These non-GAAP measures are not intended to be a substitute for our GAAP results. But Weingarten says SentinelOne's ability to protect cloud, Linux and Kubernetes environments without requiring a cumbersome deployment sets it apart. Welcome everyone and thanks for joining our first earnings call as a public company. Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. The proof of concept demo I went through before selecting this product was thorough and set us up for success when we did decide to continue our relationship with CrowdStrike., They also love the SentinelOne Singularity Platform. Looking further the older ransomware attacks, unfortunately this isn't new and it isn't going away and it's impossible to ignore. Over the last eight years at SentinelOne, we've developed AI and machine learning models built patented storyline technology and created an in-house cloud data platform. Okay. One compromised printer can quickly become an adversary's home base for an attack. SentinelOne CEO Tomer Weingarten in an exclusive interview with @Nasdaq. For us it's about technology. 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. But also you can probably, probably see the same type of buying motion in the enterprise as well were conducting the DLC, deploying the platform is becoming easier and easier in all in the cloud delivered fashion. Getty/SentinelOne. The reality was that traditional systemssuch as those based on human-powered signatureswere failing even more. We caution you that such statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially. Across the entire enterprise from endpoint to cloud companies want partners and platforms not siloed point solutions. In the latest development, an Israel-hatched, [], As cybercrime continues to evolve and expand, a startup that is building a business focused on endpoint security has raised a big round of funding. I was hoping you could just talk a little bit about kind of the broader distribution channel a bit. What type of capacity, you see going forward in terms of your ads for the next couple of quarters? After all, lockups will expire creating downward pressure on the stock as early investors sell. We started thinking about the right approach to building security for the future. Now its true that SentinelOne faces intense competition. The property, on just over an acre in the Country Club. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. There's a lot more detail in our shareholder letter, which I welcome you to view on the Investor Relations section of our website. SentinelOne is growing fast and losing money. We equip them with industry-leading capabilities and in return we get tremendous market access and scale. We feel better competitive environments more, that's for sure. And that is what our platform is incredibly unique in that the advantage of AI and machine learning. Yes, hi there. So we obviously look for global talent everywhere. So all in all we feel the potential is quite significant. The company's approach to the cloud limits trade-offs between performance and security and, unlike competitors, embraces an architecture that's compatible with the needs of cloud-native companies. I think that is what the ideal is," Weingarten says. And specifically, when we talk about cloud security, we talk about workload protection platform and runtime protection. Two years ago, the American company CrowdStrike held its initial public offering, which valued it at almost $7 billion. 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. Thank you, Tomer, and I'd also like to welcome everyone. And that drives adoption as well. And now we're seeing I think, of just increasing increase in accelerated attraction across the board, both in partners and with customers, with sales cycles and with competitive win rates. Can you talk to us maybe from the quantitative or maybe just from a qualitative perspective on the LTV of cohorts over the past few quarters now going to say even a few years, specifically on the heels, or the fact that, your deal with a greater than 1 million have been fantastically on the rise out of the late. And for us, I mean, you can take a more prevention first approach. Our net retention rate was the highest it's ever been at 129%. Earlier this year, we rolled out a new channel partner training and accreditation program. "Up until this point, it was mostly promises and in buzzwords. You may proceed. But again infection, that's something that's unacceptable. Qualcomm products referenced on this page are products of Qualcomm Technologies, Inc. and/or its subsidiaries. To us prevention is the fundamental component of modern day cybersecurity. The secondary of focus is around zero trust. What do you think one for Tomer, to what extent does that validate your technology given that you're partnering with other next-gen vendors on the network security side? Now for our outlook for Q3 and the full fiscal year. Putting all of this together, cybersecurity has never been more critical and more challenging for the enterprise. In our world, what we see changing dramatically is the proliferation of IoT devices and the dialogue between devices in the cloud. This was definitely a major validation of the AI approach. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. (I have no financial interest in the securities mentioned in this post). I realize we're running long here, but wanted to add a second question. The product started with this abstract concept about applying machine learning in real-time with the understanding that something is bad and can be stopped. So our thesis was that we can create a piece of security technology thats incredibly autonomous, works by itself, makes decisions without human intervention, and does it at scale. I guess relative to the question, partner retention results. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. But no one is showing them how - You may proceed. The more conversations you have with your target market customers, the better you design your solution. In the shareholder letter, we've reiterated our long-term margin targets. ARR of nearly $200 million and growing 127% is nothing short of astounding. Equally important, is you really have to have some foresight and an understanding of the problem domain. It's a big difference on what the others are doing in this space. Thank you. But we thought that an IPO was critical. So we really think about growing the business from a new model perspective, as well as learning to extend, someone asked a question on that the answer is yes, we're doing both. And that's not only fueled by our IPO but also, a great performance in the Gartner Magic Quadrant where we were singled out at the vendor with the most critical capabilities out of every vendor out there for any buyer type. And I think if you're looking at all these incumbent vendors and incumbent footprints, obviously there's massive, massive amounts of breaches there. Our decision was to create a solution that doesnt just observe but reacts and deflects in real time. And with that, let me turn it to Nick Warner, our Chief Operating Officer. You may proceed. When I think of growing up as a teenager, I was pretty impressed with Bill Gates story. 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? If you have an ad-blocker enabled you may be blocked from proceeding. twitter, follow us on And about pricing, is it is being cheaper than the next gen competition is the strategic strategic goal for you? These companies are more identified with firewall solutions. Thank you for attending SentinelOne Second Quarter 2022 Earnings Conference Call. Hi there. Ms. Tomasello has over 20 years of experience in the accounting industry. Were on the path to becoming a public company, and thats what were building the company towards. Cloud-native companies from social media networks to ride-hailing providers tend to be very mindful of what's being deployed into production environments, especially if the service they offer is entirely based on the cloud. Tomer Weingarten, CEO, and Co-Founder. Prior to Medallia, Mr. Smith served in various positions at Oracle Corporation, a products and services cloud technology company, including most recently as Senior Director of Engineering, from October 2009 to January 2016. Thank you. Sorry, just $10 million was it 1Q and does it. We even received a patent on this approach.. So they get up and running in seconds, they get a complete cloud tenant for themselves, the immediately deploy using guard discovering deployment services, and then, they leave the platform there for us to come in and monetize. SentinelOne has been growing at triple-digit rates but is slowing down. You may proceed. Okay. Even after backing out the $10 million and acquired ARR from Scalyr, our organic growth was still well into the triple digits. Cloud Security So we're going to continue to invest and build and grow our go-to-market teams. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. Our modules help customers with today's critical management protection and visibility challenges. SentinelOnes figure (85 percent last year) was the highest of them all. So that $10 million you pulled out of inorganic ARR fell in 1Q right? SentinelOne - founded by Almog Cohen and Tomer Weingarten. Attacks and threats are only becoming more sophisticated and more common and legacy solutions and human defenses just can't keep up. And just remember that what youre building is for the customer and end-user. 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. SentinelOne just raised $200 million in its latest round. If it beats expectations and raises guidance, I expect the stock to go up. It has to be flexible and automated and that means not just across the endpoint operating systems, but also IoT devices, servers, cloud workloads, and the data itself. Well, you will encounter challenges to overcome on a daily basis. Tomer, you mentioned IoT cloud and data center seem really good uptake. We expect the strong momentum we saw in Q2 to continue next quarter and our structural tailwinds to persist. During the quarter, we made strategic investments in preparation for becoming a public company, enhancing our product and scaling our go-to-market. Very helpful. 225% on $1 million deals, again, a good reflection of our traction in the enterprise. Seeing this thing called Microsoft its a software company and how you are basically just building something from code. Looking back, it took over three years to reach a $100 million in ARR and just three quarters to nearly reach the next $100 million. Thank you very much. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. Great. We dont feel like egos contribute to anything that we do. Are we seeing escalation and the prices of labor? Turning to the business, in Q2, our ARR growth accelerated to 127% year-over-year and our revenue was up 121%. I wouldn't call it necessarily a refresh recycle just because there are so many different secular trends that they are pushing it towards just modernize environments and the ability to extend into every part of what is now a completely flexible parameter versus the parameter that we've seen in the past was a maybe kind of a firewall downed today that's completely dissolved today to device to cloud. I mean, we feel like our traction in the enterprise and definitely 140% growth year-over-year and 100,000 deals and above is a good reflection of how much bigger we're landing in accounts. He says the company is expanding into critical areas such as cloud security posture management and cloud infrastructure entitlement management. Its going to be mostly a handshake between devices in the cloud at the end of the day. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. I'm wondering, if you could just give us any more color in terms of maybe how many agents those deals typically involve? 2021 Qualcomm Technologies, Inc. and/or its affiliated companies. Youre building for the benefit of the world at the end of the day. The chief information security officer of a Fortune 500 oil company captured it well saying SentinelOne's storyline technology fundamentally changes EDR. During her tenure at Chegg Inc., Ms. Tomasello guided the companys accounting team from its 2013 IPO through periods of extensive revenue growth. Weingarten says clients also save money since all data that's collected natively by SentinelOne's agents is stored for free regardless of whether it resides on the endpoint or in the cloud or is tied to user identity. For us, it really is a good mix. The next question is from Brian Essex with Goldman Sachs. and monitoring information security controls. Wed, Jun 30 202111:06 AM EDT. facebook, follow us on Since July 2016, Ms. Ghatak serves on the board of directors for Watermark, a non-profit dedicated to increasing the number of women in leadership and an active sponsor of WiCys (Women in Cybersecurity). Finally, for operating margin we expect negative 96% to 99% in Q3. I have a few questions I want to speak about competition. This is the new normal forcing the revolution of how we work, where we work from and fundamentally how we secure the future of work. At Tableau Software, Mr. Conder led the companys legal and regulatory affairs from its 2013 IPO through extensive growth and international expansion, including its acquisition, integration, and ongoing growth as a part of Salesforce.com, Inc. Haaretz.com, the online English edition of Haaretz Newspaper in Israel, gives you breaking news, analyses and opinions about Israel, the Middle East and the Jewish World. With regard to revenues, SentinelOnes numbers are only slightly lower than CrowdStrikes were back when it was the same size. That's because of vision, execution and listening to the needs of our customers. Additionally, we're also starting to see benefits from our renegotiated cloud hosting agreement, which we signed earlier this year to align with our expected growth. I'm just wondering, ultimately how much of an opportunity there is that those customers for additional purchases? We just announced that we'll be expanding our engineering excellence into the Czech Republic. documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. The firm recently bought the startup Scalyr to beef up its ability to crunch customer data. Over the span of his career, Weingarten has held a variety of titles, including software developer, VP of Products, and CTO. We're helping customers expand agent deployments, access more functionality with package tiers and adopt new module solutions. After two decades without a ratingsystem in Israel, at the end of 2012 an international tender for hotel ratingwas published. This is going to drive a lot of the challenges in securing the enterprise environment, and in turn, the data that all of us store with some of these enterprises. Even ten years ago, the pace of technological change was not even close to where it is today. Our press release and the shareholder letter were issued earlier today and are posted on our website. The CEO and cofounder of SentinelOne is Tomer Weingarten. Just remember thats the mission, thats why we wake up, thats why we build what we build. The only way to ensure safety and security is with zero trust. It's now 10. Not If We Focus on Cyber Resilience, Protecting the Hidden Layer in Neural Networks, Crime Blotter: Hackers Fail to Honor Promises to Delete Data, How the Economic Downturn Has Affected Security Funding, M&A. Founder of Carambola Media Ltd., Sentinel Labs, Inc. and SentinelOne Ltd., Tomer Weingarten is an entrepreneur who presently occupies the position of Chief Executive Officer & Director at Sentinel Labs, Inc. and Chief Executive Officer of SentinelOne Ltd. (a subsidiary of Sentinel Labs, Inc.). Thank you. So yes 37. You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com. They use our technology to understand what's going on, stop the attack and remediate the network. Tomer Weingarten, SentinelOne CEO, joins 'TechCheck' to discuss how long the company's strong growth can continue, how quickly it can grow on the top line and how he would characterize the way. So we're really starting to see that, that flywheel kick-in, in all the different facets of go-to-market channel partner ecosystem. And that's kind of what we see in this space today. Anyone interested in SentinelOne, Inc. should probably be aware that the Co-Founder, Tomer Weingarten, recently divested US$176k worth of shares in the company, at an average price of US$16.70 each.That sale was 26% of their holding, so it does make us raise an eyebrow. 12 -, ? : , . And I would now like to pass the call back over to Tomer Weingarten, CEO of SentinelOne. Lets put it that way. 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