logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Stocks staged a significant recovery attempt after pulling back sharply in early trading on Wednesday but still ended the day modestly lower. The major averages gave back ground after moving sharply higher over the two previous sessions. Three scientists have shared the Nobel Prize for Chemistry for their work that led to the development of linking molecules together, known as click chemistry, and bioorthogonal chemistry. Morten Meldal and K. Barry Sharpless have laid the foundation for a functional form of chemistry - click chemistry - in which molecular building blocks snap together quickly and efficiently. Carolyn R. Bertozzi The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector.
RELATED NEWS
Follow RTT