Samsara sold more, spent more, and finally made money over the six months ended August 1. The company moved from a $16.8 million net loss to $16.2 million of net income, while operating cash flow rose 50.8% to $154.9 million.
That is the clean read. Revenue grew 30% to $987.3 million, gross margin edged up to 77.2%, and operating margin crossed from negative to 1.0%. The less tidy line sits below the income statement: accounts receivable grew 37.3% to $337.8 million, faster than sales.
Samsara attributed the revenue increase to both new customers and larger purchases from existing ones.
"Revenue increased by $117.0 million and $228.9 million, or 30%, for the three and six months ended August 1, 2026, respectively, compared to the three and six months ended August 2, 2025, primarily due to growth in new customers and increased purchases by existing customers."
Samsara, 10-Q, September 8, 2026
The business is still expanding at a substantial rate, and the cash register is keeping up for now. The open question is how much of that growth had been collected by the reporting date. Samsara does not disclose the reason for the faster receivables growth in these facts, so the balance-sheet movement is an observation, not an explanation.
The path to profit also required heavier investment. Sales and marketing expense rose 24% over the six months, mainly from higher employee-related costs and commissions, while research and development increased 19%. Cost of revenue rose 34%, including higher cloud, cellular, connected-device, and employee-related costs. Gross margin barely moved because revenue grew alongside those costs.
Management specifically pointed to AI infrastructure and software spending inside research and development.
"Research and development expense increased by $31.3 million, or 19%, for the six months ended August 1, 2026 compared to the six months ended August 2, 2025, primarily due to a $12.8 million increase in costs associated with software subscriptions, a $10.8 million increase in platform costs driven by investments in AI tooling and related development infrastructure, and a $10.1 million increase in employee-related costs primarily due to higher stock-based compensation expense."
Samsara, 10-Q, September 8, 2026
That spending has not erased operating leverage. Research and development fell to 20% of revenue from 22%, and sales and marketing declined to 43% from 45%. But stock compensation rose 18.8% to $96.4 million, and diluted shares increased 3.3% to 590.5 million. Profit arrived with a larger share count attached to it.
The annual record supplies some context without settling the balance-sheet question. Samsara’s operating margin improved from negative 15.2% in fiscal 2025 to negative 3.2% in fiscal 2026; the latest six-month period pushed that measure just above zero. The company is getting closer to turning scale into operating income, while continuing to fund product development and sales expansion.
At the latest close, Samsara was valued at $22.7 billion on an enterprise-value basis, or 14.0 times annual sales. That puts the filing’s central trade-off in plain view: the business is growing quickly enough to produce cash and a small operating profit, but the balance sheet is carrying more unpaid customer revenue and the share count is still rising. Samsara’s next quarterly report will add the next comparison for accounts receivable against revenue and operating cash flow.
More growth, more cash, and a receivables balance growing faster than both: Samsara’s six-month trade-off in filing form.