S NYSE Russell 1000 Earnings call
SentinelOne (S) · Q2 2026 results and valuation
Share price: $23.78 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · fiscal Q2 2027 · published 27 Aug 2026 and 28 May 2026
Net loss widened on the previous quarter, guidance raised. Management sounded very upbeat, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss widened
Net income vs Q1 2026
Guidance raised
Net income -93.4M vs -76.2M
Revenue +5.5%
Net income -93.4M vs -72.0M in Q2 2025 and -76.2M last quarter.
2 · How management spoke
Very upbeat
More upbeat than 95% of company calls
Answers to analysts: very upbeat, in line with the script.
Similar to last call.
3 · What stood out
SentinelOne reported record net new ARR of $44 million in Q1, representing a 55% increase year-over-year and the fourth consecutive quarter of positive net new ARR.
Valuation
Is SentinelOne undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2026-01-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 20.0% growth a year (3-year revenue growth), the model's fair value is $13.31 a share — the stock trades 79% above it. Today's price assumes 29.1% growth a year.
Current price
$23.78
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+29.1% for 10 yrs
Fair value / share
$13.31
Buy below
$9.99
Price vs fair value
Overvalued 79%
Price vs buy-below price
Overvalued 138%
Read between the lines
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Guidance
For Q3, SentinelOne expects revenue in the range of $309 million to $311 million, representing 20% year-over-year growth at the midpoint.
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Guidance
Revenue grew 21% year-over-year to $292 million, exceeding the top end of the company's guidance range.
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Fading
New customer acquisition and existing customer expansion drove the acceleration to 23% ARR growth in Q1.
Source quote
“Total ARR growth accelerated to 23% in Q1 driven by strong new logo acquisition and expansion with existing customers. We delivered strong revenue growth, record net new ARR growth and significant operating margin improvement year-over-year. We delivered $44 million in net new ARR in Q1, a 55% increase year-over-year, setting a new company record.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Reflecting on the overall performance, we made exceptional progress across every dimension of our business, sustaining top-tier revenue growth, accelerating profitability and extending our technology leadership across the highest growth...”
“Our competitive win rates increased sequentially and year-over-year, anchored by growing platform momentum and consolidation wins.”
“Our AI security leadership and deepening platform adoption give us a clear line of sight to durable profitable growth, and we are executing against that opportunity with conviction.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-07-31)
| Metric | Q2 2026period end 2026-07-31 | Q1 2026period end 2026-04-30 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 292.0M | 276.7M | +5.5% | 242.2M | +20.6% |
| Gross profit | 210.4M | 198.7M | +5.9% | 181.7M | +15.8% |
| Operating income | -90.8M | -79.7M | Loss widened | -80.6M | Loss widened |
| Net income | -93.4M | -76.2M | Loss widened | -72.0M | Loss widened |
| EPS | -0.27 | -0.23 | Loss widened | -0.22 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- At the same time, AI also gives defenders the power to transform security outcomes through accelerated response times and unmatched...
- The approach of bundling fragmented products or marketing disjointed platforms is not the answer.
- This was driven by both strong new logo acquisition and broader platform adoption within SentinelOne's existing customer base.
- SentinelOne exceeded all top and bottom line guided metrics, achieved record profitability and are raising its fiscal year '27 revenue...
- If you look at the first half, SentinelOne delivered 22% net new ARR growth while simultaneously significantly expanding operating…
Faded since Q1 2026
- Fading As you've seen in the past, SentinelOne is focused on driving operational excellence all the time modestly, and simplifying its processes...
- Fading SentinelOne has established clear technology leadership across the most critical domains of cybersecurity, including AI, data, cloud and…
- Fading SentinelOne's revenue growth accelerated sequentially, growing 21% year-over-year to $277 million.
- Fading SentinelOne's international markets revenue grew 25% and represented 39% of total revenue, demonstrating strong international demand and a…
Latest announcements
Official filings, newest first.
- Results of operations; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations; Restructuring costs; Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Results of operations; Director or officer change; Regulation FD disclosure · SEC 8-K