Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. 12 -, ? : , . twitter, follow us on
But even when it was back at Sentinel Ones level, it was growing faster, with revenue growth of 140 percent compared to the previous year. That puts the company behind nearly every other leading endpoint security vendor, including Trend Micro, Trellix, Sophos, CrowdStrike and Broadcom, according to IDC. From there, Weingarten hopes to introduce a high degree of automation around the data that's collected to improve security operations, not just on the endpoint or cloud but also around the network and email. In the shareholder letter, we've reiterated our long-term margin targets. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. I think thats something that we try to instill as our company culture. Ms. Ghatak also represents SentinelOne as an active sponsor of WiCys. This is truly a testament to the hard work of the entire team at SentinelOne. Yes. Obviously the incumbent vendors in our space are relatively weak, using antiquated technologies that are not up to par with the current threat landscape, so for us its about continuing to grab market share.. Can you just maybe help shape what's happening when these when these transactions are getting evolved and what you're seeing with overall expansion of deals? How is that coming to play and also pricing differences. And just my follow-up question. At the same time, top scores from MITRE ATT&CK, the industry standard test for EDR, as well as the high score in the Gartner Critical Capabilities for each buyer type have helped build credibility in industry recognition. We feel as far from it and it can vary significantly. Identity protection, XDR, data analytics and cloud security have been SentinelOne's biggest areas of investment during 2022, according to co-founder and CEO Tomer Weingarten. Today, I think we've shared that it's already about 10% contribution into our revenue is coming from the, cloud and server protection pieces that we sell, and we're seeing more and more traction in cloud security. What type of capacity, you see going forward in terms of your ads for the next couple of quarters? I believe for us it's really about the holistic approach we're taking that allows us to win both, I guess, incumbents and against the next gen peers. But interestingly enough, the timing was too early. Anyone interested in SentinelOne, Inc. should probably be aware that the Co-Founder, Tomer Weingarten, recently divested US$176k worth of shares in the company, at an average price of US$16.70 each.That sale was 26% of their holding, so it does make us raise an eyebrow. It jumped in Q2 to above 70. improve their organizations' risk management capabilities. Both companies have one figure thats identical their dollar-based net retention rate, which reflects growth in revenues from existing companies. in Computer Science from the University of Arizona and an M.B.A. from the Wharton School of the University of Pennsylvania. We've also begun transitioning our data back into Scalyr for new proof-of-concept deployments, onboarding new customers at scale. [Operator Instructions] The first question is from the line of Hamza Fodderwala with Morgan Stanley. The most surprising figure is SentinelOnes gross profit margin, which stood at 56 percent last four quarters. "It's going to be tough for other vendors to follow anytime soon," Weingarten says. One, our 97% gross retention rate, which means our customers are happy and staying with us. And we're definitely seeing more market presence. Our ecosystem of IR partners are armed with the best technology available when it comes to rapidly recovering from a breach. We added the highest number of million dollar ARR customers this past quarter. I wouldn't call it necessarily a refresh recycle just because there are so many different secular trends that they are pushing it towards just modernize environments and the ability to extend into every part of what is now a completely flexible parameter versus the parameter that we've seen in the past was a maybe kind of a firewall downed today that's completely dissolved today to device to cloud. When we started, we had 35 competitors, said the companys founder and CEO, Tomer Weingarten, in an interview with the business daily Globes a year and a half ago. Haaretz.com, the online English edition of Haaretz Newspaper in Israel, gives you breaking news, analyses and opinions about Israel, the Middle East and the Jewish World. A lot of what we do is still related to the concept of the network, but I think thats rapidly changing. We listen to our customers adding even more automation capabilities. So its not inconceivable that its technology is actually more expensive, due to the need for more computing power, whether they are service provider or not. A human powered 1-10-60 benchmark is a legacy model. This ratio reflects expectations about the companys rate of growth, the market it operates in, the efficiency of its operations and other factors. CrowdStrike highlighted on the last call that they won Workday from you and they highlighted false positives and reasons why they said that this customer switched to them. Tomer Weingarten is our co-founder and has served as our Chief Executive Officer and a member of our board of directors since our inception in January 2013, as our President since November 2018, and as our Chairman of the Board of Directors since March 2021. Its listening on one end, grabbing as much data as you can, taking that data, distilling it, and building the best prediction that you can for the future and for your product. The American company has 11,400 customers, including 61 Fortune 100 companies and 214 Fortune 500 ones. So it's not only about protecting those attack surfaces, it's also about ease of deployment and simplicity of use. I think were going to see some major leaps in how everyone conducts business on a global scale. The next question is from Alex Henderson with Needham. What are you sort of seeing in terms of new customers and existing customers in terms of the peers that they're sort of opting for? This was definitely a major validation of the AI approach. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. Security Operations. You may proceed. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. At SentinelOne, Tomer Weingarten has 36 colleagues including Dan Schienman (Director), Ana Pinczuk (Director) . Operator, can you please open up the lines for questions? We grew customers with ARR over $100,000 by 140% versus last year. Contact support, Complete your profile and stay up to date, Need help registering? LinkedIn, follow us on
Weingarten argues that the older companies trying to enter this field are no longer the right address. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. Hey guys, congrats on a great quarter. For me, writing code and building software products is the way I express myself. Your feedback and trust puts us on the winning side of cyber warfare every day. SentinelOne's IPO pulls together cybersecurity official Christopher Krebs, CEO Tomer Weingarten, and hedge fund titan Dan Loeb. The Mountain View, California-based company was founded in 2013 by Israelis Tomer Weingarten, its CEO, and Almog Cohen. Thank you. I was hoping you could just talk a little bit about kind of the broader distribution channel a bit. Ultimately, when you examine the numbers behind SentinelOnes operating structure, you can see that the company is less efficient and will continue to be so in the future, to the detriment of shareholders. But at the same time turn into more of a preventative approach where I'm not saying that you can prevent everything, but you can absolutely do a better job on prevention and really stop that firefighting mode or improve it significantly. The focus instead should be on having the right data that produces signals that can be modelled. So we really think about growing the business from a new model perspective, as well as learning to extend, someone asked a question on that the answer is yes, we're doing both. The colleagues of Tomer Weingarten. After speaking with CEO, Tomer Weingarten, a few hours prior to its IPO, I see three reasons to consider buying the stock: To be sure, there are risks to buying it now. Youre building it for the benefit of the world at the end of the day. You may proceed. (I have no financial interest in the securities mentioned in this post). Being public also helps with the trust of customers. Learn the fundamentals of developing a risk management program from the man who wrote the book We are [investing to] acquire new market share while improving unit economics by operating in a more efficient manner.. SentinelOne not only provides native protection around endpoints, cloud workloads and identity but also can ingest data from any other product in the customer's enterprise, Weingarten says. And just remember that what youre building is for the customer and end-user. We enable and embrace the channel. It's two quick questions for you. Were on the path to becoming a public company, and thats what were building the company towards. We took our technology to securing IoT devices, the datacenter, and even containerized cloud workloads. We knew from the beginning that the best solution would have to harness the power of data and AI. Tomer Weingarten, co-founder and CEO, SentinelOne (Image: SentinelOne) Identity protection, XDR, data analytics and cloud security have been SentinelOne's biggest areas of investment during 2022 . Mr. Srivatsan holds a Bachelor of Technology from the Indian Institute of Technology, Bombay, an M.S. Absolutely. Thanks. How so? Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses. Given the level of rivalry in this industry, it would be worth waiting to buy this stock until it becomes clearer whether SentinelOne can grow faster than investors expect. And end-user Schienman ( Director ), Ana Pinczuk ( Director ) global scale our non-GAAP gross in. University of Arizona and an M.B.A. from the Indian Institute of technology, Bombay, an M.S, of! 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