That's great. This is why our patented storyline technology is so important, like monitors and contextualizes all events across an enterprise at machine speed. He says the company is expanding into critical areas such as cloud security posture management and cloud infrastructure entitlement management. Our customers want real-time response and protection. Thank you. You may proceed. We actually have a product that is completely agentless, thats tapped into the Kubernetes control plane, and immediately cover or containers. Every second counts when it comes to fending off cyberattacks. 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. So we're seeing massive traction with that. This is the base run rate going forward. This is an improvement upon our fiscal year 2021 operating margin of negative 107%. CEO and co-founder Tomer Weingarten joins 'Squawk Alley' to discuss if an IPO is on the horizon for. By submitting this form you agree to our Privacy & GDPR Statement, General Data Protection Regulation (GDPR). To us prevention is the fundamental component of modern day cybersecurity. We're seeing customers not just expand their footprint in terms of end points, but also expand into a much more robust offerings. For example, 652 customer reviews analyzed by Gartner PeerInsights give its Falcon endpoint protection platform 4.9/5 stars. I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. Obviously, we're very enthusiastic about our top line drivers. CrowdStrike offers more dynamic and sophisticated solutions that are suited to a new world in which end-user devices are more diverse and cyberattacks are becoming more sophisticated. But Weingarten says SentinelOne's ability to protect cloud, Linux and Kubernetes environments without requiring a cumbersome deployment sets it apart. Yet the market is massive. LinkedIn, follow us on
We got $9 million ARR when we acquired Scalyr. Remember that what youre building is for the customer and the end user. We feel that what were doing with data, machine learning and artificial intelligence in security is something that very few companies are doing. "We just see these folks choosing us time and time again in these bake-offs.". That puts the company behind nearly every other leading endpoint security vendor, including Trend Micro, Trellix, Sophos, CrowdStrike and Broadcom, according to IDC. David, maybe my follow-up for you. But judging by the numbers, thats not really the case. You may proceed. We're hearing that you're quite cheaper than the competition next gen competition? The cybersecurity firm SentinelOne helps deliver autonomous security for endpoint, data center, and cloud environments to help. We sell three platform tiers, core control in our most comprehensive and popular tier complete. Certainly the IPO is part of that. Support has been relatively effective, but can be a little slow on response times.. It's predominantly in the second half of this year. We use AI to parse petabytes of data, identify anomalies and autonomously mitigate attacks in real-time. And maybe Tomer, I would love to get your feedback on, I think in your prepared remarks you talked about two-thirds of your businesses is enterprise focused. So to us, again, it really falls into the strategy that we took up by enabling our customers to pick any vendor and indeed builds on top of the Singularity platform. We just, turns out to be a much more efficient model than the platforms that they've been using in the past which obviously, were more on-prem down. But we thought that an IPO was critical. To a large extent, the American companys success works in SentinelOnes favor, and its reasonable to assume that it will play a central role in Weingartens conversations with investors over the coming weeks. Weingarten has referred to CrowdStrike as its main competitor. CrowdStrike is much larger than SentinelOne. SentinelOne expanded its product portfolio to include identity with the $616.5 million purchase of Attivo Networks, enabling the firm to provide identity threat detection and response, identity infrastructure assessment and identity cyber deception. Weingarten argues that the older companies trying to enter this field are no longer the right address. Hey guys, thanks for taking my questions here and echo my congrats on becoming a public company. Hey guys, thank you for taking my question and congrats on your first quarter post-IPO. Many customers are using XDR as a filtering mechanism for their SIEM tools, Weingarten says, putting all of their data initially into XDR since it's much more cost-effective. So all in all, I think, again, multiple factors come into play, the IPO shining a spotlight on all of them. The dollar-based gross retention rate: 97%. Earlier this year, we acquired Scalyr, enhancing our ability to ingest index-free data, hit scale from structured and unstructured sources. By building these rules, customers can drive automation between products in a meaningful way and remove risk from the system by reducing the system's dependence on humans, he says. And is this coming from an expansion in seats? in Personnel Management and Industrial Relations, from the Tata Institute of Social Sciences in India. There are several structural forces that play that will drive long-term and sustained growth for us in our industry. At the same time, top scores from MITRE ATT&CK, the industry standard test for EDR, as well as the high score in the Gartner Critical Capabilities for each buyer type have helped build credibility in industry recognition. And for us, I mean, you can take a more prevention first approach. It's not just quantity, but quality. And it also want to know, enables these partners to basically deliver their services in a much more effective manner. So to only the end point refresh cycle, there's actually something that drives in overall look at your entire cyber security posture. Tomer Weingarten is the CEO and co-founder of SentinelOne. Yes. Thanks. Excluding the redundant costs for the Scalyr migration, we estimate fiscal 2022 gross margin would be roughly similar to our gross margin we achieved this quarter. After all, lockups will expire creating downward pressure on the stock as early investors sell. Just on maybe a question for either Nick or Tomer, I wanted to dig into some of the partnership announcements you guys have made in recent months particularly with Zscaler and Cloudflare. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. Where do you think you are in that opportunity? In our world, what we see changing dramatically is the proliferation of IoT devices and the dialogue between devices in the cloud. And it's driving more adoption and driving more seat counts in all-in-all it drives the stability for customers who shift away from their incumbent vendor with ease. That gives me tremendous confidence in the long-term growth potential in front of SentinelOne. So to us, again being completely cloud native, being multi-talented is a competitive differentiator we have for that part of the market. We don't compete with them. 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. Ms. Ghatak also represents SentinelOne as an active sponsor of WiCys. Thats a pretty impressive 347% compound annual growth rate in value. Thank you. We go up against incumbent and next gen players all the time. CEO Tomer Weingarten told Insider that the company is now eyeing acquisitions to grow its products. I want to pause on that for a second. It's something that's highly unique to us. We're definitely investing for growth. in Broadcast Journalism from Arizona State University. We build a mind map of device activities, apply distributed AI onto edge devices, and as [cyberattacks] are happening, we can intervene and stop the attack, he told me. In the past, Weingarten claimed when the two companies go head-to-head, SentinelOne wins out in 70 percent of the cases. To us, thats really the trinity that forms Zero Trust and that's why we're partnering with these vendors. You may proceed. Prior to SentinelOne, he was Executive Vice President, General Counsel and Corporate Secretary at Tableau Software. And just my follow-up question. We knew that we need ways to deal with attacks that are increasing in frequency and becoming more automated. Were on the path to becoming a public company, Voice of the Consumer: Endpoint Detection and Response Solutions. Join us LIVE! Our strong channel metrics are leading pipeline and traction indicators. There are currently more than 4,700 customers and a majority of them are large enterprises. This is XDR. For example, it can be deployed on environments like Windows, macOS, Linux, and Kubernetes. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. That's enabling us to have great attraction and appeal to get the best talent in the market. We'll continue to drive it. What I'd also add to that is uniquely with SentinelOne, we've made a strategic decision to enable and not compete with the various multi-dimensional channel partners out there, whether that's MDRs, MSSPs, or incident response partners, obviously as well as your traditional resell partners. "Up until this point, it was mostly promises and in buzzwords. So all in all, we feel that mix is a healthy one and one that we would like to carry into the future. That means fewer and more accurate alerts based on data. This means distilling a solution that would be battle-tested through time, something that serves your customers for years to come. Tomer co-founded SentinelOne in 2013. Down the road, are they buying everything and maxing out their purchase on the initial purchase to get to that million plus spend? After seeing the immediate value of our technology, we see extremely high adoption rate at post-breach as post-breach enterprise is standardized on SentinelOne as a modern approach to cybersecurity. No egos. One, our 97% gross retention rate, which means our customers are happy and staying with us. statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially. Our ecosystem of IR partners are armed with the best technology available when it comes to rapidly recovering from a breach. 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. That's over 2000 more than last year. That was a great question from Roger. We're still early with our modules and see this as a long-term lever for our business. Congrats, guys on the strong debut quarter. In other words, write the rules once and let it trigger automatic alerts and instant responses enterprise wide. These and others are global leaders with extensive enterprise relationships. But outside of that, I mean, we are doing displacements here and there, very anecdotal but we have those. Tomer Weingarten, co-founder and CEO, SentinelOne (Image: SentinelOne) Identity protection, XDR, data analytics and cloud security have been SentinelOne's biggest areas of investment during 2022 . Mr. Bernhardt holds a B.S.c. Robin Tomasello has served as our Chief Accounting Officer since December 2021. Founded in 2011, Carambola Media is a platform for publishing companies to generate additional revenue streams through content curation. I think building a little bit on Saket's question, but I wanted to touch on the net dollar retention rates. Great. Thank you. Or how many modules they typically purchase? So all in all, we're seeing massive adoption for not only kind of what is now becoming our premium tier, which is complete, but on top of that to the add-on modules that we have. "It will eventually be a complete reimagination of the network by the data collected and by the XDR platform.". Microsoft back then wasnt about hardware, there was nothing to feel. Thanks. In recent years, following the decline of players like McAfee and Symantec, this market has undergone an upheaval. Ranger Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. This goes along with a dramatic influx in how traditional crime syndicates are monetizing, as more syndicates involved in physical crime shift their business models into cybercrime. 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? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We see tremendous opportunity for growth and the investments we're making today will put us in a position to succeed for the long-term. Founded in April of 2006, dPolls is a social community website for opinions and polls. Now its true that SentinelOne faces intense competition. 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. Of Social Sciences in India the net dollar retention rates that gives tremendous... Multi-Talented is a competitive differentiator we have those be deployed on environments like Windows,,! Choosing us time and time again in these bake-offs. `` grow its tomer weingarten nationality dPolls a... Devices in the cloud all, we acquired Scalyr, enhancing our ability to protect cloud,,. 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