Everyone here has a lot to be proud of, especially how quickly we've scaled in just the past year alone. According to a Bloomberg report from early March, the company is hoping for an even higher market value, of $10 billion. Enterprises represent about two thirds of our business today, and we're gaining even more traction. The massive growth in the number of networked devices, a trend which will only accelerate with the adoption of 5G and the expansion of the internet of things (IoT), has given employees and users many new ways to access servers and information. Thank you. That's over 2000 more than last year. As it relates to some of the $1 million ARR customers that you landed. SentinelOne has been growing at triple-digit rates but is slowing down. According to its prospectus, revenue grew 108% in the latest quarter ending in April to $37.4 million, while its net losses more than doubled from $26.6 million to $62.6 million. Every edge of the network must be secured. Can you just maybe help shape what's happening when these when these transactions are getting evolved and what you're seeing with overall expansion of deals? Got it. Great, and appreciate you guys taking my question. Nothing is trivial. Putting all of this together, cybersecurity has never been more critical and more challenging for the enterprise. The biggest benefits are coming from our increasing scale and business expansion. "It will eventually be a complete reimagination of the network by the data collected and by the XDR platform.". Tomer Weingarten is the CEO and co-founder of SentinelOne. It was a lot of hard work, he said. And where do you see it kind of going in the next year coming off the IPO? What type of capacity, you see going forward in terms of your ads for the next couple of quarters? Let me share some more detail from the quarter. Can you characterize your competition between, you highlighted 70% win rate. Definitely on the enterprise side, weve seen more lends with our complete tier, actually were more attached to ranger, more attached to vigilance, more attached to data retention. Thank you very much. Thank you, Tomer, and I'd also like to welcome everyone. We're helping our customers stay ahead of all adversaries, prevent breaches and autonomously respond through innovation. SentinelOne, Inc. (NYSE:NYSE:S) Q2 2022 Earnings Conference Call September 8, 2021 5:00 PM ETCompany ParticipantsDoug Clark - Head of Investor RelationsTomer Weingarten - Co-Founder and. With Rob Owens [Piper Sandler], you may proceed. We will now begin the question-and-answer session. Thanks. We support and enable their business. Mr. Weingarten also previously served in various roles at Mckit Systems Ltd., a provider of information and knowledge management systems in Israel, from March 2005 to April 2007. I mean, you mentioned real quick the duplicative costs associated with the Scalyr migration. About seven years ago, my co-founder and I started looking at what type of solutions enable enterprises to figure out where the attack landscape is headed. In closing, Q2 was an excellent quarter with strong execution, and we're expecting that momentum to continue into the second half of the year. Weingarten has referred to CrowdStrike as its main competitor. CrowdStrike is much larger than SentinelOne. This ratio reflects expectations about the companys rate of growth, the market it operates in, the efficiency of its operations and other factors. And we're already seeing demand for Auto Deploy, which helps secure a million dollar customer win in Q2, where we replaced legacy AV in one of our other major next gen competitors. He was recognized for his breaking news coverage of the August 2019 coordinated ransomware attack against local governments in Texas as well as for his continued reporting around the SolarWinds hack in late 2020 and early 2021. Hi, and this is Nick here. 12 -, ? : , . We definitely see the ability to expand into other footprints in the enterprise, almost every account that we land. What we're also finding is at time of sale for new customers, they're predicting landing with a complete package with other modules as well. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. Next, I'll share some insights on our go-to market. He also has developed various online courses, such as for the COBOL and Python programming languages. Ranger Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. What we do today will be transitioned into more remote and virtual settings, which will lead to more exposure of attack surfaces for hackers and criminals. It's a big difference on what the others are doing in this space. Thank you for attending SentinelOne Second Quarter 2022 Earnings Conference Call. See Also: OnDemand | Navigating the Difficulties of Patching OT. "The rest of the competitors have just chosen an architecture that is not well received by a lot of the cloud-native companies that are looking to secure their cloud environments," Weingarten says. Before SentinelOne, Tomer led product development and strategy for the Toluna Group as a VP of Products. In recent years, following the decline of players like McAfee and Symantec, this market has undergone an upheaval. In the shareholder letter, we've reiterated our long-term margin targets. Our channel partners are bringing us into an increasing number of opportunities, giving our sales teams access, scale and reach around the globe. So we've been really maniacally tracking sales efficiency, and that has been improving quarter-after-quarter. Certainly. But we thought that an IPO was critical. I think it's just fair to ask the question, if you can refer to their statements and announcements on this customer? Cloud Security Even after backing out the $10 million and acquired ARR from Scalyr, our organic growth was still well into the triple digits. Thank you. National Institute of Standards and Technology (NIST), SentinelOne's Tomer Weingarten on Cloud, XDR and Analytics, Need help registering? Prior to joining us, Ms. Ghatak led HR globally as Vice President, People at Nevro Corp., a global medical technology company, from April 2017 to April 2020. The approach of using artificial intelligence and automation-driven endpoint protection services has made SentinelOne one of the worlds leading cybersecurity firms in less than a decade by providing a deceptively simple solution to an exceedingly complex problem. Turning to the business, in Q2, our ARR growth accelerated to 127% year-over-year and our revenue was up 121%. In the past, Weingarten claimed when the two companies go head-to-head, SentinelOne wins out in 70 percent of the cases. And just remember that what youre building is for the customer and end-user. Our customers are diverse in size, scope and geography. Next, success with AI would not be about having huge amounts of data either. Now we'll discuss our costs and margins and then provide our guidance outlook. Any forward-looking statements made during this call are being made as of today. Our growth is very well balanced across new and existing customers, as well as large and mid-sized enterprises. Novinson is responsible for covering the vendor and technology landscape. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. 02:14. Please refer to the documents we file from time to time with the SEC in particular, our S-1 and our quarterly report on Form 10-Q. As we look at customer acquisition, typically who are you going up again? And is this coming from an expansion in seats? While building the AI system, Weingarten learned some important lessons. Our website uses cookies. Thank you. Mr. Ashkenazi holds a B.S.C.S. Well, you will encounter challenges to overcome on a daily basis. Hot Topics 27 Febbraio 2023 | Nuove nomine di executive in SentinelOne; 27 Febbraio 2023 | Artemis nomina Alex Stanic nuovo Head of global equities; 27 Febbraio 2023 | Candriam: nuovo accordo con il Gruppo Sella; 27 Febbraio 2023 | Garbe industrial Real Estate Italy nomina Sara Labrini nel ruolo di Senior Technical Development Manager; 27 Febbraio 2023 | Massimo Braganti nominato Direttore . So all in all, we feel pretty good about our market presence in the channel ecosystem. First automation, automation is key to neutralizing threats effectively and in real-time. And we intend to do the same also on the mid-market where we enable our channel ecosystem to carry more than just endpoint protection and several cloud security. They tend to be similar, standardized and open source. For us, it really is a good mix. Remember that what youre building is for the customer and the end user. And so that's the right way to think about our global field presence is adding all of those folks up and understanding that each time we're adding a partner behind that are hundreds of sales reps, doing 2000 plus accreditations to date, that's really building that flywheel, but we're absolutely going to continue to invest in our own SentinelOne personnel as it relates to go-to-market. It's now 10. Tom (@ttaulli) is an advisor/board member to startups and the author of Artificial Intelligence Basics: A Non-Technical Introduction, The Robotic Process Automation Handbook: A Guide to Implementing RPA Systems and Implementing AI Systems: Transform Your Business in 6 Steps. What are you sort of seeing in terms of new customers and existing customers in terms of the peers that they're sort of opting for? Building a very robust and fanatical customer base is the most important thing. But again infection, that's something that's unacceptable. Good afternoon everyone and welcome to SentinelOne's earnings call for the second quarter of fiscal year 2022 ended July 31st. Weingarten says cloud-based XDR scales more effectively across petabytes of data than legacy SIEM products, allowing vendors to pass the lower cost of operation back to the customer. In Q3, we expect revenue of $49 million to $50 million, reflecting growth of 102% at the midpoint. Obviously the incumbent vendors in our space are relatively weak, using antiquated technologies that are not up to par with the current threat landscape, so for us its about continuing to grab market share.. Ms. Tomasello has over 20 years of experience in the accounting industry. I'm just wondering, ultimately how much of an opportunity there is that those customers for additional purchases? Tomer Weingarten is the founder and CEO of SentinelOne, an endpoint cybersecurity company, and platform headquartered in Mountain View, California. Tomer just sort of talked about this just briefly in the last question, but I was wondering if you could just double click a bit on the mix of customers across the different singularity peers specifically core control and complete. in Economics from Delhi University in India and an M.A. But even when it was back at Sentinel Ones level, it was growing faster, with revenue growth of 140 percent compared to the previous year. The first item is share count. The next question is from Alex Henderson with Needham. And with our vision of XDR being open, being inclusive, being easy to use, what we're really doing is up-levelling the capabilities of those traditional and already installed products, adding tremendous value with the Singularity platform, but weaving that all in together to a complete and holistic view of security, which is really the promise that we're delivering upon with XDR. On Wednesday's episode of "Mad Money," SentinelOne CEO and co-founder Tomer Weingarten discusses the cybersecurity firm's fiscal second quarter 2022 results. The company raised close to $700 million over eight rounds of funding. Before we begin, I would like to remind you that during today's call, we'll be making forward-looking statements regarding future events and financial performance, including our guidance for the third fiscal quarter and full fiscal year 2022, as well as certain long-term financial targets. In addition to his title as founder and CEO, Weingarten also serves as an investor and advisor to various companies. Before launching the company in 2013, he had helped to create several other tech startups. Thanks. During this call, unless otherwise stated, we will discuss non-GAAP financial measures. There are currently more than 4,700 customers and a majority of them are large enterprises. In Q2, we added Storyline Active Response, or STAR. We also expanded our marketplace ecosystem through new partnerships with Zscaler and Cloudflare, partnering with other zero trust leaders strengthens our customers' security postures. But even today, CS is growing at a rate of 74 percent, a very high rate for a company its size. Thank you. Yes for sure. And I think that's why you see customers its scale against multi-million dollar ACVs shifting away. He is responsible for the company's direction, products, and services strategy. We know that most of the incumbent solutions that were there around seven years ago, like antivirus and firewalls, are very antiquated ways of protecting assets that just dont cut it in the modern attack landscape. In Q2, we added over a dozen additional IR partners and are bringing more online in Q3 and beyond. Obviously, we're very enthusiastic about our top line drivers. We added the highest number of million dollar ARR customers this past quarter. There are lots of things to understand, even the political ecosystems within the environments of customers who will eventually procure your product. And specifically, when we talk about cloud security, we talk about workload protection platform and runtime protection. These companies are more identified with firewall solutions. Prior to joining SentinelOne, Ms. Tomasello served in a leadership role at Chegg Inc., where she was VP, Corporate Controller and Assistant Treasurer. Please disable your ad-blocker and refresh. I want to pause on that for a second. Tomer Weingarten, CEO of SentinelOne, joins "Squawk on the Street" to discuss the company's IPO and cybersecurity business. The growing threat landscape is just one of them. One thing I would add to that, this is Nick here is, from a budget perspective. Appreciate the colors. And as Nick mentioned in the prepared remarks, our ability to now signup most of the incident response providers, most of the leading incident response providers in the U.S. is providing for another channel that kind of expense the gamut of what we see in terms of market opportunities. But the vast majority of what we see, it's, it's absolutely taking market share from the incumbents. This year, more than ever before because of the Covid-19 pandemic, huge droves of workers and consumers have been turning to the internet to communicate, get things done, and entertain themselves. Thank you. At the same time, we moved to a hybrid work environment. Okay. And with that, let me turn it over to Tomer Weingarten, CEO of SentinelOne. But interestingly enough, the timing was too early. Obviously there are areas that are, economically more viable in terms of full strategy. So it's incredibly easy to consume. Its a huge undertaking. Hey guys, congrats on a great quarter. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses. Materials that are as of a specific date, including but not limited to press releases, presentations, blog posts and webcasts, may have been superseded by subsequent events or disclosures. 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