For us, it really is a good mix. It's predominantly in the second half of this year. We are [investing to] acquire new market share while improving unit economics by operating in a more efficient manner.. There was certainly substantial demand from investors. I want to pause on that for a second. During the latest quarter, revenues soared by 108% to $37.4 million. But even today, CS is growing at a rate of 74 percent, a very high rate for a company its size. SentinelOne founder and CEO Tomer Weingarten Credit: SentinelOne But he has no hesitation about bestowing lavish praise on CrowdStrike, the leading player in his market. 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. twitter, follow us on Our modules help customers with today's critical management protection and visibility challenges. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. This was the first public offering for Weingarten. Mr. Parrinello holds a B.A. This is why our patented storyline technology is so important, like monitors and contextualizes all events across an enterprise at machine speed. We're making tremendous progress with large enterprises, which represent about two thirds of our business. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. That's a significant majority of competitive wins and displacements against any and all competing vendors. Customers give CrowdStrike high marks. Since then, its market value has increased sevenfold. And there's a mix across all of them, but there's certainly an opportunity us to continue to see the customers and core control we expand up to the more complete offering, as well as add more modules, et cetera, et cetera. No egos. The dollar-based net retention rate: 124%. SentinelOne prides itself on having fended off cyberattacks most notably the recent SUNBURST one [the malware that tricked systems into uploading it as an update to the SolarWinds Orion software] for all of its customers, he told me. 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. Thanks. Furthermore, the more we can build applications on top of the data that we collect using the platform, the more value we can bring to our customer base and the more extensive our offering can be across many different facets. Our platform today holds the most capabilities out of any other platform out there. One thing I would add to that, this is Nick here is, from a budget perspective. You want to prevent these infections from happening. But again infection, that's something that's unacceptable. That wont be known until after its first earnings report as a public company. Thank you. SentinelOne is competing effectively with rivals such as CrowdStrike and Palo Alto Networks. Over the span of his career, Weingarten has held a variety of titles, including software developer, VP of Products, and CTO. A key has been the leveraging of MSPs (Managed Service Providers). 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. And our platform is a 100% cloud native. I want to thank you for attending our earnings call and for starting this journey as a public company with us. So we think the the market momentum in customers understanding that they need to change the mindset and we move over to a next gen offering is not really mainstream. First of all, success would not involve building better algorithms. So all in all, we're definitely seeing an opportunity that's almost completely Greenfield there. 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. During her tenure at Chegg Inc., Ms. Tomasello guided the companys accounting team from its 2013 IPO through periods of extensive revenue growth. Ms. Ghatak is a member of the board of advisors of Findem, Inc., a company that uses an artificial intelligence platform to assist companies in their employee hiring, since February 2021. 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. Our open XDR approach is helping unify the entire enterprise view from data to device to cloud. 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. I'm even more excited about what we can do from here. When we started, we had 35 competitors, said the companys founder and CEO, Tomer Weingarten, in an interview with the business daily Globes a year and a half ago. Thank you. Some people paint, some people write songs, some people are talented in different ways. 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. And for us, I mean, you can take a more prevention first approach. And we will add more modules to our service, he said. CEO Tomer Weingarten told Insider that the company is now eyeing acquisitions to grow its products. But at the same time turn into more of a preventative approach where I'm not saying that you can prevent everything, but you can absolutely do a better job on prevention and really stop that firefighting mode or improve it significantly. Operator, can you please open up the lines for questions? By browsing bankinfosecurity.com, you agree to our use of cookies. Understand the current cyber threats to all public and private sector organizations; Develop a multi-tiered risk management approach built upon governance, processes and How is that coming to play and also pricing differences. From there, Weingarten says, the customer picks and chooses what data to transport into the SIEM for ticketing purposes or to respond to workflows that are already in place. So it's incredibly easy to consume. Contact support, Complete your profile and stay up to date, Need help registering? Criminal syndicates love cybersecurity because its more lucrative, harder to pinpoint, and harder to attribute just a better system for them obviously. We are benefiting from increased scale, cloud hosting agreements and processing efficiency gains. You call that the success with tears in modules, wondering if you can talk about the impact of cloud workload protection? Sure. Not If We Focus on Cyber Resilience, Protecting the Hidden Layer in Neural Networks, Crime Blotter: Hackers Fail to Honor Promises to Delete Data, How the Economic Downturn Has Affected Security Funding, M&A. 2023 Information Security Media Group, Corp. Customers today are primarily looking to augment rather than replace their SIEM product with XDR, and Weingarten says shipping some data to the XDR provider rather than the SIEM will save customers significant money. Tomer, maybe for you. 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. Our press release and the shareholder letter were issued earlier today and are posted on our website. And I would now like to pass the call back over to Tomer Weingarten, CEO of SentinelOne. And now we're seeing I think, of just increasing increase in accelerated attraction across the board, both in partners and with customers, with sales cycles and with competitive win rates. Building the platform has required using the latest in data systems to process petabytes of data in real-time. We enable and embrace the channel. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. Yes. Is this coming from the tiers that you talked about and up-sell within the base or a lot of that growth coming from the adjacent modules? 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. The next question is from Brent Thill with Jefferies. When customers run a search or query in SentinelOne's EDR platform, it can return results from any other security product in the customer's IT ecosystem without having to deploy multiple consoles or duplicate or transport data, Weingarten says. Its basically the go-to console for security operations people in some of the worlds largest organizations. And for us, it's really about, really stepping forward towards a more inclusive, open XDR approach and also kind of producing a more Zero Trust ecosystem around SentinelOne Singularity platform, really fusing together endpoint, which is kind of the edge of the network with the cloud and now identity and the user as well. And so that's the right way to think about our global field presence is adding all of those folks up and understanding that each time we're adding a partner behind that are hundreds of sales reps, doing 2000 plus accreditations to date, that's really building that flywheel, but we're absolutely going to continue to invest in our own SentinelOne personnel as it relates to go-to-market. 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. He is responsible for the company's direction, products, and services strategy. We value trust and transparency, and I'll have the opportunity to model this as a public company. In Q2, we added the highest number of customers with ARR over $1 million compared to prior quarters. Cohen and Weingarten were actually childhood friends and went to the same college. The more conversations you have with your target market customers, the better you design your solution. 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. Ranger Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. Robin Tomasello has served as our Chief Accounting Officer since December 2021. 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