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SentinelOne Inc. Class A (S+0.35%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports revenue of $210.6 million for the quarter, an increase from $164.2 million in the same period the previous year. This growth is attributed to new customer acquisitions and expanded sales to existing customers.
Cost of revenue for the quarter was $53.3 million, representing 25% of sales, compared to 27% in the same quarter of the previous year. The company attributes this improvement to revenue growth outpacing cost increases.
The company reported a net loss of $78.4 million for the quarter, compared to a net loss of $70.3 million in the previous year. The increase in net loss is primarily due to higher operating expenses.
Research and development expenses rose to $70.5 million from $52.3 million, driven by increased personnel-related costs and investments in cloud hosting.
Sales and marketing expenses increased to $123.7 million from $98.2 million, with the rise attributed to higher personnel costs and marketing activities.
General and administrative expenses were $52.3 million, slightly up from $51.2 million, due to increased personnel expenses offset by lower litigation costs.
SentinelOne reported cash, cash equivalents, and investments totaling $1.1 billion as of October 31, 2024. The company believes this is sufficient to support working capital and capital expenditure requirements for at least the next 12 months.
The company highlighted its continued focus on expanding its sales reach and enhancing its platform capabilities to drive future growth.
The filing also discusses the impact of global macroeconomic conditions and geopolitical events, noting that these factors could affect future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SentinelOne Inc. Class A quarterly 10-Q report dated December 4, 2024. To report an error, please email earnings@qz.com.