SentinelOne Inc. (NASDAQ: S) stock gained by 13.40% at the last close whereas the S stock price declined by 8.41% in the pre-market trading session. SentinelOne is a Mountain View, California-based cybersecurity start-up. Tomer Weingarten, Almog Cohen, and Ehud Shamir launched the company in 2013. Weingarten serves as the company’s chief executive officer. The company’s COO is Nicholas Warner.
SentinelOne stock’ Financial Highlights
SentinelOne announced financial results for the third quarter of the fiscal year 2022. Given below are the highlights:
- For Q3 of the fiscal year 2022, total revenue was $56.0 million, up 128 percent from $24.6 million in the same period of the fiscal year 2021.
- As of October 31, 2021, annualized recurring revenue (ARR) had climbed by 131% year over year to $237 million.
- As of October 31, 2021, the total number of clients had increased by more than 75% year over year to over 6,000. As of October 31, 2021, the number of customers having annual revenue of above $100,000 had increased by 140 percent year over year to 416. The dollar-based net revenue retention rate surpassed 130 percent for the first time.
- In the third quarter of the fiscal year 2022, GAAP gross margin was 64 percent, compared to 58 percent in the same time of the fiscal year 2021. Non-GAAP gross margin was 67 percent in fiscal 2022, compared to 58 percent in fiscal 2021.
- For Q3 of the fiscal year 2022, GAAP loss from operations was $67.4 million, compared to $29.7 million in the same period of the fiscal year 2021. However, in Q3 of 2021, the non-GAAP loss from operations was $38.7 million relative to $25.1 million in the same quarter of the fiscal year 2021.
- As of October 31, 2021, they had $1.7 billion in cash, cash equivalents, and short-term investments, which comprises roughly $1.4 billion in net proceeds from their first public offering and concurrent private placement after deducting underwriting discounts and fees.
Tomer Weingarten, CEO of SentinelOne stated that,
Due to their protection, monitoring, response, and automation capabilities, customers continue to pick Singularity XDR. Their company is doing exceptionally well. This is the third quarter in a row that ARR has increased by double digits. They made progress on all fronts of their growth strategy, which was laid forth during the IPO.