For example, it can be deployed on environments like Windows, macOS, Linux, and Kubernetes. 225% on $1 million deals, again, a good reflection of our traction in the enterprise. Finally, we have two quick housekeeping items. Yes. Tomer Weingarten, CEO, and Co-Founder. We're rapidly expanding this ecosystem and its driving meaningful growth for us. Weingarten has referred to CrowdStrike as its main competitor. CrowdStrike is much larger than SentinelOne. What was the mix in the quarter? But the last thing and this is not to be underestimated with our unique go-to-market business is that multi dimensional channel that we talked about. You may proceed. After two decades without a ratingsystem in Israel, at the end of 2012 an international tender for hotel ratingwas published. I mean, we feel it's going to hover around these rates for kind of the foreseeable future, and we like their contribution. So to only the end point refresh cycle, there's actually something that drives in overall look at your entire cyber security posture. We're now seeing, think about the White House Executive Order that mandates low collection, data retention, the ability to keep security data input telemetry for longer is actually fueling customers to procure more and more data retention and archiving directly from our platform. We definitely see the ability to expand into other footprints in the enterprise, almost every account that we land. That puts us well above the ranks of many consumer and technology companies ahead of category defining technologies loved by users such as the iPhone. Yes for sure. 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 listen to our customers adding even more automation capabilities. The most surprising figure is SentinelOnes gross profit margin, which stood at 56 percent last four quarters. (I have no financial interest in the securities mentioned in this post). The price-to-revenue ratio, also known as the P/S, is the ratio between a companys market value and its sales. I want to thank you for attending our earnings call and for starting this journey as a public company with us. We have two triggers. We are XDR. We go up against incumbent and next gen players all the time. At SentinelOne, Tomer Weingarten has 36 colleagues including Dan Schienman (Director), Ana Pinczuk (Director) . As we look at customer acquisition, typically who are you going up again? The cybersecurity firm SentinelOne helps deliver autonomous security for endpoint, data center, and cloud environments to help. Thank you. Additional proof of this can be seen in the amount of time it takes the company to recoup its sales and marketing expenditures. The company focuses on cloud workload protection and bests its rivals when it comes to performance and deployment since it doesn't tap into the kernel or require an intrusive integration, Weingarten says. I mean, some the hybrid work environment and to rephrase those cycles through increase need of abilities to the government pointing out EDR solutions as one that that should become mandatory environment. The product started with this abstract concept about applying machine learning in real-time with the understanding that something is bad and can be stopped. 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. Dave, when we think about your Czech Republic R&D facility, is that driven by global lack of talent? We knew from the beginning that the best solution would have to harness the power of data and AI. Over 5,400 customers use our Singularity XDR platform. What we're also finding is at time of sale for new customers, they're predicting landing with a complete package with other modules as well. This was very compelling to us. So we're going to continue to invest and build and grow our go-to-market teams. We've built a go-to-market flywheel of sales and marketing, our channel and technology partners together our brand end market traction is reaching new highs. Career Identity protection is one of the most desired capabilities right now, given the shift in the threat landscape toward more user-based attacks, Weingarten says. A human powered 1-10-60 benchmark is a legacy model. I have a few questions I want to speak about competition. So all in all, we feel pretty good about our market presence in the channel ecosystem. 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. And so our ability to get really, really good folks who can hit the ground running bring tremendous yield. Invited to place bids You may not become a millionaire, but there is a lot to learn from George Soros. Even ten years ago, the pace of technological change was not even close to where it is today. This means distilling a solution that would be battle-tested through time, something that serves your customers for years to come. 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. As it relates to some of the $1 million ARR customers that you landed. In the first few years, it was an absolute battle to get the trust of customers, said Weingarten. Our internal sales and support teams combined with our diverse and growing partner ecosystem gives us an incredibly vast reach. Feedback has been positive and we've issued over 2,000 accreditations to-date. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. At Coty Inc., Sue Nabi scored perhaps the biggest CEO pay deal ever granted in the world of beauty: $283 million. Building a very robust and fanatical customer base is the most important thing. Note that the SMB (small-and-medium size business) category has shown even more growth. Prior to that he held several . They wanted a solution that can actually remediate and clean up all the infections they were seeing. And more importantly, really implement that technology fully to get the best protection and visibility on the planet. It's now 10. 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. That's a significant majority of competitive wins and displacements against any and all competing vendors. improve their organizations' risk management capabilities. 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. Before I turn into Nick and Dave, I want to say I'm excited about what we've achieved as the company. 444 Castro StreetSuite 400Mountain View, California 94041, follow us on
For me, as a leader, a lot of it is just listening and remaining humble. Theyre wonderful companies, but sometimes I dont understand why they are still the address., But he has no hesitation about bestowing lavish praise on CrowdStrike, the leading player in his market. We use AI to parse petabytes of data, identify anomalies and autonomously mitigate attacks in real-time. Okay, great. Got it. We support and enable their business. Mr. Srivatsan holds a Bachelor of Technology from the Indian Institute of Technology, Bombay, an M.S. Despite the claim, CrowdStrike is more profitable and on the other hand SentinelOnes revenue costs consist mainly of maintaining its cloud. And three, we win more than 70% of POCs against the competition. In Q2, we added one of the largest telecommunications and mass media companies in North America and we also added one of the world's largest global financial institutions as well. Today, the company is about 600 people globally, over 4,000 customers, weve raised about $430 million to date, and we are valued at over a billion dollars. Our press release and the shareholder letter were issued earlier today and are posted on our website. In addition to the founding of SentinelOne, Weingarten also co-founded two other companies earlier in his career. I'm proud of the technology and the innovation we're bringing to customers through our Singularity XDR platform. That thesis then translated into more adjacencies in the enterprise, and not just the classic endpoint protection where we started. Terrific. SentinelOne has been growing at triple-digit rates but is slowing down. Good afternoon everyone and welcome to SentinelOne's earnings call for the second quarter of fiscal year 2022 ended July 31st. Prior to joining ISMG, he spent four and a half years covering all the major cybersecurity vendors at CRN, with a focus on their programs and offerings for IT service providers. First of all, success would not involve building better algorithms. Thank you. The next question is from the line of I apologize one moment, please. The estimated net worth of Tomer Weingarten is at least $3.91 million as of December 12th, 2022. And obviously, Qualcomm is a main driver in the 5G revolution which will also almost recreate what the network model looks like. And with an eye to the future, we just announced that we'll be opening an R&D facility in the Czech Republic to support our growing scale and global presence. I think were going to see some major leaps in how everyone conducts business on a global scale. I think that is what the ideal is," Weingarten says. Mr. Conder brings over 25 years of experience scaling high-growth, public companies in the technology sector. Certainly. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. When CS was at the same revenue level as S1 is today, its growth rate was higher - and that was even before the coronavirus, which proved a boon for the cyber market. And we're seeing, the beginning and first innings of traction, we deliver with a lot of our newer modules. Going forward, workload protection and workload mapping should become a single offering, Weingarten says. 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. There are currently more than 4,700 customers and a majority of them are large enterprises. And once again, we do look at the peers they're focused on detection and response. And that drives adoption as well. In fact, some larger enterprise companies will not even purchase cybersecurity software from private companies. So I think there are many different drivers to what we're seeing right now in endpoint security. Thanks. We feel better competitive environments more, that's for sure. This is intended to further improve data processing for the future and unlock long-term platform and go-to-market synergies. Nothing is trivial. What drives them now to, to migrate and then also the competition versus the new players like CrowdStrike and others? In recent years, following the decline of players like McAfee and Symantec, this market has undergone an upheaval. If it beats expectations and raises guidance, I expect the stock to go up. And so from an apples-to-apples perspective, we're typically at or higher from a technology perspective, but we enable customers to best put that, that money to use buying technology. Bloomberg says the firm is interviewing bankers for a share offering this year; the Tel Aviv based company was founded in 2013 by Tomer Weingarten, its CEO, and Almog Cohen After speaking with CEO, Tomer Weingarten, a few hours prior to its IPO, I see three reasons to consider buying the stock: To be sure, there are risks to buying it now. They bundle a service with it. Before our founding, Mr. Weingarten held various positions, including Vice President of Products, at Toluna Holdings Limited, a technology company that delivers real-time consumer insights, from May 2007 to December 2012, which he joined following the acquisition of Dpolls, a startup he had previously co-founded. SentinelOne, Inc. (NYSE:NYSE:S) 24th Annual Needham Growth Conference January 11, 2022 1:15 PM ETCompany ParticipantsDoug Clark - Head, Investor RelationsTomer Weingarten - Chief Executive. Definitely part of the reason why we've expanded our offering and knowledge scalar is a data analytics backend. The dollar-based net retention rate: 124%. Our customers want real-time response and protection. One compromised printer can quickly become an adversary's home base for an attack. 670 customers gave it 4.9/5 stars, according to Gartner PeerInsights. These are the go-to experts who cyber insurers and boards call when there is a breach. Great, thank you very much. And if you can talk about your we spoke about product differentiation, but I want to talk about the value of automation. Looking at our Q2 results, we achieved record revenue of $46 million, increasing 121%. And for us, I mean, you can take a more prevention first approach. Driven by the rising wave of ransomware attacks, breaches have become pervasive for businesses around the world. 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. The proof of concept demo I went through before selecting this product was thorough and set us up for success when we did decide to continue our relationship with CrowdStrike., They also love the SentinelOne Singularity Platform. 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? There are currently more than 4,700 customers and a majority of competitive wins and displacements against any all... Competition versus the new players like McAfee and Symantec, this market has undergone an upheaval the of. After two decades without a ratingsystem in Israel, at the end of 2012 international... To harness the power of data and AI 2022 ended July 31st $ 46 million, increasing 121.. George Soros in real-time gives us an incredibly vast reach, it can be stopped for us, expect... 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