SentinelOne Earnings Beat Estimates, Stock Falls On Revenue Outlook

SentinelOne stock's fiscal 2024 revenue outlook fell short of expectations.

Mountain View, Calif.-based SentinelOne reported a loss of 13 cents per share for the quarter ended Jan. 31 compared to a loss of 17 cents one year ago. The SentinelOne earnings report also showed that revenue increased 92% to $126.1million.

Analysts had expected SentinelOne would report revenue of $124.7million and a loss 16 cents per share.

The annual recurring revenue from subscription-based service grew 88% to $548.7million, compared with $545.7 million estimates.

SentinelOne Stock Guidance

SentinelOne forecast revenue of $137million for the April quarter, which was in line with estimates. The company also forecasts revenue of $635.5 Million for fiscal 2024, which is well below the $650 million estimate.

After the stock market closed Tuesday, SentinelOne's earnings were published. The stock market extended trading today saw shares fall 0.6% to 14.39. SentinelOne stock also fell nearly 4% by 2022.

SentinelOne lost two of its top executives to CrowdStrike Holdings, a rival (CRWD) It did however form a partnership with Wiz, a fast-growing cybersecurity company.

According to IBD Stock Checkup, SentinelOne's cybersecurity stock had a relative strength rating of just 11 out of 99 when it entered the SentinelOne earnings reports.

Software developed by the cybersecurity firm detects malware on mobile phones, laptops and other "endpoints" that can access corporate networks. It is also building a wide-ranging, threat-detection cybersecurity platform.