SentinelOne CEO Tomer Weingarten insists the cybersecurity company has every intention of remaining a publicly traded, independent company. After this year’s second-quarter earnings release, Weingarten told CNBC that despite many rumors about a potential acquisition, SentinelOne is “focused solely on our individual path.” said.
Weingarten said on an investor call Thursday that he had just terminated a “reseller agreement” with Wiz and that his partnership with the startup remains ongoing.
“Wiz is a great little startup and we like working with them. But again, we didn’t see any contribution from that in terms of reseller agreements. We didn’t feel like it was going to be fulfilled on their end, and we decided to end it,” Weingarten said.
SentinelOne on Thursday raised its full-year revenue forecast, capitalizing on the successful adoption of AI-powered security products as macroeconomic concerns fade. The company offers cybersecurity products powered by artificial intelligence and is expected to see steady demand as companies largely maintain their security budgets in the face of rising cybersecurity attacks.
The company said it expects full-year sales to be $605 million, up from the range of $590 million to $600 million it had expected in June. Analysts on average expected the deal to be worth $594.77 million, according to Refinitiv data.
The cybersecurity company also forecast third-quarter revenue of $156 million, beating analysts’ expectations of $154.2 million.
Peer CrowdStrike also raised its full-year outlook on Wednesday and issued a positive outlook for the third quarter.
SentinelOne’s total customer count grew approximately 30% to more than 11,000 as of July 31. This is due to the steady adoption of the company’s flagship product, the Singularity Platform, by both public and private customers.
The company posted a loss of 8 cents per share, compared to expectations for a loss of 14 cents per share excluding items.
Sentinel One closed Friday’s trading with a market capitalization of more than $5 billion for the first time in three months.
“Obviously, there’s an incredible amount of rumors and speculation in the market,” Weingarten told CNBC. “If you look at our numbers, you can immediately see that we are a high-growth company and a high-performing company. We are focused solely on our own unique path. has demonstrated incredible margin improvements along with incredible growth, so right now we’re just doing our best to drive innovation and protect our customers.”