In its first earnings report as a public company, cybersecurity firm SentinelOne (S) reported revenue growth above expectations, with adjusted profit in line with views. But S stock fell as analysts mulled the company’s outlook.
SentinelOne said it lost 20 cents a share in the July quarter, in line with Wall Street estimates. The cybersecurity firm said revenue rose 121% to $45.8 million, topping estimates of $40.4 million.
Annual recurring revenue increased 127% to $198 million, the company said. Analysts had estimated ARR of $186.4 million. The number of customers with ARR over $100,000 grew 140% year over year to more than 345 as of July 31.
For the October quarter, SentinelOne projected revenue of $49.5 million at the midpoint of its guidance. Analysts had estimated revenue of $45.7 million.
S Stock: Competition Intensifies With CrowdStrike
SentinelOne stock slipped 0.4% to 67.95 during extended trading on the stock market today.
The SentinelOne initial public offering in late June raised $1.2 billion with shares priced at 35. Shares in the cybersecurity firm hit an all-time high 73.47 on Tuesday. S stock fell 3.9% in Wednesday’s regular session as the Nasdaq also retreated.
In addition, heading into the SentinelOne earnings report, S stock was extended from an IPO base entry of 54.15.
SentinelOne makes cybersecurity solutions powered by artificial intelligence. Its offerings cover prevention, detection, response and hunting across endpoints, containers, cloud workloads, and Internet of Things devices from a single autonomous platform.
Meanwhile, its competitors include CrowdStrike Holdings (CRWD).
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