SentinelOne Tumbled Over 37% in Premarket Trading for Its Disappointing Financial Results and Planned Layoffs

Tiger Newspress2023-06-02

SentinelOne, Inc tumbled over 37% in premarket trading for its disappointing financial results and planned layoffs.

It reported a loss of $106.9 million, or 37 cents a share, on sales of $133.4 million, up from $78.3 million a year ago. After adjusting for stock compensation and other effects, the company reported a loss of 15 cents a share, improving from an adjusted loss of 21 cents a share a year ago.

Moreover, a SentinelOne spokeswoman confirmed that the cost cuts will include layoffs of about 5% of the company, which she said would equal fewer than 100 employees. In its most recent annual filing with the Securities and Exchange Commission, the company reported having 2,100 employees as of Jan. 31.

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Comments

  • BitcoinMaxi
    2023-06-02
    BitcoinMaxi
    This company has a future potential being in cyber security industry. This dip is a buy opportunity. 
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