Great. There are several structural forces that play that will drive long-term and sustained growth for us in our industry. What do you think one for Tomer, to what extent does that validate your technology given that you're partnering with other next-gen vendors on the network security side? So you'll see it in Q3, you'll see it in Q4, and then it should dissipate beyond there. The Last 12 Months Of Insider Transactions At SentinelOne 5,169 executive movements have been recorded in the last 12 months. Hey guys, congrats on a great quarter. I think the road is long, and I think what really is important to understand about our platform is we're much more than endpoint security. Qualcomm Ventures Investment Team members are employees of Qualcomm Technologies, Inc. or one of its subsidiaries. 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. Cybersecurity is fundamentally a data problem. 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. Prior to joining SentinelOne, Ms. Tomasello served in a leadership role at Chegg Inc., where she was VP, Corporate Controller and Assistant Treasurer. Could you talk a little bit about your hiring plans and sales? 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. SentinelOnes IPO valuation was a record for a cybersecurity company. Hey guys, thanks for taking my questions here and echo my congrats on becoming a public company. And in any sense of the penetration that product has with customers today? But we thought that an IPO was critical. I'm proud of the technology and the innovation we're bringing to customers through our Singularity XDR platform. 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. In the past, Weingarten claimed when the two companies go head-to-head, SentinelOne wins out in 70 percent of the cases. The firm has raised some $697 million to date, from investors including US . We're also expanding with existing customers to securing more devices and services along with bringing new security control and visibility modules. Before launching the company in 2013, he had helped to create several other tech startups. 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. Nick, Tomer, thank you. So the average enterprise has a few dozen different vendors covering various parts of their security enterprise. So that $37 million that you guys to this queue was all organic, is that right? The next question is from the line of I apologize one moment, please. I mean, we feel like our traction in the enterprise and definitely 140% growth year-over-year and 100,000 deals and above is a good reflection of how much bigger we're landing in accounts. In addition to his title as founder and CEO, Weingarten also serves as an investor and advisor to various companies. We're still in early innings, but it's massive, its macro and its global. They want to use more abilities; they're opting for our services. 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. The firm recently bought the startup Scalyr to beef up its ability to crunch customer data. And just my follow-up question. Get email notification for articles from Omri Zerachovitz, SentinelOne founder and CEO Tomer Weingarten, Secretive Israeli Cyber Firm Selling Spy-tech to Saudi Arabia, Iran Attack on Israel Medical Orgs Proves Theres No Vaccine for the Cyber Pandemic, Israel cyber firm SentinelOne is trying to hitch a ride on its major rivals success CrowdStrike, Haaretz Daily Newspaper Ltd. All Rights Reserved. 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. Over 5,400 customers use our Singularity XDR platform. While building the AI system, Weingarten learned some important lessons. The approach of using artificial intelligence and automation-driven endpoint protection services has made SentinelOne one of the worlds leading cybersecurity firms in less than a decade by providing a deceptively simple solution to an exceedingly complex problem. So to us, again being completely cloud native, being multi-talented is a competitive differentiator we have for that part of the market. I think what we're seeing really is best characterized as a generational shift away from signature-based approaches to machine learning and automated driven protection and visibility. Founded in April of 2006, dPolls is a social community website for opinions and polls. Certainly the IPO is part of that. In recent years, following the decline of players like McAfee and Symantec, this market has undergone an upheaval. We're working on getting our largest customers over first, which is why you see the depth that we're expecting in the second half, but going forward, we think we should have a baseline of around where we're at right now, barring any other efficiencies we see on the product as we continue to advance it. Yes. Articles by Tomer Random thoughts. What is Tomer Weingarten's net worth? Its a market that hadnt been disrupted in years, with very large incumbents like Symantec and McAfee which had not innovated for a long time. We feel better competitive environments more, that's for sure. Ms. Tomasello has over 20 years of experience in the accounting industry. Now for our outlook for Q3 and the full fiscal year. youtube. Our goal is to optimize for scale performance and cost. What was the mix in the quarter? [Operator Instructions] The first question is from the line of Hamza Fodderwala with Morgan Stanley. Good evening. That was a great question from Roger. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. Remember that what youre building is for the customer and the end user. First automation, automation is key to neutralizing threats effectively and in real-time. Tomer Weingarten Co-founder / CEO at SentinelOne Mountain View, California, United States 13K followers 500+ connections Join to view profile SentinelOne Inc. The second item is the lockup. After enjoying a 21% rise on its first day of trading, is it too late to invest in SentinelOne? twitter, follow us on Thank you for your participation and enjoy the rest of your day. Its basically the go-to console for security operations people in some of the worlds largest organizations. I mean we started in the cloud, I mean; it's something that is today built in a complete, multi-tenanted way, which is actually something that's relatively unique in our space. SentinelOne wasn't among the top nine vendors for cloud workload security market share last year, market intelligence firm IDC found. I didnt always realize there would be a line between being an entrepreneur and a software developer. The remainder of the lockup will expire subsequent to our Q3 earnings report. Lets put it that way. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. SentinelOne, Inc. (NYSE:NYSE:S) Q2 2022 Earnings Conference Call September 8, 2021 5:00 PM ETCompany ParticipantsDoug Clark - Head of Investor RelationsTomer Weingarten - Co-Founder and. Therefore, its no surprise that the company continues to burn through cash. Nothing in these materials is an offer to sell any of the components or devices referenced herein. We're making tremendous progress with large enterprises, which represent about two thirds of our business. 2023 Thank you to all of our employees and also our customers and partners. Tomer, Nick and Dave will begin with prepared remarks, and then we'll open the call for questions. You may proceed. Okay, great. CrowdStrike is in an entirely different league, with expected revenue growth of $1.3 billion. What we're seeing and Tomer talked about this is with a tremendous innovation, introduction of new modules, new surfaces to protect new problems to solve. When SentinelOne CEO and co-founder Tomer Weingarten launched the company in 2013, he had a revolutionary vision to transform the way organizations protect their data and devices by building software that doesn't just observe but prevents and deflects in real-time.. Their platform, which automates endpoint protection, detection, response, and remediation, offers large organizations a . Two, we don't compete with our channel partners. These non-GAAP measures are not intended to be a substitute for our GAAP results. This net worth evaluation does not reflect any other assets that Mr. Weingarten may own. That's something we'll advance, once we get it completely tied into the SentinelOne back end. I would now like to pass the conference over to your host, Doug Clark, Head of Investor Relations with SentinelOne. Next, I'll share some insights on our go-to market. 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. There are many publicly-traded cybersecurity companies. Criminal syndicates love cybersecurity because its more lucrative, harder to pinpoint, and harder to attribute just a better system for them obviously. I think building a little bit on Saket's question, but I wanted to touch on the net dollar retention rates. Tomer Weingarten is the founder and CEO of SentinelOne, an endpoint cybersecurity company, and platform headquartered in Mountain View, California. I mean, I think it's it's something that you'll see anecdotally happening. LinkedIn, follow us on Sure. 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. statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially. Thank you very much. With all of this opportunity in front of us, fiscal 2022 remains an investment year. So our ability to protect to prevent and to keep our customers safe. Absolutely. We're still early with our modules and see this as a long-term lever for our business. The biggest benefits are coming from our increasing scale and business expansion. I mean, how do you tax arise your pricing versus competition? Got it. The pace of technology today is pretty fast. Let's discuss the business. We are benefiting from increased scale, cloud hosting agreements and processing efficiency gains. Ranger Auto Deploy takes the SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. Please. And thank you all for joining us today and hopefully in the future. Across the entire enterprise from endpoint to cloud companies want partners and platforms not siloed point solutions. You may proceed. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. One thing I would add to that, this is Nick here is, from a budget perspective. Tomer Weingarten is responsible for the company's direction, products, and services strategy. And that's kind of what we see in this space today. 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. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. So the ability to really address all of these new opportunities in cybersecurity that might have not been there a couple of years ago are not only an opportunity, but also a competitive differentiator that we have. These as non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles. Our growth is very well balanced across new and existing customers, as well as large and mid-sized enterprises. This is low compared to other firms like CyberArk (82 percent), Palo Alto (89 percent) and CrowdStrike (74 percent). Our non-GAAP operating margin was negative 98%, an improvement over negative 101% in the year ago quarter even as we prepared for our IPO. We actually have a product that is completely agentless, thats tapped into the Kubernetes control plane, and immediately cover or containers. Note that the SMB (small-and-medium size business) category has shown even more growth. While its customers do include three of the worlds 10 biggest companies, it only has 37 Fortune 500 companies on the list. According to investor Jamin Ball, who publishes comparisons of SaaS (software as a service) companies on his blog, it took SentinelOne 25 months to recoup its sales and marketing expenses, compared to 15 months for CrowdStrike. We're helping customers expand agent deployments, access more functionality with package tiers and adopt new module solutions. You may proceed. Where do you think you are in that opportunity? The next question is from Brian Essex with Goldman Sachs. And we feel like a lot of our customers are coming back to us now that they're starting their transition into the cloud and theyre deploying into their Kubernetes environment into native cloud environment. So we're really starting to see that, that flywheel kick-in, in all the different facets of go-to-market channel partner ecosystem. Thanks a lot. Certainly. We expect the strong momentum we saw in Q2 to continue next quarter and our structural tailwinds to persist. The decline of players like McAfee and Symantec, this market has undergone an tomer weingarten nationality recent. Factors currently known to us and that actual results and events could differ materially Co-founder / CEO at Mountain! The components or devices referenced herein IDC found a budget perspective Technologies, or! Undergone an upheaval deployments, access more functionality with package tiers and new. 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