SentinelOne lifts guidance after swinging to surprise profit in Q3

By Yasin Ebrahim

Investing.com -- SentinelOne (NYSE: S) lifted its full-year guidance Tuesday after swinging to an unexpected profit in the third quarter of the year as revenue doubled, driven by strong cybersecurity demand.

SentinelOne fell 0.6% in afterhours trading following the report.

The cybersecurity firm reported adjusted earnings per share of $0.16 on revenue of $115.32 million, topping analyst estimates for a loss of $0.25 and revenue of $95.7M.

The unexpected profit was driven by a 106% surge in revenue, fueled by strong adoption of the company's cloud offering.

Looking ahead, the company forecast Q4 revenue of $125M and full-year revenue of $420M to $421M, compared with estimates for $124.6M, and $416M, respectively. The company previously forecast full-year of $415M to $417M.

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