Why Samsara (IOT) Shares Are Trading Higher Today - Samsara (NYSE:IOT)

Samsara Inc IOT reported third-quarter revenue growth of 49% year-on-year to $169.8 million, beating the consensus of $155.4 million.
Samsara's ARR of $723.7 million represented 47% Y/Y growth.
Samsara ended Q3 with 1,113 customers with ARR over $100,000, up 56% Y/Y.
Non-GAAP gross margin expanded 200 bps to 74%.
Non-GAAP operating margin loss improved by 1,600 bps to (10)%.
Non-GAAP EPS loss of $(0.02) beat the consensus loss of $(0.06).
Samsara used $(14.9) million in adjusted free cash flow.
Samsara sees Q4 revenue of $170 million – $172 million (vs. consensus $161.3 million), non-GAAP EPS loss of $(0.05) – $(0.06) (vs. consensus loss $(0.06)).
Samsara boosted FY23 revenue to $636 million – $638 million, up from the prior $610 million - $614 million (vs. consensus $612.9 million), non-GAAP EPS loss to $(0.16) – $(0.17), up from prior $(0.23) - $(0.21) (vs. consensus loss $(0.21)).
Price Action: IOT shares traded higher by 26.77% at $12.55 in the premarket on the last check Friday.
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Samsara Stock Jumps On Q3 Beat, FY23 Outlook Boost