SentinelOne, Inc S shares are trading higher in Thursday's after-hours session on the heels of the cloud-based cybersecurity company's second-quarter results.
What Happened: SentinelOne said second-quarter revenue increased 46% year-over-year to $149.4 million, which beat the consensus estimate of $140.98 million, according to Benzinga Pro. The company reported a quarterly loss of 8 cents per share, which beat analyst estimates for a loss of 14 cents per share.
Annualized recurring revenue increased 47% year-over-year. Total customer count jumped 30% to over 11,000 as of July 31. SentinelOne ended the quarter with $1.1 billion in cash, equivalents and investments.
"We're delivering industry-leading margin improvement while maintaining strong growth, and steadily approaching positive free cash flow generation," said Tomer Weingarten, CEO of SentinelOne.
SentinelOne said it expected third-quarter revenue of $156 million versus estimates of $154.2 million. The company also raised its full-year revenue guidance from a range of $590 million to $600 million to $605 million versus estimates of $594.77 million.
"From the beginning, we designed our AI-powered Singularity platform to deliver autonomous enterprise security. Our approach is helping enterprises consolidate security spend and simplify security operations while getting best-in-class autonomous protection," Weingarten added.
See Also: Nutanix Shares Surge After Company Beats Q4 Earnings Estimates, Announces Buyback
S Price Action: SentinelOne shares were up 2.22% after hours at $17 Thursday at publication, according to Benzinga Pro.
Photo: Courtesy of Kris from Pixabay.
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