SentinelOne lifts annual revenue guidance after Q2 results top analyst estimates

Investing.comAug 27, 2024 8:58 PM

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Investing.com -- SentinelOne lifted its annual revenue guidance Tuesday after reporting Q2 results that topped Wall Street estimates as new business deals boosted performance in the quarter, underpinned by rising cybersecurity demand.

SentinelOne Inc (NYSE:S) fell more than 2% in afterhours trade following the results.

For the three months ended Jul. 31, the AI-powered cybersecurity provider reported adjusted earnings per share of $0.01 on revenue of $198.9M, beating Wall Street estimates of $197.4M.

For Q3, the company forecast revenue of $209.5M and adjusted margin of 79%, compared with expectations for $209.7M.

Annualized recurring revenue grew 32% year-on-year to $806M.

Looking further ahead, the company is forecasting full-year fiscal 2025 revenue of $815M, compared with a prior forecast for $808M to $815M, or $811 at the midpoint, compared with expectations for $813.7M.

"We are seeing increasing enterprise interest for our Singularity Platform and differentiated AI architecture, which can help improve security and operational resilience," the company said Tuesday.

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