Revenue increased 124%
year-over-year
ARR up 122% year-over-year
SentinelOne, Inc. (NYSE: S) today announced financial results
for the second quarter of fiscal year 2023 ended July 31, 2022.
“We delivered hyper growth and outperformance across all aspects
of our business in Q2 - ARR, revenue, customer growth, net
retention, and margins,” said Tomer Weingarten, CEO of SentinelOne.
“I'm proud of our team's execution despite an evolving macro
environment. Through Singularity XDR, we're delivering what
enterprises need the most: best-in-class protection and superior
platform value.”
“Our business momentum remains extremely strong. We once again
delivered a combination of triple-digit growth while steadily
moving towards long term profitability. ARR growth accelerated to
122% and non-GAAP operating margins expanded 42 percentage points
year-over-year,” said Dave Bernhardt, CFO of SentinelOne. “We're
raising our full-year growth expectations above and beyond our Q2
outperformance.”
Letter to Shareholders
We have also published a letter to shareholders on the Investor
Relations section of our website at investors.sentinelone.com. The
letter provides further discussion of our results for the second
quarter of fiscal year 2023 as well as our full fiscal year 2023
financial outlook.
Second Quarter Fiscal 2023 Highlights (All metrics are
compared to the second quarter of fiscal year 2022 unless otherwise
noted)
- Total revenue increased 124% to $102.5 million, compared
to $45.8 million.
- Annualized recurring revenue (ARR) increased 122% to
$438.6 million as of July 31, 2022.
- Total customer count grew about 60% to over 8,600
customers as of July 31, 2022. Customers with ARR over $100K grew
117% to 755 as of July 31, 2022. Dollar-based net revenue retention
rate was a record 137%.
- Gross margin: GAAP gross margin was 65%, compared to
59%. Non-GAAP gross margin was 72%, compared to 62%.
- Operating margin: GAAP operating margin was (106)%,
compared to (147)%. Non-GAAP operating margin was (57)%, compared
to (98)%.
- Cash, cash equivalents and short-term investments were
$1.2 billion as of July 31, 2022.
Financial Outlook
We are providing the following guidance for the third quarter of
fiscal year 2023, ending October 31, 2022, and for our full fiscal
year 2023, ending January 31, 2023.
Q3FY23
Guidance
Full FY2023
Guidance
Revenue
$111 million
$415-417 million
Non-GAAP gross margin
71%
70.5-71%
Non-GAAP operating margin
(57)%
(58)-(55)%
These statements are forward-looking and actual results may
differ materially as a result of many factors. Refer to the
Forward-looking statements safe harbor below for information on the
factors that could cause our actual results to differ materially
from these forward-looking statements.
Guidance for non-GAAP financial measures excludes stock-based
compensation expense, employer payroll tax on employee stock
transactions, amortization expense of acquired intangible assets,
and acquisition-related compensation costs. We have not provided
the most directly comparable GAAP measures because certain items
are out of our control or cannot be reasonably predicted.
Accordingly, a reconciliation of non-GAAP gross margin and non-GAAP
operating margin is not available without unreasonable effort.
Webcast information
We will host a live audio webcast for analysts and investors to
discuss our earnings results for the second quarter of fiscal year
2023 and outlook for the third quarter of fiscal year 2023 and our
full fiscal year 2023 today, August 31, 2022, at 2:00 p.m. Pacific
time (5:00 p.m. Eastern time). The live webcast and a recording of
the event will be available on the Investor Relations section of
our website at investors.sentinelone.com.
We have used, and intend to continue to use, the Investor
Relations section of our website at investors.sentinelone.com as a
means of disclosing material nonpublic information and for
complying with our disclosure obligations under Regulation FD.
Forward-looking statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which statements involve risks and uncertainties,
including statements regarding our future growth, and future
financial and operating performance, including our financial
outlook for the third quarter of fiscal year 2023 and our full
fiscal year 2023, including non-GAAP gross profit and non-GAAP
operating margin, our impact of the acquisition of Attivo Networks,
Inc. (“Attivo”) on our business and financial results; statements
regarding total addressable market, business strategy, acquisitions
and strategic investments, the COVID-19 pandemic, our reputation
and performance in the market, general market trends, and our
objectives are forward-looking statements. The words “believe,”
“may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,”
“intend,” “could,” “would,” “project,” “target,” “plan,” “expect,”
or the negative of these terms and similar expressions are intended
to identify forward-looking statements. However, not all
forward-looking statements contain these identifying words.
There are a significant number of factors that could cause our
actual results to differ materially from statements made in this
press release, including: our limited operating history; our
history of losses; intense competition in the market we compete in;
fluctuations in our operating results; network or security
incidents against us; our ability to successfully integrate
acquisitions and strategic investments; defects, errors or
vulnerabilities in our platform; risks associated with managing our
rapid growth; the continuing impact of the COVID-19 pandemic on our
and our customers’ business; our ability to attract new and retain
existing customers, or renew and expand our relationships with
them; the ability of our platform to effectively interoperate
within our customers IT infrastructure; disruptions or other
business interruptions that affect the availability of our
platform; the failure to timely develop and achieve market
acceptance of new products and subscriptions as well as existing
products, subscriptions and support offerings; rapidly evolving
technological developments in the market for security products and
subscription and support offerings; length of sales cycles; risks
of securities class action litigation; general market, political,
economic, and business conditions, including those related to the
continuing impact of COVID-19 and geopolitical uncertainty.
Additional risks and uncertainties that could affect our
financial results are included under the captions “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” set forth in our filings and reports
with the Securities and Exchange Commission (“SEC”), including our
most recently filed Annual Report on Form 10-K, dated April 7,
2022, subsequent Quarterly Reports on Form 10-Q and other filings
and reports that we may file from time to time with the SEC, copies
of which are available on our website at investors.sentinelone.com
and on the SEC’s website at www.sec.gov.
You should not rely on these forward-looking statements, as
actual outcomes and results may differ materially from those
contemplated by these forward-looking statements as a result of
such risks and uncertainties. All forward-looking statements in
this press release are based on information available to us as of
the date hereof, and we do not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date of this press release or to
reflect new information or the occurrence of unexpected events,
except as required by law. We may not actually achieve the plans,
intentions, or expectations disclosed in our forward-looking
statements, and you should not place undue reliance on our
forward-looking statements.
Non-GAAP Financial Measures
In addition to our results determined in accordance with GAAP,
we believe the following non-GAAP measures are useful in evaluating
our operating performance. We use the following non-GAAP financial
information to evaluate our ongoing operations and for internal
planning and forecasting purposes. We believe that non-GAAP
financial information, when taken collectively, with the financial
information presented in accordance with GAAP, may be helpful to
investors because it provides consistency and comparability with
past financial performance. However, non-GAAP financial information
is presented for supplemental informational purposes only, has
limitations as an analytical tool, and should not be considered in
isolation or as a substitute for financial information presented in
accordance with GAAP.
Other companies, including companies in our industry, may
calculate similarly titled non-GAAP measures differently or may use
other measures to evaluate their performance, all of which could
reduce the usefulness of our non-GAAP financial measures as tools
for comparison. In addition, the utility of free cash flow as a
measure of our liquidity is limited as it does not represent the
total increase or decrease in our cash balance for a given
period.
Reconciliations between non-GAAP financial measures to the most
directly comparable financial measure stated in accordance with
GAAP are contained below. Investors are encouraged to review the
related GAAP financial measures and the reconciliation of these
non-GAAP financial measures to their most directly comparable GAAP
financial measures and not rely on any single financial measure to
evaluate our business.
As presented in the “Reconciliation of GAAP to Non-GAAP
Financial Information” table below, each of the non-GAAP financial
measures excludes one or more of the following items:
Stock-based compensation expense
Stock-based compensation expense is a non-cash expense that
varies in amount from period to period and is dependent on market
forces that are often beyond our control. As a result, management
excludes this item from our internal operating forecasts and
models. Management believes that non-GAAP measures adjusted for
stock-based compensation expense provide investors with a basis to
measure our core performance against the performance of other
companies without the variability created by stock-based
compensation as a result of the variety of equity awards used by
other companies and the varying methodologies and assumptions
used.
Employer payroll tax on employee stock transactions
Employer payroll tax expense related to employee stock
transactions are tied to the vesting or exercise of underlying
equity awards and the price of our common stock at the time of
vesting, which varies in amount from period to period and is
dependent on market forces that are often beyond our control. As a
result, management excludes this item from our internal operating
forecasts and models. Management believes that non-GAAP measures
adjusted for employer payroll taxes on employee stock transactions
provide investors with a basis to measure our core performance
against the performance of other companies without the variability
created by employer payroll taxes on employee stock transactions as
a result of the stock price at the time of employee exercise.
Amortization of acquired intangible assets
Amortization of acquired intangible assets expense are tied to
the intangible assets that were acquired in conjunction with
acquisitions, which results in non‑cash expenses that may not
otherwise have been incurred. Management excludes the expense
associated with intangible assets from non-GAAP measures to allow
for a more accurate assessment of our ongoing operations and
provides investors with a better comparison of period-over-period
operating results.
Acquisition-related compensation costs
Acquisition-related compensation costs include cash-based
compensation expense resulting from the employment retention of
certain employees established in accordance with the terms of the
Attivo acquisition. Acquisition-related compensation costs have
been excluded as they were specifically negotiated as part of the
Attivo acquisition in order to retain such employees and relate to
cash compensation that was made either in lieu of stock-based
compensation or where the grant of stock-based compensation awards
was not practicable. In most cases, these acquisition-related
compensation costs are not factored into management's evaluation of
potential acquisitions or our performance after completion of
acquisitions, because they are not related to our core operating
performance. In addition, the frequency and amount of such charges
can vary significantly based on the size and timing of acquisitions
and the maturities of the businesses being acquired. Excluding
acquisition-related compensation costs from non-GAAP measures
provides investors with a basis to compare our results against
those of other companies without the variability caused by purchase
accounting.
Income tax provision (benefit)
We believe that excluding the tax benefit associated with the
partial reversal of the valuation allowance against our deferred
tax assets for the second quarter of fiscal year 2023 provides our
senior management as well as other users of our financial
statements with a valuable perspective on the performance and
health of the business. This partial reversal relates to
realization of our deferred tax assets used to offset deferred tax
liabilities recorded in the Attivo acquisition. This one-time
benefit is not indicative of current or future operations and
expenses.
Non-GAAP Cost of Revenue, Non-GAAP Gross Profit, Non-GAAP
Gross Margin, Non-GAAP Loss from Operations, Non-GAAP Operating
Margin, Non-GAAP Net Loss and Non-GAAP Net Loss Per Share
We define these non-GAAP financial measures as their respective
GAAP measures, excluding the expenses referenced above. We use
these non-GAAP financial measures as part of our overall assessment
of our performance, including the preparation of our annual
operating budget and quarterly forecasts, to evaluate the
effectiveness of our business strategies, and to communicate with
our board of directors concerning our financial performance.
Free Cash Flow
We define free cash flow as cash used in operating activities
less purchases of property and equipment and capitalized
internal-use software costs. We believe free cash flow is a useful
indicator of liquidity that provides our management, board of
directors, and investors with information about our future ability
to generate or use cash to enhance the strength of our balance
sheet and further invest in our business and pursue potential
strategic initiatives.
Key Business Metrics
We monitor the following key metrics to help us evaluate our
business, identify trends affecting our business, formulate
business plans, and make strategic decisions.
Annualized Recurring Revenue
We believe that ARR is a key operating metric to measure our
business because it is driven by our ability to acquire new
subscription and capacity customers and to maintain and expand our
relationship with existing customers. ARR represents the annualized
revenue run rate of our subscription and capacity contracts at the
end of a reporting period, assuming contracts are renewed on their
existing terms for customers that are under contracts with us.
Customers with ARR of $100,000 or More
We believe that our ability to increase the number of customers
with ARR of $100,000 or more is an indicator of our market
penetration and strategic demand for our platform. We define a
customer as an entity that has an active subscription for access to
our platform. We count MSPs, MSSPs, MDRs, and OEMs, who may
purchase our products on behalf of multiple companies, as a single
customer. We do not count our reseller or distributor channel
partners as customers.
Dollar-Based Net Retention Rate
We believe that our ability to retain and expand our revenue
generated from our existing customers is an indicator of the
long-term value of our customer relationships and our potential
future business opportunities. Dollar-based net retention rate
measures the percentage change in our ARR derived from our customer
base at a point in time. To calculate these metrics, we first
determine Prior Period ARR, which is ARR from the population of our
customers as of 12 months prior to the end of a particular
reporting period. We calculate Net Retention ARR as the total ARR
at the end of a particular reporting period from the set of
customers that is used to determine Prior Period ARR. Net Retention
ARR includes any expansion, and is net of contraction and attrition
associated with that set of customers. NRR is the quotient obtained
by dividing Net Retention ARR by Prior Period ARR.
Source String: SentinelOne Category: Investors
SENTINELONE, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(in thousands)
(unaudited)
July 31,
January 31,
2022
2022
Assets
Current assets:
Cash and cash equivalents
$
269,493
$
1,669,304
Short-term investments
949,883
374
Accounts receivable, net
106,380
101,491
Deferred contract acquisition costs,
current
30,894
27,546
Prepaid expenses and other current
assets
33,348
18,939
Total current assets
1,389,998
1,817,654
Property and equipment, net
33,031
24,918
Operating lease right-of-use assets
25,270
23,884
Deferred contract acquisition costs,
non-current
44,429
41,022
Intangible assets, net
159,677
15,807
Goodwill
540,308
108,193
Restricted cash, non-current
64,207
2,747
Other assets
8,174
7,956
Total assets
$
2,265,094
$
2,042,181
Liabilities and Stockholders’
Equity
Current liabilities:
Accounts payable
$
14,469
$
9,944
Accrued liabilities
31,913
22,657
Accrued payroll and benefits
38,576
61,150
Operating lease liabilities, current
4,004
4,613
Deferred revenue, current
244,207
182,957
Total current liabilities
333,169
281,321
Deferred revenue, non-current
100,844
79,062
Operating lease liabilities,
non-current
25,261
24,467
Other liabilities
66,004
6,543
Total liabilities
525,278
391,393
Stockholders’ equity:
Preferred stock
—
—
Class A common stock
20
16
Class B common stock
8
11
Additional paid-in capital
2,549,614
2,271,980
Accumulated other comprehensive income
(loss)
(2,013
)
454
Accumulated deficit
(807,813
)
(621,673
)
Total stockholders’ equity
1,739,816
1,650,788
Total liabilities and stockholders’
equity
$
2,265,094
$
2,042,181
SENTINELONE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(in thousands, except share
and per share data)
(unaudited)
Three Months Ended July
31,
Six Months Ended July
31,
2022
2021
2022
2021
Revenue
$
102,505
$
45,750
$
180,760
$
83,145
Cost of revenue(1)
36,261
18,788
63,400
37,071
Gross profit
66,244
26,962
117,360
46,074
Operating expenses:
Research and development(1)
54,989
31,037
100,870
58,857
Sales and marketing(1)
79,000
40,970
139,641
77,150
General and administrative(1)
40,447
22,110
75,337
38,834
Total operating expenses
174,436
94,117
315,848
174,841
Loss from operations
(108,192
)
(67,155
)
(198,488
)
(128,767
)
Interest income
3,222
21
4,309
44
Interest expense
(607
)
(479
)
(612
)
(782
)
Other income (expense), net
427
(373
)
136
(966
)
Loss before provision for income taxes
(105,150
)
(67,986
)
(194,655
)
(130,471
)
Provision for income taxes
(8,844
)
177
(8,515
)
326
Net loss
$
(96,306
)
$
(68,163
)
$
(186,140
)
$
(130,797
)
Net loss per share attributable to Class A
and Class B common stockholders, basic and diluted
$
(0.35
)
$
(0.57
)
$
(0.68
)
$
(1.59
)
Weighted-average shares used in computing
net loss per share attributable to Class A and Class B common
stockholders, basic and diluted
277,417,227
120,520,061
273,424,105
82,394,440
(1) Includes stock-based compensation
expense as follows:
Cost of revenue
$
2,399
$
840
$
4,247
$
1,223
Research and development
13,495
8,823
23,958
15,962
Sales and marketing
9,715
3,905
16,811
5,952
General and administrative
15,392
7,825
27,615
11,693
Total stock-based compensation expense
$
41,001
$
21,393
$
72,631
$
34,830
SENTINELONE, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Six Months Ended July
31,
2022
2021
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss
$
(186,140
)
$
(130,797
)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization
10,794
3,637
Amortization of deferred contract
acquisition costs
32,532
9,087
Non-cash operating lease costs
1,609
1,408
Stock-based compensation expense
72,631
34,830
Other
(1,619
)
105
Changes in operating assets and
liabilities, net of effects of acquisition
Accounts receivable
480
(10,339
)
Prepaid expenses and other assets
(9,151
)
(11,190
)
Deferred contract acquisition costs
(39,287
)
(16,477
)
Accounts payable
6,094
(5,108
)
Accrued liabilities
4,148
6,559
Accrued payroll and benefits
(23,669
)
6,864
Operating lease liabilities
(2,737
)
(1,919
)
Deferred revenue
31,285
37,707
Other liabilities
(8,447
)
2,842
Net cash used in operating activities
(111,477
)
(72,791
)
CASH FLOW FROM INVESTING ACTIVITIES:
Purchases of property and equipment
(4,101
)
(1,685
)
Purchases of intangible assets
(194
)
—
Capitalization of internal-use
software
(6,028
)
(2,852
)
Purchases of short-term investments
(1,243,594
)
—
Maturities of short-term investments
291,845
—
Cash paid for acquisition, net of cash and
restricted cash acquired
(281,032
)
(3,449
)
Net cash used in investing activities
(1,243,104
)
(7,986
)
CASH FLOW FROM FINANCING ACTIVITIES:
Payments of deferred offering costs
(186
)
(5,068
)
Repayment of debt
—
(20,000
)
Proceeds from exercise of stock
options
8,382
5,827
Proceeds from issuance of common stock
under the employee stock purchase plan
8,682
—
Proceeds from initial public offering and
private placement, net of underwriting discounts and
commissions
—
1,388,563
Net cash provided by financing
activities
16,878
1,369,322
EFFECT OF EXCHANGE RATE CHANGES ON CASH
AND CASH EQUIVALENTS
—
1,146
NET CHANGE IN CASH, CASH EQUIVALENTS, AND
RESTRICTED CASH
(1,337,703
)
1,289,691
CASH, CASH EQUIVALENTS, AND RESTRICTED
CASH–Beginning of period
1,672,051
399,112
CASH, CASH EQUIVALENTS, AND RESTRICTED
CASH–End of period
$
334,348
$
1,688,803
SENTINELONE, INC.
RECONCILIATION OF GAAP TO
NON-GAAP FINANCIAL INFORMATION
(in thousands, except
percentages and per share data)
(unaudited)
Three Months Ended July
31,
Six Months Ended July
31,
2022
2021
2022
2021
Cost of revenue reconciliation:
GAAP cost of revenue
$
36,261
$
18,788
$
63,400
$
37,071
Stock-based compensation expense
(2,399
)
(840
)
(4,247
)
(1,223
)
Employer payroll tax on employee stock
transactions
(35
)
—
(36
)
—
Amortization of acquired intangible
assets
(5,139
)
(558
)
(5,679
)
(1,049
)
Acquisition-related compensation
(148
)
—
(148
)
—
Non-GAAP cost of revenue
$
28,540
$
17,390
$
53,290
$
34,799
Gross profit reconciliation:
GAAP gross profit
$
66,244
$
26,962
$
117,360
$
46,074
Stock-based compensation expense
2,399
840
4,247
1,223
Employer payroll tax on employee stock
transactions
35
—
36
—
Amortization of acquired intangible
assets
5,139
558
5,679
1,049
Acquisition-related compensation
148
—
148
—
Non-GAAP gross profit
$
73,965
$
28,360
$
127,470
$
48,346
Gross margin reconciliation:
GAAP gross margin
65
%
59
%
65
%
55
%
Stock-based compensation expense
2
%
2
%
2
%
1
%
Employer payroll tax on employee stock
transactions
—
%
—
%
—
%
—
%
Amortization of acquired intangible
assets
5
%
1
%
3
%
1
%
Acquisition-related compensation
—
%
—
%
—
%
—
%
Non-GAAP gross margin*
72
%
62
%
70
%
58
%
Research and development expense
reconciliation:
GAAP research and development expense
$
54,989
$
31,037
$
100,870
$
58,857
Stock-based compensation expense
(13,495
)
(8,823
)
(23,958
)
(15,962
)
Employer payroll tax on employee stock
transactions
(97
)
—
(135
)
—
Acquisition-related compensation
(359
)
—
(359
)
—
Non-GAAP research and development
expense
$
41,038
$
22,214
$
76,418
$
42,895
Sales and marketing expense
reconciliation:
GAAP sales and marketing expense
$
79,000
$
40,970
$
139,641
$
77,150
Stock-based compensation expense
(9,715
)
(3,905
)
(16,811
)
(5,952
)
Employer payroll tax on employee stock
transactions
(126
)
—
(279
)
—
Amortization of acquired intangible
assets
(2,143
)
(189
)
(2,326
)
(355
)
Acquisition-related compensation
(535
)
—
(535
)
—
Non-GAAP sales and marketing expense
$
66,481
$
36,876
$
119,690
$
70,843
General and administrative expense
reconciliation:
GAAP general and administrative
expense
$
40,447
$
22,110
$
75,337
$
38,834
Stock-based compensation expense
(15,392
)
(7,825
)
(27,615
)
(11,693
)
Employer payroll tax on employee stock
transactions
(159
)
—
(449
)
—
Amortization of acquired intangible
assets
(19
)
(19
)
(37
)
(36
)
Acquisition-related compensation
(336
)
—
(336
)
—
Non-GAAP general and administrative
expense
$
24,541
$
14,266
$
46,900
$
27,105
Operating loss reconciliation:
GAAP operating loss
$
(108,192
)
$
(67,155
)
$
(198,488
)
$
(128,767
)
Stock-based compensation expense
41,001
21,393
72,631
34,830
Employer payroll tax on employee stock
transactions
417
—
899
—
Amortization of acquired intangible
assets
7,301
766
8,042
1,440
Acquisition-related compensation
1,376
—
1,376
—
Non-GAAP operating loss*
$
(58,096
)
$
(44,996
)
$
(115,539
)
$
(92,497
)
Operating margin
reconciliation:
GAAP operating margin
(106
)%
(147
)%
(110
)%
(155
)%
Stock-based compensation expense
40
%
47
%
40
%
42
%
Employer payroll tax on employee stock
transactions
—
%
—
%
—
%
—
%
Amortization of acquired intangible
assets
7
%
2
%
4
%
2
%
Acquisition-related compensation
1
%
—
%
1
%
—
%
Non-GAAP operating margin*
(57
)%
(98
)%
(64
)%
(111
)%
Net loss reconciliation:
GAAP net loss
$
(96,306
)
$
(68,163
)
$
(186,140
)
$
(130,797
)
Stock-based compensation expense
41,001
21,393
72,631
34,830
Employer payroll tax on employee stock
transactions
417
—
899
—
Amortization of acquired intangible
assets
7,301
766
8,042
1,440
Acquisition-related compensation
1,376
—
1,376
—
Income tax provision (benefit)
(9,667
)
—
(9,667
)
—
Non-GAAP net loss
$
(55,878
)
$
(46,004
)
$
(112,859
)
$
(94,527
)
Basic and diluted EPS
reconciliation:
GAAP net loss per share, basic and
diluted
$
(0.35
)
$
(0.57
)
$
(0.68
)
$
(1.59
)
Stock-based compensation expense
0.15
0.18
0.27
0.42
Employer payroll tax on employee stock
transactions
—
—
—
—
Amortization of acquired intangible
assets
0.03
0.01
0.03
0.02
Acquisition-related compensation
—
—
0.01
—
Income tax provision (benefit)
(0.03
)
—
(0.04
)
—
Non-GAAP net loss per share, basic and
diluted*
$
(0.20
)
$
(0.38
)
$
(0.41
)
$
(1.15
)
* Certain figures may not sum due to
rounding.
SENTINELONE, INC.
SELECTED CASH FLOW
INFORMATION
(in thousands)
(unaudited)
Reconciliation of cash used in
operating activities to free cash flow
Three Months Ended July
31,
Six Months Ended July
31,
2022
2021
2022
2021
GAAP net cash used in operating
activities
$
(62,126
)
$
(41,993
)
$
(111,477
)
$
(72,791
)
Less: Purchases of property and
equipment
(1,293
)
(905
)
(4,101
)
(1,685
)
Less: Capitalized internal-use
software
(3,454
)
(1,839
)
(6,028
)
(2,852
)
Free cash flow
$
(66,873
)
$
(44,737
)
$
(121,606
)
$
(77,328
)
Net cash used in investing activities
$
(384,579
)
$
(2,744
)
$
(1,243,104
)
$
(7,986
)
Net cash provided by financing
activities
$
11,974
$
1,367,405
$
16,878
$
1,369,322
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220831005742/en/
Investor relations: Doug Clark E: investors@sentinelone.com
Press: Jake Schuster fama PR for SentinelOne P: 617-986-5000 E:
S1@famapr.com
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