SentinelOne, Inc. (NYSE:S) Q4 2023 Earnings Call Transcript

Hamza Fodderwala: Good evening. Thank you for taking my question. Tomer, you touched on this earlier, but I just wanted to put a finer point on it. So, there have been some management departures in the last six months or so. Has that had any at all sort of affect downstream within the sales organization? And can you just comment on overall sales force attrition rates relative to, let’s say, one or two quarters ago? Thank you.

Tomer Weingarten: Sure. And I believe we have had. I think in our €“ earlier on the call, we touched exactly on the retention rates that we have for employees. I mean it’s still some of the best in the business, including the sales organization. We have also mentioned two quarters ago that we will be embarking on performance management as a way to hone in on our sales organization specifically. And that’s what we have done. The sales organization is actually executing better right now. We have seen no undesired attrition in the sales organization. I think if you look at our executive team as well, and we again repeated that on the earlier remarks, we have consolidated our product organization into the technology organization.

We have eliminated the CPO role. So, a lot of what we have been doing has been completely deliberate. I think if you look at the marketing organization, obviously, for us right now, it’s all about improving and getting better. If you looked at the Gartner Magic Quadrant for endpoint protection, Gartner cites different challenges for different vendors. The only challenge that they cited for us was actually on our marketing and our brand presence. So, to me, when I look at this, maybe this is a blessing in disguise, but we typically treat these things as just an opportunity to improve, an opportunity to be better. And again, we feel like we are already executing better. We are already making significant strides with the latent of securing a new CMO for the company.

So all-in-all, this had minimal effect on us and again, room for improvement.

Hamza Fodderwala: Thank you.

Operator: Thank you. The next question comes from Roger Boyd with UBS. Your line is open.

Roger Boyd: Great. Thank you for taking my questions. Just a quick high level one for me. As you continue to expand the functionality of the Singular Platform, what’s your perspective on a build by partner decisions? And has that framework shifted to any direction in the current environment?

Tomer Weingarten: It’s a great question, and it has many factors into it. I think we are still out there looking at potential opportunities. I mean obviously, this market is not so great of some of the private companies out there that might have some really, really interesting capabilities for the years to come. And on the flip side, obviously, as we were striving towards profitability, we also want to be very mindful as to how much we invest in building new capabilities. We feel we have a fairly substantial portfolio of capabilities truly today. So for us right now, a lot of it is about putting into market and continuing our growth in areas like cloud security, the security data lake capability, which today, it’s a first and only in the market for unified security data lake that can consolidate more data from other adjacent components in the enterprise.