sentinelvan ,S) reported a smaller-than-expected loss in the fourth quarter on Tuesday, while revenue exceeded Wall Street targets. The cybersecurity firm’s full-year fiscal 2024 revenue outlook for SentinelOne stock came in below estimates.
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For the quarter ending Jan. 31, Mountain View, California-based SentinelOne reported an adjusted loss of 13 cents per share versus a 17-percent loss a year ago. Also, the SentinelOne earnings report showed that revenue increased 92% to $126.1 million.
Analysts expected SentinelOne to report revenue of $124.7 million and a loss of 16 cents per share.
Annual recurring revenue from subscription-based services grew 88% to $548.7 million versus estimates of $545.7 million.
Sentinelvan Stock Guidance
For the current quarter ending in April, SentinelOne predicted revenue of $137 million, in line with estimates. Meanwhile, for the full fiscal year 2024, the company forecasts revenue of $635.5 million, down significantly from the $650 million forecast.
SentinelOne’s earnings were released after the market closed on Tuesday. Shares fell 2.5% to a close of 14 in extended trading on the stock market today. Furthermore, SentinelOne stock is down about 4% in 2022.
SentinelOne recently lost two top executives to a rival CrowdStrike Holdings ,CRWD, But it partnered with Vij, a fast-growing cyber security firm.
Leading in the SentinelOne earnings report, cybersecurity stocks have a relative strength rating of only 11 out of the best possible 99, according to ibd stock checkup,
The cybersecurity firm’s software detects malware on laptops, mobile phones and other “endpoints” accessing the corporate network. At the same time, it is building a comprehensive, threat-detection cyber security platform.
Follow Reinhardt Cross on Twitter @reinhardtk_tech For updates on 5G wireless, artificial intelligence, cyber security and cloud computing.
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