100,000 in ARR, including 204 additions in the fourth quarter alone. ARR from these customers rose 37% year over year to $1.2 billion.
Even more encouraging is the company’s traction with its largest accounts. ARR from customers contributing more than $1 million annually grew 56% year over year in the fourth quarter. During the quarter, Samsara signed a record 13 deals worth more than $1 million in net new annual contract value. This signals that the company is not only adding customers, but also deepening relationships with major enterprises that are expanding their use of the platform.
Samsara is also seeing strong multiproduct adoption. About 96% of customers with more than $100,000 in ARR now use at least two products, while 69% use three or more. Nine of the top 10 net new ACV deals in the fourth quarter included two or more products. That trend matters because it shows the platform is becoming more embedded in day-to-day operations rather than being used for a single point solution.
Offerings launched over the last two years accounted for 23% of net new ACV in the fourth quarter, showing that customers are responding to the company’s broader product expansion. These products include AI Multicam, Connected Asset Maintenance, Asset Tags, Commercial Navigation, Qualifications, Routing, Training and Connected Workflows. Samsara processes more than 25 trillion data points annually, up sharply from 14 trillion in fiscal 2025, 9 trillion in fiscal 2024 and 6 trillion in fiscal 2023, implying greater usage of its offerings.
How Competitors Fare Against Samsara
Samsara operates in a highly competitive market. Players include Motive, Lytx, Verizon (VZ - Free Report) , Trimble (TRMB - Free Report) and Geotab in the vehicle telematics space. To compete with these companies, Samsara is investing heavily in its operations, such as sales and marketing and research and development.
Verizon offers products like Connect Reveal, Connect Fleet and Connect Asset Tracking to address GPS fleet tracking, driver behavior monitoring, compliance and reporting for enterprise fleet management, equipment and trailer tracking. Trimble offers Fleet Management, Asset Tracking and Transportation Management System, coming head-on with Samsara’s offerings. Samsara still bets on the video telematics market, which is underpenetrated. However, Trimble Video Intelligence and Verizon’s dashcams & AI video telematics pose a threat to it.
IOT’s Price Performance, Valuation and Estimates
Shares of Samsara have lost 13.7% year to date against the Zacks Computer and Technology sector’s growth of 16%.
Samsara YTD Performance Chart
Image Source: Zacks Investment Research
From a valuation standpoint, Samsara trades at a forward price-to-sales ratio of 8.57X, lower than the industry’s average of 3.72X.
IOT Forward 12-Month (P/S) Valuation Chart
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Samsara’s fiscal 2027 and 2028 earnings implies year-over-year growth of 21.4% and 23.5%, respectively. The estimates for fiscal 2027 and 2028 have remained unchanged in the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
Can Multiproduct Adoption and Large Customers Drive Samsara's ARR?
Key Takeaways
Samsara’s (IOT - Free Report) latest fiscal 2026 results show that this strategy is resonating with customers. Samsara ended the year with annual recurring revenues (ARR) of $1.89 billion, up 30% year over year. Net new ARR reached $432 million for the full year, rising 21%, while fourth-quarter net new ARR climbed 33% to $144.8 million. Revenues also remained strong, rising 28% in the fourth quarter to $444.3 million and 30% for the full year to $1.62 billion.
Samsara’s strong performance is driven by growing adoption among large enterprises. These customers often operate complex fleets, industrial assets and frontline workforces, making them a natural fit for a platform that can unify safety, maintenance, routing and asset visibility. At the end of fiscal 2026, Samsara had 3,194 customers with more than $100,000 in ARR, including 204 additions in the fourth quarter alone. ARR from these customers rose 37% year over year to $1.2 billion.
Even more encouraging is the company’s traction with its largest accounts. ARR from customers contributing more than $1 million annually grew 56% year over year in the fourth quarter. During the quarter, Samsara signed a record 13 deals worth more than $1 million in net new annual contract value. This signals that the company is not only adding customers, but also deepening relationships with major enterprises that are expanding their use of the platform.
Samsara is also seeing strong multiproduct adoption. About 96% of customers with more than $100,000 in ARR now use at least two products, while 69% use three or more. Nine of the top 10 net new ACV deals in the fourth quarter included two or more products. That trend matters because it shows the platform is becoming more embedded in day-to-day operations rather than being used for a single point solution.
Offerings launched over the last two years accounted for 23% of net new ACV in the fourth quarter, showing that customers are responding to the company’s broader product expansion. These products include AI Multicam, Connected Asset Maintenance, Asset Tags, Commercial Navigation, Qualifications, Routing, Training and Connected Workflows. Samsara processes more than 25 trillion data points annually, up sharply from 14 trillion in fiscal 2025, 9 trillion in fiscal 2024 and 6 trillion in fiscal 2023, implying greater usage of its offerings.
How Competitors Fare Against Samsara
Samsara operates in a highly competitive market. Players include Motive, Lytx, Verizon (VZ - Free Report) , Trimble (TRMB - Free Report) and Geotab in the vehicle telematics space. To compete with these companies, Samsara is investing heavily in its operations, such as sales and marketing and research and development.
Verizon offers products like Connect Reveal, Connect Fleet and Connect Asset Tracking to address GPS fleet tracking, driver behavior monitoring, compliance and reporting for enterprise fleet management, equipment and trailer tracking. Trimble offers Fleet Management, Asset Tracking and Transportation Management System, coming head-on with Samsara’s offerings. Samsara still bets on the video telematics market, which is underpenetrated. However, Trimble Video Intelligence and Verizon’s dashcams & AI video telematics pose a threat to it.
IOT’s Price Performance, Valuation and Estimates
Shares of Samsara have lost 13.7% year to date against the Zacks Computer and Technology sector’s growth of 16%.
Samsara YTD Performance Chart
Image Source: Zacks Investment Research
From a valuation standpoint, Samsara trades at a forward price-to-sales ratio of 8.57X, lower than the industry’s average of 3.72X.
IOT Forward 12-Month (P/S) Valuation Chart
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Samsara’s fiscal 2027 and 2028 earnings implies year-over-year growth of 21.4% and 23.5%, respectively. The estimates for fiscal 2027 and 2028 have remained unchanged in the past 60 days.
Image Source: Zacks Investment Research
Samsara currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.