# SentinelOne Inc. (S) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-18  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/S/thesis · /stocks/S/memo

## Financial Snapshot

---
ticker: S
step: 04
generated: 2026-05-13
source: quick-research
---

### SentinelOne, Inc. (S) — Financial Snapshot

*Note: SentinelOne's fiscal year ends January 31.*

#### Income Statement Summary

| Metric | FY2023 | FY2024 | FY2025 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $422M | $621M | $822M | +32% |
| Non-GAAP Gross Margin | ~72% | ~76% | ~78% | improving |
| GAAP Operating Margin | ~-65% | ~-45% | ~-30% | improving |
| Non-GAAP Operating Margin | ~-20% | ~-8% | ~-2% | approaching breakeven |
| GAAP Net Income | ~-$0.28B | ~-$0.28B | ~-$0.25B | slow improvement |

*FY2026 (ended Jan 2026): Revenue $1B+ (+22% YoY); ARR $1B+; non-GAAP operating margin 3.5% — first full year of non-GAAP profitability; expanding 600 bps annually. Q2 FY2026: revenue $242M (+22% YoY), non-GAAP operating margin 2%, non-GAAP gross margin 79%. FCF positive on TTM basis for first time. International revenue +34% YoY.*

#### Cash Flow & Balance Sheet (FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$50–80M |
| Free Cash Flow | ~$20–50M (first TTM-positive milestone) |
| Capital Expenditures | ~$25M |
| Cash & Equivalents | ~$1.5B |
| Total Debt | ~$0 (effectively debt-free) |

*Debt-free with $1.5B+ cash — exceptional financial position for a growth company. FCF turned positive on TTM basis in FY2025/FY2026 — a key milestone. GAAP losses persist from SBC (~35% of revenue), but declining rapidly as SBC grows slower than revenue. Non-GAAP profitability achieved FY2026 with 600bps annual margin expansion trajectory.*

#### Key Ratios (approximate)
- P/E: N/A (GAAP losses) | EV/Sales: ~4x | FCF Yield: ~1%
- Revenue Growth (TTM): ~22% | Non-GAAP Operating Margin: ~3.5%

#### Growth Profile
SentinelOne grew from $422M (FY2023) to $1B+ (FY2026) — 2.4x in 3 years — but growth decelerated from 106% (FY2023) to 22% (FY2026) as the business matures. The CrowdStrike BSOD outage (July 2024) provided a major displacement catalyst. ARR $1B+ achieved; non-GAAP profitability achieved; FCF positive — three milestone simultaneously. Trades at ~4x EV/Sales vs. CrowdStrike's ~22x, representing the most significant valuation discount in cybersecurity.

#### Forward Estimates
- FY2027: Revenue ~$1.2–1.3B (+20–25% YoY); non-GAAP operating margin 8–10%
- ARR: tracking from $1B toward $1.3B as Purple AI upsell and cloud security expansion continue
- International: +34% growth; government authorizations expanding market
- FCF margin: targeting 8–12% as non-GAAP margins expand beyond 10%
- Analyst consensus PT: ~$24.83 (+34–50% from ~$16–18)

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/S/fundamental

## Navigation

- Overview: /stocks/S
- Financials (this page): /stocks/S/financials
- Thesis: /stocks/S/thesis
- Investment Memo: /stocks/S/memo
- Coverage universe: /stocks