Dec 4 (Reuters) – Cybersecurity firm SentinelOne forecast fourth-quarter revenue below analysts’ expectations on Thursday, and said Chief Financial Officer Barbara Larson will step down.
The shares of the company fell more than 7% in extended trading.
The muted outlook underscores the challenges SentinelOne faces as it navigates an increasingly competitive cybersecurity market, where artificial intelligence tools are reshaping threat detection and endpoint protection.
SentinelOne develops the AI-powered Singularity platform, which ingests and analyzes security data in real time, automates threat detection and response, and reduces manual work for security teams.
It competes with the likes of firms such as CrowdStrike and Palo Alto Networks, which maintain a dominant position in the industry.
The Mountain View, California-based company forecast fourth-quarter revenue of $271 million, compared to analysts’ estimates of $273.1 million, according to data compiled by LSEG.
For the third quarter, SentinelOne posted revenue of $258.9 million, compared to analysts’ estimates of $257.7 million, and highlighted strong demand for its AI-native security platform.
The company also announced that CFO Larson will leave in mid-January to pursue an opportunity outside the cybersecurity industry.
Larson, who helped guide SentinelOne to positive results, will be succeeded on an interim basis by Chief Growth Officer Barry Padgett, a former SAP and Stripe executive, while the company searches for a permanent replacement.
(Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)