With us today are Tomer Weingarten, Co-Founder and CEO; Nicholas Warner, COO; and David Bernhardt, CFO. And three, we win more than 70% of POCs against the competition. Please. I was hoping you could just talk a little bit about kind of the broader distribution channel a bit. The latest figure is 124 percent for both of them, meaning their revenues from existing companies are growing by 24 percent from year to year. I mean, I think it's it's something that you'll see anecdotally happening. Thank you. The next question is from Patrick Colville with Deutsche Bank. From June 2014 to February 2017, Mr. Parrinello served as Vice President of American Sales at Nimble Storage, Inc., a data storage solutions company that was acquired by Hewlett Packard Enterprise Company in April 2017. SentinelOne, Inc. (NYSE:NYSE:S) 24th Annual Needham Growth Conference January 11, 2022 1:15 PM ETCompany ParticipantsDoug Clark - Head, Investor RelationsTomer Weingarten - Chief Executive. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. Can you characterize the competition? It also spends more on sales and marketing (97 percent compared to 87 percent). improve their organizations' risk management capabilities. Earlier this year, we acquired Scalyr, enhancing our ability to ingest index-free data, hit scale from structured and unstructured sources. This is an improvement upon our fiscal year 2021 operating margin of negative 107%. In closing, Q2 was an excellent quarter with strong execution, and we're expecting that momentum to continue into the second half of the year. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Before we begin, I would like to remind you that during today's call, we'll be making forward-looking statements regarding future events and financial performance, including our guidance for the third fiscal quarter and full fiscal year 2022, as well as certain long-term financial targets. Since its April 2019 IPO, CrowdStrike stock has bolted at a 135% annual rate to $252 a share valuing the company at nearly $57 billion. He also has developed various online courses, such as for the COBOL and Python programming languages. The estimated net worth of Tomer Weingarten is at least $3.91 million as of December 12th, 2022. Israel cyber firm SentinelOne is trying to hitch a ride on its major rivals success, but the numbers arent in its favor. Are you still seeing a lot of replacement of legacy out there, which would imply that there's still a long way to go in this markets? Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. They want to use more abilities; they're opting for our services. I'm even more excited about what we can do from here. Our press release and the shareholder letter were issued earlier today and are posted on our website. Hi, good afternoon. 1 million incremental between Q1 and Q2 for Scalyr, so we acquired them at 9, they're currently 10. And once again, we do look at the peers they're focused on detection and response. in Manufacturing Engineering from Boston University, and a Ph.D. in Operations Research from the Massachusetts Institute of Technology. Thank you. "We just see these folks choosing us time and time again in these bake-offs.". "It's going to be tough for other vendors to follow anytime soon," Weingarten says. We're hearing that you're quite cheaper than the competition next gen competition? You can actually stop these fire from actually ever happening. Career Weingarten says clients also save money since all data that's collected natively by SentinelOne's agents is stored for free regardless of whether it resides on the endpoint or in the cloud or is tied to user identity. Could you talk a little bit about your hiring plans and sales? And to what extent that partnership integration makes your partners more sticky over time and amplifies that loyalty? And so that's the right way to think about our global field presence is adding all of those folks up and understanding that each time we're adding a partner behind that are hundreds of sales reps, doing 2000 plus accreditations to date, that's really building that flywheel, but we're absolutely going to continue to invest in our own SentinelOne personnel as it relates to go-to-market. And the idea is over time to continue and ingest more data from all of these adjacent solutions in the enterprise into our open XDR platform. Articles by Tomer Random thoughts. Qualcomm Ventures. youtube. This is why our patented storyline technology is so important, like monitors and contextualizes all events across an enterprise at machine speed. Every second counts when it comes to fending off cyberattacks. Learn the fundamentals of developing a risk management program from the man who wrote the book And once again, all of that is 100% pure cloud motion, which not only enables speed, but once again, ease of use ease of deployment. SentinelOne has 4,700 customers, which means its per-customer income is lower. And they wanted a more automatic solution. Thank you. 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. and monitoring information security controls. Mark Parrinello has served as our Senior Vice President of Global Sales since February 2020. Why Fraud Continues to Dominate Faster Payments, 10 Belt-Tightening Tips for CISOs to Weather the Downturn, CISO Discussion Featuring Forrester: Key Forces Shaping the Future of SOC Automation, Telehealth Privacy Concerns to Be in Spotlight Post-COVID-19, Simplifying your Security Stack with SSE Integration, Validate, Verify and Authenticate your Customer Identity, Live Webinar | Don't Be Held Hostage: Detect and Intercept Pre-Ransomware Activity and Ransom Notes. We see tremendous opportunity for growth and the investments we're making today will put us in a position to succeed for the long-term. Our new Auto Deploy capability tackles one of the oldest problems in enterprise IT, quickly deploying protection to unmanaged and sometimes unreachable assets with ease. 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. Thank you. And how many people are you planning on adding in the Czech Republic facility? Just remember thats the mission, thats why we wake up, thats why we build what we build. Prior to that, Mr. Weingarten co-founded Carambola Media Ltd., a publisher focused platform that creates new ad revenue streams through engaging content formats, where he served as Chief Technology Officer from May 2011 to May 2012. ARR of nearly $200 million and growing 127% is nothing short of astounding. Very helpful. I think that is what the ideal is," Weingarten says. Well, you will encounter challenges to overcome on a daily basis. Now SentinelOne is aiming at three markets valued at nearly $30 billion: Not surprisingly, these markets are full of rivals. About 99% of the time, our platform does not have a human in the loop, said Weingarten. Yes. Yes. "It's a fantastic company, with astounding marketing and performance capabilities." 444 Castro StreetSuite 400Mountain View, California 94041, follow us on (I have no financial interest in the securities mentioned in this post). Prior to that he held several . The growing threat landscape is just one of them. SentinelOne is forecasting revenue growth of $161 million, an increase of 23 percent from the last quarter and 115 percent from the same quarter last year. Since then, its market value has increased sevenfold. So we're going to continue to monitor that. We came into it with a lot of offensive knowledge about attacker methodology and the methods the most advanced adversaries out there use to penetrate defenses. Microsoft back then wasnt about hardware, there was nothing to feel. That thesis then translated into more adjacencies in the enterprise, and not just the classic endpoint protection where we started. It was really something that made me think, I want to invent something with software, too. I'm switching over to SentinelOne this quarter as this has been with the past quarters as well. The biggest benefits are coming from our increasing scale and business expansion. Tiger Global, Insight Venture Partners, Third Point Ventures, and Sequoia Capital also participated in a $50 million concurrent private placement for the stock. I think the tax that we choose to, be very transparent about what the company does is dispelled. I have a quick one, if I can squeeze in, if not I'll ask you privately. Prior to joining SentinelOne, Ms. Tomasello served in a leadership role at Chegg Inc., where she was VP, Corporate Controller and Assistant Treasurer. I want to double click on our incident response partnerships. Yes. The support is very responsive in my experience so far. You may proceed. In the shareholder letter, we've reiterated our long-term margin targets. Moreover, its negative free cash flow is growing fast from about ($13 million) to ($33 million). So we're seeing massive traction with that. So all in all, I mean, it just really kind of falls in line with both of our Zero Trust strategy and our open XDR approach. Thank you. To us, thats really the trinity that forms Zero Trust and that's why we're partnering with these vendors. For us it's about technology. "You're starting to see what the XDR strategy really looks like for some of these vendors," Weingarten says. You may proceed. He is responsible for the company's direction, products, and services strategy. Furthermore, the more we can build applications on top of the data that we collect using the platform, the more value we can bring to our customer base and the more extensive our offering can be across many different facets. Implementing AI Systems: Transform Your Business in 6 Steps. And with that, let me turn it to Nick Warner, our Chief Operating Officer. And following the call, an audio replay will be available on the Investor Relations section of our website. We support and enable their business. CrowdStrike offers more dynamic and sophisticated solutions that are suited to a new world in which end-user devices are more diverse and cyberattacks are becoming more sophisticated. It's predominantly in the second half of this year. Reflected in our guidance is our plan to migrate existing customers to our Scalyr backend in Q3 and Q4. 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. Thank you very much for taking my question. From sales to support, marketing to channels, business development to customer success, Vigilance MDR to SentinelLabs, our go-to-market organization is world-class and I'm proud to work with this global team of relentless Sentinels each and every day. Even ten years ago, the pace of technological change was not even close to where it is today. Over 5,400 customers use our Singularity XDR platform. in Broadcast Journalism from Arizona State University. The cybersecurity firm SentinelOne helps deliver autonomous security for endpoint, data center, and cloud environments to help. CEO Tomer Weingarten told Insider that the company is now eyeing acquisitions to grow its products. The reality was that traditional systemssuch as those based on human-powered signatureswere failing even more. And we're seeing, the beginning and first innings of traction, we deliver with a lot of our newer modules. He is responsible for the company's direction, products, and services strategy. The American company has 11,400 customers, including 61 Fortune 100 companies and 214 Fortune 500 ones. Thanks. But the last thing and this is not to be underestimated with our unique go-to-market business is that multi dimensional channel that we talked about. This is the new normal forcing the revolution of how we work, where we work from and fundamentally how we secure the future of work. The migration will result in some duplicative storage and processing costs as we ensure data and performance continuity. And obviously, Qualcomm is a main driver in the 5G revolution which will also almost recreate what the network model looks like. And where do you see it kind of going in the next year coming off the IPO? First automation, automation is key to neutralizing threats effectively and in real-time. Anyone interested in SentinelOne, Inc. should probably be aware that the Co-Founder, Tomer Weingarten, recently divested US$176k worth of shares in the company, at an average price of US$16.70 each.That sale was 26% of their holding, so it does make us raise an eyebrow. That's really helpful. Today, the company is about 600 people globally, over 4,000 customers, weve raised about $430 million to date, and we are valued at over a billion dollars. And I think that comprises the vast majority of our pipeline. 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. You may proceed. These are all things that our platform can cover today. How's it going versus legacy players and what drives corporates that were on legacy system for a long time? in Economics from Delhi University in India and an M.A. We have two triggers. There are currently more than 4,700 customers and a majority of them are large enterprises. Our customers want real-time response and protection. CrowdStrikes field is security for end-user devices (devices connected to the end of a network, like a cellphone or computer hooked up to the world wide web). Our sales reps, sales engineers, channel managers really investing in our go-to-market engine but at the same time, what we've been also able to yield is increasingly greater sales efficiency. So we obviously look for global talent everywhere. Tom (@ttaulli) is an advisor/board member to startups and the author of Artificial Intelligence Basics: A Non-Technical Introduction, The Robotic Process Automation Handbook: A Guide to Implementing RPA Systems and Implementing AI Systems: Transform Your Business in 6 Steps. Prior to Medallia, Mr. Smith served in various positions at Oracle Corporation, a products and services cloud technology company, including most recently as Senior Director of Engineering, from October 2009 to January 2016. We're still in early innings, but it's massive, its macro and its global. In the past year, we've more than tripled the number of customers with ARR over 1 million. I'm wondering, if you could just give us any more color in terms of maybe how many agents those deals typically involve? So for a lot of these new accounts that we're winning that the net new logo motion that we have is already going into other adjacencies in the enterprise, whether it's IoT security or cloud security. Got it. In Q2, we added world renowned IR partners like Kroll, Alvarez & Marsal and Group-IB. And there's a mix across all of them, but there's certainly an opportunity us to continue to see the customers and core control we expand up to the more complete offering, as well as add more modules, et cetera, et cetera. But to figure out whether SentinelOne will really achieve the same P/S ratio as CrowdStrike, its necessary to examine both companies financial data. It's two quick questions for you. Previously, Ms. Ghatak led talent and implementation of people strategy at several global business units at Cisco Systems, from June 2007 to October 2013. The CEO and cofounder of SentinelOne is Tomer Weingarten. But no one is showing them how - After seeing the immediate value of our technology, we see extremely high adoption rate at post-breach as post-breach enterprise is standardized on SentinelOne as a modern approach to cybersecurity. You call that the success with tears in modules, wondering if you can talk about the impact of cloud workload protection? 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