breaking

Samsara Lifts Outlook on Infrastructure Investment Surge

Fleet telematics provider Samsara raised its full-year guidance Wednesday after posting stronger-than-expected results driven by a surge in infrastructure spending. The company reported first-quarter revenue of $479 million, up 31% year-over-year, as data center construction and grid modernization projects boosted demand. Samsara now projects full-year revenue of $2.013 billion, representing 24% growth versus its prior 21-22% forecast. The San Francisco-based firm secured 11 contracts exceeding $1 million during the quarter and counts 190 customers spending over $1 million annually. Adjusted earnings per share reached 17 cents, prompting the company to raise full-year EPS guidance to 70-72 cents. Samsara added $101 million in annual recurring revenue during the period as its largest customers scale operations to support the global infrastructure buildout.