Samsara IPO: IoT company valued over US$ 12 billion. Buy call?

2 min read | December 16, 2021 09:21 PM AEDT | By Raza Naqvi

Samsara IPO: IoT company valued over US$ 12 billion. Buy call? — Image source: © Rawpixelimages | Megapixl.com

Should you buy Samsara (IOT) stock?

As the stock symbol suggests, Samsara is involved in enabling its business to carry out smooth business operations over the internet or other communication networks.

After the COVID-19 pandemic, almost everything is on the cloud and companies are finding new ways to run their operations online.

Samsara IPO 2021

Samsara sells hardware and cloud-based software to companies to enable them to manage operations like fleet management more efficiently.

Also Read: Reddit IPO: How to buy this discussion forum's stock?

Samsara has a decent balance sheet, and its revenue was US$ 249.9 million for the fiscal year ended January 30, 2021. In the same comparable period last year, the revenue was US$ 119.9 million.

For the fiscal year 2021, Samsara’s cash and cash equivalents were worth US$ 399.9 million in comparison to US$ 201.1 million in 2020.

Samsara narrowed its net loss to US$ 102.3 million for the nine months ended October 30, 2021, in comparison to US$ 174 million in the same comparable period.

Bottom line

In 2021, 80 companies have reportedly gone public in the US equity markets and raised more than US$ 37 billion, exceeding the previous year's record of US$ 20 billion in 2020.

Samsara’s IPO is one of the biggest this year and as it gained investors' attention on the first day of trading, it could continue to gain momentum in future.

Also Read: Solid Power to go public. How to buy the EV battery maker’s SLDP stock?

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