S Q4 2022 Earnings

Call Details

• Call Title: SentinelOne Q4 2022 Earnings Call
• Date: March 15, 2022 at 9:00 PM UTC
• Management Team:
  • Tomer Weingarten (Chief Executive Officer)
  • Nick Warner (Chief Operating Officer)
  • Dave Bernhardt (Chief Financial Officer)
  • Doug Clark (Investor Relations)

Call Summary

Financial Performance

• Revenue for Q4 was $66 million, representing year-over-year revenue growth of 120%.
• ARR reached $292 million at quarter end, reflecting ARR growth of 123% year over year.
• Net new ARR in the quarter was $56 million, which the company identified as a new record.
• Total customers increased to over 6,700, representing total customer growth of more than 70% year over year and roughly 3,000 net new customers versus last year.
• International revenue grew 140% year over year and represented 31% of total revenue in the quarter.
• The company identified platform module adoption as a material revenue driver, with modules and Dataset representing over one-third of Q4 new business.

ARR / Recurring Revenue Growth

• ARR grew 123% year over year to $292 million, marking the fourth consecutive quarter of triple-digit ARR growth.
• Net retention rate was reported at 129%, which the company stated was above its target of over 120%.
• Customers with ARR over $100,000 grew 137% year over year to 520 customers.
• The company reported a record number of million-dollar-plus ARR customers and its largest-ever net new customer contract during the quarter.
• Management stated that new business driven by Singularity modules and Dataset rose to over one-third of new deals, up from about 20% a year ago.
• Cloud worker protection and data retention modules each delivered year-over-year ACV growth of over 10x according to company comments.