SentinelOne Q4 Loss Widens; Stock Down 7%

Shares of SentinelOne, Inc. (S) slipped over 7% in extended trading hours on Tuesday after the company reported its results for the fourth quarter and outlook for the first quarter and full year 2023.

Net loss for the fourth quarter was $71.7 million or $0.27 per share, compared to $37.8 million or $1.00 per share last year. On a per share basis, loss narrowed due to higher number of shares outstanding in the quarter.

Fourth-quarter revenues surged 120% to $65.6 million from $29.9 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.18 per share and revenues of $60.68 million for the quarter. Analysts' estimates typically exclude one-time items.

Annualized recurring revenue increased 123% year-over-year to $292.3 million as of January 31, 2022. Total customer count grew more than 70% year-over-year to over 6,700 customers as of January 31, 2022.

"We delivered ARR growth in the triple digits for a fourth consecutive quarter. Our extraordinary performance was driven by the strength of our XDR platform coupled with relentless focus on innovation and execution," said Tomer Weingarten, CEO of SentinelOne. "With our planned acquisition of Attivo Networks, we're excited to add leading identity threat detection and response to our Zero Trust capabilities."

Looking forward, the company expects revenues of $74 million to $75 million and $366 million to $370 million for the first quarter and full year 2023, respectively. Analysts currently estimate revenues of $68.17 million and $346.17 million for the first quarter and full year 2023, respectively.

S closed Tuesday's trading at $30.89, up $1.34 or 4.53%, on the NYSE. The stock, however, slipped $2.18 or 7.06% in the after-hours trading.

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