So all in all, I mean, it just really kind of falls in line with both of our Zero Trust strategy and our open XDR approach. Weingarten served as the company's co-founder and CTO from May 2011 to May 2012. That thesis then translated into more adjacencies in the enterprise, and not just the classic endpoint protection where we started. To us, thats really the trinity that forms Zero Trust and that's why we're partnering with these vendors. Where is the battle coming down to more of the next gen providers? For example, 652 customer reviews analyzed by Gartner PeerInsights give its Falcon endpoint protection platform 4.9/5 stars. Prior to joining us, Mr. Smith served in various leadership positions at Medallia, Inc., a customer experience platform company, including as Senior Vice President of Engineering, from January 2016 to March 2021. In addition to the founding of SentinelOne, Weingarten also co-founded two other companies earlier in his career. 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 an exclusive presentation, Ross, lead author of NIST Special Publication 800-37 So to us, I mean, we feel like we've built really strong foundation in the channel, but now they're just going and accelerating and obviously enabling the channel, preparing more modules is another tier in our ability to unlock doing the vast opportunity in the channel ecosystem. And to what extent that partnership integration makes your partners more sticky over time and amplifies that loyalty? Every second counts when it comes to fending off cyberattacks. Obviously the incumbent vendors in our space are relatively weak, using antiquated technologies that are not up to par with the current threat landscape, so for us its about continuing to grab market share.. Microsoft back then wasnt about hardware, there was nothing to feel. He says the company is expanding into critical areas such as cloud security posture management and cloud infrastructure entitlement management. The financial outlook that we provided today excludes stock-based compensation expense, which cannot be determined at this time and are therefore not reconciled in today's press release. So I think there are many different drivers to what we're seeing right now in endpoint security. The migration will result in some duplicative storage and processing costs as we ensure data and performance continuity. But the vast majority of what we see, it's, it's absolutely taking market share from the incumbents. 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. Great, thank you very much. Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. 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. Most importantly, this remains well above 53% we reported in the first fiscal quarter of this year and at or above 58% we delivered in fiscal 2021. And with that, let me turn it over to Tomer Weingarten, CEO of SentinelOne. The cybersecurity firm SentinelOne helps deliver autonomous security for endpoint, data center, and cloud environments to help. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. As it relates to some of the $1 million ARR customers that you landed. Even beyond security. And our platform is a 100% cloud native. But I wanted to go into a slightly different angle on the cloud architecture that you bring. Security Operations. And what that's really driven by enabling their business and not competing is incredible loyalty and brand loyalty with SentinelOne, and that's something we've been working really hard on for the last several years. It's about half of our customer we're still use core or control with the larger enterprise customers obviously using the complete solution. With all of this opportunity in front of us, fiscal 2022 remains an investment year. Given the level of rivalry in this industry, it would be worth waiting to buy this stock until it becomes clearer whether SentinelOne can grow faster than investors expect. Got it. Building the platform has required using the latest in data systems to process petabytes of data in real-time. Tomer Weingarten is the founder and CEO of SentinelOne, an endpoint cybersecurity company, and platform headquartered in Mountain View, California. In 2019, Weingarten told me the company was enjoying300% growth year-on-year. Yesterday he said, We have grown at over 100% year over year for the last several quarters and in the first quarter annual recurring revenues were up 116%., SentinelOne views cash flow positivity and profitability as a long-term target, he told me. Our focus on automation, speed and accuracy is critical to any enterprise, in fact, all enterprises. This is Nick here. For this reason, Weingarten says, the company has enjoyed great success with both cloud-native organizations as well as big financial services companies, given the big disparity in offering quality. SentinelOne CEO Tomer Weingarten closed on a $11.5-million home in Los Altos, just below the asking price, according to public records. I think it is about becoming a more mature company.. 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. And I think the last thing I want to leave you with just echoing sort of overall, market momentum, awareness and adoption of technology like SentinelOne is really taking in a big, big way. We felt the approach we were considering was quite revolutionary, and something that would change the balance of power even between attackers and defenders. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. Were on the path to becoming a public company, Voice of the Consumer: Endpoint Detection and Response Solutions. Our focus with Scalyr is obviously been on implementing the technology not on really pushing our go-to-market. Welcome everyone and thanks for joining our first earnings call as a public company. Thank you. He adds that SentinelOne stacks up favorably against any other data analytics vendor when it comes to both cost and performance. National Institute of Standards and Technology (NIST), SentinelOne's Tomer Weingarten on Cloud, XDR and Analytics, Need help registering? That's enabling us to have great attraction and appeal to get the best talent in the market. From a go-to-market perspective, what it means for our customers is we really allow them to realize even greater ROI on previous solutions that they had purchased. So all in all, we feel well positioned to continue and capture market share in the cloud workload protection platform space into us, again if you coupled that with the platform approach with everything coming back to the same security data layer, then you really start unlocking synergies and you allow security teams really ask a question once and get an answer from every part of your enterprise network that spends from the endpoint or though the cloud. The next question is from Roger Boyd with UBS. 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. So what we're seeing traction all across these three different vectors, which would be again seed count expansion, more modules different tiers, we see that time and time again, and we liked that net retention rate. 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. Once the data is ingested, Weingarten says, SentinelOne has mechanisms in its Singularity platform that let customers build rules around the collected data and invoke responses to those commands across any product. 225% on $1 million deals, again, a good reflection of our traction in the enterprise. Looking at the rest of our P&L, we're investing for growth and it's clear that it's working, once again, reflected in our triple-digit top line growth rates. As we look at customer acquisition, typically who are you going up again? For us, it's one singular offering, and it's super simple to use.". Our customers want real-time response and protection. Thank you. 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. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. It's not just quantity, but quality. Good evening. The colleagues of Tomer Weingarten. Eran Ashkenazi has served as our Senior Vice President of Global Support and Services since March 2019. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. You may proceed. In Q3, we expect revenue of $49 million to $50 million, reflecting growth of 102% at the midpoint. I'm delighted to help protect that many businesses. Definitely on the enterprise side, weve seen more lends with our complete tier, actually were more attached to ranger, more attached to vigilance, more attached to data retention. And maybe just a quick follow-up for Dave. We feel better competitive environments more, that's for sure. I think thats something that we try to instill as our company culture. The CEO and cofounder of SentinelOne is Tomer Weingarten. Weingarten has referred to CrowdStrike as its main competitor. CrowdStrike is much larger than SentinelOne. 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. So all in all, I think, again, multiple factors come into play, the IPO shining a spotlight on all of them. During an ISMG interview at Black Hat USA 2022, Weingarten discussed his company's biggest bets from cloud workload protection and unstructured data ingestion to accelerating automation and becoming a full SIEM replacement (see: SentinelOne's $100M Venture Capital Fund Seeks Data Startups). Hey guys, thank you for taking my question and congrats on your first quarter post-IPO. We started with two people and a nice idea. We value trust and transparency, and I'll have the opportunity to model this as a public company. , In the industry, we saw a lot of opportunity in the endpoint market. So we're seeing massive traction with that. The company raised close to $700 million over eight rounds of funding. 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. 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. Tiger Global, Insight Venture Partners, Third Point Ventures, and Sequoia Capital also participated in a $50 million concurrent private placement for the stock. We feel that what were doing with data, machine learning and artificial intelligence in security is something that very few companies are doing. The remainder of the lockup will expire subsequent to our Q3 earnings report. Prior to joining us, Mr. Bernhardt served in various leadership positions at Chegg, Inc., an educational technology company, including as Vice President of Finance and Principal Accounting Officer, from July 2011 to September 2020. The next question is from Brian Essex with Goldman Sachs. Earlier this year, we rolled out a new channel partner training and accreditation program. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. In Q2, we enhanced our capabilities around automation, zero trust and data. And specifically, when we talk about cloud security, we talk about workload protection platform and runtime protection. Qualcomm Ventures. These are all things that our platform can cover today. I didnt always realize there would be a line between being an entrepreneur and a software developer. Opinions expressed by Forbes Contributors are their own. That's correct. "You're starting to see what the XDR strategy really looks like for some of these vendors," Weingarten says. It's about creating a more secure endpoint in the most holistic way possible. CrowdStrike is in an entirely different league, with expected revenue growth of $1.3 billion. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. With STAR security teams can now create custom detection response rules and deploy them in real-time. They use our technology to understand what's going on, stop the attack and remediate the network. Covering topics in risk management, compliance, fraud, and information security. 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. "Those are the ones that we're working to complete.". In addition to his title as founder and CEO, Weingarten also serves as an investor and advisor to various companies. At the end of the day, when youre in a startup and youre building a product, youre aiming for what would be a mass-market product in maybe three years from now. Yet SentinelOne is doing pretty well. He is responsible for the company's direction, products, and services strategy. Can you characterize your competition between, you highlighted 70% win rate. We're still early with our modules and see this as a long-term lever for our business. 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. We did this in two ways in Q2, tackling group IoT devices and expanding zero trust partnerships and enterprise can't protect what it can see, including IoT and unmanaged devices. So for a lot of these new accounts that we're winning that the net new logo motion that we have is already going into other adjacencies in the enterprise, whether it's IoT security or cloud security. This is the start of an open and informative dialogue. The next question is from Patrick Colville with Deutsche Bank. The Movie The Professional is what made Natalie Portman a Lolita. Certainly the IPO is part of that. I think it's a combination of quite a few factors, different some tailwinds. Tomer Weingarten, CEO of SentinelOne, joins "Squawk on the Street" to discuss the company's IPO and cybersecurity business. Technology. Even for the engine peers, I mean, we're seeing a lot of their customers and we've had a multi-million dollar displacement this quarter for a customer that grew increasingly frustrated with the multiple infections with inefficiency on protecting server environments. We knew from the beginning that the best solution would have to harness the power of data and AI. Finally, we're focused on data. This was definitely a major validation of the AI approach. Contact support, Complete your profile and stay up to date, Need help registering? We're protecting even more mission-critical businesses. I'm just really trying to get a feel for how long this exceptionally strong momentum can continue? [PDF] [7d5kicaru8k0]. Since its April 2019 IPO, CrowdStrike stock has bolted at a 135% annual rate to $252 a share valuing the company at nearly $57 billion. This call is being broadcast live via webcast. Thank you. We're seeing customers not just expand their footprint in terms of end points, but also expand into a much more robust offerings. And three, we win more than 70% of POCs against the competition. I would now like to pass the conference over to your host, Doug Clark, Head of Investor Relations with SentinelOne. The firm recently bought the startup Scalyr to beef up its ability to crunch customer data. I think we take a different approach. 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. I mean, how do you tax arise your pricing versus competition? Every second counts when it comes to fending off cyberattacks management, compliance fraud. 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