- SentinelOne filed with the Securities and Exchange Commission to list on the New York Stock Exchange under the ticker symbol S.
- The cybersecurity company saw revenue grow 108% year over year, while net losses more than doubled to $62.6 million.
- Most recently, the company's autonomous endpoint security stopped SUNBURST — the malware that tricked systems into uploading it as an update to the SolarWinds' Orion software, which is used by thousands of organizations.
Cybersecurity company SentinelOne filed its IPO prospectus with the Securities and Exchange Commission on Thursday, and plans to list on the New York Stock Exchange under the ticker symbol S.
In the three months ending April 30, revenue grew 108% year over year to $37.4 million, while net losses more than doubled from $26.6 million to $62.6 million, according to the filing.
SentinelOne raised $276 million in a round last November led by Tiger Global, part of a near-$500 million haul from investors in 2020 that tripled its valuation from the beginning of the year to the end, from $1 billion up to $3 billion.
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SentinelOne competitors have been among the big IPO winners in recent years, with CrowdStrike — which CEO Tomer Weingarten has referred to as its "main competitor" — now valued at over $46 billion. But more of its competitors are also now talking about the threat posed by SentinelOne. In the past few months, CrowdStrike and Qualys for the first time called out SentinelOne as a competitor in their annual reports. And after the coronavirus pandemic arrived, Palo Alto Networks CEO Nikesh Arora began talking about SentinelOne in conversations with analysts — he referenced the company three times on a recent earnings call.
Most recently, the company's autonomous endpoint security stopped SUNBURST — the malware that tricked systems into uploading it as an update to the SolarWinds' Orion software, which is used by thousands of organizations. AT&T, JetBlue and McKesson were among the SentinelOne customers protected in the SolarWinds hack.
The prospectus says SentinelOne intends to list Class A common stock, though the number of shares and price range for the proposed offering have yet to be determined. It also identifies Morgan Stanley, Goldman Sachs, Bank of America Securities, Barclays and Wells Fargo Securities as the lead underwriters.
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