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Samsara vs Waystar Holding: IOT and WAY compared
Samsara is the larger company: $508M of revenue in its latest quarter (Q2 FY27) against $326M for Waystar Holding (Q3 2026). Samsara is growing faster (+30% against +21% a year earlier). Waystar Holding is more profitable, with an operating margin of 18.8% against 1.0%.
Where the money goes: IOT and WAY
Samsara (IOT) · Q2 FY27
Samsara, Q2 FY27: revenue $508M (+30% year over year), operating margin 1.0%, net earnings $16.2M, operating cash flow $73.5M. The chart follows the revenue to costs, profit and cash.
Waystar Holding (WAY) · Q3 2026
Waystar Holding, Q3 2026: revenue $326M (+21% year over year), operating margin 18.8%, net earnings $31.0M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Samsara (IOT) | Waystar Holding (WAY) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $508M | $326M |
| Revenue growth, Y/Y | +30% | +21% |
| Gross margin | 77.2% | — |
| Operating margin | 1.0% | 18.8% |
| Net earnings | $16.2M | $31.0M |
| Net margin | 3.2% | 9.5% |
| Operating cash flow | $73.5M | $104M |
| Free cash flow | $64.7M | $93.9M |
| Market value | $24.2B | $5.7B |
| P/E | — | 41.9× |
| Analysts’ mean target | $52.07 | $34.64 |
Where the revenue comes from
Samsara
- Subscription revenue: $500M (98%)
- Other revenue: $8.7M (2%)
Waystar Holding
- Subscription revenue: $181M (56%)
- Volume-based revenue: $143M (44%)
- Implementation services and other revenue: $2.0M (1%)
Questions
Which is bigger, Samsara or Waystar Holding?
Samsara is the larger company: $508M of revenue in its latest quarter (Q2 FY27) against $326M for Waystar Holding (Q3 2026).
Is Samsara or Waystar Holding growing faster?
Samsara is growing faster (+30% against +21% a year earlier).
Which is more profitable, Samsara or Waystar Holding?
Waystar Holding is more profitable, with an operating margin of 18.8% against 1.0%.
More: Samsara earnings · how Samsara makes money · Waystar Holding earnings · how Waystar Holding makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 8, 2026; 10-Q filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.