SentinelOne will report 1Q23 earnings on June after the market closes.
Cybersecurity firm - protects endpoints, workloads, data; looks to automate
responses rather than waiting on response teams.
SentinelOne went public during FY22.
CEO: Tomer Weingarten, CFO: Dave Bernhardt, COO: Nick Warner.
Investor relations: [https://investors.sentinelone.com/overview/default.aspx](https://investors.sentinelone.com/overview/default.aspx)
Here's a brief summary of what they reported last quarter:
* Revenue: $$65.64M which was 119.8% YoY and 17.2% sequentially. 6.7% beat over forecast of $61M
* ARR: 123% growth reaching $292M. $56M net new ARR.
* Customers w/ ARR > increased 137% to 520.
* In Q4 S closed the largest deal in the history of the company
* Leader in 2021 Gartner Magic Quadrant for endpoint protection
* Highest score in Gartner Critical Capabilities use cases
* Only vendor w/100% visibility and 0 misdetection in latest MITRE eval.
* Named "best fit" for companies wanting customizable growth for XDR in Forrester XDR Wave
* FY22 saw 6,700 customers, growth > 70%
* 140% international growth = 31% of revenue
* Non-GAAP GM = 66% ? 12% YoY
* Non-GAAP OM = -66% (last year = -104%), 38 pnt improvement
* Stated selling strategy is to sell the complete platform at once.
Their products are modular. My assumption is expansion comes from adding seats
- it is not clear to me if they have add-ons after a platform sale.
**GUIDANCE**
* Q1 expect $74M - $75M, 99% growth @ $74.5M
* FY23 expect revenue of $366M - $370M, growth of 80% @ $368M
* Expect 23Q1 non-GAAP GM 63% - 64%, FY23 GM 65% - 67%
* Expect Q1 non-GAAP OM -84% to -86%, FY23 OM -55% to -60%
Also of importance: SentinelOne Completed negotiations to acquire Attivo
for $617M in cash & stock. The deal is expected to close in 2Q23. Attivo
is expected to be accretive but has not been factored into FY23 forecast
at this time. Attivo has over 300 customers. ARR of ~$30M growth >50%,
Expect revenue ~$40M. Attivo brings capabilities around cyber-security
of identities to the SentinelOne platform.
Also, Gross Margin has been under pressure due to customer migration to
the DataSet product. This pressure is expected to ease during the second
half as the last customer migrations complete.
Separately - I would very much appreciate it if one of the readers of the
board who has a good grasp of cyber-security products would do two things
with respect to SentinelOne, Crowdstrike and Zscaler:
1) Summarize the offerings and functionality of the major product offerings
2) Summarize the gaps and overlaps between the three companies. I envision this as table:
| Function 1 | Function 2 | Function 3 | . . .
________________________________________________________________
S | | | |
________________________________________________________________
CRWD | | | |
________________________________________________________________
ZS | | | |
________________________________________________________________
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