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Oct 31, 2022
SentinelOne Q3 2023 Earnings Report
SentinelOne's revenue and ARR grew triple digits, driven by strong adoption of the Singularity XDR platform.
Key Takeaways
SentinelOne announced strong financial results for the third quarter of fiscal year 2023, with revenue increasing by 106% year-over-year and ARR also up by 106% year-over-year. The company's customer base grew, and it maintained a strong gross margin. SentinelOne is focused on enhancing productivity and continuing to take market share in a dynamic environment.
Total revenue increased 106% to $115.3 million, compared to $56.0 million.
Annualized recurring revenue (ARR) increased 106% to $487.4 million as of October 31, 2022.
Total customer count grew about 55% to over 9,250 customers as of October 31, 2022.
Customers with ARR over $100,000 grew nearly 100% to 827 as of October 31, 2022.
Forward Guidance
The company provided guidance for the fourth quarter of fiscal year 2023 and full fiscal year 2023.
Positive Outlook
- Revenue Q4 is expected to be $125 million.
- Full year revenue is expected to be between $420-421 million.
- Non-GAAP gross margin Q4 is expected to be 72%.
- Full year non-GAAP gross margin is expected to be 71.0-71.5%.
- Full year Non-GAAP operating margin (51)-(50)%.
Challenges Ahead
- Q4 Non-GAAP operating margin is expected to be (39)%.
- These statements are forward-looking and actual results may differ materially as a result of many factors.
- Guidance for non-GAAP financial measures excludes stock-based compensation expense, employer payroll tax on employee stock transactions, amortization expense of acquired intangible assets, and acquisition-related compensation costs.
- We have not provided the most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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