SentinelOne Inc stock popped more than 19% Wednesday morning after the company topped Street expectations with its third-quarter results and raised its full-year guidance.
The cybersecurity company posted revenue of $164.2 million, up 42% year over year and above expectations of $156.1 million. Its adjusted loss was $0.03 per share, compared to expectations of $0.08 per share.
“Our market-leading, AI-based security across endpoint, cloud, and data continues to differentiate SentinelOne as a true innovator,” CEO Tomer Weingarten said in a statement. “The increasing velocity and complexity of cyber attacks require a new approach to cyber security. We are delivering a modern, enterprise-wide unified security platform, helping enterprises manage risk and stay ahead of evolving threats now and into the future.”
SentinelOne issued revenue guidance of roughly $169 million for the current quarter and $616 million for the full year, up from prior full-year guidance of $605 million.
On the company's earnings call, Weingarten said the company has begun selling a generative AI cybersecurity program called Purple AI that handles threat detection and analysis and can respond to customers. The program is expected to be generally available in 2024, SentinelOne said in November.
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