Shares of SentinelOne (S) are down 15% after the cybersecurity firm issued weak forward guidance for the current quarter.
The Silicon Valley-based company said it broke even on a per share basis during this year’s third quarter. That was slightly worse than a $0.01 U.S. profit forecast among analysts.
Revenue during the period totaled $210.6 million U.S., which was a bit better than revenue of $209.7 million U.S. that had been forecast on Wall Street. Sales were up 28% from a year ago.
SentinelOne highlighted that its annualized recurring revenue from subscription-based services increased 29% to $859.7 million U.S. during the third quarter.
That was slightly above analyst estimates that called for $857 million U.S.
Looking ahead, SentinelOne said that it expects revenue of $222 million U.S. for the current fourth quarter of the year, which was inline with analysts’ expectations.
SentinelOne’s cybersecurity software detects malware on laptops, mobile phones, and other devices that connect to corporate networks.
The company, which competes against CrowdStrike Holding (CRWD), is in the process of building a threat-detection cybersecurity platform that it hopes will boost its finances.
Prior to today (Dec. 5), SentinelOne’s stock had gained 11% this year to trade at $28.68 U.S. per share.
