Samsara says Q1 will be lowest quarter of the year on net new ARR

The company states: "With respect to net new ARR seasonality, as is typical for enterprise software companies and similar to previous years at Samsara, we expect Q1 FY24 will be our lowest quarter of the year and lower than Q4 FY23, and we expect Q4 FY24 will be our highest quarter of the year. We also expect Q1 will be seasonally weaker and Q4 seasonally stronger than in previous years due to higher growth in our large customer cohort (which typically has stronger end-of-the-year bookings linearity), and reduced investment in our small customer cohort (which typically has more balanced bookings linearity throughout the year). Dollar-based NRR for Q4 FY23 was above our FY23 target of 115% for core customers and 125% for $100K+ ARR customers. Looking forw ard to FY24, we are setting our dollar-based NRR target at 15% for core customers and 120% for $100K+ ARR customers, given the uncertainty of the current macroeconomic environment. However, depending on the mix of net new ACV from new customers versus expansions, dollar-based NRR may fluctuate around this threshold. Non-GAAP gross margin for FY24 will be in the low 70s percent. We expect to cut our FY23 negative adjusted free cash flow dollars in half in FY24 and to reach adjusted free cash flow break-even this year in Q4 FY24." Comments taken from Q4 shareholder letter.