
SentinelOne: December 6 Letter to Shareholders
In that letter to shareholders ($S), SentinelOne further said:"In light of persistent macroeconomic uncertainty, we’re sharpening our focus on cost management and are calibrating our investments with the pace of growth. In the past month, we’ve taken action to unlock more operational and execution efficiencies by streamlining our teams and elevating top business leaders, empowering them to be even more dynamic and nimble."
SentinelOne, CrowdStrike: Still Growing Despite Macroeconomic Uncertainty
In some ways, rival CrowdStrike shared similar macroeconomic concerns during a $CRWD earnings call in November 2022.Despite the warning signals, both SentinelOne and CrowdStrike continue to grow. And both continue to proclaim their respective commitments to MSSP partnerships. On the revenue front:- CrowdStrike in November 2022 announced total quarterly revenue of $580.9 million, up 53% from $380.1 million in the corresponding quarter last year.
- SentinelOne on December 6, 2022, announced total quarterly revenue of $115.3 million, up 106% from $56 million in the corresponding quarter last year.
SentinelOne MSSP Partnerships
SentinelOne's MSSP relationships remain a "highly strategic go-to-market motion," Weingarten told analysts during the earnings call. "We haven’t even started to unlock the other revenue line possibilities we have with the MSSP ecosystem."Initially, MSSPs embraced SentinelOne's EDR (endpoint detection and response) and EPP (endpoint protection) software. More recently, the company has extended the MSSP solution set to include Ranger (an IoT discovery platform) and MDR (managed detection and response), as well as resell opportunities, Weingarten noted.Summing up SentinelOne's overall viewpoint on MSSP relationships, Weingarten said:"So, all in all, we feel going to be a sustained and resilient part of our business, especially as you see SMBs trying to avoid not the technology and software costs. But really the overhead in recruiting more and more headcount into their security teams and are looking to offset that by procuring direct services, scale services from the MSSP ecosystem.
Obviously, that bodes well for us. We have a complete multi-tenanted solution for that MSSP ecosystem that actually allows them to be more productive in what they do. So, again, even in this environment, MSSP is definitely a shining point for us."
SentinelOne: Additional Financial Metrics
Among the additional takeaways from SentinelOne's earnings call on December 6, 2022:- Total customer count grew about 55% to over 9,250 customers as of October 31, 2022.
- Customers with ARR over $100,000 grew nearly 100% to 827 as of October 31, 2022.
- Dollar-based net revenue retention rate was 134%.