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  "documentTitle": "Samsara Inc. (IOT)",
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  "presentationDate": "2023-09-21 00:00:00",
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  "notes": "Uses expert testimony to frame a business model shift as a deceptive accounting practice.",
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      "text": "Prior to its IPO, Samsara charged for hardware and software separately. However, we believe it migrated to a bundled solution in order to increase the amount of subscription revenue and dress up its financials for the IPO.",
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      "text": "Prior to its IPO, Samsara charged for hardware and software separately. However, we believe it migrated to a bundled solution in order to increase the amount of subscription revenue and dress up its financials for the IPO. We believe that, as time passes, Samsara will be less able to obtain any credit for hardware value included in its bundled offering in future price negotiations.",
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      "text": "…initially, the way that the go-to-market basically sold, there was two components of costs, one being a hardware cost, one being the licensing cost…the hardware is just a onetime cost. But you would see that cost, yes. And so, what that served as is essentially a negotiation tactic for a lot of people during that time. This all changed probably in 2019, where the hardware cost was actually written down to zero and then included within the SaaS licensing…The new way of doing it is to have that software or have the hardware at no cost, at least shown to the customer as no cost… — Tegus Interview with Former Samsara Senior Account Executive, 7/20/23",
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      "text": "Source: Spruce Point Research, Tegus, Third Bridge",
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      "text": "Samsara's Pricing Evolution Regarding Hardware",
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