SentinelOne on Tuesday published its third quarter financial results, beating market estimates thanks to solid growth in customers with an annualized recurring revenue (ARR) over $100,000.
The autonomous cybersecurity company's total Q3 revenue was $56 million, a 128% increase over a year prior. Non-GAAP net loss per share came to 15 cents.
ARR for Q3 was $237 million, a 131% year-over-year increase. Analysts were expecting a loss per share of 18 cents on revenue of $49.58 million. Shares fell in after-hours trading by more than 10%.
The company did not provide specific numbers of total customers, but it said it grew more than 75% year-over-year to over 6,000 customers. Customers with ARR over $100,000 grew 140% year-over-year to 416.
For the fourth quarter, the company expects total revenue in the range of $60 million to $61 million. For the full fiscal year, the company expects $199 million to $200 million.
"Our business is performing extremely well. Q3 marks the third consecutive quarter of triple digit ARR growth," said Tomer Weingarten, CEO of SentinelOne. "We continued to make progress across all aspects of our growth strategy outlined during the IPO."