SentinelOne, Inc. (S): restructuring charge — SentinelOne Q1 revenue up 70% to $133.4M, announces 5% workforce reduction and lowered guidance

SentinelOne, Inc.

2024-Q1 EPS reported -$0.37 revenue$133,393,000

Revenue $133.4M (+70% YoY); ARR $563.6M (+75% YoY) includes $27M one-time ARR methodology adjustment.
GAAP gross margin 68% vs 65% YoY; non-GAAP op. margin (38)% vs (73)%; seventh quarter >25pp margin improvement.
Restructuring: ~5% workforce reduction (~100 employees); charges $3.9M-$6.7M; substantially complete in Q2FY24.
Guidance: Q2 rev $141M; FY2024 rev $590-600M (41% growth midpoint); non-GAAP op. margin (29)-(25)%.
CEO: macro pressures impacted deal sizes and pipeline; free cash flow margin improved 46pp YoY.

item 2.02 item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SentinelOne, Inc. reported second quarter of the fiscal year 2024 (ending July 31, 2023), and for the fiscal year 2024 (ending January 31, 2024) results: revenue $141 million. Guidance lowered.

Period: second quarter of the fiscal year 2024 (ending July 31, 2023), and for the fiscal year 2024 (ending January 31, 2024)
Revenue: $141 million
Guidance: lowered
Result: guidance update

Exact text from the filing

for the second quarter of the fiscal year 2024 (ending July 31, 2023), and for the fiscal year 2024 (ending January 31, 2024). Q2FY24 Guidance Full FY2024 Guidance Revenue $141 million $590-600 million Non-GAAP gross margin 74.5% 74-75% Non-GAAP operating margin (36)% (29)-(25)% These statements are forward-looking and actual results may differ materially as a

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SentinelOne, Inc. reported first quarter of fiscal year 2024 ended April 30, 2023 results: revenue $133.4 million. Guidance lowered.

Period: first quarter of fiscal year 2024 ended April 30, 2023
Revenue: $133.4 million
Guidance: lowered
Result: reported results

Exact text from the filing

outlook. First Quarter Fiscal Year 2024 Highlights (All metrics are compared to the first quarter of fiscal year 2023 unless otherwise noted) • Total revenue increased 70% to $133.4 million, compared to $78.3 million. • Annualized recurring revenue (ARR) increased 75% to $563.6 million as of April 30, 2023. As a result of a change in methodology and correction of

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

SentinelOne, Inc. announced a restructuring with charges of approximately $3.9 million to $6.7 million affecting Company-wide (approximately 5%, or approximately 100, of the Company's full-time employee).

Type: restructuring
Charge: approximately $3.9 million to $6.7 million
Affected area: Company-wide
Headcount: approximately 5%, or approximately 100, of the Company's full-time employee

Exact text from the filing

The Company currently estimates that it will incur approximately $3.9 million to $6.7 million in connection with the Plan

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Source: SEC EDGAR

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