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| And lastly, while year-over-year ARR growth for both Video-Based Safety and Vehicle Telematics accelerated sequentially in Q4 at a larger scale, we also saw strength in emerging products that provide additional expansion opportunities within our existing customer base |
| In Q4, Glassdoor recognized Samsara as one of the Best Places to Work in 2024, and we are thrilled to have received many Best Places to Work recognitions throughout the year |
| Our momentum reflects the continued strength of our platform and the large market opportunity ahead of us |
| These results deliver clear ROI to our customers |
| This was also the fourth consecutive quarter year-over-year net new ARR growth accelerated compared to the same period of the prior year at a larger scale |
| We feel good about the customer demand |
| Several factors drove our strong top-line performance in Q4 |
| And last, our increasing scale and strong unit economics, drive operational efficiency |
| While we're still in the early innings of our customers' digitization journeys, we are proud of our progress and impact so far |
| You had an exceptionally strong quarter on the gross margin line |
| It was an exciting quarter and year, delivering on our mission to increase the safety, efficiency, and sustainability of the operations that power the global economy |
| And our large customer momentum continues to fuel our growth |
| You highlighted in the prepared remarks, the really big renewal that happened kind of one quarter -- really big expansion one quarter after a new customer was signed, and I mean the velocity there is really impressive |
| We surpassed $1 billion in ARR at 39% year-over-year growth, became adjusted free cash flow positive, and consistently achieve Rule of 40 in all four quarters |
| And we've had some success in industries like public sector this year that we've called out |
| Congrats on just an amazing quarter and an amazing year |
| We are proud of this milestone year |
| And so, I think many of our customers, our larger customers, will rollout overtime and that allows us to have confidence in durable upsell growth |
| So, it was a very strong Telematics and Safety quarter |
| Q4 was another quarter of sustained high-growth at scale; ending ARR was $1.1 billion and we added a quarterly record $99 million of net new ARR or an increase of 39% year-over-year, our highest growth rate over the past 10 quarters |
| As I said in my prepared remarks also, Q4 was the highest net new ARR growth that we've seen in the last 10 quarters |
| In FY '24, we added $307 million of incremental ARR, grew at 30% year-over-year, that's an acceleration from 9% net new ARR growth in FY '23, and obviously had a much larger scale |
| We now have 82 $1 million-plus ARR customers, a quarterly record increase of 11, representing 61% year-over-year growth, accelerating from 54% growth last quarter at a larger scale |
| I offer my congrats as well, really strong year here |
| Third, we continued to demonstrate strong execution across several frontier markets |
| Both regions added a record number of $100,000-plus ARR customers and accelerated year-over-year ARR growth sequentially and compared to Q4 last year at a larger scale |
| And so, again, we feel good heading into FY '25 |
| Accelerating net new ACV growth growing only almost 40% in the net new component |
| With our large markets, products and customer focus, we are well positioned to continue delivering durable and efficient growth |
| Samsara's FY '24 was another year of durable and efficient growth |
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| They have a lot of real world operational challenges and problems |
| At the same time, I would just want to reiterate that we do recognize that there is macro uncertainty that could have an impact on future demand |
| As a result, our FY '25 guidance philosophy will be less conservative than it was in FY '24 |
| Our non-core customers with less than $10,000 of ARR, represents just 8% of total ARR mix, down from 14% two years ago, and we expect this mix to continue declining over time |
| The macroenvironment doesn't seem that much better |
| This is the same exact framework we apply to our initial FY '24 guidance at the beginning of last year, which was also less conservative than our initial FY '23 guide the prior year |
| I would say the Video-Based Safety application where we are in the vehicle, is, relatively speaking, underpenetrated |
| And one of those points of consolidation you mentioned was a displacement of an enterprise mobility management solution |
| In a pilot with Samsara, USIC reduced mobile phone usage by 92%, no seatbelt usage by 85%, and rolling stops by 50% |
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