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SentinelOne (S) on Thursday reported a smaller-than-expected loss for the first quarter, but revenue missed Wall Street targets. The cybersecurity firm’s revenue outlook also fell short of views and SentinelOne stock crashed.
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Shares plummeted 35% to 13.36 in extended trading on the stock market today.
For the quarter ended April 30, Mountain View, Calif.-based SentinelOne reported an adjusted loss of 15 cents a share vs. a 21-cent loss a year earlier. Also, the SentinelOne earnings report showed revenue rose 70% to $133.4 million.
Analysts expected SentinelOne to report revenue of $136.6 million and a loss of 17 cents a share.
Annualized recurring revenue from subscriptions increased 75% to $563.6 million, missing estimates of $592.3 million.
For the current quarter ending in July, SentinelOne predicted revenue of $141 million vs. estimates of $152.1 million.
SentinelOne Stock Was Up 40% For Year
SentinelOne earnings were released after the market close. Shares had gained 40% in 2023 prior to the earnings report.
SentinelOne stock ranks No. 34 in the IBD 50 roster of growth companies.
Heading into the SentinelOne earnings report, the cybersecurity stock owned a Relative Strength Rating of only 91 out of a best-possible 99, according to IBD Stock Checkup.
The cybersecurity firm’s software detects malware on laptops, mobile phones and other “endpoints” that access corporate networks. Also, it’s building a broad, threat-detection cybersecurity platform.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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