Overview
- SentinelOne disclosed May 28 that it would reduce headcount by roughly 8%, take a one-time restructuring charge near $25 million and expect about $45 million in annualized savings.
- In the same report the company posted Q1 adjusted EPS of $0.04, beating estimates, and revenue of about $276.7 million, which narrowly missed consensus.
- Total annual recurring revenue rose about 23% to roughly $1.16 billion with a company-record $44 million in net new ARR, driven by growth in non-endpoint and AI security products.
- Management gave Q2 revenue guidance of $289 million to $291 million that was slightly below Wall Street, while reaffirming full-year revenue and adjusted EPS ranges.
- Investors cut the stock sharply in extended trading as analysts weighed near-term revenue timing and tougher competition from larger vendors and Microsoft against signs of improving margins and platform mix.