SentinelOne (NYSE:S) shares plummeted more than 35% on Friday after the company reported its Q1 results and guidance, which disappointed investors.
Q1 EPS came in at ($0.15), better than the Street estimate of ($0.17), and revenue of $133.4 million, compared to the Street estimate of $136.62 million.
Management stated that the sizes of deals, sales cycles, and rates of pipeline conversion are still being affected by macroeconomic pressures.
For Q2/24, the company expects revenue to be $141 million, missing the Street estimate of $151.9 million. For the full year, the company sees revenue at $590-$600 million, worse than the Street estimate of $638.5 million.