SentinelOne Q3 Loss Widens, Stock Plunge 11%

California-based cyber security provider, SentinelOne, Inc. (S), reported a wider loss year-over-year in the third quarter. However, the company managed to beat the Street view.

SentinelOne reported a net loss of $68.56 million or $0.26 loss per share, compared to $30.15 million or $0.85 loss per share in the same quarter last year.

On an adjusted basis, the loss was $39.95 million or $0.15 per share, compared to $25.56 million or $0.72 loss per share last year. On average, 13 analysts polled by Thomson Reuters estimated the loss to be $0.18 per share.

The company reported a 128% increase in revenue to $56 million from $24.60 million last term. The boost in revenue can be primarily attributed to a 60% year-over-year growth in customers and also a 140% increase in customers who pay more than $100 thousand annually to 416. Analysts expected revenue to be $49.57 million.

For the fourth quarter, the company expects revenue in the range of $60 million and $61 million while for the full year, the estimate is $199 million to $200 million. Analysts forecast the revenue to be $56.52 million for the next quarter and $189.35 for the full year.

Tomer Weingarten, CEO of SentinelOne said, "Customers continue to choose Singularity XDR because of our protection, detection, response, and automation capabilities."

Following the report, the stock of the company plunged to $45.62, down $05.42 or 10.62% in the aftermarket session after closing at $51.04 during the regular trading.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT