IOT Q3 FY25

Based on the financial data as of August 3, 2024, Samsara (stock code: IOT) generated an operating revenue of RMB300,202,000 and a net loss of RMB49,610,000 during the financial period. This indicates that the company faced significant losses during the current financial cycle, and the available data also limits a deep analysis of the year-on-year changes.

## Key Financial Data

1. Operating Revenue Issue: Operating revenue was RMB-58,194,000, indicating possible losses due to sales returns, discounts, or other factors.

2. High Cost Structure: Marketing, sales, and general management expenses totaled RMB208,555,000, significantly compressing the company's profitability and becoming a major factor in the net loss.

3. R&D Investment: R&D expenses amounted to RMB76,476,000, although necessary investments for future development, put pressure on the company's financial situation in the short term.

4. Total Comprehensive Income: Total comprehensive income was RMB-48,034,000, reflecting losses in the company's overall economic activities, which may affect future investor confidence.

# Industry Comparison

1. Industry-wide Analysis: In the current market environment, the technology industry generally faces sales pressure, and the uncertainty in market demand forces many companies to lower prices to maintain their market share, negatively affecting operating revenue.

2. Peer Evaluation Analysis: If Samsara's operating revenue is lower than other companies in the industry, especially those that can effectively control costs, it may be at a disadvantage in the market, affecting its ability to attract investors.

# Conclusion

Overall, Samsara's performance in the current financial cycle is not ideal, especially the negative operating revenue and net loss, indicating the company's double challenges in revenue growth and cost control. Although operating revenue grew in 2024, the high expenses and R&D expenses make it difficult for the company to achieve profitability in the short term.

# Opportunities

1. Cost Control: If Samsara can effectively control sales and management expenses, reduce unnecessary expenses, it may improve its profitability.

2. Market Expansion: Based on the growth in sales, if the company can optimize its sales strategy and attract more customers, it may bring further revenue growth.

3. R&D Conversion: Active R&D investment may convert into new products and services in the future, opening up new revenue sources.

# Risks

1. Continuous Losses: If the company fails to improve its financial situation in the short term, continuous net losses may affect investor confidence, leading to further stock price declines.

2. Intensified Competition: In a competitive environment, if it fails to effectively enhance its market share, it may lead to further declines in operating revenue.

3. Dependence on Financing: Continuous losses may force the company to rely on external financing to maintain operations, increasing financial risks.

In summary, the challenges Samsara currently faces mainly focus on cost control and market competition, but through effective strategies, the company still has opportunities to improve its financial situation.