SentinelOne reported adjusted/non-GAAP loss per share of USD 0.13 for Q4 2023 which ended January 31, 2023, compared to loss per share of USD 0.17 in Q4 2022. Revenue increased 92% YoY reaching USD 126.1 million during the quarter compared to USD 65.5 million during the same period last year.

Annual recurring revenue (ARR) for the quarter grew by 88% YoY to USD 548.7 million as a result of an increase in customer count which was up by around 50% to more than 10,000 customers. Customers with more than USD 100,000 ARR increased by 74% YoY to 905 during the same period, allowing the net retention rate to remain above 130%.

Adjusted gross margins amounted to 75%, compared to 66% during the same period as of Q4 last year. Adjusted operating losses were recorded at USD 43.7 million, a minor increase from USD 43.4 million recorded during the same period last year. Adjustments to the earnings figures are primarily related to stock-based compensation and related taxes, as well as amortization of acquired intangible assets.

For full-year FY2023, the company recorded an adjusted EPS of USD 0.70, with total revenue amounting to USD 422.2 million. Adjusted gross margin increased to 72% compared to 63% in FY2022, while adjusted loss from operations increased 19.5% YoY reaching USD 208.8 million compared to USD 174.6 million last year.

Management guidance for revenues for Q1 2024 (ending April 30, 2023) is expected to be USD 137 million with adjusted gross margin and adjusted operating margin expected to be 73.5% and negative 41%, respectively.

For full-year FY2024 revenue is expected to range between USD 631 million and USD 640 million (implied YoY growth of 49.5%–51.6%), adjusted gross margin to range between 73.5% and 74.5%, with adjusted operating margin to range between -25% and -29%.