Hey guys, thank you for taking my question and congrats on your first quarter post-IPO. The next question is from Roger Boyd with UBS. Very helpful. Ultimately, when you examine the numbers behind SentinelOnes operating structure, you can see that the company is less efficient and will continue to be so in the future, to the detriment of shareholders. We took our technology to securing IoT devices, the datacenter, and even containerized cloud workloads. Our customers are diverse in size, scope and geography. I want to pause on that for a second. Tomer Weingarten is our co-founder and has served as our Chief Executive Officer and a member of our board of directors since our inception in January 2013, as our President since November 2018, and as our Chairman of the Board of Directors since March 2021. And I think it's 99% displacing an incumbent. Yes. With regard to revenues, SentinelOnes numbers are only slightly lower than CrowdStrikes were back when it was the same size. The offering was then priced at $35 and the amount raised came to about $1.2 billion. Hey guys, congrats on a great quarter. Why Is AT&T Cybersecurity Such a Good Acquisition Target? 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? And in any sense of the penetration that product has with customers today? Tiger Global, Insight Venture Partners, Third Point Ventures, and Sequoia Capital also participated in a $50 million concurrent private placement for the stock. We started thinking about the right approach to building security for the future. Every second counts when it comes to fending off cyberattacks. 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. And to what extent that partnership integration makes your partners more sticky over time and amplifies that loyalty? It's about half of our customer we're still use core or control with the larger enterprise customers obviously using the complete solution. The response piece is especially important. Again Ranger is one of our fastest growing modules and same goes for data retention. If the stock price remains at current levels, it will unlock up to approximately 40 million outstanding shares as of July 31, 2021, excluding vested equity awards. Thank you. From sales to support, marketing to channels, business development to customer success, Vigilance MDR to SentinelLabs, our go-to-market organization is world-class and I'm proud to work with this global team of relentless Sentinels each and every day. Time and time again, what we've seen for several years now is folks go with SentinelOne for really a unique combination of prevention alas coverage and support, automation, and then lastly as Tomer had mentioned efficacy. 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. Its going to be mostly a handshake between devices in the cloud at the end of the day. You call that the success with tears in modules, wondering if you can talk about the impact of cloud workload protection? Our solution understands in real-time whether theres an anomaly solely through observation and without relying on prior knowledge of whether something is bad or good. 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. We go up against incumbent and next gen players all the time. We added the highest number of million dollar ARR customers this past quarter. This is the start of an open and informative dialogue. But at the same time we feel presence in the mid-market is important and it's something that actually is a very efficient go-to-market for us. The more conversations you have with your target market customers, the better you design your solution. The reality was that traditional systemssuch as those based on human-powered signatureswere failing even more. Thank you. This success has attracted some of the worlds largest companies as customers and earned industry accolades, including a spot on the CNBC Disrupter 50 list, being named the highest-rated vendor on Gartner Peer Insights Voice of the Consumer: Endpoint Detection and Response Solutions report, and being listed as the 7th fastest growing company in the latest Deloitte Technology Fast500. What that enables customers to do is achieve the outcome we're driving for them and our prospects and customers, which is protection and prevention. Great. Weingarten served as the company's co-founder and CTO from May 2011 to May 2012. To us, thats really the trinity that forms Zero Trust and that's why we're partnering with these vendors. Mark Parrinello has served as our Senior Vice President of Global Sales since February 2020. The colleagues of Tomer Weingarten. And we're becoming this trusted partner for these enterprises that actually continue and grow up and down the stack and in different surfaces. You may proceed. 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. Even beyond security. For us, it's one singular offering, and it's super simple to use.". For us, it really is a good mix. 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. What was the mix in the quarter? Hi there. I've been at SentinelOne for over four years now. Youre building something that protects everybodys data. Tomer Weingarten. Today, I think we've shared that it's already about 10% contribution into our revenue is coming from the, cloud and server protection pieces that we sell, and we're seeing more and more traction in cloud security. Our ecosystem of IR partners are armed with the best technology available when it comes to rapidly recovering from a breach. 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. On Wednesday's episode of "Mad Money," SentinelOne CEO and co-founder Tomer Weingarten discusses the cybersecurity firm's fiscal second quarter 2022 results. Biography of Tomer Weingarten. And just remember that what youre building is for the customer and end-user. When SentinelOne CEO and co-founder Tomer Weingarten launched the company in 2013, he had a revolutionary vision to transform the way organizations protect their data and devices by building software that doesn't just observe but prevents and deflects in real-time.. Their platform, which automates endpoint protection, detection, response, and remediation, offers large organizations a . Jun 30, 2021, 3:00 AM. I think if you look at it, apples-to-apples you'll see that the prices are pretty much similar. Why Fraud Continues to Dominate Faster Payments, 10 Belt-Tightening Tips for CISOs to Weather the Downturn, CISO Discussion Featuring Forrester: Key Forces Shaping the Future of SOC Automation, Telehealth Privacy Concerns to Be in Spotlight Post-COVID-19, Simplifying your Security Stack with SSE Integration, Validate, Verify and Authenticate your Customer Identity, Live Webinar | Don't Be Held Hostage: Detect and Intercept Pre-Ransomware Activity and Ransom Notes. Thank you. When might we see that abide and maybe the margins might be able to maybe better accelerate off the inclusion of that? Keenan Conder has served as Chief Legal Officer and Corporate Secretary since September 2021. I mean, I think it's it's something that you'll see anecdotally happening. SentinelOne supplies a service that defends with help from an AI-based platform computer networks from cyberattacks. Understand the current cyber threats to all public and private sector organizations; Develop a multi-tiered risk management approach built upon governance, processes and Certainly the IPO is part of that. 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. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. The Last 12 Months Of Insider Transactions At SentinelOne 2023 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. SentinelOne will use the proceeds from its IPO for acquisitions, more sales people, and expanding what its product does for customers. We feel better competitive environments more, that's for sure. I think it's just fair to ask the question, if you can refer to their statements and announcements on this customer? [PDF] [7d5kicaru8k0]. And this is Nick here. And let me turn it over to Dave Bernhardt, our CFO. I think a lot of it is sometimes about relationships, but I think what's incredibly interesting about the customers that we've displaced is the reference they made to the amounts of infections they have to deal with, which to us is really why you're bringing in cyber security solution. Thank you. While its customers do include three of the worlds 10 biggest companies, it only has 37 Fortune 500 companies on the list. Despite the claim, CrowdStrike is more profitable and on the other hand SentinelOnes revenue costs consist mainly of maintaining its cloud. 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). In fact, our IR partner ecosystem is our fastest growing channel. We've also begun transitioning our data back into Scalyr for new proof-of-concept deployments, onboarding new customers at scale. Its listening on one end, grabbing as much data as you can, taking that data, distilling it, and building the best prediction that you can for the future and for your product. That thesis then translated into more adjacencies in the enterprise, and not just the classic endpoint protection where we started. At the previous startups that Ive built, I was the CTO and mostly on the technical side. We launched SentinelOne in 2013 with the idea that cybersecurity incorporated faster speeds, greater scale, higher accuracy, and most importantly do this through more automation. We're helping customers expand agent deployments, access more functionality with package tiers and adopt new module solutions. Our business is expanding well into the triple digits, both for ARR and revenue and our guidance for Q3 shows that we expect that to continue. Thank you, Tomer, and I'd also like to welcome everyone. What type of capacity, you see going forward in terms of your ads for the next couple of quarters? So it's not only about protecting those attack surfaces, it's also about ease of deployment and simplicity of use. With Rob Owens [Piper Sandler], you may proceed. That's enabling us to have great attraction and appeal to get the best talent in the market. He. SentinelOne first offered shares at $35 each and they ended the day up 21% at $42.50. So there we've added CIS benchmarking capabilities just a couple of quarters ago, we're seeing better and better adoption. Ranger for us has become truly a competitive advantage. Operationally, we've expanded our board of directors and instituted an advisory board. Our new Auto Deploy capability tackles one of the oldest problems in enterprise IT, quickly deploying protection to unmanaged and sometimes unreachable assets with ease. Next is the digital enterprise environment, more devices, more places, more data requires updates to critical enterprise infrastructure and that includes new attack surfaces such as containers and workloads. For all of us at SentinelOne, our values and goals align on protecting customers and putting them first. What we don't try to do is hijack a customer's security budget and to forcing them to buy reams of services, hours to support, a non-automated product. The dollar-based gross retention rate: 97%. Contact support. We feel like for a lot of these customers, I mean, they're going more and more frustrated frustrated by this need to constantly put down fires. SentinelOnes IPO valuation was a record for a cybersecurity company. 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. 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. Two, we don't compete with our channel partners. We look forward to talking to you again in the near future. Tomer Weingarten is the CEO and co-founder of SentinelOne. As he told CNBC, We maintain an incredible win rate across every competitor out there. We just announced that we'll be expanding our engineering excellence into the Czech Republic. LIVE Webinar | Cisco Duo and Umbrella are better together! Thats a pretty impressive 347% compound annual growth rate in value. In our world, what we see changing dramatically is the proliferation of IoT devices and the dialogue between devices in the cloud. Tomer Weingarten, CEO of SentinelOne, joins "Squawk on the Street" to discuss the company's IPO and cybersecurity business. 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. Our website uses cookies. The road isnt always simple when you lead a company to disrupt a very large space and really break new grounds. The next question is from the line of I apologize one moment, please. And that's really what's driving massive motion in our market. We are XDR. We're excited about the future of go-to market synergies. 225% on $1 million deals, again, a good reflection of our traction in the enterprise. If youre able to react and deflect at scale in real-time, then you have a unique advantage you have a system that protects from attacks in a manner that no one else does. And as a result, we're delivering real-time industry leading threat detection and response from endpoint to IoT to cloud. After two decades without a ratingsystem in Israel, at the end of 2012 an international tender for hotel ratingwas published. In 2023, once she's collected all the shares included in the package, she's . Thank you. "Given the technological superiority we have on our platform today, some of the biggest cloud consumers out there have been adopting our workload protection platform," Weingarten tells Information Security Media Group. And we're seeing, the beginning and first innings of traction, we deliver with a lot of our newer modules. Highest number of million dollar ARR customers this past quarter for new deployments... Again in the market all of us at SentinelOne for over four years now Umbrella are together... Better and better adoption makes your partners more sticky over time and amplifies that loyalty detection and response endpoint... 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