SentinelOne 2Q Revenue up 21% on Robust Cybersecurity Demand

Dow Jones04:46

SentinelOne reported a sharp increase in second-quarter revenue and bumped up its top-line guidance for the year on continued strong demand for its cybersecurity offerings.

The cybersecurity company on Thursday reported a loss of $93.4 million, or 27 cents a share, compared with a loss of $72.1 million, or 22 cents a share, in same quarter a year earlier. The results included $24.4 million in expenses from a recent restructuring that cut about 8% of full-time workers.

Adjusted earnings came in at 8 cents a share, a penny ahead of the 7 cents a share expected by analysts, according to FactSet.

Revenue rose 21% to $292 million, falling short of analyst expectations for $295.5 million.

For the current year, SentinelOne now expects revenue between $1.20 billion and $1.21 billion, up slightly from its prior guidance. It now expects adjusted per-share earnings between 30 cents and 32 cents, down from its prior view for between 32 cents and 38 cents, in part due to a larger share count.

For the current quarter, Sentinel expects revenue between $309 million and $311 million and adjusted per-share earnings between 8 cents and 9 cents. Analysts were looking for revenue of $324.6 million and adjusted earnings of 11 cents a share.

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