Mountain View, California – SentinelOne Inc. (NYNYSE:E:S) reported first-quarter financial results showing GAAP earnings per share of -$0.23, missing analysts’ estimates by $0.18.
However, the cybersecurity company’s revenue rose significantly year-over-year (YoY) by 40%, reaching $186.4 million for the quarter, beating the consensus estimate of $181.11 million.
Despite strong revenue growth, SentinelOne’s share price fell 7.8% after the earnings announcement.
CEO Tomer Weingarten (NYSE:) highlighted the quarter’s success, saying, “We achieved extraordinary revenue growth of 40% and our first-ever positive free cash flow quarter, representing a major milestone in our growth journey.” Weingarten also emphasized that advances in artificial intelligence are a key factor in rethinking cybersecurity standards.
Looking ahead, SentinelOne provided guidance for the second quarter of fiscal 2025, expecting revenue to be about $197 million, slightly below the analyst consensus of $197.7 million. For full fiscal 2025, the company expects revenue to be between $808 million and $815 million. , with the midpoint coming in below the consensus estimate of $817.3 million.
The company’s Chief Financial Officer Dave Bernhardt expressed confidence in maintaining best-in-class growth rates, noting the 11th consecutive quarter of more than 25 percent improvement in operating margins and strong positive free cash flow. Bernhardt’s announcement reflects the company’s expectations for continued financial improvement and market leadership.
As of April 30, 2024, SentinelOne reported cash, cash equivalents and investments totaling $1.1 billion. The company’s annual recurring revenue (ARR) also grew 35% to $762 million, and the number of customers with an ARR of $100,000 or more increased 30% to 1,193.
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