SentinelOne Inc (NYSE:S) stock rose 20.76% (As on December 6, 11:29:19 AM UTC-4, Source: Google Finance) after the company delivered beats in earnings and revenue in its fiscal third quarter and forecast a better-than-expected outlook for its fourth quarter. SentinelOne’s stronger-than-expected figures were driven by customer growth. The company had more than 11,500 customers as of the end of the quarter, up from 9,250 as of the end of October last year, and new customers with annual recurring revenue of more than $100,000 grew 33% over the same period. Annual recurring revenue overall rose 43%, to $663.9 million, and SentinelOne is keeping its customers, with a dollar-based net retention revenue rate of over 115%. The company’s adjusted operating margin also saw significant improvement in the quarter, coming in at negative 11% versus negative 43% a year prior. Free cash flow margin was (16)%, 40 percentage points higher compared to (56)%. SentinelOne had $1.1 billion in cash, cash equivalents and investments on hand as of the end of October. The company’s market-leading, AI-based security across endpoint, cloud, and data continues to differentiate SentinelOne as a true innovator. The increasing velocity and complexity of cyber attacks require a new approach to cyber security. The company is delivering a modern, enterprise-wide unified security platform, helping enterprises manage risk and stay ahead of evolving threats now and into the future

Further, the company has recently announced a new partnership with Snyk Ltd. on Nov. 9 that integrates SentinelOne’s cloud workload protection platform, Singularity Cloud Workload Security, with the Snyk Developer Security Platform. The integration will correlate cloud runtime threat detections identified by SentinelOne with vulnerabilities found by Snyk in container images. That’s intended to enable application security and developer teams to collaborate and address the root causes of these issues more effectively.

S in the third quarter of FY 23 has reported the adjusted loss per share of 3 cents, beating the analysts’ estimates for the adjusted loss per share of 8 cents. The company had reported the adjusted revenue growth of 42 percent to $164.2 million in the third quarter of FY 23, beating the analysts’ estimates for revenue of $156.09 million.  Non-GAAP gross margin was 79%, compared to 71%. Non-GAAP operating margin was (11)%, compared to (43)%.

SentinelOne forecasted $169 million in revenue in its fiscal 2024 fourth quarter and $616 million for the full fiscal year. Both were solidly ahead of analysts’ consensus estimates of $166.5 million and $605.66 million.