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Samsara’s 3,605 Large Customers — Can Upmarket Expansion Drive The Next Phase?

Samsara, a provider of Internet of Things (IoT) hardware and software aimed at digitizing physical operations, reported its second quarter fiscal 2027 results showing continued growth and operational leverage. The company achieved $2.1 billion in annual recurring revenue (ARR), a 30% year-over-year increase driven by $134 million in net new ARR, itself growing 28% year-over-year. Growth was largely fueled by large customers, with the number of customers generating $100,000 or more in ARR reaching 3,605—adding a quarterly record 242—and those with $1 million-plus in ARR increasing by 20, also a record. These large customers accounted for 63% of total ARR, up from 59% a year earlier. Samsara highlighted the expansion of product adoption within existing customers, with 96% of $100,000-plus customers subscribing to two or more products and 72% to three or more, supporting a dollar-based net retention rate of approximately 115%.