Samsara Inc (IOT) 2023 Q1 法說會逐字稿

Good afternoon, and welcome to Samsara's First Quarter Fiscal 2023 Earnings Call. I'm Mike Chang, Samsara's Vice President of Corporate Development and Investor Relations. Joining me today are Samsara Co-Founder and Chief Executive Officer, Sanjit Biswas; and our Chief Financial Officer, Dominic Phillips.

下午好，歡迎參加Samsara 2023財年第一季財報電話會議。我是Samsara企業發展和投資者關係副總裁Mike Chang。今天與我一同出席的還有Samsara聯合創辦人兼執行長Sanjit Biswas，以及我們的財務長Dominic Phillips。

In addition to our prepared remarks on this call, additional information can be found in our shareholder letter, press release, investor presentation and SEC filings on our Investor Relations website at investors.samsara.com. The matters we'll discuss today include forward-looking statements. Actual statement -- actual results may differ materially from those contained in the forward-looking statements. Any forward-looking statements that we make on this call are based on assumptions as of today, June 2, 2022, and we undertake no obligation to update these statements as a result of new information or future events, unless required by law.

除了我們在本次電話會議上的準備發言稿外，您還可以在我們的投資者關係網站 investors.samsara.com 上的股東信函、新聞稿、投資者介紹和美國證券交易委員會 (SEC) 文件中找到更多資訊。我們今天將討論的事項包含前瞻性陳述。實際陳述－實際結果可能與前瞻性陳述中的結果有重大差異。我們在本次電話會議上所做的任何前瞻性陳述均基於截至今天（2022 年 6 月 2 日）的假設，除非法律要求，否則我們不承擔因新資訊或未來事件而更新這些陳述的義務。

During today's call, some of our discussions will include our first quarter fiscal 2023 financial results. We'd like to point out that the company reports non-GAAP results in addition to and not as a substitute for or superior to financial measures calculated in accordance with GAAP. All financial figures we will discuss today are non-GAAP, except for revenues and revenue growth. Reconciliations of GAAP to non-GAAP financial measures are provided with our press release and investor presentation.

在今天的電話會議中，我們將討論2023財年第一季的財務表現。需要指出的是，本公司報告的非公認會計準則（Non-GAAP）績效是對公認會計準則（GAAP）財務指標的補充，而非替代或優於公認會計準則（GAAP）計算的財務指標。今天我們將討論的所有財務數據均為非公認會計準則（Non-GAAP），收入和收入成長除外。我們將在新聞稿和投資者簡報中提供公認會計準則（GAAP）與非公認會計準則（Non-GAAP）財務指標的對帳表。

We'll make opening remarks, dive into highlights for Q1 and then open up the call for Q&A. With that, I'll hand the call over to Sanjit.

我們將致開幕詞，深入探討第一季的亮點，然後進入問答環節。之後，我將把電話交給 Sanjit。

Thanks, Mike, and thank you, everyone, for joining us today. We had a strong start to the year, surpassing $600 million of ARR in just the seventh year since our founding. This represents 59% year-over-year growth and is a great milestone for the company as we continue to grow at scale. We also surpassed 15,000 core customers and continue to see exceptional growth in our $100,000-plus ARR customers. This segment now represents approximately 900 customers spanning various industries. It includes the addition of Coach USA, Oklahoma City, a major United States provider of automotive, travel and financial services and 2 Fortune 500 customers, one of the largest home improvement retailers in the United States and one of the world's top 10 global retailers.

謝謝麥克，也謝謝各位今天加入我們。我們今年開局強勁，成立僅七年，年度經常性收入 (ARR) 就突破了 6 億美元。這代表著 59% 的年成長，對於公司持續擴張規模而言，這是一個重要的里程碑。此外，我們的核心客戶數量也超過了 1.5 萬家，而 ARR 超過 10 萬美元的客戶數量也持續保持顯著成長。目前，該細分市場擁有約 900 家來自不同行業的客戶，其中包括美國主要的汽車、旅遊和金融服務提供商 Coach USA（俄克拉荷馬城分公司）和兩家《財富》500 強客戶，後者是美國最大的家居裝飾零售商之一，也是全球十大零售商之一。

Samsara is operating at a scale, and it's hard to replicate. The amount of IoT data we process in our Connected Operations Cloud more than doubled last year to about 4.6 trillion data points. In addition, API calls grew to 33 billion last year, an increase of more than 4x year-over-year. We use this massive amount of data to regularly train our AI models and enhance our benchmarking data.

Samsara 的營運規模龐大，難以複製。去年，我們在互聯營運雲端中處理的物聯網資料量成長了一倍多，達到約 4.6 兆個資料點。此外，API 呼叫量去年成長至 330 億次，較去年同期成長超過 4 倍。我們利用這些海量資料定期訓練我們的 AI 模型，並增強基準資料。

Our year-over-year growth speaks to Samsara's integral role in supporting digital transformation and physical operations. Our customers provide mission-critical services to keep our planet running and represent over 40% of global GDP. Now more than ever, they're investing in digital technology to streamline operations and increase efficiencies, and we are here to help.

我們逐年的成長證明了 Samsara 在支持數位轉型和實體營運方面發揮的重要作用。我們的客戶提供關鍵任務服務，保障地球的正常運轉，產值佔全球 GDP 的 40% 以上。如今，他們比以往任何時候都更積極地投資數位技術，以簡化營運流程並提高效率，而我們隨時準備提供協助。

Our customers come from every segment of the world of physical operations. They help keep the world running, whether it's constructing infrastructure, maintaining utilities, clearing snow off the streets or managing the global supply chain. Many have been around for over half a century and weathered challenging cycles in the past. Today, the world is facing particularly challenging macro environment with inflation, rising interest rates, tightening supply chains, tight labor markets and geopolitical uncertainty. These challenges represent Samsara's biggest opportunities to add value for our customers. We are proud to partner with our customers to use data to mitigate cost challenges, including labor inefficiencies, asset and fuel inefficiencies, insurance costs, compliance, safety and emissions.

我們的客戶遍佈全球實體營運的各個領域。他們幫助維持世界運轉，無論是建造基礎設施、維護公共設施、清理街道積雪或管理全球供應鏈。許多客戶已運營超過半個世紀，並在過去經歷了多個充滿挑戰的周期。如今，世界正面臨著特別嚴峻的宏觀環境，包括通貨膨脹、利率上升、供應鏈緊縮、勞動市場緊張以及地緣政治不確定性。這些挑戰為Samsara帶來了為客戶增值的最大機會。我們很榮幸能與客戶合作，利用數據來緩解成本挑戰，包括勞動力效率低下、資產和燃料效率低下、保險成本、合規性、安全和排放。

Using the Samsara Connected Operations Cloud, our customers are seeing their investment return several times over. Let me share 3 examples. First, GP Transco is a trucking logistics company with over 400 drivers, 410 tractors and 550 trailers. They use Samsara to improve fuel efficiency and reduce vehicle idling by 35%. They've saved an estimated 205,000 gallons of fuel. That's over $350,000 in savings. GP Transco used these savings to fund driver pay increases and bonus programs, giving them a competitive edge in this market.

使用 Samsara 互聯營運雲，我們的客戶獲得了數倍的投資回報。我來分享三個例子。首先，GP Transco 是一家卡車物流公司，擁有 400 多名司機、410 輛牽引車和 550 輛拖車。他們使用 Samsara 提高了燃油效率，並將車輛空轉率降低了 35%。據估計，他們節省了 20.5 萬加侖燃油，相當於節省了超過 35 萬美元。 GP Transco 利用這些節省的資金來增加司機的薪水和獎金，從而在市場上佔據了競爭優勢。

Second, Heniff Transportation Systems, a leader in liquid bulk transportation, is using our Video-Based Safety with 1,800 drivers and Site Visibility across our 80 terminal locations nationwide. They're proactively coaching drivers and employees to reduce spend on insurance claims. Heniff estimates a 50% reduction in liabilities because of our technologies.

其次，液體散裝運輸領域的領導者亨尼夫運輸系統 (Heniff Transportation Systems) 正在全國 80 個終端站點使用我們的視訊安全系統，為 1800 名駕駛提供現場可視性服務。他們正在積極指導司機和員工減少保險理賠支出。亨尼夫預計，我們的技術將使責任減少 50%。

And third, UFP Industries, the leading manufacturer and distributor of wood products, is using the Connected Operations Cloud to streamline worker productivity. They wanted to improve operational visibility, driver safety and customer service. Our solutions are used in 350 private fleet trucks to complete over 200,000 deliveries a year. By going paperless with Samsara, UFPI estimates they saved $600,000 annually.

第三，領先的木製品製造商和經銷商 UFP Industries 正在使用 Connected Operations Cloud 來簡化員工生產力。他們希望提高營運可視性、駕駛員安全性和客戶服務。我們的解決方案已應用於 350 輛私人車隊卡車，每年完成超過 20 萬次配送。透過與 Samsara 合作實現無紙化辦公，UFPI 估計他們每年節省了 60 萬美元。

These examples show how Samsara's Connected Operations Cloud is being used by our customers to improve worker productivity, streamline their operations and reduce their cost tax. It's these kinds of cost savings that are helping our customers combat inflation and maintain competitive footholds in their industries.

這些範例展示了我們的客戶如何利用 Samsara 的互聯營運雲端來提高員工生產力、簡化營運流程並降低成本稅。正是這些成本節約幫助我們的客戶抵禦通貨膨脹，並在其行業中保持競爭優勢。

As you may have seen in April, we released our inaugural ESG report. In it, we share how we're building a safer and more sustainable world through our customers' operations and our own. Our customers are vitally important to the global economy. Small shifts in their operations can dramatically reduce their environmental impact and improve the lives of employees. With over 4 trillion data points captured last year alone, Samsara is uniquely positioned to impact our customers' ESG goals, especially around emissions reporting, worker safety and efficiency.

正如您可能在四月看到的，我們發布了第一份 ESG 報告。在報告中，我們分享瞭如何透過客戶和我們自身的運營，建立一個更安全、更永續的世界。我們的客戶對全球經濟至關重要。他們營運中的細微變化就能顯著減少對環境的影響，並改善員工的生活。光是去年，Samsara 就捕獲了超過 4 兆個數據點，在推動客戶實現 ESG 目標方面擁有獨特的優勢，尤其是在排放報告、工人安全和效率方面。

Take Summit Materials, a leading construction materials company. Their goal is to be the most socially responsible provider in the market and achieve net zero emissions by 2050. To achieve the goals outlined in their ESG report, they needed more reliable data and deeper visibility across their operations. Summit is using Samsara's Vehicle Telematics, Video-Based Safety and Site Visibility. With Samsara, they expect to save approximately $1 million per year in fuel costs. That's a reduction of more than 2,000 tons of CO2 emissions or over 175,000 gallons of fuel. They also saw a 33% decrease in preventable vehicle accidents in 1 year.

以領先的建築材料公司 Summit Materials 為例。他們的目標是成為市場上最具社會責任感的供應商，並在 2050 年實現淨零排放。為了實現其 ESG 報告中概述的目標，他們需要更可靠的數據和更深入的營運可見度。 Summit 正在使用 Samsara 的車輛遠端資訊處理、基於視訊的安全性和現場可視性系統。借助 Samsara，他們預計每年可節省約 100 萬美元的燃料成本。這意味著減少超過 2,000 噸二氧化碳排放量或超過 175,000 加侖的燃料。此外，他們還發現一年內可預防的車輛事故減少了 33%。

We are also helping Sunrun unlock new ways to meet their sustainability goals. As outlined in their latest impact report, we're helping them reduce transportation emission by transitioning half of their vehicle fleet to electric or hybrid.

我們也幫助 Sunrun 探索實現其永續發展目標的新途徑。正如其最新影響力報告所述，我們正在幫助他們將一半的車輛轉換為電動或混合動力車輛，從而減少交通排放。

We also made great strides on our own ESG goals this quarter. Doing this helps us better understand our customers' ESG journeys and guide them. Samsara is carbon-neutral, and we're committed to maintaining carbon neutrality and achieving net zero emissions by 2040.

本季度，我們在自身 ESG 目標方面也取得了長足進步。這有助於我們更了解客戶的 ESG 歷程，並為他們提供指導。 Samsara 致力於實現碳中和，並致力於在 2040 年前實現淨零排放。

As I mentioned earlier, the world of physical operations represents more than 40% of the global GDP and keeps our world running. We want our Connected Operations Cloud to be the foundation supporting digital transformation in this space for decades to come. As part of this, we are prioritizing profitability because we plan to be a sustainable long-term business.

正如我之前提到的，實體營運佔全球GDP的40%以上，並支撐著我們世界的正常運作。我們希望我們的互聯營運雲能夠成為未來幾十年支援該領域數位轉型的基石。為此，我們優先考慮盈利能力，因為我們計劃成為一家可持續發展的長期企業。

We improved our operating margins by more than half year-over-year and remain committed to key operational drivers for profitability, disciplined capital allocation, reducing hardware costs and efficient go-to-market strategy focused on renewals and expansions. We're also focused on building capacity to serve increasing customer demand. Q1 was our best hiring quarter since the pandemic began, driven in part by our well-received work-from-anywhere strategy. 90% of the new hires in Q1 are remote-first employees. By expanding our operations, we're able to leverage the efficiencies of a global talent pool, bolster customer support and accelerate region-specific go-to-market strategies. We plan to sustain our hiring momentum throughout FY '23 in order to serve our growing base of customers.

我們的營業利潤率年增超過一半，並持續致力於獲利的關鍵營運驅動力、嚴謹的資本配置、降低硬體成本以及專注於續約和擴張的高效市場進入策略。我們也致力於提升產能，以滿足日益增長的客戶需求。第一季是我們自疫情爆發以來招募業績最好的一個季度，這部分得益於我們廣受好評的「隨時隨地辦公」策略。第一季90%的新員工都是遠距辦公優先的員工。透過拓展業務，我們能夠利用全球人才庫的效率，加強客戶支持，並加速特定區域的市場進入策略。我們計劃在23財年保持招募勢頭，以服務不斷成長的客戶群。

Last, I'd like to thank all Samsarians as well as our customers, partners and investors for their continued support. We're in the early stages of this tremendous opportunity and look forward to what's ahead. We're excited to continue the partnership at our first-ever in-person customer conference, Samsara Beyond, on June 15 and 16.

最後，我要感謝所有 Samsarians 成員以及我們的客戶、合作夥伴和投資者一直以來的支持。我們正處於這一巨大機會的早期階段，並期待著未來。我們很高興能在 6 月 15 日至 16 日舉行的首屆 Samsara Beyond 客戶大會上繼續維持合作關係。

With that, I'll hand it over to Dominic to go over the financial highlights for the quarter.

說完這些，我會把話題交給 Dominic，讓他回顧一下本季的財務亮點。

Thanks, Sanjit. As a reminder, please refer to our shareholder letter, press release and investor presentation at investors.samsara.com for additional information on our Q1 results and guidance.

謝謝，Sanjit。提醒一下，請參閱我們在 investors.samsara.com 網站上的股東信、新聞稿和投資者介紹，以獲取有關我們第一季業績和預期的更多資訊。

Q1 was highlighted by strong top line growth at scale due to continued large customer momentum, multiproduct strength and significant expansions within our existing customer base. Our ending ARR in Q1 was $607 million, growing 59% year-over-year, and Q1 revenue was $143 million, growing 63% year-over-year. Our investments in serving the largest physical operations customers continue to pay off. We now have 897 customers with ARR of more than $100,000 each, a quarterly increase of 91 and an annual increase of 379 or 73% year-over-year growth.

第一季度，由於持續成長的龐大客戶群、強大的多產品實力以及現有客戶群的顯著擴張，公司營收規模實現了強勁成長。第一季度，我們的期末年度經常性收入 (ARR) 為 6.07 億美元，年增 59%；第一季營收為 1.43 億美元，年成長 63%。我們為服務最大的實體營運客戶所做的投資持續獲得回報。目前，我們擁有 897 位 ARR 超過 10 萬美元的客戶，季度新增 91 位，年度新增 379 位，較去年同期成長 73%。

Samsara is purpose-built for large customers with complex operations that want full visibility and control over thousands of disparate assets on one integrated platform. Additionally, large customers are generally more stable in uncertain macroeconomic environments and have stronger long-term unit economics and higher retention rates. Our investments in large customer opportunities coincides with the de-emphasis in acquiring customers with less than $5,000 of ARR. As a result, the number of $100,000-plus ARR customer additions in Q1 surpassed the number of sub-$5,000 ARR customers acquired for the first time ever, and we expect that trend to continue.

Samsara 專為經營複雜的大型客戶打造，他們希望在一個整合平台上全面洞察和掌控數千項不同的資產。此外，大型客戶通常在不確定的宏觀經濟環境中更加穩定，擁有更強勁的長期單位經濟效益和更高的留存率。我們對大型客戶機會的投入與我們對獲取年平均收入 (ARR) 低於 5,000 美元的客戶不再過於重視相吻合。因此，第一季新增年平均收入 (ARR) 超過 10 萬美元的客戶數量首次超過了新增年平均收入低於 5,000 美元的客戶數量，我們預計這一趨勢將持續下去。

Additionally, multiproduct transactions continue to contribute significantly to our top line growth, showing the strength of our Connected Operations Cloud in the market. 7 of our 10 largest deals in Q1 included subscriptions to 2 or more products. More broadly, more than 70% of core customers and more than 90% of $100,000-plus ARR customers subscribe to multiple applications.

此外，多產品交易持續為我們的營收成長做出顯著貢獻，彰顯了我們互聯營運雲在市場上的強勁表現。第一季度，我們最大的10筆交易中有7筆涉及兩種或兩種以上產品的訂閱。更廣泛地說，超過70%的核心客戶和超過90%的年收入超過10萬美元的客戶訂閱了多個應用程式。

We're also seeing multiproduct adoption at scale. At the end of Q1, our 2 connected fleet applications, Video-Based Safety and Vehicle telematics, each represented more than $250 million of ARR, and our remaining non-vehicle applications combined to contribute more than 10% of total ARR.

我們也看到了多產品應用的規模化應用。第一季末，我們的兩款互聯車隊應用程式——基於視訊的安全和車輛遠端資訊處理——各自貢獻了超過2.5億美元的年度經常性收入 (ARR)，其餘非車輛應用合計貢獻了總ARR的10%以上。

And finally, while Q1 was another record quarter of new core customer additions, it was also the second consecutive quarter that expansions to existing customers drove more than 50% of net new ACV. As a result, our dollar-based net retention rate for core customers and large customers continues to be greater than our target of 115% and 125%, respectively.

最後，雖然第一季新增核心客戶數再創紀錄，但這也是連續第二季現有客戶拓展推動淨新增ACV超過50%。因此，我們核心客戶和大客戶的美元淨留存率持續高於我們分別設定的115%和125%的目標。

In addition to our strong top line performance, we continue to operate more efficiently as we scale, and we saw strong year-over-year leverage across all functions. Our Q1 non-GAAP gross margin was 73%, a year-over-year improvement of approximately 2 percentage points primarily from product optimizations, improved commercial strategies and larger scale. Our operating margin was negative 18%, an annual improvement of more than 50% or approximately 24 percentage points year-over-year, driven by leverage across all functions. And our adjusted free cash flow margin improved by 10 percentage points year-over-year, driven by the operating leverage I just mentioned but partially offset by negative net working capital.

除了強勁的營收表現外，隨著規模的擴大，我們的營運效率也持續提升，所有職能部門的槓桿率均實現了強勁的年比提升。我們第一季的非公認會計準則毛利率為73%，較去年同期成長約2個百分點，這主要得益於產品優化、商業策略的改進以及規模的擴大。我們的營業利益率為-18%，年成長超過50%，即約24個百分點，主要得益於所有職能部門的槓桿率。我們的調整後自由現金流利潤率年增了10個百分點，這得益於我剛才提到的營業槓桿率，但部分被負淨營運資本所抵銷。

A key component of our solution is providing IoT devices that connect physical assets to the Samsara cloud. More than 75% of our adjusted free cash flow in Q1 was related to payments for IoT devices. And while these purchases result in negative net working capital today while we're growing rapidly, we anticipate net working capital will turn positive in our long-term model primarily from a more stable global supply chain, improved device optimizations and a larger renewal base that won't require new devices, all of which will lead to operating margin and free cash flow margin converging over time.

我們解決方案的關鍵組成部分是提供將實體資產連接到Samsara雲端的物聯網設備。第一季度，我們超過75%的調整後自由現金流與物聯網設備付款有關。雖然這些採購導致我們目前在快速增長的情況下淨營運資本為負，但我們預計，在長期模型中，淨營運資本將轉為正值，這主要得益於更穩定的全球供應鏈、更完善的設備優化以及更大的設備更新基數（無需購買新設備），所有這些都將導致營業利潤率和自由現金流量隨著時間的推移而趨於一致時間。

It's also worth noting that global supply chain disruption continues to put pressure on critical component costs and availability. We expect inventory costs and lead times to remain high for the foreseeable future, but we also expect they will normalize over time as the supply chain ramps to meet demand. But even in the face of this challenge, we improved our gross margin, we improved our adjusted free cash flow margin, and we shipped enough IoT devices to meet all customer demand for the quarter.

值得注意的是，全球供應鏈中斷持續對關鍵零件成本和供應造成壓力。我們預計在可預見的未來，庫存成本和交貨週期仍將維持高位，但隨著供應鏈逐步滿足需求，我們預計這些成本和交貨週期將逐漸恢復正常。即使面臨這項挑戰，我們的毛利率和調整後自由現金流利潤率仍然有所提高，本季物聯網設備的出貨量足以滿足所有客戶的需求。

And the final Q1 point I want to make is regarding hiring and head count. Q1 was our largest hiring quarter since pre-COVID, and almost 50% of our net new employees joined our go-to-market teams. We primarily utilize a direct sales model, which means adding more sales capacity, along with improving productivity, are key drivers of future growth. As a reminder, we reduced head count at the beginning of FY '21 during the onset of COVID to manage costs in an uncertain macro environment, and we started to rebuild our head count capacity last year. We're now above pre-COVID head count and on track to accelerate our head count growth in FY '23 while maintaining a commitment to margin improvement each year.

關於第一季度，我最後想說的是關於招募和員工人數。第一季是我們自新冠疫情爆發以來招募規模最大的一個季度，近50%的淨新增員工加入了我們的市場推廣團隊。我們主要採用直銷模式，這意味著提升銷售能力和提高生產效率是未來成長的關鍵驅動力。需要提醒的是，在新冠疫情爆發初期，為了在不確定的宏觀環境下控製成本，我們在21財年伊始就進行了裁員，並於去年開始重建員工隊伍。目前，我們的員工人數已超過新冠疫情爆發前的水平，並有望在23財年加速員工人數成長，同時繼續致力於每年提高利潤率。

Okay. Now turning to guidance. For Q2 FY '23, we expect total revenue to be between $142 million and $144 million, representing year-over-year growth between 41% and 43%, and non-GAAP operating margin to be approximately negative 22%. Based on our strong Q1 results and updated outlook for the remainder of FY '23, we're raising our full year revenue guidance to $590 million to $600 million or 38% to 40% year-over-year growth. We also identified additional savings from operating efficiencies without sacrificing investments to growth given the strong demand we're seeing from customers. So in addition to increasing our top line guidance, we also raised our FY '23 operating margin guidance to negative 20% or an implied non-GAAP operating income improvement of $7 million. And finally, we also included some additional modeling notes for Q2 and full year FY '23 in our shareholder letter.

好的。現在談談業績指引。對於2023財年第二季度，我們預計總營收將在1.42億美元至1.44億美元之間，年增41%至43%，非公認會計準則（Non-GAAP）營業利潤率約為-22%。基於我們強勁的第一季業績以及2023財年剩餘時間的最新展望，我們將全年營收指引上調至5.9億美元至6億美元，年增38%至40%。鑑於客戶需求強勁，我們也發現，在不犧牲投資以促進成長的情況下，透過提高營運效率可以實現更多成本節約。因此，除了上調營收指引外，我們還將2023財年的營業利潤率指引上調至-20%，或隱含的非公認會計準則營業利潤成長700萬美元。最後，我們也在致股東信中補充了一些關於2023財年第二季和全年的額外模型說明。

To wrap up, we are very pleased with our start to the year and our improved outlook for FY '23. We are benefiting from the secular transformation of physical operations, and we believe that the macro volatility caused by high inflation and a tight labor market is making Samsara even more imperative to our customers. And we remain committed to continued operating efficiencies on our path to profitability through scale, product enhancements, global employee expansion and cost optimization, all without sacrificing the incredible customer demand we're experiencing.

總而言之，我們對今年的開局以及2023財年的前景感到十分滿意。我們受惠於實體營運的長期轉型，我們相信，高通膨和勞動市場緊俏引發的宏觀波動，使得Samsara對我們的客戶更加重要。我們將繼續致力於透過規模化、產品升級、全球員工擴張和成本優化，在獲利道路上持續提升營運效率，同時確保不犧牲我們目前龐大的客戶需求。

With that, I'll hand it over to Mike to moderate Q&A.

說完這些，我會把時間交給 Mike 來主持問答環節。

Thanks, Dominic. We'll now open the line up for questions. (Operator Instructions) The first question today comes from Kirk Materne at Evercore, followed by Keith Weiss at Morgan Stanley.

謝謝，多米尼克。現在開始提問。 （操作員指示）今天第一個提問者是 Evercore 的柯克·馬特恩 (Kirk Materne)，其次是摩根士丹利的基思·韋斯 (Keith Weiss)。

Congrats on the quarter. I was wondering if you all could just talk a little bit about what you're seeing in your pipeline build and maybe juxtapose that versus what you saw at the beginning of 2020. Obviously, everybody is pretty nervous about the macro, but I imagine for your business, it's very different today just given your size and scale and the maturity of the business. So can you just give us a bit of a sense of what you're seeing on just sort of pipeline build?

恭喜本季取得佳績。我想請問各位能否簡單談談目前公司在產品線建設方面的情況，並將其與2020年初的情況進行比較。顯然，大家都對宏觀經濟情勢感到擔憂，但考慮到貴公司的規模和成熟度，我想對於貴公司而言，如今的情況會大不相同。能否簡單介紹一下目前在產品線建置方面的狀況？

Also, just on -- can you just talk a little bit about the sequential guide on revenue? Why you're seeing it sort of flat sequentially makes sense given that sort of deviates from the pattern we've seen over the last year at least.

另外，您能否簡單談談營收的環比成長指引？您認為收入環比持平是有道理的，因為這與我們至少去年看到的模式有所不同。

Great. Kirk, this is Sanjit. I'll start with your first question around pipeline build. So in general, we are on track in terms of pipeline build for the year, and we're seeing healthy incoming -- inbound business leads and so on from across different industries. So we serve a variety of industry segments, including construction, field services, local governments, transportation. And we are continuing to see growth there.

太好了。柯克，我是桑吉特。我先回答你關於通路建設的第一個問題。總的來說，我們今年的通路建設進展順利，我們看到來自不同行業的業務線索流入情況良好。我們服務於多個行業領域，包括建築、現場服務、地方政府和交通運輸。而且這些領域仍在持續成長。

I think this is very different than what we saw at the beginning of 2020 when effectively, a lot of the world froze or shut down. It was just uncertain what was going to happen. And what turned out to be the case was that the industries we serve are the essential industries. They're the ones that keep the energy utilities running, keep the water running and so on. So they sprang back very quickly. I think that was just not clear at the beginning of 2020. Whereas right now, what we're seeing is even with inflation, even with macro uncertainty, people still need waste management, they still need energy utilities to run, they still need the local governments, and they need food and beverage to continue to operate. So I think while everyone is keeping their ear to the ground to understand what might happen in the future, these industries are really robust and they're truly essential industries.

我認為這與我們在2020年初看到的情況截然不同，當時全球許多地方實際上都處於凍結或停擺狀態。當時人們根本不知道會發生什麼事。而事實證明，我們所服務的產業是至關重要的產業。它們維持著能源設施的運轉，維持供水系統的運作等等。所以它們恢復得非常快。我認為這在2020年初並不明顯。而現在，我們看到的是，即使通貨膨脹，即使宏觀經濟存在不確定性，人們仍然需要廢物管理，仍然需要能源設施的運轉，仍然需要地方政府的幫助，仍然需要食品和飲料的繼續運作。所以我認為，雖然每個人都在密切關注未來可能發生的事情，但這些行業確實非常強勁，而且它們確實是至關重要的行業。

Yes. And again, on the -- I think we feel good about what we're seeing in the pipeline, and that allowed us to raise our full year revenue guidance for the year.

是的。再說一次，我對目前看到的情況感到滿意，這讓我們能夠提高今年的全年收入預期。

And then just on your Q2 sequential revenue guidance question, Kirk. Again, this is similar to the kind of the comments that I made 3 months ago during our Q4 earnings call. We -- this is our first year as a public company, and so we want to make sure that we're putting out numbers that we feel highly confident about hitting. And so this is similar to the Q1 guide that we provided 3 months ago, but we're not seeing any major negative impacts to our business. We are aware of the broader macro factors that we've talked about that may impact the economy. But we're not seeing anything in our pipeline that concerns us.

然後，關於您關於第二季連續收入預期的問題，Kirk。再次強調，這與我三個月前在第四季財報電話會議上發表的評論類似。這是我們作為上市公司的第一年，因此我們希望確保公佈的數據是我們非常有信心能夠達到的。這與我們三個月前提供的第一季預期類似，但我們沒有看到任何對我們業務的重大負面影響。我們意識到我們之前討論過的可能影響經濟的更廣泛的宏觀因素。但我們沒有看到任何讓我們擔憂的計劃。

Our next question comes from Keith Weiss at Morgan Stanley, followed by Michael Turrin at Wells Fargo. Keith? Okay. Let's go to the next question. We'll come back to you, Keith. Our next question comes from Michael Turrin at Wells Fargo.

下一個問題來自摩根士丹利的Keith Weiss，接下來是富國銀行的Michael Turrin。 Keith？好的。我們進入下一個問題。之後再問你，Keith。下一個問題來自富國銀行的Michael Turrin。

It's clear just from the initial question, we're feeling a lot of questions on the macro. Some of your customers are dealing with things like supply chain complexity and inflation, but you've referenced there elements of the product set that can help with things like fuel savings and efficiency gains. So anything you can add on just your latest view on those market crosswinds, if there are observations you can share from recent customer conversations that showcase certain elements of the product portfolio, that's all very helpful.

從最初的問題就可以看出，我們對宏觀經濟有許多疑問。您的一些客戶正在應對供應鏈複雜性和通貨膨脹等問題，但您提到了產品組合中的一些元素可以幫助節省燃料和提高效率。所以，如果您能補充一些您對這些市場挑戰的最新看法，或者分享您最近與客戶溝通中觀察到的、能夠展現產品組合某些元素的觀察結果，那將非常有幫助。

Sure. So Michael, this is Sanjit. I've been spending a lot of time over the past month out in the field meeting customers both here domestically in the U.S. as well as out in Western Europe. I think we are seeing a couple of trends that are very related to this kind of macro issues. Fuel savings, as I highlighted in the shareholder letter and earlier in the earnings call, is something that's very front of mind. This is an operating expense for our customers across all these industries. And frankly, they'd like to find ways to save money on that, especially the rising cost of fuel. So our products has been essential in terms of helping them quantify where those fuel expenses are going and finding opportunities to reduce those fuel spend by 15%, 20%, 30% in some cases. So that's one area.

當然。 Michael，我是Sanjit。過去一個月，我花了很多時間在外地會見美國國內和西歐的客戶。我認為我們看到了一些與這類宏觀問題密切相關的趨勢。正如我在致股東信和之前的財報電話會議上所強調的那樣，節省燃油是我們最關心的問題。對於我們所有行業的客戶來說，這都是一項營運支出。坦白說，他們希望找到節省燃油成本的方法，尤其是在燃油成本不斷上漲的情況下。因此，我們的產品在幫助他們量化燃油支出的去向，並找到在某些情況下將燃油支出降低15%、20%甚至30%的機會方面發揮了至關重要的作用。所以，這是一個面向。

I think the other area that's related is -- you mentioned the supply chain crunch. That affects the availability of vehicles for many of our customers as well as other kinds of equipment. So that could be construction equipment, trailers, generators, compressors and so on, which means that they need to find ways to sweat their assets and run them for longer lifetimes.

我認為另一個相關的領域是—您提到了供應鏈緊縮。這影響到我們許多客戶的車輛以及其他設備的供應。這些設備可能包括建築設備、拖車、發電機、壓縮機等等，這意味著他們需要找到方法來充分利用資產，延長其使用壽命。

And specifically, I'm thinking of a customer conversation I had 2 weeks ago. They said we normally run our vehicles for 600,000 miles. We're now trying to find a way to run them for 900,000 miles, and we're using the Samsara products to understand which of those vehicles need maintenance and might break down and cause unplanned downtime. And they're being very data-driven about how do they run those assets for longer. So that's how they're combating the supply crunch. They're still seeing a ton of customer demand from their end customers. They just can't get new assets to deploy out in the field. So they're trying to be smarter about their operations.

具體來說，我想起了兩週前與一位客戶的對話。他們說我們的車輛通常行駛60萬英里（約96萬公里）。現在我們正在想辦法讓它們行駛90萬英里（約144萬公里），我們正在使用Samsara的產品來了解哪些車輛需要維護，哪些車輛可能出現故障並導致計劃外停機。他們非常依賴數據來決定如何讓這些車輛運行更長時間。這就是他們應對供應緊縮的方法。他們仍然看到來自終端客戶的大量客戶需求。他們只是無法獲得新的資產部署到現場。所以他們正在努力提高營運的智慧化程度。

So those are hopefully just 2 helpful examples of how people use our technology. Maybe the third one, if I can cram one more in there, would be just around insurance costs. Distracted driving continues to be an issue. Accident rates are still very high. And in this kind of -- in these macro environments, our customers are being very conscious around costs. So they're looking to reduce accidents, lower their insurance premiums, exonerate their drivers. And so I think our driver safety products continue to also do very well for that reason.

希望以上只是兩個關於人們如何使用我們技術的例子。第三個例子，如果我可以再加一個的話，是關於保險成本的。分心駕駛仍然是一個問題。事故率仍然很高。在這種宏觀環境下，我們的客戶非常注重成本。他們希望減少事故，降低保險費，減輕駕駛員的責任。因此，我認為我們的駕駛安全產品也因此繼續表現良好。

That's very helpful. That's great to tell. Dominic, if I can sneak in a follow-up. You added more than 90 customers to that $100,000 customer metric during the Q1. Can you just speak to the drivers there? Is that unusual for Q1? Is there anything in the demand environment that's driving that? Or is this more just natural expansion within customers that helps explain that? Maybe you can just put some context around that metric as well.

這很有幫助，很高興能告訴你。 Dominic，我可以偷偷跟進嗎？第一季度，你們在10萬美元客戶指標的基礎上又增加了90多個客戶。您能談談其中的驅動因素嗎？這在第一季不常見嗎？需求環境有什麼因素在推動這項成長嗎？或者這只是客戶群的自然成長，有助於解釋這個現象？或許您也可以解釋一下這個指標的背景。

Yes. I mean Q1 is our seasonally lowest net new ACV quarter. We did 66 in $100,000-plus adds in Q1 of last year. So the 91 was a great start to the year, and it was kind of in line with what we saw in Q2, 3 and 4 of last year. But this has been a concerted effort and an investment focus for us for a long time, really building out an enterprise sales segment, a field team to go after these customer opportunities. And we're also seeing it within the expansion numbers. Again, this is the second quarter in a row where more than 50% of our new bookings came from our existing customers, and those tend to be the larger customers as well. But overall, our customer demand remains really strong. Our productivity improved year-over-year from our fully ramped sales reps. We came in slightly ahead of our forecast. And so it was really solid Q1.

是的。我的意思是，第一季是我們季度淨新增ACV最低的季度。去年第一季度，我們新增了66個10萬美元以上的訂單。所以，91筆訂單對於今年來說是一個好的開端，也與去年第二、三、四季的情況基本一致。但長期以來，這一直是我們齊心協力和投資重點，我們真正打造了一個企業銷售部門，一個現場團隊來抓住這些客戶機會。我們也在業務擴張的數據中看到了這一點。這已經是連續第二季超過50%的新訂單來自現有客戶，而這些客戶往往也是規模較大的客戶。但整體而言，我們的客戶需求依然強勁。由於銷售代表的全面投入，我們的生產力較去年同期成長。我們的業績略高於預期。所以，第一季的表現非常穩健。

Thanks, Michael. Let's come back to Keith and see if we can get him back online here.

謝謝，麥可。我們回去找基思，看看能不能讓他重新上線。

Excellent. Can you hear me? No, I guess.

太好了。你聽得到我說話嗎？我估計聽不到。

Yes, we can hear you, Keith.

是的，我們能聽到你的聲音，基斯。

Awesome. Sorry about that. So a very nice quarter. I think 2 for Dominic. You talked about a kind of -- more of a focus on profitability and that ramp to profitability. We saw that in the quarter with the outperformance on margins. Should we be thinking about a kind of faster ramp to profitability? Can you give us maybe a sort of a longer-term view on what that means in terms of when we should expect you guys to get to either breakeven on an operating income line or a free cash flow line? That's part one.

太棒了。抱歉。所以這是一個非常棒的季度。我想多米尼克應該拿到2分。您談到了更加重視盈利能力以及盈利能力的提升。我們在本季看到了利潤率的優異表現。我們是否應該考慮以更快的速度提升獲利能力？您能否從更長遠的角度，就我們預期您何時才能實現營業收入或自由現金流的損益平衡，給我們一個更清晰的展望？這是第一部分。

Part two, the other part of the equation that's really top of mind for a lot of investors right now is stock-based compensation particularly with companies that have hired a lot over the past year at a point where their stock prices were materially higher. So how are you guys thinking about stock-based compensation? Is there a prospect of a larger grant coming up to make employees whole or something that investors should be aware of on the horizon?

第二部分，目前許多投資人最關心的另一個問題是股票薪酬，尤其是那些在過去一年招募了大量員工且股價大幅上漲的公司。那麼，你們對股票薪酬有什麼看法呢？未來是否有可能提供更大額度的獎勵來彌補員工的損失，或是投資人應該關注的未來趨勢？

Sure. Thanks, Keith. So on your first question, the path to breakeven, whether it's on free cash flow, it's probably going to come for us first on operating margin because of the net working capital dynamics of our business. But it's definitely a big priority internally. We have a number of initiatives that we're focused on that are going to accelerate the time line that we've determined over the last kind of 3 months. I still think we're probably a few years away. I'll provide a more kind of firmer time line as being closer to that milestone. But I think regardless of that timing, we are committed to showing more leverage across both operating margin and free cash flow margin each year on that path to breakeven.

當然。謝謝，Keith。關於你的第一個問題，實現收支平衡的路徑，無論是自由現金流，還是由於我們業務的淨營運資本動態，我們可能首先會關注營業利潤率。但這絕對是我們內在的重中之重。我們正專注於推進一系列舉措，以加快我們在過去三個月中確定的時間表。我仍然認為我們可能還需要幾年時間才能實現。隨著接近這一里程碑，我會提供一個更確切的時間表。但我認為，無論時間如何，我們都致力於在實現收支平衡的道路上，每年在營業利潤率和自由現金流利潤率方面展現出更大的槓桿作用。

On the second question in terms of SBC as a percentage of sales, for Q1, for us, it was just over 30%. I expect that, that will decrease over time. And I do think that it will be lower for the full year than it was in Q1. The first half of this year is being impacted by 2 things. We are -- we have some accelerated SBC expense that's tied to the pre-IPO shares that vested at the time of the IPO that's impacting the beginning of this year. And then we do our large annual equity refresh in the middle of Q1. And so we will see a little bit more of that expense in the kind of the first half of the year, but I do expect that the second half of the year will be lower.

第二個問題是關於SBC佔銷售額的百分比。就我們第一季而言，這個數字略高於30%。我預計這個數字會隨著時間的推移而下降。我認為全年的SBC佔比會低於第一季。今年上半年受到兩方面的影響。首先，我們有一些加速的SBC費用，與IPO時歸屬的Pre-IPO股票掛鉤，這會影響到今年年初。其次，我們在第一季中期進行了大規模的年度股權更新。因此，我們預計上半年這類費用會略有增加，但我預計下半年會降低。

I think another way that we look at this is on an SBC as a percentage of OpEx and COGS. And for us, it was 20% in Q1. And when we look at that benchmark to other recent software IPOs, it's actually quite favorable and it's actually in line with some of the at-scale SaaS companies. So it's something that we're tracking and monitoring. And on both of those metrics, we expect to see improvements over time.

我認為，我們看待這個問題的另一種方式是將 SBC 視為營運支出 (OpEx) 和銷售成本 (COGS) 的百分比。我們在第一季的 SBC 是 20%。如果我們將這個基準與其他近期上市的軟體公司進行比較，就會發現它實際上相當有利，並且與一些規模化的 SaaS 公司的情況一致。所以，我們正在追蹤和監控 SaaS 的進展。我們預計這兩個指標都會隨著時間的推移而改善。

Got it. So the grants in Q1, those are kind of in line with kind of historical, granted there's nothing kind of out of the ordinary because of the pullback in the stock price?

明白了。所以，第一季的撥款多少符合歷史水平，當然，股價回檔也沒有什麼異常，對吧？

Yes. So we typically have 2 comp cycles a year. We do one at the beginning of the year, and we do one at midyear. And so we're going to -- we'll look at that comp again in a few months. But other than those normal new hire grants and the equity -- the annual equity refresh that we did at the beginning of the year, we haven't done anything off cycle. But with that, I will say that we're always evaluating comp for -- and equities, but we haven't done anything more broadly beyond that.

是的。我們通常每年有兩次薪酬週期。一次在年初，一次在年中。幾個月後我們會再次評估薪資。除了常規的新員工激勵和股權——我們在年初進行的年度股權更新——之外，我們沒有進行任何非週期性的調整。不過，我想說的是，我們一直在評估薪酬和股權，但除此之外，我們沒有進行任何更廣泛的調整。

Our next question comes from Matt at William Blair, followed by Kash at Goldman Sachs.

我們的下一個問題來自 William Blair 的 Matt，然後是高盛的 Kash。

Wanted to ask on the John Deere partnership that you mentioned in the shareholder letter. Any additional details on that? And any sort of plans to build out a broader suite focused on digitizing the farming space?

想問一下您在股東信中提到的與約翰迪爾的合作關係。能提供更多細節嗎？有沒有計劃建構一個更廣泛的、專注於農業領域數位化的方案？

Happy to take that. So Matt, I'm glad you're able to see that in the shareholder letter. We're really excited to bring John Deere onto the platform. And this is, again, connecting all of their different kinds of equipment that used to be on JD linked into the Samsara Operations Cloud. So we've been building this out as a strategy not just for farm equipment or construction equipment but all kinds of equipment. So we've partnered with Ford, International, Volvo and others in OEM integrations to bring that data into the cloud. I would say this is, again, just trying to give our customers full visibility over connected operations. So while Deere has farming equipment, we also are partnering with others that make construction equipment and others that make generators and compressors and so on. And I would expect to see that rollout continue over the next couple of years.

很高興接受這個消息。 Matt，我很高興你能在股東信中看到這一點。我們非常高興約翰迪爾能加入我們的平台。這又一次將他們之前在京東平台上銷售的各種設備連接到了Samsara營運雲端平台。我們一直在建立這項策略，它不僅適用於農業設備或建築設備，也適用於所有類型的設備。我們與福特、萬國、沃爾沃等公司合作，在原始設備製造商（OEM）整合方面將這些資料匯入雲端。我想說，這只是為了讓我們的客戶能夠全面了解互聯營運。雖然約翰迪爾擁有農業設備，但我們也與其他建築設備製造商、發電機和壓縮機製造商等合作。我預計未來幾年將繼續推進這項業務。

Okay. Great. And one follow-up for Dominic, if I may, just on the margin guidance for the year. I think you guys had previously communicated that we should expect revenue upside to be reinvested in the business and for the margin guidance to sort of remain consistent throughout the year. You brought it up a bit. You said it was due to some operational efficiencies. Should we view this as maybe a onetime thing in that your plan is to continue to hold it steady going forward? Or should we expect the revenue upside to produce some improvement to the margin guidance going forward?

好的。太好了。如果可以的話，我再問多明尼克一個問題，關於今年的利潤率指引。我記得你們之前已經溝通過，我們應該預期收入的成長會重新投資於業務，並且利潤率指引全年都會保持穩定。您稍微提到了這一點。您說這是由於一些營運效率的提高。我們是否應該將此視為一次性事件，因為你們的計劃是繼續保持利潤率的穩定？或者，我們應該預期收入的成長會在未來帶來利潤率指引的一些改善？

Yes. Matt, thanks for pointing that out. I think our posture on that has definitely changed over the last 3 months where we were potentially going to have implied operating profit be lower and keeping margins flat as we improve our revenue guidance throughout the year. You saw in this quarter not only did we improve our revenue guidance but we also took up our operating margins for the year, which resulted in that $7 million of implied operating profit. I think that's something we're going to be focused on going forward. It's really looking at the implied operating profit and do not expect that to get worse. And ideally, we can continue to make improvements as we scale the business.

是的。馬特，謝謝你指出這一點。我認為我們在這方面的立場在過去三個月確實發生了變化。我們原本預期隱含營業利潤會下降，利潤率會保持平穩，因為我們全年都在上調收入預期。你在本季看到了，我們不僅提高了收入預期，還提高了全年的營業利潤率，最終實現了700萬美元的隱含營業利潤。我認為這是我們未來要重點關注的事情。我們真正關注的是隱含營業利潤，並且預期它不會再惡化。理想情況下，隨著業務規模的擴大，我們可以繼續改進。

Our next question comes from Kash at Goldman Sachs, followed by Derrick at Cowen.

我們的下一個問題來自高盛的卡什 (Kash)，然後是考恩的德里克 (Derrick)。

Congrats on the quarter. I was curious to get your thoughts on customer acquisition economics. I'm sure that you look at the metrics in a far more detailed manner that we're not able to just looking at reported financials. Any trends that you see as the macro environment arguably gets a little bit more challenging? How are you monitoring how you spend and how that dollar of spend is translating into revenue at attractive economics?

恭喜本季取得佳績。我很好奇您對客戶獲取經濟效益的看法。我相信您會以更細緻的方式看待這些指標，而我們無法只專注於財務報表。您認為宏觀環境是否面臨一些挑戰？您如何監控支出狀況，以及如何在具吸引力的經濟效益下將支出轉化為收入？

And also, if I could, you've had the entire month of May after closing the quarter. Have things changed or with respect to linearity of business pretty much playing out the way you expected? Any thoughts there would be highly appreciated.

另外，如果可以的話，您在本季結束後，已經度過了整個五月。情況有變化嗎？或者說，業務的線性發展基本上是否符合您的預期？如果您對此有任何想法，我將不勝感激。

Yes. Kash, I'll -- let me start there and then Sanjit can pile on. We'll talk a little bit more about some of the kind of unit economic data at our Investor Day coming up in a couple of weeks. But we are looking at CAC payback period, LTV to CAC, net retention rates across different products, different geographies, different sales segments. And they continue to be strong. Our LTV to CAC continues to be more than 8x.

是的。 Kash，我先從這裡開始，然後Sanjit可以補充一下。幾週後我們的投資人日會再討論一些單位經濟數據。我們正關注CAC回收期、LTV/CAC比率，以及不同產品、不同地區、不同銷售細分市場的淨留存率。這些指標持續強勁。我們的LTV/CAC比率持續維持在8倍以上。

And so we have really strong long-term profitability in the investments that we're making. And we're not seeing payback periods increase over time. And in fact, I kind of made the point in one of the other questions that we saw the productivity per rep ramped -- rep improved year-over-year, which gives us confidence that we should continue to invest in the business. And as we talked about, we're going to -- we plan to accelerate head count growth this year. And I'd say that what we're seeing out of May so far getting through month 1, we feel really good about, and that is factored into the guidance that we just provided where we were able to pull up guidance for the year.

因此，我們正在進行的投資擁有非常強勁的長期獲利能力。而我們的投資回收期並沒有隨著時間的推移而延長。事實上，我在另一個問題中提到過，我們看到每位銷售代表的生產力正在提升——銷售代表的生產力逐年提高，這讓我們有信心繼續投資這項業務。正如我們之前提到的，我們計劃今年加快員工人數的成長。我想說，從5月份到第一個月的業績來看，我們感覺非常良好，這已經納入了我們剛剛提供的全年業績指引中，我們得以據此制定全年業績指引。

Yes. I don't think I have anything significant to add to that other than it is sort of playing out as expected in the month of May, and that's again why we felt confident with the guidance. So...

是的。除了5月的業績基本上符合預期之外，我想我沒有什麼重要補充，這也是我們對業績指引充滿信心的原因。所以…

May it continue.

希望這種情況能持續下去。

Thanks, Kash. Our next question comes from Derrick at Cowen, followed by Ethan at Wolfe Research.

謝謝，Kash。下一個問題來自Cowen的Derrick，然後是Wolfe Research的Ethan。

Congrats on a strong quarter. First question, we've heard a lot about your commitment to customer success and listening to the customer needs from your installed base. How is this helping drive more wallet share? And I guess outside of telematics and safety, what do you see as the next strongest emerging product to cross-sell?

恭喜您本季業績強勁。第一個問題，我們多次聽到您談到對客戶成功的投入，以及傾聽現有客戶的需求。這對提升市場佔有率有何幫助？除了遠端資訊處理和安全性之外，您認為下一個最值得交叉銷售的新興產品是什麼？

Sure. Derrick, I'll take that. This is Sanjit. So one of the areas that we have seen -- and I'll kind of answer both questions at once. One of the areas we've seen healthy growth has been around Connected Equipment. So these are non-fleet assets that our customers have as part of their physical operations. I mentioned construction equipment in one of the previous questions. There's all different kinds of equipment out there.

當然。德里克，我來回答。我是桑吉特。我們看到的一個領域——我差不多可以同時回答這兩個問題。我們看到健康成長的一個領域是互聯設備。這些是我們客戶在實體營運中擁有的非車隊資產。我在之前的問題中提到了建築設備。市面上有各種各樣的設備。

And so bringing those assets onto the Samsara Connected Operations Cloud has unlocked even more value for the customer. It's oftentimes an add-on or follow-on project, and you see that in our expansions that have been occurring over time. But that's how, when we run that customer feedback loop, when we build these deep relationships, we're able to expand within these opportunities. And there was a slide in the presentation earlier around multiproduct adoption. Our largest customers, 90% of them, are using multiple products from us. And so that is, I think, how we're driving a lot of expanded share of wallet, which is finding more areas of value to unlock for the customer.

因此，將這些資產引入 Samsara Connected Operations Cloud 為客戶釋放了更多價值。這通常是一個附加項目或後續項目，您可以在我們持續的擴展中看到這一點。但這正是我們運作客戶回饋循環、建立深厚關係的方式，我們能夠在這些機會中持續擴展。先前的簡報中有一張投影片是關於多產品採用的。我們最大的客戶（其中 90%）都在使用我們的多種產品。所以，我認為，這就是我們大幅提升客戶份額的方式，也就是為客戶找到更多可釋放價值的領域。

And I'll just add on there. I mean the customer success team for us is instrumental, and their singular focus is on our net retention rate. And I'll share -- I'll give you an update on where that is at our Investor Day in a couple of weeks. But as we said, we continue to be above our target and we are seeing that trend up over the last several quarters. And so -- and a lot of that is to what Sanjit just mentioned, customers, especially larger customers, coming back and expanding more seats and more products.

我再補充一點。我的意思是，客戶成功團隊對我們來說至關重要，他們專注於我們的淨留存率。我會在幾週後的投資者日上更新我們的淨留存率情況。正如我們所說，我們的業績持續超出目標，而且在過去幾個季度中，我們看到了這種上升趨勢。這很大程度上要歸功於Sanjit剛才提到的客戶，尤其是大客戶，他們回來了，擴大了服務範圍，增加了產品。

That's great to hear. And Dom, one for you. Nice job on the strength of gross margins, but it does sound like you're still seeing some higher component costs. So how are you managing those costs? And how should we be thinking about the gross margin trends for the rest of the year?

很高興聽到這個消息。 Dom，我想問你一個問題。關於毛利率的強勁表現，你做得很好，但聽起來你仍然看到一些零件成本在上漲。那麼，你是如何管理這些成本的呢？今年剩餘時間的毛利率趨勢該如何預測呢？

Yes. I think with the increasing costs, we've been able to find additional savings to more than offset those costs, and so whether it's cloud or cellular fees. And you can see that our gross margin improved from 71% in Q1 of last year to 73% in Q1 of this year. And so even with the increased costs that we've seen, we've been able to find other -- more than enough savings to offset that.

是的。我認為，隨著成本的增加，我們已經找到了額外的節省來抵消這些成本，無論是雲端運算費用還是蜂窩費用。您可以看到，我們的毛利率從去年第一季的71%提高到了今年第一季的73%。所以，即使成本增加，我們也找到了其他足夠的節省來抵消成本。

So you feel good about kind of maintaining this kind of 7 handle plus?

那麼，您對維持這種 7 handle plus 感到滿意嗎？

Yes. I think we'll stay above 70. And again, I think the -- our outlook for the rest of the year is kind of in line with where we were 3 months ago that we expect to be in the low 70s.

是的。我認為會保持在70%以上。而且，我認為我們對今年剩餘時間的預期與三個月前的預測基本一致，我們預計今年的失業率將在70%出頭。

Thanks, Derrick. Our last question for today comes from Ethan at Wolfe.

謝謝，德里克。我們今天的最後一個問題來自沃爾夫的伊桑。

This is Ethan Locke on for Alex Zukin. So I have 2 questions. The first one is you guys had the same amount of large customers added in the quarter, which was great to see. So I guess my question typically is around new customers. I guess what gives you confidence as the macro environment gets tougher that net new customers to the platform, especially larger enterprise customers, will still continue to adopt Samsara solutions?

我是 Ethan Locke，負責 Alex Zukin 的節目。我有兩個問題。第一個問題是，你們本季新增的大客戶數量與上季持平，這真是令人欣慰。所以我的問題通常都圍繞著新客戶。隨著宏觀環境變得更加嚴峻，是什麼讓您有信心，相信平台的新增客戶，尤其是大型企業客戶，仍會繼續採用 Samsara 的解決方案？

Yes. Maybe I'll take that. I think that's what gives us -- we're really excited about is that not only was it a really strong expansion quarter. It was also our largest core customer addition quarter that we've ever seen. And so it's a really nice balanced mix now between new customers and expansion. It's roughly 50-50 in terms of net new ACV bookings mix.

是的，也許我會接受。我認為這才是我們真正興奮的地方——這不僅是一個非常強勁的擴張季度，也是我們有史以來核心客戶新增量最大的季度。所以，現在新客戶和擴張之間達到了非常好的平衡。就淨新增ACV預訂量而言，兩者的比例約為50-50。

Got you. And just the second one is -- so the beat in the quarter was stronger than last quarter, and you also had equally strong rate. So I guess how should we consider how much mix of confidence versus conservatism is factored into the full year outlook just considering how the macro is today and how you guys are viewing the environment and just the outlook in general for your customers throughout the rest of the year into 2023?

明白了。第二個問題是－本季的業績比上一季強勁，而且你們的利率也同樣強勁。那麼，考慮到目前的宏觀經濟形勢，以及你們對環境的看法，以及對今年剩餘時間直至2023年客戶總體前景的展望，我們應該如何考慮信心和保守主義的結合程度？

Yes. I think getting through Q1 and having the success you saw in terms of the beat gives us a lot of confidence as I kind of mentioned that customer demand remains really strong. Our productivity grew year-over-year. We were ahead of our forecast for Q1, and our outlook remains really strong, which gave us the confidence to raise the top line guidance for the rest of the year.

是的。我認為，正如我之前提到的，在第一季取得瞭如此好的業績，這給了我們很大的信心，因為客戶需求仍然非常強勁。我們的生產力年增。第一季的業績超出了預期，而且我們的前景仍然非常強勁，這讓我們有信心上調今年剩餘時間的營收預期。

Perfect. So this concludes the question-and-answer portion. Thank you all for attending our Q1 fiscal year 2023 earnings call. Before I let you go, I have a few short announcements. First, we'll be attending the William Blair Growth Stock Conference in person on June 7, and we look forward to seeing you there. Second, we are hosting an inaugural Investor Day on June 15 in San Francisco, where we'll be providing additional insights to the Samsara trajectory and the overall state of physical operations. Our Investor Relations website will have a Web link to a live broadcast.

完美。問答環節到此結束。感謝各位出席我們2023財年第一季財報電話會議。在各位結束之前，我有幾個簡短的公告。首先，我們將於6月7日親臨William Blair成長股大會，期待屆時與各位見面。其次，我們將於6月15日在舊金山舉辦首屆投資者日活動，屆時我們將就Samsara的發展軌跡和整體實體營運狀況提供更多見解。我們的投資者關係網站將提供直播連結。

So that's it for today's meeting. If you have any follow-up questions, you can email us at ir@samsara.com. Thanks again. Bye, everyone.

今天的會議就到這裡。如果您有任何後續問題，請發送電子郵件至 ir@samsara.com。再次感謝。再見，各位。