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SentinelOne, Inc. (NYSE: S) is a pioneering cybersecurity company that revolutionizes the economics of cyber attacks with its cutting-edge, platform-based approach. Founded in 2013 and headquartered in California, SentinelOne became a publicly traded entity in 2021. The company's flagship offering is the Singularity platform, a comprehensive solution that integrates next-generation endpoint protection with advanced endpoint detection and response features. This platform ensures that sophisticated and targeted cyber attacks are not only detected but also thwarted effectively.
At the core of SentinelOne's technology is a lightweight module that continuously scrutinizes suspicious patterns across various environments, including desktops, servers, critical infrastructure, and embedded systems. Upon identifying any malicious activity, the module triggers automated responses to neutralize threats swiftly, immunizes other endpoints, and restores systems to their pre-attack conditions.
SentinelOne has achieved a significant milestone as the first and only next-generation endpoint protection solution to receive certification from AV-TEST, an independent IT-security institute. This certification underscores the reliability and effectiveness of its security solutions. The company's innovative efforts extend to partnerships and investments, as demonstrated by its venture arm, S Ventures. Recently, S Ventures invested in Auguria, a cybersecurity AI company, highlighting SentinelOne's commitment to advancing AI-driven security operations.
With a mission to defeat every attack, every second, of every day, SentinelOne continues to lead the charge in transforming traditional cybersecurity paradigms, ensuring robust protection for organizations worldwide.
SentinelOne (NYSE: S) reported impressive financial results for Q3 FY2023, with revenue increasing 106% year-over-year to $115.3 million, and annual recurring revenue (ARR) also up 106% to $487.4 million. The company saw a 55% growth in total customers, reaching over 9,250, including a near 100% increase in high-value customers with ARR over $100,000. Guidance for Q4 FY2023 suggests revenue will hit $125 million and full-year revenue is estimated at $420-$421 million. Gross margins were solid, with a GAAP gross margin of 64%.
SentinelOne (NYSE: S) announced at AWS re:Invent 2022 that its Singularity Cloud platform integrates with Amazon Security Lake, enhancing security data management and analysis. The collaboration utilizes the Open Cybersecurity Schema Framework (OCSF) for seamless log ingestion and analysis. This integration allows for near real-time threat detection against cloud threats, improving threat hunting and forensic capabilities. Customers can request early access to Skylight, which connects Singularity Cloud to Amazon Security Lake.
Laminar, a leader in public cloud security, has announced the general availability of its Cloud Data Security Platform on AWS Marketplace and its addition to the AWS Partner Network. This platform enables customers to discover, catalog, and prioritize data assets across various AWS technologies, ensuring data security without manual intervention. Laminar’s solutions have gained recognition, being named a representative vendor for Data Security Posture Management in Gartner’s 2022 Hype Cycle. This partnership positions Laminar to help customers enhance their security protocols while leveraging AWS's capabilities.
SentinelOne (NYSE: S) has expanded its Singularity XDR platform with Ping Identity, enhancing identity access management (IAM) capabilities. This integration allows for automated responses to cyber threats targeting identities and endpoints, thereby improving security for businesses. Key features include autonomous incident response, defense in depth, and no-code automation, which collectively strengthen the protection of high-value assets. The new solution aims to reduce response times and eliminate knowledge silos typical in Security Operation Centers.
SentinelOne (NYSE: S) has excelled in the inaugural MITRE Engenuity ATT&CK® Evaluation for Managed Services, demonstrating its Vigilance MDR service's effectiveness. This recognition follows three consecutive years of top performance in various MITRE evaluations. The evaluation emphasized the critical role of managed detection and response (MDR) services for faster threat mitigation. Key strengths included accurate adversary attribution, superior digital forensics and incident response capabilities, and real-time threat mitigation, highlighting SentinelOne's commitment to cybersecurity excellence.
SentinelOne, Inc. (NYSE:S) will release its fiscal Q3 2023 financial results on December 6, 2022, post-market close. The release will be followed by a conference call at 2:00 p.m. PT (5:00 p.m. ET). Investors can access the webcast on SentinelOne’s Investor Relations website. The company uses this platform for material disclosures, encouraging stakeholders to stay updated through various communication channels.
SentinelOne (NYSE: S) has received recognition for its workplace culture and leadership, marking its rapid global expansion. In 2022, the company hired hundreds of employees to meet increasing cybersecurity demands, with over 30% of leadership promotions awarded to women. Recognized by Fortune and Comparably, SentinelOne earned spots on multiple 'Best Workplaces' lists. CEO Tomer Weingarten emphasized the importance of their team in driving the company's success. The firm's culture promotes trust and integrity as they combat cyber threats with autonomous technology.
SentinelOne has launched the WatchTower Vital Signs Report app within its Singularity Marketplace, enhancing cybersecurity visibility for organizations and aiding cyber insurers in assessing risks. This innovation addresses the challenges faced by the cyber insurance industry, where premiums surged 79% YoY in Q2 2022 due to rising claim payouts. The report provides a real-time look at an organization's internal cyber health, allowing for more accurate underwriting and potentially lower premiums. Partnerships with Coalition and Corvus Insurance further strengthen this initiative.
SentinelOne (NYSE: S) announced a partnership with Mandiant to enhance threat detection and response through their integrated solutions. This collaboration will leverage SentinelOne’s Singularity XDR platform and Mandiant's expert threat intelligence, allowing organizations to combat advanced cyber threats effectively. Key benefits include automated incident triage, streamlined threat hunting, and accelerated remediation processes. The integration is currently in early access and will be available in Q4 2022 via Singularity Marketplace.
Laminar, a leader in public cloud data security, has unveiled Laminar Labs, a research team aimed at addressing cloud data security challenges. Led by CTO Oran Avraham, the team comprises industry experts with extensive cybersecurity experience. Their inaugural research focuses on versioning in cloud environments, highlighting the risk of shadow data in AWS, Azure, and Google Cloud. The insights aim to guide security teams in mitigating these risks. Laminar's cloud platform ensures complete data protection across various cloud providers, continuously securing sensitive data.
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