SentinelOne, Inc. Files 2024 10-K Report

TL;DR

<b>SentinelOne, Inc. has filed its annual 10-K report for the fiscal year ending January 31, 2024.</b>

AI Summary

SentinelOne, Inc. (S) filed a Annual Report (10-K) with the SEC on March 27, 2024. SentinelOne, Inc. filed its 2024 10-K report on March 27, 2024, for the fiscal year ending January 31, 2024. The company's principal business address is 444 Castro Street, Suite 400, Mountain View, CA 94041. SentinelOne, Inc. was formerly known as Sentinel Labs, Inc., with name changes occurring on April 5, 2021, April 2, 2021, and August 5, 2013. The filing covers the fiscal year from February 1, 2023, to January 31, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking SentinelOne, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of SentinelOne's financial performance, business operations, and risk factors for the fiscal year 2024, crucial for investors to assess the company's current standing and future prospects. The detailed financial data and disclosures within the 10-K are essential for understanding the company's revenue streams, profitability, and balance sheet health, informing investment decisions.

Risk Assessment

Risk Level: medium — SentinelOne, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report, but the lack of specific financial performance data in the provided header information necessitates a medium risk assessment for immediate actionable insights.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to form a comprehensive investment thesis.

Key Numbers

• 2024-01-31 — Fiscal Year End (Fiscal year end date)
• 2024-03-27 — Filing Date (Date the 10-K was filed)
• 001-40531 — SEC File Number (SEC file number for SentinelOne, Inc.)

Key Players & Entities

• SentinelOne, Inc. (company) — Filer name
• Sentinel Labs, Inc. (company) — Former company name
• Mountain View, CA (location) — Business address city and state
• DE (location) — State of incorporation

FAQ

Industry Context

SentinelOne operates in the cybersecurity industry, specifically focusing on endpoint security solutions.

Regulatory Implications

The filing is a 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Thoroughly review the 'Risk Factors' section of the 10-K for potential threats to SentinelOne's business.
2. Analyze the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into revenue growth, profitability, and strategic initiatives.
3. Compare SentinelOne's financial performance and key metrics against industry peers and historical data.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-27: 10-K Filing Date — Date SentinelOne, Inc. filed its annual report.

Year-Over-Year Comparison

This is the initial 10-K filing provided for analysis; no prior filing data is available for comparison.

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 S The New York Stock Exchange Securit
• $16.67 — 31, 2023, based on the closing price of $16.67 for shares of the Registrant's Class A
• $621.2 million — ur revenue for fiscal 2024 and 2023 was $621.2 million and $422.2 million, respectively, repre
• $422.2 m — al 2024 and 2023 was $621.2 million and $422.2 million, respectively, representing year-
• $338.7 million — esult, our net loss for fiscal 2024 was $338.7 million compared with net loss of $378.7 millio
• $378.7 million — 338.7 million compared with net loss of $378.7 million in fiscal 2023. Industry Background C

Filing Documents

• s-20240131.htm (10-K) — 2121KB
• ex-1015x2021equityincentiv.htm (EX-10.15) — 238KB
• ex211sentinelone-globalsub.htm (EX-21.1) — 41KB
• ex-231consentofdeloittetou.htm (EX-23.1) — 2KB
• ex311sentinelone1312410-k.htm (EX-31.1) — 9KB
• ex312sentinelone1312410-k.htm (EX-31.2) — 9KB
• ex321sentinelone1312410-k.htm (EX-32.1) — 8KB
• ex-971xsentineloneinccompe.htm (EX-97.1) — 73KB
• s-20240131_g1.jpg (GRAPHIC) — 85KB
• sentinelone_logoxrgbx3cxpu.jpg (GRAPHIC) — 288KB
• sentinelone_logoxrgbx3cxpua.jpg (GRAPHIC) — 288KB
• 0001583708-24-000016.txt (&nbsp;) — 11667KB
• s-20240131.xsd (EX-101.SCH) — 67KB
• s-20240131_cal.xml (EX-101.CAL) — 130KB
• s-20240131_def.xml (EX-101.DEF) — 418KB
• s-20240131_lab.xml (EX-101.LAB) — 834KB
• s-20240131_pre.xml (EX-101.PRE) — 662KB
• s-20240131_htm.xml (XML) — 1316KB

Business

Item 1. Business 4

Risk Factors

Item 1A. Risk Factors 23

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 66

C . Cybersecurity

Item 1 C . Cybersecurity 66

Properties

Item 2. Properties 67

Legal Proceedings

Item 3. Legal Proceedings 67

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 67 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 68

[Reserved]

Item 6. [Reserved] 69

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 69

Quantitative and Qualitative Disclosures a bout Market Risk

Item 7A. Quantitative and Qualitative Disclosures a bout Market Risk 83

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 85

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 122

Controls and Procedures

Item 9A. Controls and Procedures 122

Other Information

Item 9B. Other Information 125

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 125 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 126

Executive Compensation

Item 11. Executive Compensation 126

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 126

Certain Relationships and Related Transaction s, and Director Independence

Item 13. Certain Relationships and Related Transaction s, and Director Independence 126

Principal Account ant Fees and Services

Item 14. Principal Account ant Fees and Services 126 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 127

Form 10-K Summary

Item 16. Form 10-K Summary 129

Signatures

Signatures 130 1 Table of Contents Special Note About Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), about us and our industry that involve substantial risks and uncertainties. All statements contained in this Annual Report on Form 10-K, other than statements of historical fact, including statements regarding our future operating results and financial condition, our business strategy and plans, market growth, and our objectives for future operations, 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 words and similar expressions are intended to identify forward-looking statements.

Forward-looking statements include, but are not limited to, statements about

Forward-looking statements include, but are not limited to, statements about: our future financial performance, including our expectations regarding our total revenue, cost of revenue, gross profit or gross margin, operating expenses, including changes in operating expenses and our ability to achieve and maintain future profitability; the global political, economic, and macroeconomic climate, whether in the cybersecurity industry in general, or among specific types of customers or within particular geographies, including but not limited to, actual or perceived instability in the banking industry, supply chain disruptions, a potential recession, inflation, potential uncertainty with respect to the federal debt ceiling and budget, and potential government shutdowns related thereto, and interest rate volatility; the impact of natural or man-made global events on our business, including wars and other regional geopolitical conflicts, including the conflicts in Ukraine, the Middle East and tensions between China and Taiwan; the impact of actions that we are taking to improve operational efficiencies and operating costs, including the restructuring plan we approved in June 2023; our business plan and our ability to effectively manage our growth; our total market opportunity; anticipated trends, growth rates, and challenges in our business and in the markets in which we operate; our ability to maintain the security and availability of our platform; market acceptance of our platform and our ability to increase adoption of our platform; beliefs and objectives for future operations; our ability to further penetrate our existing customer base and attract, retain, and expand our customer base; our ability to timely and effectively scale and adapt our platform; future acquisitions or investments in complementary companies, products, services, or technologies and our ability to integrate such acquisitions or investments, including our recent acquisitions of the Krebs

BUSINESS

ITEM 1. BUSINESS Overview Cybersecurity is indispensable to our digital way of life, with millions of cyberattacks occurring every year resulting in trillions of dollars in damages. We are in the midst of a generational shift in cybersecurity, ushered in by the ongoing digital transformation of the enterprise. Attacks can inflict damages that span operational disruption, leadership change, loss of customer trust, and intellectual property theft, among others. The rise and persistence of cyberattacks clearly shows that there is a long way to go from here. Enterprises must deploy solutions that enable them to stay one step ahead of attackers and address intrusion attempts in real-time at machine speed—empowering human operators with the speed, scale, visibility, and precision of technology. We envisioned a revolutionary data and AI paradigm where technology alone could autonomously prevent, detect, and respond to cyberattacks. It is time to fight machine with machine. We pioneered the world's first purpose-built AI-powered Extended Detection and Response (XDR) platform to make cybersecurity defense truly autonomous, from the endpoint and beyond. By leveraging AI and our fully unified security data lake for analytics, our Singularity Platform instantly defends against cyberattacks—performing at a faster speed, greater scale, and higher accuracy than otherwise possible from any single human or even a crowd. Purple AI unifies the entire platform experience, supercharges the security operations, and delivers improved efficiency with threat-hunting capabilities across multiple attack vectors. Our Singularity Platform ingests, correlates, and queries petabytes of structured and unstructured data from a myriad of ever-expanding disparate external and internal sources in real-time. We build rich context and deliver greater visibility by constructing a dynamic representation of data across an organization. As a result, our AI models are highly accurate, actionable, and aut