www.msspalert.com Open in urlscan Pro
2606:4700:20::681a:86e  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Webcasts
Resources
Sponsors
About
Contact
Log inCreate Account
RSSView Conferences
Open Search Bar

ADVERTISEMENT




MDR, XDR, EDR


SENTINELONE CEO TALKS CROWDSTRIKE OUTAGE AS CUSTOMERS LOOK AT ALTERNATIVES

August 27, 2024
Share

By Jessica C. Davis


SentinelOne is seeing interest from CrowdStrike customers who weathered the
recent IT outage and are looking to diversify their cybersecurity risk.

That’s according to CEO Tomer Weingarten speaking during SentinelOne’s Q2
earnings call where he addressed questions about the outage and its impact on
the competitive landscape for advanced cybersecurity services.

“We're talking about the largest outage, systematically impacting millions of
people, disrupting thousands of businesses, costing billions of dollars,” he
told analysts and investors during the call.

“And this was a global, practically fleet wide outage, totally unprecedented in
reach and scale. Secondly, the duration of the outage was also quite
unprecedented. Most modern technology services don't really take days to come
back online. This has been days to weeks of required manual intervention and
reboot of millions of affected devices,” he said.

ADVERTISEMENT




SENTINELONE CEO: 'NEVER SEEN ANYTHING LIKE THIS IN MY LIFETIME'

“I've truly never seen anything like this in my lifetime,” Weingarten told
analysts and investors in answer to a question during the company’s quarterly
earnings call.

Is the outage and its after effects something that will cause competitive
migrations? How has the CrowdStrike IT outage impacted the sales pipeline of
companies such as SentinelOne? Weingarten provided some perspective on that
question.

“At BlackHat a few weeks ago we heard from enterprises that they want to
diversify cybersecurity technologies and mitigate the risk of another global
outage,” Weingarten said. “There was a lot of excitement and interest in
SentinelOne. But companies do not make snap decisions and need to figure out how
to make the transition. But this shift is positive for SentinelOne in the
broader enterprise security landscape.”

ADVERTISEMENT



Weingarten added that this has resulted in a significant pipeline pickup for the
company. However, most companies do not just rip and replace such a significant
technology, and Weingarten warned that sale cycles typically last nine to 12
months.

“Decisions are going to play out over time,” he said. People are looking at us
obviously as the number one alternative. People are looking to diversify risk
and not really concentrate more and more with one vendor.”


SENTINELONE CEO: WINDOWS OS IS 'QUITE FRAGILE'

Weingarten also addressed Microsoft’s upcoming Security Summit on September 10,
scheduled by the software giant to address the issues raised by the outage.
Weingarten noted that Microsoft has tried to move away from broad-based kernel
access a few times over the past 10 years and has failed.

“The Windows operating system proves again and again that it is quite fragile,
and I think that is the bigger issue at hand,” he said. “When you think about it
that way, the level of refactoring that might need to take place with the
operating system I think is going to be substantial.”

Weingarten added that the company is taking the opportunity to invest in both
its workforce and its partner ecosystem to prepare for the opportunities coming
its way.


SENTINELONE Q2 EARNINGS RESULTS AND OUTLOOK

SentinelOne reported revenue growth of 33% to $199 million and annualized
recurring revenue (ARR) growth of 32% to $806 million for its second fiscal
quarter ended July 31. The company reported a GAAP net loss of $69 million,
narrowed from a GAAP net loss of $89.5 million for the same quarter last year.

Looking ahead, SentinelOne is providing guidance for Q3 of revenue of $209.5
million and for the full year revenue of $815 million.


Jessica C. Davis

Jessica C. Davis is editorial director of CyberRisk Alliance’s channel brands,
MSSP Alert, MSSP Alert Live, and ChannelE2E. She has spent a career as a
journalist and editor covering the intersection of business and technology
including chips, software, the cloud, AI, and cybersecurity. She previously
served as editor in chief of Channel Insider and later of MSP Mentor where she
was one of the original editors running the MSP 501.


RELATED

Threat Intelligence

CRITICAL START ARMS MSSPS, MSPS WITH CYBER THREAT INTELLIGENCE

Jim MastersAugust 22, 2024

Critical Start's Cyber Threat Intelligence Report examines the top threats
observed in the first half of 2024 along with emerging cybersecurity trends.

Mergers and Acquisitions

MSP UPDATE: HUNTRESS CEO RECOUNTS EARLY CHALLENGES AND HOW INVESTORS NOW EMBRACE
SMBS AND MSPS

MSSP Alert StaffAugust 16, 2024

New Charter labels the Dynamic Edge deal as a strategic move, both in terms of
geographic reach and service offerings.

MDR

GUARDZ OFFERS NO-COST LICENSE TO MSPS WITH COMMUNITY SHIELD PLAN

Jim MastersAugust 14, 2024

The Community Shield plan from Guardz is designed to help MSPs secure their
internal operations while providing a unified platform for threat detection and
response.





Privacy StatementAll contents Copyright © 2024 MSSP Alert and CyberRisk Alliance

COOKIES

This website uses cookies to improve your experience, provide social media
features and deliver advertising offers that are relevant to you.

If you continue without changing your settings, you consent to our use of
cookies in accordance with our privacy policy. You may disable cookies.

Accept cookies