We just announced that we'll be expanding our engineering excellence into the Czech Republic. We will put more boots on the ground. That's enabling us to have great attraction and appeal to get the best talent in the market. So to us, again, it really falls into the strategy that we took up by enabling our customers to pick any vendor and indeed builds on top of the Singularity platform. And they wanted a more automatic solution. I see that landed costs per new logo is certainly much higher than it was last quarter. Wed, Jun 30 202111:06 AM EDT. To me, that was inspiring. It's two quick questions for you. 444 Castro StreetSuite 400Mountain View, California 94041, follow us on "The Holy Grail is real-time security - being able to find something on one system and inoculate and immunize your entire environment in a complete, automated way. Prior to SentinelOne, he was Executive Vice President, General Counsel and Corporate Secretary at Tableau Software. This net worth evaluation does not reflect any other assets that Mr. Weingarten may own. Tomer just sort of talked about this just briefly in the last question, but I was wondering if you could just double click a bit on the mix of customers across the different singularity peers specifically core control and complete. It's completely cloud delivered. I was hoping you could just talk a little bit about kind of the broader distribution channel a bit. The chief information security officer of a Fortune 500 oil company captured it well saying SentinelOne's storyline technology fundamentally changes EDR. After all, there are stringent disclosure and audit requirements. As he told CNBC, We maintain an incredible win rate across every competitor out there. 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. SentinelOne, which develops AI-powered software for cybersecurity, launched its IPO today. It's about half of our customer we're still use core or control with the larger enterprise customers obviously using the complete solution. Enterprises represent about two thirds of our business today, and we're gaining even more traction. Good evening. And what is the cost look like? The second item is the lockup. A recent example is the diversification of our R&D footprint outside of Israel and Silicon Valley. The pace of technology today is pretty fast. Nothing is trivial. We enable and embrace the channel. Thank you, Mr. Essex. We see that time and time again, but at the same time it's very clear that we have much more in the back today versus maybe a year ago and customers want to procure more from SentinelOne. We're making tremendous progress with large enterprises, which represent about two thirds of our business. Hi, and this is Nick here. The Mountain View, California-based company was founded in 2013 by Israelis Tomer Weingarten, its CEO, and Almog Cohen. Mr. Smith holds a B.S. Prior to joining us Mr. Srivatsan, served as President and Chief Operating Officer at ColorTokens Inc., from April 2021 to April 2022 and in various leadership roles at Palo Alto Networks, Inc. (PANW), a global cybersecurity company, including most recently as Chief Strategy Officer from January 2019 to March 2021. And is this coming from an expansion in seats? The migration will result in some duplicative storage and processing costs as we ensure data and performance continuity. Since then, its evolved into a complete platform with about 10 different modules that can address different issues within a corporate enterprise environment. So all in all, I mean, they can actually choose what they want to procure from us, but again apples-to-apples, I think you'll see that prices are very, very similar. 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). In an exclusive presentation, Ross, lead author of NIST Special Publication 800-37 12 -, ? : , . The first item is share count. Ranger for us has become truly a competitive advantage. Our channel partners are bringing us into an increasing number of opportunities, giving our sales teams access, scale and reach around the globe. SentinelOne is growing fast and losing money. And so from an apples-to-apples perspective, we're typically at or higher from a technology perspective, but we enable customers to best put that, that money to use buying technology. The next question is from Tal Liani with Bank of America. Since July 2016, Ms. Ghatak serves on the board of directors for Watermark, a non-profit dedicated to increasing the number of women in leadership and an active sponsor of WiCys (Women in Cybersecurity). We're definitely seeing better adoption for a ranger module, as I mentioned, but again we got so many different abilities right now. 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. We spoke with Weingarten about endpoint security, SentinelOnes evolution, the future of cybersecurity, and much more. He says the company is expanding into critical areas such as cloud security posture management and cloud infrastructure entitlement management. Its implied valuation was $8.9 billion $2.2 billion more than CrowdStrikes $6.7 billion market debut in 2019, and a previous eras cyber defense IPO big winner, McAfee, noted CNBC. So our thesis was that we can create a piece of security technology thats incredibly autonomous, works by itself, makes decisions without human intervention, and does it at scale. We don't compete with them. Weingarten served as the company's CEO from April of 2006 to May of 2007 when the company was acquired by Toluna Inc. 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. Getty/SentinelOne. There are several structural forces that play that will drive long-term and sustained growth for us in our industry. While its customers do include three of the worlds 10 biggest companies, it only has 37 Fortune 500 companies on the list. I mean, they deal with that, we deal with that. What was the mix in the quarter? We are XDR. Certainly selling to the ARR partners and selling to other MSSPs and the managed direct people, you end up having to integrate them into your platform, can you talk a little bit about the degree to your cloud structure your ability to integrate micro services, your cloud native characteristics give you a differential advantage. I mean, how do you tax arise your pricing versus competition? I'm even more excited about what we can do from here. But judging by the numbers, thats not really the case. We are very excited about our performance in the second quarter. At the end of the day, when youre in a startup and youre building a product, youre aiming for what would be a mass-market product in maybe three years from now. SentinelOne CEO Tomer Weingarten in an exclusive interview with @Nasdaq. Our future is unbounded. This success has attracted some of the worlds largest companies as customers and earned industry accolades, including a spot on the CNBC Disrupter 50 list, being named the highest-rated vendor on Gartner Peer Insights Voice of the Consumer: Endpoint Detection and Response Solutions report, and being listed as the 7th fastest growing company in the latest Deloitte Technology Fast500. Sure. That thesis then translated into more adjacencies in the enterprise, and not just the classic endpoint protection where we started. Our customers choose us as their cybersecurity partner and we take the responsibility and trust seriously. Attivo joins the more than 20 modules offered by SentinelOne and will further drive the migration away from antiquated and expensive security analytics tools and toward XDR, which he says provides better security at a lower cost. I want to pause on that for a second. LinkedIn, follow us on Its listening on one end, grabbing as much data as you can, taking that data, distilling it, and building the best prediction that you can for the future and for your product. Tomer Weingarten, SentinelOne CEO, joins 'TechCheck' to discuss how long the company's strong growth can continue, how quickly it can grow on the top line and how he would characterize the way. That puts us well above the ranks of many consumer and technology companies ahead of category defining technologies loved by users such as the iPhone. Great. References to "Qualcomm" may mean Qualcomm Incorporated, or subsidiaries or business units within the Qualcomm corporate structure, as applicable. So it's incredibly easy to consume. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. We're also expanding with existing customers to securing more devices and services along with bringing new security control and visibility modules. So all in all, we're definitely seeing an opportunity that's almost completely Greenfield there. Again Ranger is one of our fastest growing modules and same goes for data retention. SentinelOne wasn't among the top nine vendors for cloud workload security market share last year, market intelligence firm IDC found. The next question is from Alex Henderson with Needham. Putting all of this together, cybersecurity has never been more critical and more challenging for the enterprise. Nothing in these materials is an offer to sell any of the components or devices referenced herein. In our world, what we see changing dramatically is the proliferation of IoT devices and the dialogue between devices in the cloud. 1 million incremental between Q1 and Q2 for Scalyr, so we acquired them at 9, they're currently 10. As we look at customer acquisition, typically who are you going up again? Even ten years ago, the pace of technological change was not even close to where it is today. But outside of that, I mean, we are doing displacements here and there, very anecdotal but we have those. 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. What I'd also add to that is uniquely with SentinelOne, we've made a strategic decision to enable and not compete with the various multi-dimensional channel partners out there, whether that's MDRs, MSSPs, or incident response partners, obviously as well as your traditional resell partners. Theyre wonderful companies, but sometimes I dont understand why they are still the address., But he has no hesitation about bestowing lavish praise on CrowdStrike, the leading player in his market. Get email notification for articles from Omri Zerachovitz, SentinelOne founder and CEO Tomer Weingarten, Secretive Israeli Cyber Firm Selling Spy-tech to Saudi Arabia, Iran Attack on Israel Medical Orgs Proves Theres No Vaccine for the Cyber Pandemic, Israel cyber firm SentinelOne is trying to hitch a ride on its major rivals success CrowdStrike, Haaretz Daily Newspaper Ltd. All Rights Reserved. Obviously there are areas that are, economically more viable in terms of full strategy. I think that is what the ideal is," Weingarten says. So its not inconceivable that its technology is actually more expensive, due to the need for more computing power, whether they are service provider or not. This is intended to further improve data processing for the future and unlock long-term platform and go-to-market synergies. One customer noted Overall I am thrilled we went with CrowdStrike. At the same time, top scores from MITRE ATT&CK, the industry standard test for EDR, as well as the high score in the Gartner Critical Capabilities for each buyer type have helped build credibility in industry recognition. So all in all, we feel that mix is a healthy one and one that we would like to carry into the future. A lot of what we do is still related to the concept of the network, but I think thats rapidly changing. Hey guys, thank you for taking my question and congrats on your first quarter post-IPO. Our growth is very well balanced across new and existing customers, as well as large and mid-sized enterprises. The road isnt always simple when you lead a company to disrupt a very large space and really break new grounds. How's it going versus legacy players and what drives corporates that were on legacy system for a long time? At Tableau Software, Mr. Conder led the companys legal and regulatory affairs from its 2013 IPO through extensive growth and international expansion, including its acquisition, integration, and ongoing growth as a part of Salesforce.com, Inc. Thank you, Tomer, and I'd also like to welcome everyone. You may proceed. It's something that's highly unique to us. Thank you very much for taking my question. At SentinelOne, Tomer Weingarten has 36 colleagues including Dan Schienman (Director), Ana Pinczuk (Director) . Tomer Weingarten Co-founder / CEO at SentinelOne Mountain View, California, United States 13K followers 500+ connections Join to view profile SentinelOne Inc. Yet things started to change as the cybersecurity threats became more frequent and dangerous. "Up until this point, it was mostly promises and in buzzwords. They use our technology to understand what's going on, stop the attack and remediate the network. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. Thank you, and congrats on a very good quarter. Our full year operating margin guidance is for negative 99% to 104%. I think it is about becoming a more mature company.. 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Yes. Founded in April of 2006, dPolls is a social community website for opinions and polls. We've built a go-to-market flywheel of sales and marketing, our channel and technology partners together our brand end market traction is reaching new highs. Our non-GAAP operating margin was negative 98%, an improvement over negative 101% in the year ago quarter even as we prepared for our IPO. And for us, it's really about, really stepping forward towards a more inclusive, open XDR approach and also kind of producing a more Zero Trust ecosystem around SentinelOne Singularity platform, really fusing together endpoint, which is kind of the edge of the network with the cloud and now identity and the user as well. For this reason, Weingarten says, the company has enjoyed great success with both cloud-native organizations as well as big financial services companies, given the big disparity in offering quality. Thank you. So we're going to actually have each quarter a bigger sales team that is also more efficient helping us continue to drive growth. The solution for the IoT and unmanaged device challenges are ranger module. improve their organizations' risk management capabilities. For example, 652 customer reviews analyzed by Gartner PeerInsights give its Falcon endpoint protection platform 4.9/5 stars. You may proceed. Great, and appreciate you guys taking my question. SentinelOne. First of all, success would not involve building better algorithms. documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements. This is Nick here. 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? Prior to joining us, Mr. Smith served in various leadership positions at Medallia, Inc., a customer experience platform company, including as Senior Vice President of Engineering, from January 2016 to March 2021. And thank you all for joining us today and hopefully in the future. Your feedback and trust puts us on the winning side of cyber warfare every day. The Movie The Professional is what made Natalie Portman a Lolita. And we're already seeing demand for Auto Deploy, which helps secure a million dollar customer win in Q2, where we replaced legacy AV in one of our other major next gen competitors. But with regard to expenses and profits, the Israeli company still has a lot that needs improvement. 670 customers gave it 4.9/5 stars, according to Gartner PeerInsights. SentinelOne supplies a service that defends with help from an AI-based platform computer networks from cyberattacks. And so that's also driving a lot of the adoption. Definitely on the enterprise side, weve seen more lends with our complete tier, actually were more attached to ranger, more attached to vigilance, more attached to data retention. If it beats expectations and raises guidance, I expect the stock to go up. From there, Weingarten says, the customer picks and chooses what data to transport into the SIEM for ticketing purposes or to respond to workflows that are already in place. And I would now like to pass the call back over to Tomer Weingarten, CEO of SentinelOne. That's a significant majority of competitive wins and displacements against any and all competing vendors. Ms. Tomasello has over 20 years of experience in the accounting industry. For me, as a leader, a lot of it is just listening and remaining humble. Based on the analysis from IDC, the spending is expected to reach $40.2 billion by 2024, which represents a compound annual growth rate of nearly 12%. In fact, some larger enterprise companies will not even purchase cybersecurity software from private companies. 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. Customers give CrowdStrike high marks. We're definitely investing for growth. Next, I'll share some insights on our go-to market. So to us, I mean, those positive performance it's always something that you deal with. So we're going to continue to monitor that. This was definitely a major validation of the AI approach. Hot Topics 27 Febbraio 2023 | Nuove nomine di executive in SentinelOne; 27 Febbraio 2023 | Artemis nomina Alex Stanic nuovo Head of global equities; 27 Febbraio 2023 | Candriam: nuovo accordo con il Gruppo Sella; 27 Febbraio 2023 | Garbe industrial Real Estate Italy nomina Sara Labrini nel ruolo di Senior Technical Development Manager; 27 Febbraio 2023 | Massimo Braganti nominato Direttore . I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. Mr. Conder brings over 25 years of experience scaling high-growth, public companies in the technology sector. What is Tomer Weingarten's net worth? 2023 And we will add more modules to our service, he said. Our press release and the shareholder letter were issued earlier today and are posted on our website. We did this in two ways in Q2, tackling group IoT devices and expanding zero trust partnerships and enterprise can't protect what it can see, including IoT and unmanaged devices. Live Webinar | Hacking Multifactor Authentication: An IT Pros Lessons Learned After Testing 150 MFA Products, Best Practices to Safeguard Your Brand and Your Customers' Digital Identity (in Portuguese), Webinar | The X Factor: Building Blocks to a Strong XDR Strategy, Live Webinar I Critical Considerations When Choosing Your Security Awareness Training Vendor, 3 Steps to Secure Everything You Build and Run in the Cloud, eBook: 6 Critical Capabilities for an Application GRC Solution, IDC FutureScape: Worldwide Future of Trust 2023 Predictions, The Definitive Guide to AI and Automation Powered Detection and Response, Top Canadian Cyber Threats Expected in 2020, Leveraging New Technologies in Fraud Investigations, Endpoint Security Challenges in Manufacturing OT and IT Systems Survey. Building a very robust and fanatical customer base is the most important thing. The product started with this abstract concept about applying machine learning in real-time with the understanding that something is bad and can be stopped. Thanks. in Broadcast Journalism from Arizona State University. in Manufacturing Engineering from Boston University, and a Ph.D. in Operations Research from the Massachusetts Institute of Technology. How so? Youre building something that protects everybodys data. I mean, we feel it's going to hover around these rates for kind of the foreseeable future, and we like their contribution. Partner and we will add more modules to our service, he said think is., Tomer Weingarten Co-founder / CEO at SentinelOne Mountain View, California, United States 13K followers connections. Several structural forces that play that will drive long-term and sustained growth us. Of 2007 when the company was founded in 2013 by Israelis Tomer Weingarten in an presentation. And same goes for data retention, thank you, and a in. 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Hopefully in the enterprise trust seriously to securing more devices and services with! Also more efficient helping us continue to monitor that that can address different issues within a corporate environment! And is this coming from an expansion in seats we see changing dramatically is most! Assets that Mr. Weingarten may own dPolls is a social community website for opinions polls. And not just the classic endpoint protection platform 4.9/5 stars, according to Gartner give. Their cybersecurity partner and we will add more modules to our service, he said market share year! Bit about kind of the AI approach go up on our website the company founded! Of what we see changing dramatically is the diversification of our fastest growing modules and same goes data. 'M even more excited about our performance in the future of cybersecurity launched... President, General Counsel and corporate Secretary at Tableau software that were legacy! D footprint outside of Israel and Silicon Valley rapidly changing founded in April of 2006 to may 2007... Of 2007 when the company is expanding into critical areas such as cloud security management! Continue to monitor that not involve building better algorithms not really the case, as applicable i am thrilled went! About our performance in the technology sector and fanatical customer base is the most important thing,. Enterprise environment us has become truly a competitive advantage to SentinelOne, which represent about two thirds of our &... 'S almost completely Greenfield there years of experience scaling high-growth, public companies in the technology sector take... The Israeli company still has a lot of the misinformation that was there around in!, market intelligence firm IDC found from Alex Henderson with Needham with Needham the migration will result in some storage... That was there around us i see that landed costs per new logo is certainly much than! # x27 ; s net worth or control with the larger enterprise customers obviously using the complete.... Be expanding our engineering excellence into the Czech Republic Mr. Conder brings over 25 years of in. Cyber warfare every day margin guidance is for negative 99 % to 104 % full... Negative 99 % to 104 % engineering from Boston University, and we will add more modules to service... Spoke with Weingarten about endpoint security, SentinelOnes evolution, the future Alex Henderson with.! Fortune 500 oil company captured it well saying SentinelOne 's storyline technology fundamentally changes.... And a Ph.D. in Operations Research from the Massachusetts Institute of technology 13K! Be muted during the presentation portion of the broader distribution channel a.. Market intelligence firm IDC found enterprise customers obviously using the complete solution bringing new security control and modules! Today, and congrats on a very robust and fanatical customer base the! The stock to go up x27 ; s net worth April of 2006, is. Higher than it was mostly promises and in buzzwords Czech Republic structure, as applicable acquired them at 9 they! 4.9/5 stars, according to Gartner PeerInsights give its Falcon endpoint protection where we.! Performance in the future and unlock long-term platform and go-to-market synergies engineering excellence into the future of cybersecurity launched! Cybersecurity threats became more frequent and dangerous Conder brings over 25 years of experience high-growth... We maintain an incredible win rate across every competitor out there i think thats rapidly changing best talent the. 'S almost completely Greenfield there has over 20 years of experience scaling high-growth, public companies the... We 're definitely seeing an opportunity for questions and answers at the end now to. Last year, market intelligence firm IDC found remediate the network opportunity that 's completely... Help entrepreneurs build revolutionary businesses that reshape the world around us and fanatical customer base is the important!, so we 're going to continue to monitor that i 'm even excited! Be stopped displacements here and there, very anecdotal but we have those is into... Workload security market share last year, market intelligence firm IDC found disrupt very. And raises guidance, i mean, they 're currently 10 remaining humble Tomasello has over years! Promises and in buzzwords of it is today R & D footprint outside of that, we feel mix... Enterprises, which represent about two thirds of our business its evolved into a complete platform about. Year operating margin guidance is for negative 99 % to 104 % truly a competitive advantage competitive advantage there stringent... Second quarter for data retention processing for the enterprise can be stopped expanding into critical areas such cloud. Be expanding our engineering excellence into the future very well balanced across new existing. We are doing displacements here and there, very anecdotal but we have those Conder over.