SentinelOne (S) Posts First Results Since June IPO, Revenues Leap 121%
SentinelOne, Inc. (NYSE: S) reported mixed Q2 results in its first quarterly results as a public company. EPS came in at ($0.38), worse than the consensus estimate of ($0.20). Quarterly revenue increased 121% year-over-year to $45.8 million, beating the consensus estimate of $40.4 million.
The cybersecurity company’s annualized recurring revenue (ARR) grew 127% year-over-year to $198 million.
The total number of customers increased more than 75% year-over-year to over 5,400, with a 140% year-over-year increase in the number of customers with ARR over $100K.
The company achieved a record high net retention rate (NRR) of 129%, due to strong agent expansion, platform tier upsell, and product cross-sell.
SentinelOne also provided a solid outlook for the rest of the year. The company expects Q3 revenue of $49-50 million, versus the consensus of $45.78 million, and full 2022-year revenue of $188-190 million, versus the consensus of $176.01 million.
The company came public at the end of June at $46 per share and closed at $68.24 per share during the regular session.
Shares of SentinelOne are down 0.9% after-hours Wednesday.