SentinelOne Inc (S) 2022 Q2 法說會逐字稿

Good evening. Thank you for attending the SentinelOne Second Quarter 2022 Earnings Conference Call. (Operator Instructions) I would now like to pass the conference over to your host, Doug Clark, Head of Investor relations with SentinelOne. Thank you. You may proceed.

各位晚安。感謝您參加 SentinelOne 2022 年第二季財報電話會議。（接線員指示）現在我想把會議交給本次主持人 SentinelOne 投資人關係主管 Doug Clark。謝謝。您可以開始了。

Good afternoon, everyone, and welcome to SentinelOne's earnings call for the second quarter of fiscal year 2022 ended July 31. With us today are Tomer Weingarten, Co-Founder and CEO; Nicholas Warner, COO; and Dave Bernhardt, CFO. Our press release and the shareholder letter were issued earlier today and are posted on our website. This call is being broadcast live via webcast. And following the call, an audio replay will be available on the Investor Relations section of our website. Tomer, Nick and Dave will begin with prepared remarks, and then we'll open the call for questions.

各位下午好，歡迎參加 SentinelOne 截至 7 月 31 日止 2022 會計年度第二季的財報電話會議。今天與會者包括共同創辦人兼執行長 Tomer Weingarten、營運長 Nicholas Warner，以及財務長 Dave Bernhardt。我們的新聞稿與致股東信已於今日稍早發布，並已張貼於公司網站。本次電話會議將透過網路直播。會後，投資人關係網站亦將提供音訊重播。Tomer、Nick 與 Dave 將先進行準備好的發言，之後我們將開放提問。

Before we begin, I would like to remind you that during today's call, we'll be making forward-looking statements regarding future events and financial performance, including our guidance for the third fiscal quarter and full fiscal year 2022 as well as certain long-term financial targets. We caution you that such statements reflect our best judgment based on factors currently known to us and that actual results and events could differ materially.

在開始之前，我想提醒各位，在今天的電話會議中，我們將就未來事件與財務表現發表前瞻性陳述，包括我們對 2022 會計年度第三季及 2022 全年度的指引，以及若干長期財務目標。我們提醒您，這些陳述反映的是基於目前已知因素所做出的最佳判斷，實際結果與事件可能會有重大差異。

Please refer to the documents we file from time to time with the SEC, in particular, our S-1 and our quarterly report on Form 10-Q. These documents contain and identify important risk factors and other information that may cause our actual results to differ materially from those contained in our forward-looking statements.

請參閱我們不時向美國證券交易委員會（SEC）提交的文件，特別是我們的 S-1 以及 10-Q 季度報告。這些文件包含並指出重要風險因素及其他資訊，可能導致我們的實際結果與前瞻性陳述中所述內容出現重大差異。

Any forward-looking statements made during this call are being made as of today. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

本次電話會議中所作的任何前瞻性陳述均以今日為準。若在今日之後重播或回顧本次電話會議，會議中所呈現的資訊可能不再是最新或準確的資訊。除法律要求外，我們不承擔公開更新這些前瞻性陳述的義務，也不承擔更新實際結果與前瞻性陳述所預期結果出現重大差異之原因的義務，即使未來有新資訊可得亦然。

During this call, unless otherwise stated, we will discuss non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles. A reconciliation of GAAP and non-GAAP results is provided in today's press release and in our shareholder letter. These non-GAAP measures are not intended to be a substitute for our GAAP results. The financial outlook that we provided today excludes stock-based compensation expense, which cannot be determined at this time and are therefore not reconciled in today's press release.

在本次電話會議中，除非另有說明，我們將討論非 GAAP 財務衡量指標。這些非 GAAP 財務衡量指標並非依一般公認會計原則編製。GAAP 與非 GAAP 結果之調節表已載於今日新聞稿及致股東信中。這些非 GAAP 指標並非用以取代我們的 GAAP 結果。我們今日提供的財務展望排除以股票為基礎之薪酬費用，該費用目前無法確定，因此未在今日新聞稿中進行調節。

And with that, let me turn it over to Tomer Weingarten, CEO of SentinelOne.

接下來，我把時間交給 SentinelOne 執行長 Tomer Weingarten。

Welcome, everyone, and thanks for joining our first earnings call as a public company. This is the start of an open and informative dialogue. We value trust and transparency, and I'll have the opportunity to model this as a public company. And since this is our first earnings call, I'd like to give some background on our journey and how we got here. I will then turn it to Nick and Dave to provide some highlights from our most recent quarter and outlook.

歡迎各位，感謝大家參加我們成為上市公司後的首次財報電話會議。這將是一段開放且具資訊性的對話開端。我們重視信任與透明，而我也將有機會以一家上市公司的身分來實踐這一點。由於這是我們的首次財報電話會議，我想先分享一些我們一路走來的背景，以及我們如何走到今天。接著我會把時間交給 Nick 與 Dave，請他們說明我們最近一季的重點與展望。

We launched SentinelOne in 2013 with the idea that cybersecurity incorporated faster speeds, greater scale, higher accuracy and most importantly, do this through more dimension. We created an autonomous cybersecurity platform to deliver our vision. Attacks and threats are only becoming more sophisticated and more common, and legacy solutions and human defenses just can't keep up. Look no further than all the ransomware attacks. Unfortunately, this isn't new, and it isn't going away, and it's impossible to ignore.

我們於 2013 年創立 SentinelOne，當時的想法是：資安需要更快的速度、更大的規模、更高的準確度，而最重要的是，要透過更多維度來實現。我們打造了一個自主式資安平台來落實這個願景。攻擊與威脅正變得愈來愈精密且更為普遍，傳統解決方案與人工防禦已無法跟上。看看各種勒索軟體攻擊就知道了。不幸的是，這並不是新問題，也不會消失，而且不可能忽視。

Our mission to protect our customers and our way of life has never been more important in a digitized world. There are several structural forces at play that will drive long-term and sustained growth for us and our industry. The growing threat landscape is just one of them. Next is the digital enterprise environment, more devices, more places, more data, requires updates to critical enterprise infrastructure, and that includes new attack surfaces such as containers and workloads.

在數位化世界中，我們保護客戶與生活方式的使命從未如此重要。有數個結構性力量正在發揮作用，將推動我們與整個產業的長期且持續成長。日益擴大的威脅版圖只是其中之一。其次是數位企業環境：更多裝置、更多地點、更多資料，要求關鍵企業基礎架構必須更新，其中也包括新的攻擊面，例如容器與工作負載。

At the same time, we've moved to a hybrid work environment. This is the new normal, forcing the evolution of how we work, where we work from and fundamentally how we secure the future of work. The only way to ensure safety and security is with 0 trust across the entire enterprise, from endpoint to cloud. Companies want partners and platforms, not siloed point solutions. Our open XDR approach is helping unify the entire enterprise view from data to device to cloud.

同時，我們已轉向混合式工作環境。這已成為新常態，迫使我們的工作方式、工作地點，以及最根本的「如何確保未來工作的安全」都必須演進。確保安全與防護的唯一方式，是在整個企業範圍內落實零信任（0 trust），從端點到雲端。企業想要的是合作夥伴與平台，而不是彼此孤立的單點解決方案。我們的開放式 XDR 方法正協助整合從資料、裝置到雲端的全企業視角。

Putting all of this together, cybersecurity has never been more critical and more challenging for the enterprise. That gives me tremendous confidence in the long-term growth potential in front of SentinelOne.

綜合以上因素，資安對企業而言從未如此關鍵，也從未如此具挑戰性。這讓我對 SentinelOne 面前的長期成長潛力充滿信心。

Over the last 8 years at SentinelOne, we've developed AI and machine learning models, built patented Storyline technology and created an in-house cloud data platform. We knew from the beginning that the best solution would have to harness the power of data and AI. And as a result, we're delivering real-time industry-leading threat detection and response from endpoint to IoT to cloud. To us, prevention is the fundamental component of modern day cybersecurity. Equally critical is machine speed detection, response and remediation.

在 SentinelOne 的過去 8 年裡，我們開發了 AI 與機器學習模型，打造了具專利的 Storyline 技術，並建立了自研的雲端資料平台。我們從一開始就知道，最佳解決方案必須善用資料與 AI 的力量。因此，我們能從端點到 IoT 再到雲端，提供即時、業界領先的威脅偵測與回應。對我們而言，預防是現代資安的根本要素。同樣關鍵的是以機器速度進行偵測、回應與修復。

We've achieved many important milestones already this year. Certainly, the IPO is part of that. At the same time, top scores from MITRE ATT&CK, the industry standard test for EDR, as well as the highest score in the Gartner Critical Capabilities for each buyer type has helped build credibility and industry recognition. Operationally, we've expanded our Board of Directors and instituted an Advisory Board. And with an eye to the future, we just announced that we'll be opening an R&D facility in the Czech Republic to support our growing scale and global presence.

今年我們已達成許多重要里程碑，當然 IPO 也是其中之一。同時，我們在 MITRE ATT&CK（EDR 的產業標準測試）中獲得高分，以及在 Gartner《Critical Capabilities》針對各類買方類型取得最高分，這些都協助建立了可信度與產業認可。在營運面，我們擴充了董事會並成立顧問委員會。著眼未來，我們也剛宣布將在捷克設立研發據點，以支援我們不斷擴大的規模與全球布局。

Finally, delighting our customers. I'm especially proud that our Net Promoter Score, or NPS, has risen every single quarter in the past year. It jumped in Q2 to above 70. That puts us well above the ranks of many consumer and technology companies and ahead of category-defining technologies loved by users such as the iPhone. Our customers choose us as their cybersecurity partner, and we take the responsibility and trust seriously. We're helping our customers stay ahead of our adversaries, prevent breaches and autonomously respond through innovation.

最後是讓客戶感到滿意。我特別自豪的是，我們的淨推薦值（Net Promoter Score，NPS）在過去一年每一季都持續上升，並在第二季躍升至 70 以上。這使我們遠高於許多消費與科技公司的水準，也領先於深受使用者喜愛、具代表性的技術產品，例如 iPhone。客戶選擇我們作為其資安合作夥伴，我們非常重視這份責任與信任。我們透過創新協助客戶領先對手、防止入侵，並以自主方式進行回應。

Turning to the business. In Q2, our ARR growth accelerated to 127% year-over-year, and our revenue was up 121%. I want to pause on that for a second. Our business is expanding well into the triple digits both for ARR and revenue, and our guidance for Q3 shows that we expect that to continue. Our growth is very well balanced across new and existing customers as well as large and midsized enterprises. Enterprises represents about 2/3 of our business today, and we're gaining even more traction.

回到業務表現。第二季我們的 ARR 年增率加速至 127%，營收年增 121%。我想在這裡稍作停頓。無論是 ARR 或營收，我們的業務都以三位數的速度擴張，而我們對第三季的指引顯示，我們預期這樣的趨勢將持續。我們的成長在新客戶與既有客戶，以及大型與中型企業之間都相當均衡。企業客戶目前約占我們業務的 2/3，而且我們正獲得更多動能。

In Q2, we added the highest number of customers with ARR over $1 million compared to prior quarters. We're also expanding with existing customers through securing more devices and services, along with bringing new security control and visibility modules. Our net retention rate was the highest it's ever been at 129%. Our channel partners are bringing us into an increasing number of opportunities, giving our sales teams access, scale and reach around the globe. Nick will talk a lot more about our differentiated go-to-market and how that's fueling growth.

第二季，我們新增 ARR 超過 100 萬美元的客戶數量，較以往各季都更高。我們也透過保護更多裝置與服務、並導入新的安全控管與可視性模組，持續擴大既有客戶的採用。我們的淨留存率創下歷史新高，達到 129%。我們的通路合作夥伴正把我們帶進愈來愈多的商機，讓銷售團隊在全球取得更好的切入點、規模與觸及範圍。Nick 將更深入說明我們差異化的 go-to-market 策略，以及它如何推動成長。

I'm proud of the technology and the innovation we're bringing to customers through our Singularity XDR platform. We sell 3 platform tiers, Core, Control and our most comprehensive and popular tier, Complete. These tiers enable us to bring our technology to a diverse set of buyer types and organizations, from medium-sized businesses all the way to the world's largest Fortune 500 enterprises.

我為我們透過 Singularity XDR 平台帶給客戶的技術與創新感到自豪。我們提供 3 個平台層級：Core、Control，以及最完整且最受歡迎的 Complete。這些層級讓我們能將技術提供給多元的買方類型與組織，從中型企業一路到全球最大的《財富》500 強企業。

We also offer more than 10 modules that extend our platform value to more enterprise needs, from IoT discovery and security to cloud and container workload protection. Our modules help customers with today's critical management, protection and visibility challenges. In Q2, we enhanced our capabilities around automation, 0 trust and data.

我們也提供超過 10 個模組，將平台價值延伸至更多企業需求，涵蓋從 IoT 探索與安全，到雲端與容器工作負載防護。我們的模組協助客戶因應當前在管理、防護與可視性方面的關鍵挑戰。第二季，我們強化了在自動化、零信任（0 trust）與資料方面的能力。

First, automation. Automation is key to neutralizing threats effectively and in real time. Security teams simply can't analyze and respond to billions of events every day. The response piece is especially important. A human-powered 1-10-60 benchmark is a legacy model. Our customers want real-time response and protection. This is why our patented Storyline technology is so important. It monitors and contextualizes all events across an enterprise at machine speed. That means fewer and more accurate alerts based on data. It also means autonomous remediation, taking machine-delivered responses to a whole new level of automatic efficiency.

首先是自動化。自動化是有效且即時中和威脅的關鍵。資安團隊根本無法每天分析並回應數十億個事件，其中「回應」尤其重要。以人力驅動的 1-10-60 基準是一種傳統模式。我們的客戶希望即時回應與防護。這也是為什麼我們具專利的 Storyline 技術如此重要。它以機器速度監控並脈絡化企業內所有事件，意味著基於資料的警示更少且更精準；也意味著自主修復，將機器交付的回應提升到全新的自動化效率層級。

The Chief Information Security Officer of a Fortune 500 oil company captured it well saying, "SentinelOne's Storyline technology fundamentally changes EDR. Instead of people having to manually assemble data points, the technology assembles stories for us and even makes decisions in real time. Game changer."

一家《財富》500 強石油公司的首席資訊安全長（CISO）精準地總結道：「SentinelOne 的 Storyline 技術從根本上改變了 EDR。過去需要人們手動拼湊各個資料點，如今技術會替我們把故事串起來，甚至能即時做出決策。這是顛覆性的改變。」

We listen to our customers, adding even more automation capabilities. In Q2, we added Storyline Active Response, or STAR. With STAR, security teams can now create custom detection and response rules and deploy them in real time. In other words, write the rules once and let it trigger automatic alerts and instant responses enterprise-wide. That's more control and more automation and more prevention.

我們傾聽客戶的聲音，並加入更多自動化能力。在第二季，我們新增了 Storyline Active Response（STAR）。透過 STAR，資安團隊現在可以建立自訂的偵測與回應規則，並即時部署。換句話說，規則寫一次，就能在全企業範圍內觸發自動警示與即時回應。這代表更高的掌控力、更強的自動化，以及更好的預防能力。

The second area of focus is around 0 trust. Every edge of the network must be secured. We did this in 2 ways in Q2, tackling rogue IoT devices and expanding 0 trust partnerships. An enterprise can protect what it can see, including IoT and unmanaged devices. One compromised printer can quickly become an adversary's home base for an attack. The solution for the IoT and unmanaged device challenges our Ranger module. Ranger identifies and corrects all rogue IoT devices, and we've just released auto deploy.

第二個重點領域是零信任（0 trust）。網路的每一個邊界都必須被保護。我們在第二季透過兩種方式做到這點：處理流氓 IoT 裝置並擴大零信任合作夥伴關係。企業只能保護它看得見的資產，包括 IoT 與未受管理的裝置。一台被入侵的印表機，可能很快就成為攻擊者發動攻擊的據點。針對 IoT 與未受管理裝置挑戰的解決方案是我們的 Ranger 模組。Ranger 能識別並修正所有流氓 IoT 裝置，而我們也剛發布自動部署（auto deploy）。

Our new auto deploy capability tackles one of the oldest problems in enterprise IT, quickly deploying protection to unmanaged and sometimes unreachable assets with ease. Ranger auto deploy takes a SentinelOne endpoint and enables it to transmit protection to any and all unmanaged devices surrounding it. This is a first, and we're already seeing demand for auto deploy, which helped secure $1 million customer win in Q2, where we replaced legacy AV in one of our other major next-gen competitors.

我們新的自動部署能力解決了企業 IT 最 오래 的問題之一：能輕鬆且快速地將防護部署到未受管理、甚至有時無法觸及的資產。Ranger 自動部署會以一個 SentinelOne 端點為起點，使其能將防護傳遞到周遭任何及所有未受管理的裝置。這是首創，我們也已看到對自動部署的需求；它在第二季協助我們拿下一筆 100 萬美元的客戶勝利，我們在該案中於另一家主要次世代競爭對手的地盤上，取代了傳統防毒（legacy AV）。

We also expanded our marketplace ecosystem through new partnerships with Zscaler and Cloudflare. Partnering with other 0 trust leaders strengthens our customers' security postures.

我們也透過與 Zscaler 與 Cloudflare 的新合作夥伴關係，擴大了我們的市集（marketplace）生態系。與其他零信任領導者合作，能強化客戶的安全態勢。

Finally, we're focused on data. Cybersecurity is fundamentally a data problem. We use AI to parse petabytes of data, identify anomalies and autonomously mitigate attacks in real time. Earlier this year, we acquired Scalyr, enhancing our ability to ingest index-free data at scale from structured and unstructured sources. Our goal is to optimize for scale, performance and cost. We're excited about the future go-to-market synergies. We've also begun transitioning our data back into Scalyr for new proof-of-concept deployments, onboarding new customers at scale.

最後，我們聚焦在資料。資安本質上是一個資料問題。我們使用 AI 解析 PB 級資料、識別異常，並即時自主緩解攻擊。今年稍早，我們收購了 Scalyr，強化了我們從結構化與非結構化來源，以規模化方式攝取免索引（index-free）資料的能力。我們的目標是在規模、效能與成本之間達到最佳化。我們對未來的上市（go-to-market）協同效應感到振奮。我們也已開始將資料遷回 Scalyr，用於新的概念驗證（POC）部署，並以規模化方式導入新客戶。

Before I turn it to Nick and Dave, I want to say I'm excited about what we've achieved as a company. I'm proud of the scale of our business and the triple-digit growth rates we've now delivered for 2 consecutive quarters. This is truly a testament to the hard work of the entire team at SentinelOne. Thank you to all of our employees and also our customers and partners. Your feedback and trust puts us in the winning side of cyber warfare every day.

在我把時間交給 Nick 和 Dave 之前，我想說我對我們作為一家公司所達成的成果感到振奮。我為我們業務的規模感到自豪，也為我們連續兩個季度交出三位數成長率而自豪。這確實是 SentinelOne 全體團隊辛勤努力的證明。感謝所有員工，也感謝我們的客戶與合作夥伴。你們的回饋與信任，讓我們每天都站在網路戰的勝利一方。

I'm even more excited about what we can do from here. The endpoint security market is large and growing, and we're just at the beginning. Cyber defense should be even more holistic. It has to be flexible and automated. And that means not just across endpoint operating systems but also IoT devices, servers, cloud workloads and the data itself. This is XDR. We are XDR.

我對接下來能做的事更感到興奮。端點安全市場龐大且持續成長，而我們才剛起步。網路防禦應該更全面，必須具備彈性並高度自動化。而這不僅要涵蓋端點作業系統，也要涵蓋 IoT 裝置、伺服器、雲端工作負載，以及資料本身。這就是 XDR。我們就是 XDR。

And with that, let me turn it to Nick Warner, our Chief Operating Officer.

接下來，讓我把時間交給我們的營運長 Nick Warner。

Thank you, Tomer, and I'd also like to welcome everyone. I've been at SentinelOne for over 4 years now. Everyone here has a lot to be proud of, especially how quickly we scaled in just the past year alone. We've built a go-to-market flywheel of sales and marketing, our channel and technology partners. Together, our brand and market traction is reaching new highs.

謝謝你，Tomer，我也想歡迎各位。我在 SentinelOne 已經超過 4 年。各位都很值得自豪，尤其是我們在過去一年就迅速擴張的速度。我們建立了由銷售與行銷、通路以及技術合作夥伴所構成的上市推進飛輪（go-to-market flywheel）。在大家共同努力下，我們的品牌與市場動能正達到新高。

Let's discuss the business. ARR of nearly $200 million and growing 127% is nothing short of astounding. Looking back, it took over 3 years to reach $100 million in ARR and just 3 quarters to nearly reach the next $100 million. Our future is unbounded. That's because of vision, execution and listening to the needs of our customers. Over 5,400 customers use our Singularity XDR platform. That's over 2,000 more than last year.

我們來談談業務。接近 2 億美元的 ARR 且成長 127%，令人驚嘆。回顧過去，我們花了超過 3 年才達到 1 億美元 ARR，而只用了 3 個季度就幾乎再達到下一個 1 億美元。我們的未來沒有上限。這源於願景、執行力，以及傾聽客戶需求。超過 5,400 家客戶使用我們的 Singularity XDR 平台，比去年多了 2,000 多家。

I'm delighted to help protect that many businesses. Our customers are diverse in size, scope and geography. Our focus on automation, speed and accuracy is critical to any enterprise -- in fact, all enterprises. We're protecting even more mission-critical businesses. In Q2, we added one of the largest telecommunications and mass media companies in North America. And we also added one of the world's largest global financial institutions as well. Make no mistake, this is a competitive market. We go up against incumbent and next-gen players all the time.

我很高興能協助保護這麼多企業。我們的客戶在規模、範疇與地理分布上都很多元。我們對自動化、速度與準確性的聚焦，對任何企業——事實上對所有企業——都至關重要。我們正在保護更多關鍵任務型（mission-critical）企業。第二季，我們新增了北美最大之一的電信與大眾媒體公司；同時也新增了全球最大的跨國金融機構之一。請不要誤會，這是一個競爭激烈的市場，我們一直都在與既有大廠與次世代業者正面交鋒。

When I think about how we're doing in the market, 3 things capture it most effectively: one, our 97% gross retention rate, which means our customers are happy and staying with us; two, we don't compete with our channel partners. So they are able to lead with our technology platform. We enable and embrace the channel; and three, we win more than 70% of POCs against the competition. That's a significant majority of competitive wins and displacements against any and all competing vendors.

當我思考我們在市場上的表現時，有三件事最能說明：第一，我們 97% 的毛留存率（gross retention rate），代表客戶滿意並持續留在我們這裡；第二，我們不與通路夥伴競爭，因此他們能以我們的技術平台作為主打。我們賦能並擁抱通路；第三，我們在與競爭對手的 POC 中勝率超過 70%。這代表在與任何競爭供應商的競爭性勝出與替換（displacement）中，我們取得了顯著多數的勝利。

Let me share some more details from the quarter. We're making tremendous progress with large enterprises, which represent about 2/3 of our business. We grew customers with ARR over $100,000 by 140% versus last year. We added the highest number of million-dollar ARR customers this past quarter. In the past year, we've more than tripled the number of customers with ARR over $1 million. It's clear from both of those points that we're succeeding with larger customers and landing in larger deals.

我再分享一些本季細節。我們在大型企業客戶方面取得了巨大進展，大型企業約占我們業務的 2/3。與去年相比，ARR 超過 10 萬美元的客戶成長了 140%。我們在本季新增了歷來最多的百萬美元 ARR 客戶。過去一年，我們的 ARR 超過 100 萬美元的客戶數量已增加到原本的三倍以上。從這兩點可以清楚看出，我們在更大型客戶上取得成功，並在更大規模的交易中落地。

Our net retention rate was 129%, a new record for our company, fantastic execution from our sales and go-to-market teams. We're helping customers expand agent deployments, access more functionality with package tiers and adopt new module solutions.

我們的淨留存率（net retention rate）為 129%，創下公司新高，這是我們銷售與上市團隊出色執行的成果。我們協助客戶擴大代理程式（agent）部署、透過套裝等級（package tiers）取得更多功能，並採用新的模組解決方案。

When it comes to our modules, our innovations help enterprises do more. Just looking at our modules that cover IoT, cloud and data, these grew more than 6x year-over-year in Q2 and represent over 10% of the quarter's new business. We're still early with our modules and see this as a long-term lever for our business.

談到我們的模組，我們的創新讓企業能做得更多。僅看涵蓋 IoT、雲端與資料的模組，第二季年增超過 6 倍，並占本季新業務的 10% 以上。我們在模組方面仍處於早期階段，並將其視為推動業務的長期槓桿。

Next, I'll share some insights on our go-to-market. Our internal sales and support teams, combined with our diverse and growing partner ecosystem, gives us an incredibly vast reach. Earlier this year, we rolled out a new channel partner training and accreditation program. Feedback has been positive, and we've issued over 2,000 accreditations to date. Our strong channel metrics are leading pipeline and traction indicators.

接下來，我將分享一些我們上市策略（go-to-market）的洞見。我們的內部銷售與支援團隊，加上多元且持續成長的合作夥伴生態系，讓我們擁有極其廣泛的觸及範圍。今年稍早，我們推出了新的通路夥伴訓練與認證（accreditation）計畫。回饋相當正面，迄今已發出超過 2,000 份認證。我們強勁的通路指標，是管線與市場動能的重要領先指標。

We partner with managed security service providers, MSSPs; managed detection and response providers, MDRs; and incident response, IR, partners. We equip them with industry-leading capabilities. And in return, we get tremendous market access and scale. We don't compete with them. We support and enable their business. We're rapidly expanding this ecosystem, and it's driving meaningful growth for us.

我們與受管理資安服務供應商（MSSPs）、受管理偵測與回應供應商（MDRs），以及事件回應（IR）合作夥伴合作。我們為他們提供業界領先的能力；作為回報，我們獲得龐大的市場觸及與規模。我們不與他們競爭，而是支持並賦能他們的業務。我們正在快速擴大這個生態系，並為我們帶來具意義的成長。

I want to double-click on our incident response partnerships. Driven by the rising wave of ransomware attacks, breaches have become pervasive for businesses around the world. In the unfortunate but often common case of a company being breached, IR partners are called in to identify and remediate the attack. They use our technology to understand what's going on, stop the attack and remediate the network. Our ecosystem of IR partners are armed with the best technology available when it comes to rapidly recovering from a breach.

我想更深入談談我們的事件回應合作夥伴關係。在勒索軟體攻擊浪潮持續上升的推動下，資安入侵已在全球企業間變得普遍。在不幸但常見的企業遭入侵情況下，IR 夥伴會被召集來識別並修復攻擊。他們使用我們的技術來了解正在發生什麼、阻止攻擊並修復網路。就快速從入侵事件中復原而言，我們的 IR 夥伴生態系配備了目前可用的最佳技術。

After seeing the immediate value of our technology, we see extremely high adoption rates post breach as post-breach enterprises standardize on SentinelOne as a modern approach to cybersecurity. In Q2, we added over a dozen additional IR partners and are bringing more online in Q3 and beyond. It's not just quantity but quality.

在看到我們技術的即時價值後，我們觀察到在入侵事件之後的採用率極高，因為這些企業在事後會將 SentinelOne 標準化為現代化的資安方法。第二季，我們新增了十多家 IR 夥伴，並將在第三季及之後讓更多夥伴上線。不僅是數量，更是品質。

In Q2, we added world-renowned IR partners like Kroll, Alvarez & Marsal and Group IB. These and others are global leaders with extensive enterprise relationships. These are the go-to experts who cyber insurers and Boards call when there is a breach. In fact, our IR partner ecosystem is our fastest-growing channel. For all of us at SentinelOne, our values and goals align on protecting customers and putting them first. From sales to support, marketing to channels, business development to customer success, Vigilance MDR to SentinelLabs, our go-to-market organization is world class. And I'm proud to work with this global team of relentless Sentinels each and every day.

第二季，我們新增了 Kroll、Alvarez & Marsal 以及 Group IB 等世界知名的 IR 夥伴。這些以及其他夥伴都是擁有廣泛企業關係的全球領導者。當發生入侵時，網路保險公司與董事會會找的就是這些首選專家。事實上，我們的 IR 夥伴生態系是成長最快的通路。對 SentinelOne 的所有同仁而言，我們的價值觀與目標一致：保護客戶並以客戶為先。從銷售到支援、行銷到通路、商務開發到客戶成功、Vigilance MDR 到 SentinelLabs，我們的上市組織是世界級的。我也以每天能與這支全球、永不懈怠的 Sentinel 團隊共事為榮。

Thank you. And let me turn it over to Dave Bernhardt, our CFO.

謝謝。接下來我把時間交給我們的財務長 Dave Bernhardt。

Nick, Tomer, thank you. And thank you all for joining us today and hopefully in the future. I'll touch on a few of the highlights before we open for Q&A. There's a lot more detail in our shareholder letter, which I welcome you to view on the Investor Relations section of our website. We are very excited about our performance in the second quarter.

Nick、Tomer，謝謝。也感謝各位今天參與，並希望未來也能繼續與我們同行。在進入問答之前，我先談幾個重點亮點。更多細節都在我們的股東信中，歡迎各位到我們網站的投資人關係（Investor Relations）專區查看。我們對第二季的表現感到非常振奮。

Looking at our Q2 results. We achieved record revenue of $46 million, increasing 121%. Fueled by new customers and existing customer expansion, we delivered ARR of $198 million in the quarter, accelerating 127% year-over-year. Even after backing out the $10 million in acquired ARR from Scalyr, our organic growth was still well into the triple digits. Obviously, we're very enthusiastic about our top line drivers.

來看我們第二季（Q2）的成果。我們達成創紀錄的 4,600 萬美元營收，成長 121%。在新客戶與既有客戶擴張的帶動下，本季我們的 ARR 達到 1.98 億美元，年增 127% 並持續加速。即使扣除來自 Scalyr 併購的 1,000 萬美元 ARR，我們的有機成長仍然遠遠維持在三位數。顯然，我們對推動營收成長的動能感到非常興奮。

Now I'll discuss our costs and margins and then provide our guidance outlook. Our non-GAAP gross margin in Q2 was 62% and expanded 900 basis points, a healthy pickup from last quarter. The biggest benefits are coming from our increasing scale and business expansion. Additionally, we're also starting to see benefits from our renegotiated cloud hosting agreement, which we signed earlier this year to align with our expected growth.

接下來我會說明成本與毛利，並提供我們的展望指引。第二季非 GAAP 毛利率為 62%，擴張 900 個基點，較上一季有明顯且健康的提升。最大的效益來自我們規模擴大與業務擴張。此外，我們也開始看到重新談判後的雲端託管合約帶來的好處；該合約於今年稍早簽署，以配合我們預期的成長。

Looking at the rest of our P&L. We're investing for growth, and it's clear that it's working, once again reflected in our triple-digit top line growth rate. During the quarter, we made strategic investments in preparation for becoming a public company, enhancing our product and scaling our go-to-market.

再看損益表（P&L）的其他部分。我們正在為成長而投資，而且很明顯這些投資正在奏效，再次反映在我們三位數的營收成長率上。本季我們也進行策略性投資，為成為上市公司做準備，強化產品並擴大我們的市場推進（go-to-market）能力。

Our non-GAAP operating margin was negative 98%, an improvement over negative 101% in the year-ago quarter, even as we prepared for our IPO. In the shareholder letter, we've reiterated our long-term margin targets. These are the same targets that we shared during the IPO. The key point is that as we progress to our long-term targets, we intend to invest in growth while also improving our margins and profitability.

我們第二季非 GAAP 營業利益率為負 98%，較去年同期的負 101% 改善，即便我們同時在為 IPO 做準備。在股東信中，我們重申了長期的利潤率目標；這些目標與我們在 IPO 期間分享的一致。重點是，隨著我們朝長期目標邁進，我們打算在投資成長的同時，也持續改善利潤率與獲利能力。

A recent example is the diversification of our R&D footprint outside of Israel and Silicon Valley. We just announced that we'll be expanding our engineering excellence into the Czech Republic. With all of this opportunity in front of us, fiscal 2022 remains an investment year.

近期的一個例子是，我們將研發（R&D）據點多元化，擴展到以色列與矽谷以外。我們剛宣布將把工程卓越能力擴展到捷克共和國。在這麼多機會面前，2022 會計年度仍將是投資的一年。

Now for our outlook for Q3 and the full fiscal year. In Q3, we expect revenue of $49 million to $50 million, reflecting growth of 102% at the midpoint. For the full year, we expect revenue of $188 million to $190 million or 103% growth at the midpoint. We expect the strong momentum we saw in Q2 to continue next quarter and our structural tailwinds to persist. Combined with ongoing benefits from our product innovation, improved brand awareness and continuing to scale our go-to-market, this collectively supports our triple-digit growth outlook.

接著談第三季（Q3）與全年展望。第三季我們預期營收為 4,900 萬至 5,000 萬美元，以中位數計算成長 102%。全年我們預期營收為 1.88 億至 1.90 億美元，以中位數計算成長 103%。我們預期第二季看到的強勁動能將延續到下季，結構性順風也將持續。再加上產品創新帶來的持續效益、品牌知名度提升，以及持續擴大市場推進能力，這些因素共同支撐我們對三位數成長的展望。

We expect Q3 non-GAAP gross margin to be between 58% to 59% and full year gross margin of 58% to 60%. Most importantly, this remains well above 53% we reported in the first fiscal quarter this year and at or above 58% we delivered in fiscal 2021. We are benefiting from increased scale, cloud hosting agreements and processing efficiency gains.

我們預期第三季非 GAAP 毛利率介於 58% 至 59%，全年毛利率為 58% 至 60%。最重要的是，這仍明顯高於本會計年度第一季我們報告的 53%，也達到或高於我們在 2021 會計年度交出的 58%。我們正受惠於規模擴大、雲端託管合約，以及處理效率提升。

Reflected in our guidance is our plan to migrate existing customers to our Scalyr back end in Q3 and Q4. The migration will result in some duplicative storage and processing cost as we ensure data and performance continuity. This is intended to further improve data processing for the future and unlock long-term platform and go-to-market synergies. Excluding the redundant costs for the Scalyr migration, we estimate fiscal 2022 gross margin would be roughly similar to our gross margin we achieved this quarter.

我們的指引也反映了在第三季與第四季將既有客戶遷移至 Scalyr 後端的計畫。為確保資料與效能的連續性，遷移期間會產生部分重複的儲存與處理成本。此舉旨在進一步提升未來的資料處理能力，並釋放長期的平台與市場推進協同效益。若排除 Scalyr 遷移所造成的重複成本，我們估計 2022 會計年度的毛利率將大致與本季達成的毛利率相近。

Finally, for operating margins, we expect negative 96% to 99% in Q3. Our full year operating margin guidance is for negative 99% to 104%. This is an improvement upon our fiscal year 2021 operating margin of negative 107%. We see tremendous opportunity for growth, and the investments we're making today will put us in a position to succeed for the long term.

最後談營業利益率。我們預期第三季營業利益率為負 96% 至負 99%。全年營業利益率指引為負 99% 至負 104%。這較 2021 會計年度的負 107% 有所改善。我們看到極大的成長機會，而我們今天所做的投資將使我們具備長期成功的條件。

Finally, we have 2 quick housekeeping items. Both of these are included in the shareholder letter with more detail as well. The first item is share count. We ended Q2 with total basic shares outstanding of 265 million. This is the base run rate going forward. The second item is the lockup. We have 2 triggers. The first is on September 28. If the stock price remains at current levels, it will unlock up to approximately 40 million outstanding shares as of July 31, 2021, excluding vested equity awards. The remainder of the lockup will expire subsequent to our Q3 earnings report.

最後，我們有兩個簡短的例行事項（housekeeping）。這兩項在股東信中也有更詳細說明。第一項是股數。我們在第二季結束時的流通在外基本股數（total basic shares outstanding）為 2.65 億股，這將是未來的基準運行水準。第二項是禁售期（lockup）。我們有兩個觸發條件。第一個是在 9 月 28 日；若股價維持在目前水準，將解禁截至 2021 年 7 月 31 日約 4,000 萬股的流通在外股份，不包含已歸屬的股權獎勵（vested equity awards）。其餘禁售期將在我們第三季財報公布後到期。

In closing, Q2 was an excellent quarter with strong execution, and we're expecting that momentum to continue into the second half of the year. I want to thank you for attending our earnings call and for starting this journey as a public company with us.

總結來說，第二季在強勁執行下表現非常出色，我們預期這股動能將延續到下半年。感謝各位參與我們的法說會（earnings call），也感謝各位與我們一同以上市公司身分展開這段旅程。

Operator, can you please open up the lines for questions? Thank you.

接線員，請開放提問線路，謝謝。

(Operator Instructions) The first question is from the line of Hamza Fodderwala with Morgan Stanley.

（接線員指示）第一個問題來自 Morgan Stanley 的 Hamza Fodderwala。

Congrats on your first quarter post IPO. Just on -- maybe a question for either Nick or Tomer. I wanted to dig into some of the partnership announcements you guys have made in recent months, particularly with Zscaler and Cloudflare. What do you think -- one for Tomer. To what extent does that validate your technology given that you're partnering with other next-gen vendors on the network security side? And then from a go-to-market perspective, for Nick, what type of incremental benefit will these partnerships bring?

恭喜 IPO 後的第一個季度表現。這題可能想請 Nick 或 Tomer 回答。我想深入了解你們近幾個月宣布的一些合作夥伴關係，特別是與 Zscaler 和 Cloudflare 的合作。我想問 Tomer：在網路安全領域與其他新世代供應商合作，在多大程度上驗證了你們的技術？另外從市場推進角度，想請 Nick 說明：這些合作將帶來哪些額外的增量效益？

Yes. Thanks for the question, Hamza. And for us, it's really about really stepping forward towards a more inclusive open XDR approach and also kind of producing a more 0 trust ecosystem around the SentinelOne Singularity platform, really fusing together endpoint, which is kind of the edge of the network, with the cloud and now identity and the user as well. To us, that's really the trinity that forms 0 trust, and that's why we're partnering with these vendors. Obviously, we find them in more and more accounts that we sell into. So that also becomes something that our customers are asking us to do.

是的，謝謝你的問題，Hamza。對我們而言，這主要是朝向更具包容性的開放式 XDR 方法邁進，同時在 SentinelOne Singularity 平台周邊打造更完整的零信任（0 trust）生態系，真正把端點（可視為網路邊緣）與雲端，現在再加上身分與使用者融合在一起。對我們來說，這三者就是構成零信任的「三位一體」，因此我們才會與這些供應商合作。很明顯地，我們在越來越多我們銷售進入的客戶帳戶中看到他們，所以這也成為客戶要求我們去做的事情。

So all in all, I mean, it just really kind of falls in line with both of our 0 trust strategy and our open XDR approach. And the idea is, over time, to continue and ingest more data from all these adjacent solutions in the enterprise into our open XDR platform. So to us, again, it really falls into the strategy that we took by enabling our customers to pick any vendor and really build on top of the Singularity platform.

總體而言，這與我們的零信任策略以及開放式 XDR 方法完全一致。核心想法是，隨著時間推進，持續把企業中這些相鄰解決方案的更多資料匯入我們的開放式 XDR 平台。因此對我們來說，這同樣符合我們的策略：讓客戶可以選擇任何供應商，並真正以 Singularity 平台為基礎進行建構。

This is Nick here. From a go-to-market perspective, what it means for our customers is we really allow them to realize even greater ROI on previous solutions that they purchased. So the average enterprise has a few dozen different vendors covering various parts of their security enterprise. And with our vision of XDR being open, being inclusive, being easy to use, what we're really doing is up-leveling the capabilities of those traditional and already installed products, adding tremendous value with the Singularity platform but leaving that all in together to a complete and holistic view of security, which is really the promise that we're delivering upon with XDR.

我是 Nick。從市場推進角度來看，這對客戶的意義在於，我們讓他們能在先前購買的解決方案上實現更高的投資報酬率（ROI）。一般企業平均會有數十家不同供應商，涵蓋其資安體系的各個部分。透過我們對 XDR 的願景——開放、包容、易用——我們實際上是在提升那些傳統且已部署產品的能力，透過 Singularity 平台增加巨大的價值，同時把這一切整合成完整且全方位的資安視圖，這正是我們透過 XDR 所要兌現的承諾。

The next question is from Brian Essex with Goldman Sachs.

下一個問題來自 Goldman Sachs 的 Brian Essex。

Congratulations on another really nice quarter of acceleration here. Maybe, Tomer, I would love to get your feedback on -- I think in your prepared remarks, you talked about 2/3 of your business is enterprise focused. What was the mix in the quarter? And what do you anticipate going forward for large enterprise mix? I see that landed cost per new logo is certainly much higher than it was last quarter. So just trying to think about the trajectory there and maybe the most fundamental thing that changed in the quarter to drive that improvement.

恭喜本季再次出現非常漂亮的加速成長。Tomer，我想聽聽你的看法——我記得你在事先準備的發言中提到，你們約 2/3 的業務聚焦在企業客戶。本季的組合占比如何？以及你對未來大型企業占比的預期是什麼？我看到每個新客戶（new logo）的落地成本（landed cost）明顯高於上一季，所以想了解這個趨勢，以及本季最根本的變化是什麼，促成了這樣的改善。

Yes. For us, it really is a good mix. I mean we feel like our traction in the enterprise -- and definitely 140% growth year-over-year on $100,000 deals and above is a good reflection of how much bigger we're landing in accounts. 225% on $1 million deals, again, a good reflection of our traction in the enterprise. But at the same time, we feel presence in the mid-market is important, and it's something that actually is a very efficient go-to-market for us.

是的。對我們來說，這確實是一個很好的組合。我們覺得在企業市場的動能——尤其是 10 萬美元以上交易年增 140%——很好地反映了我們在客戶帳戶中落地的規模變得更大。1 百萬美元交易年增 225%，同樣也很好地反映了我們在企業市場的牽引力。但同時，我們也認為在中型市場（mid-market）維持存在感很重要，而且這其實是我們非常有效率的市場推進方式。

So we like that mix. We feel it's a good mix for us. We'll continue and drive it. Definitely on the enterprise side, we're seeing more lands with our Complete tier, actually, with more attached to Ranger, more attached to Vigilance, more attached to Data Retention. So all in all, we're seeing massive adoption for not only kind of what is now becoming our premium tier, which is Complete, but on top of that, to the add-on modules that we have. And we intend to do the same also on the mid-market where we enable our channel ecosystem to carry more than just endpoint protection and sell also cloud security. So all in all, we feel that the mix is a healthy one and one that we would like to carry into the future.

所以我們喜歡這樣的組合。我們覺得這對我們來說是個很好的組合。我們會持續推動並加速它。特別是在企業端，我們實際上看到更多客戶以我們的 Complete 等級落地，而且與 Ranger 的綁定更多、與 Vigilance 的綁定更多、與 Data Retention 的綁定也更多。總體而言，我們看到的不只是目前正逐漸成為我們高階等級（也就是 Complete）的巨大採用度，還包括我們所提供的加購模組。同時，我們也打算在中型市場採取同樣作法，讓我們的通路生態系不只銷售端點防護，也能銷售雲端安全。總之，我們認為這樣的組合是健康的，也希望把它延續到未來。

Got it. Maybe just a quick follow-up for Dave. I mean you mentioned real quick the duplicate costs associated with the Scalyr migration. When might we see that abate and maybe the margins might be able to maybe better accelerate off the conclusion of that?

了解。也許給 Dave 一個簡短追問。你剛剛快速提到與 Scalyr 遷移相關的重複成本。大概什麼時候我們會看到這些成本開始消退，並且在那個結束之後，毛利率可能有機會更快改善？

Sure. It's predominantly in the second half of this year. So you'll see it in Q3. You'll see it in Q4. And then it should dissipate beyond there. We're working on getting our largest customers over first, which is why you see the dip that we're expecting in the second half. But going forward, we think we should have a baseline of around where we're at right now, barring any other efficiencies we see in the product as we continue to advance it.

當然。主要會發生在今年下半年。所以你會在 Q3 看到，也會在 Q4 看到，之後就應該會逐步消散。我們正優先把最大的客戶先轉過去，這也是為什麼你會看到我們預期下半年會有下滑。但往後看，若不考慮我們在產品持續推進過程中可能看到的其他效率提升，我們認為基準水準大概會維持在目前的位置附近。

The next question is from Saket Kalia with Barclays.

下一個問題來自 Barclays 的 Saket Kalia。

I echo my congrats on becoming a public company. Tomer, maybe for you. I was wondering if you could just talk a little bit about kind of the broader distribution channel a bit. I guess the question is, how do you sort of judge the scale of your channel? And where do you see it kind of going in the next year coming off the IPO?

我也同樣恭喜你們成為上市公司。Tomer，可能想請教你。我想知道你是否可以談一下更廣泛的通路分銷情況。我的問題是，你們如何評估你們通路的規模？以及在 IPO 之後的接下來一年，你們認為它會往哪個方向發展？

Yes. It's a great question because we look at our channel in a very inclusive manner. We definitely kind of look at the distribution channel, reselling channels. The ones that are a little bit more classic to security is one that we're incredibly strong in. And at the same time, the ability to also take the same platform, license it to MSP providers gives us a tap into a complete different part of the TAM. And as Nick mentioned in the prepared remarks, our ability to now sign up most of the incident response providers, most of the leading incident response providers in the U.S. is providing for another channel that kind of expands the gamut of what we see in terms of market opportunities.

是的。這是個很好的問題，因為我們以非常包容的方式看待我們的通路。我們確實會看分銷通路、轉售通路。對於安全產業而言較傳統、較典型的那些通路，我們的實力非常強。同時，把同一個平台授權給 MSP 服務商的能力，也讓我們得以切入 TAM 的另一個完全不同部分。正如 Nick 在事先準備的發言中提到的，我們現在能夠簽下大多數事件應變服務商、以及美國多數領先的事件應變服務商，這也形成了另一條通路，進一步擴大我們在市場機會上的視野範圍。

So all in all, we feel pretty good about our market presence in the channel ecosystem. We're growing. We're making more accreditations. We're training the channel better. We're expanding globally. So to us, I mean, we feel like we built a really strong foundation in the channel. But now they're just growing and accelerating and obviously, enabling the channel. Preparing more modules is another tier in our ability to unlock the vast opportunity in the channel ecosystem.

因此整體而言，我們對於在通路生態系中的市場能見度感到相當不錯。我們正在成長、取得更多認證、把通路訓練得更好、並在全球擴張。對我們來說，我們已在通路上建立了非常扎實的基礎；而現在它們正在成長並加速，當然也包括賦能通路。準備更多模組也是我們解鎖通路生態系龐大機會的另一個層級。

What I -- this is Nick here. What I'd also add to that is uniquely with SentinelOne, we've made strategic decision to enable and not compete with the various multidimensional channel partners out there, whether that's MDRs, MSPs or incident response partners, obviously, as well as your traditional resell partners. And what that's really driven, by enabling their business and not competing, is incredible loyalty and brand loyalty with SentinelOne. And that's something we've been working really hard on for the last several years. So we're really starting to see that flywheel kick in, in all the different facets of our go-to-market channel partner ecosystem.

我補充一下——我是 Nick。SentinelOne 很獨特的一點是，我們做了策略性決策：去賦能、而不是與各種多維度的通路夥伴競爭，無論是 MDR、MSP 或事件應變夥伴，當然也包括傳統的轉售夥伴。而這種「賦能他們的業務而不競爭」的做法，真正帶來的是通路對 SentinelOne 的高度忠誠與品牌黏著度。這是我們過去幾年非常努力在做的事情。所以我們真的開始看到這個飛輪效應在我們 go-to-market 的通路夥伴生態系各個面向啟動並加速。

Got it. That's really helpful. David, maybe for my follow-up for you. Tomer just sort of talked about this just briefly on the last question. But I was wondering if you could just double-click a bit on the mix of customers across the different Singularity tiers, specifically Core, Control and Complete. What are you sort of seeing in terms of new customers and existing customers in terms of the tiers that they're sort of opting for?

了解。這很有幫助。David，我想追問你。Tomer 在上一題稍微提到了一點，但我想請你更深入談談不同 Singularity 等級（特別是 Core、Control 和 Complete）之間的客戶組合。就新客戶與既有客戶而言，你們看到他們分別傾向選擇哪些等級？

Sure. So about half of our customers still use Core or Control with the larger enterprise customers, obviously, using the Complete solution. And there's a mix across all of them, but there's certainly an opportunity for us to continue to see the customers in Core, Control to expand up to the more Complete offering as well as add more modules, et cetera, et cetera. I think that goes into why you're seeing 129% NRR. We're seeing customers not just expand their footprint in terms of endpoints but also expand into much more robust offerings.

好的。目前大約一半的客戶仍在使用 Core 或 Control，而較大型的企業客戶顯然會使用 Complete 解決方案。三者之間都有一定的組合，但我們確實有機會持續讓 Core、Control 的客戶升級到更完整的 Complete 方案，並加購更多模組等等。我認為這也解釋了為什麼你會看到 129% 的 NRR。我們看到客戶不只是擴大端點數量的覆蓋範圍，也在擴展到更強健、更完整的產品組合。

The next question is from the line of Rob Owens.

下一個問題來自 Rob Owens。

Great. I think building a little bit on Saket's question, but I wanted to touch on the net dollar retention rates. And is this coming from an expansion in seats? Is this coming from the tiers that you talked about and the upsell within the base? Or is a lot of that growth coming from adjacent modules?

很好。我想在 Saket 的問題基礎上再延伸一下，但我想觸及淨美元留存率。這主要是來自席位數的擴張嗎？是來自你們提到的等級提升、在既有客戶基礎中的加購升級嗎？還是說很大一部分成長來自相鄰的加購模組？

It's actually all of the above. And we definitely focus on basically providing the customer the choice. License counts naturally organically extend over time. We see that time and time again. But at the same time, it's very clear that we have much more in the back today versus maybe a year ago, and customers want to procure more from SentinelOne. They want to cover more surfaces. They want to use more abilities. They're opting up for our services.

其實以上皆是。我們確實專注於基本上提供客戶選擇。授權數量會隨時間自然、有機地增加，我們一次又一次看到這種情況。但同時也很清楚的是，相較於一年前，我們今天的產品「後背包」裡有更多東西，而客戶也想從 SentinelOne 採購更多。他們想覆蓋更多攻擊面、想使用更多能力，也在選擇升級採用我們的服務。

So all in all, we're seeing traction all across these 3 different vectors, which will be, again, seat count expansion, more modules, different tiers. We see that time and time again, and we like that net retention rate. I mean we feel it's going to hover around these rates for kind of the foreseeable future, and we like that contribution.

總體而言，我們在這三個向量上都看到動能，也就是：席位數擴張、更多模組、不同等級。我們一再看到這樣的情況，而且我們喜歡這個淨留存率。我們認為在可預見的未來，它大致會維持在這些水準附近，我們也喜歡它所帶來的貢獻。

And as we look at customer acquisition, typically, who are you going up against? So are you still seeing a lot of replacement of legacy out there, which would imply that there's still a long way to go in this market? Or is the battle coming down to more of the next-gen providers?

那在客戶獲取方面，你們通常是在跟誰競爭？你們是否仍看到大量替換既有的傳統方案，這意味著這個市場還有很長的路要走？還是競爭主要變成在新世代供應商之間的對決？

Yes. No, I think it's 99% displacing an incumbent. It's always going to be competitive with at least one other next-gen competitor. But outside of that, I mean, we are doing displacements here and there. Very anecdotal. But we have those. But the vast majority of what we see, it's absolutely taking market share from the incumbent. It's always a displacement. We've had multiple years long customers of Symantec and McAfee switching over to SentinelOne this quarter as it has been with the past quarters as well. So we think the market momentum in customers understanding that they need to change the mindset and really move over to a next-gen offering is now really mainstream, and I think that comprises the vast majority of our pipeline.

是的。不，我認為有 99% 都是在取代既有廠商。競爭中通常一定會有至少一家其他的新世代競爭對手。但除此之外，我們也會在某些案子中彼此替換，這些比較偏零星個案；我們確實有看到。但我們看到的絕大多數情況，都是從既有廠商手上拿市占，基本上都是替換。我們在本季也有多家使用 Symantec 和 McAfee 多年的客戶轉換到 SentinelOne，過去幾季也是如此。所以我們認為，市場動能正在推動客戶理解他們需要改變思維、真正轉向新世代方案，這現在已經非常主流，而我認為這構成了我們管線的絕大部分。

The next question is from Brent Thill with Jefferies.

下一個問題來自 Jefferies 的 Brent Thill。

Tomer, you mentioned IoT, cloud and data center seem really good uptake. I'm curious if you could just talk through how you look at the next couple of years in this segment and what you're seeing. I know you mentioned one of the IoT wins drove $1 million-plus win. Can you just maybe help shape what's happening when these transactions are getting involved and what you're seeing with overall expansion of deals?

Tomer，你提到 IoT、雲端和資料中心的採用看起來非常不錯。我想請你談談你如何看待未來幾年這個區塊，以及你們觀察到的情況。我知道你提到其中一個 IoT 的勝案帶來了超過 100 萬美元的訂單。你能否幫我們勾勒一下，當這些交易開始進行時，實際上發生了什麼，以及你們在整體交易擴張上看到什麼？

Absolutely. Ranger for us has become truly a competitive advantage. Our ability to not only discover all devices on the network but now also to automatically deploy and help customers reach all these devices in a complete automatic manner is something that is incredibly unique in the space, and it's driving more adoption and driving more seat count. And all in all, it drives this ability for customers to shift away from their incumbent vendor with ease. So it's not only about protecting those attack surfaces. It's also about ease of deployment and simplicity of use.

當然可以。對我們而言，Ranger 已經真正成為一項競爭優勢。我們不僅能發現網路上的所有裝置，現在還能自動部署，並以完全自動化的方式協助客戶觸達所有這些裝置；這在這個領域非常獨特，也正在帶動更高的採用度並推動席位數成長。總體而言，它也讓客戶能更輕鬆地從既有廠商轉移過來。因此這不只是保護那些攻擊面，也關乎部署的便利性與使用的簡易性。

So we're seeing massive traction with that. We're seeing the ability for almost every customer that we have today to go in and provide by that functionality. It's 0 additional deployment. It's completely cloud delivered. So it's incredibly easy to consume. Again, Ranger is one of our fastest-growing modules.

因此我們看到那方面出現了巨大的採用動能。我們看到幾乎我們今天的每一位客戶都能進來並透過該功能提供（服務）。它不需要任何額外部署，完全以雲端交付，因此非常容易使用。再次強調，Ranger 是我們成長最快的模組之一。

And same goes for Data Retention. We're now seeing -- think about the White House Executive Order that mandates low collection, data retention. The ability to keep security data endpoint telemetry for longer is actually fueling customers to procure more and more data retention and archiving directly from our platform. It's something that's highly unique to us, definitely part of the reason why we've expanded our offering and now with Scalyr as a data analytics back end. So the ability to really address all of these new opportunities in cybersecurity that might have not been there a couple of years ago are now not only an opportunity but also a competitive differentiator that we have.

資料保留也是同樣的情況。我們現在看到——想想白宮的行政命令，要求低度蒐集、資料保留。能夠更長時間保留安全資料與端點遙測，實際上正推動客戶從我們的平台直接採購越來越多的資料保留與歸檔。這是我們非常獨特的一點，也絕對是我們擴大產品供應的原因之一，並且現在以 Scalyr 作為資料分析後端。因此，真正把握這些在幾年前可能還不存在的資安新機會的能力，如今不僅是一個機會，也成為我們的競爭差異化優勢。

The next question is from Tal Liani with Bank of America.

下一個問題來自美國銀行（Bank of America）的 Tal Liani。

Congrats on a great quarter. I have a few questions. I want to speak about competition. Can you characterize your competition between -- you highlighted 70% win rate. Can you characterize the competition? How is it going versus legacy players? And what drives corporates that were on legacy system for a long time, what drives them now to migrate? And then also the competition versus the new players like CrowdStrike and others. And if you can talk about your -- you spoke about product differentiation, but I want to talk about the value of automation, how is that coming to play and also pricing differences. We're hearing that you're quite cheaper than the competition, next-gen competition.

恭喜本季表現出色。我有幾個問題。我想談談競爭。你們提到 70% 的勝率。你能描述一下競爭態勢嗎？相較於傳統（legacy）廠商的進展如何？另外，對於長期使用傳統系統的企業，是什麼驅動他們現在開始遷移？再者，與 CrowdStrike 等新興廠商的競爭情況如何？以及你提到產品差異化，但我想談談自動化的價值，它如何發揮作用，以及定價差異。我們聽說你們比競爭對手、也就是次世代競爭對手便宜不少。

Yes. I believe for us, it's really about the holistic approach we're taking that allows us to win both against incumbents and against next-gen peers. The ability to give a full spectrum solution, a full-spectrum platform that ranges from best-of-breed prevention all the way to detection and response and remediation, all of that in a complete, uniform, autonomous manner. It's a big difference from what the others are doing in this space.

是的。我認為對我們而言，關鍵在於我們採取的整體性方法，讓我們能同時戰勝既有大廠與次世代同業。提供全方位解決方案、全光譜平台的能力，從最佳防護（best-of-breed prevention）一路延伸到偵測、回應與修復，並且以完整、統一、自主的方式完成。這與其他同業在這個領域的作法有很大的不同。

We feel like for a lot of these customers, I mean, they're growing more and more frustrated by this need to constantly put down fires. And for us, I mean, if you take a more prevention-first approach, you can actually stop these fires from actually ever happening, and that just drive efficiencies. And I think if you're looking at all these incumbent vendors and incumbent footprint, obviously, there's a massive amount of breaches there. Even for the next-gen peers, I mean, we're seeing a lot of their customers.

我們覺得對許多客戶來說，他們對於必須不斷救火的需求愈來愈感到挫折。對我們而言，如果採取更偏向「預防優先」的方法，其實可以在火災發生之前就把它阻止，進而帶來效率提升。我認為如果你看這些既有供應商與其既有部署版圖，顯然那裡有大量的資安入侵事件。即便是次世代同業，我們也看到不少他們的客戶。

And we've had a multimillion-dollar displacement this quarter for a customer that grew increasingly frustrated with the multiple infections, with inefficiency on protecting server environments, and they wanted a more automatic solution. They wanted a solution that can actually remediate and clean up all the infections that we're seeing, but at the same time, turn into more of a preventive approach where I'm not saying that you can prevent everything, but you can absolutely do a better job on prevention and really stop that firefighting mode or improve it significantly.

而且我們本季有一筆數百萬美元的替換案（displacement），客戶對於多次感染、在保護伺服器環境上的低效率愈來愈不滿，他們想要更自動化的解決方案。他們想要一個能真正修復並清除我們所看到的所有感染的方案，同時也能轉向更偏預防的方法——我不是說你能預防所有事情，但你絕對可以在預防上做得更好，真正停止那種救火模式，或至少大幅改善。

And that is what our platform is incredibly unique in. That's the advantage of AI and machine learning. And I think that's the reason why we're winning both against incumbents that don't only provide the protection piece but also think about hardening, think about anti-tampering. These are all things that our platform can cover today. It's incredibly holistic again in nature. And once again, when you look at the peers, they're focused on detection and response. That's what they do. They bundle service with it. For us, it's about technology. It's about creating a more secure endpoint in the most holistic way possible.

而這正是我們平台非常獨特之處。這就是 AI 與機器學習的優勢。我想這也是我們能同時戰勝既有大廠的原因——他們不僅只提供防護那一塊，也要想想系統強化（hardening）、防竄改（anti-tampering）。這些都是我們平台今天就能涵蓋的能力。它本質上再次強調是非常整體性的。再者，當你看同業，他們專注在偵測與回應，這就是他們做的事，並把服務一起打包。對我們而言，重點在技術，在於以最整體的方式打造更安全的端點。

Got it. And about pricing, is it -- is being cheaper than next-gen competition the strategic goal for you? I mean how do you characterize your pricing versus competition?

了解。那關於定價，你們比次世代競爭對手更便宜——這是你們的策略目標嗎？你們如何描述相較於競爭對手的定價？

Yes. I don't think we're cheaper than the competition. I think if you look at it apples-to-apples, you'll see that the prices are pretty much similar. I think we take a different approach. I think we take a much more transparent approach, and we don't force customers to opt into tiers. We don't force them to use our service. So all in all, I mean, they can actually choose what they want to procure from us. But again, apples-to-apples, I think you'll see that prices are very, very similar. I don't think we're cheaper by any degree.

是的。我不認為我們比競爭對手更便宜。我認為如果你用同等條件（apples-to-apples）來比較，你會看到價格其實差不多。我們採取不同的方法：更透明的方式，我們不強迫客戶選擇分級（tiers），也不強迫他們使用我們的服務。整體而言，他們可以選擇想向我們採購哪些項目。但再次強調，用同等條件比較，我想你會看到價格非常、非常接近。我不認為我們在任何程度上更便宜。

One thing I would add to that -- this is Nick here. From a budget perspective, what we don't try to do is hijack a customer's security budget into forcing them to buy reams of services hours to support a nonautomated product. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. What that enables customers to do is achieve the outcome we're driving for them and our prospects and customers, which is protection and prevention.

我想補充一點——我是 Nick。從預算角度來看，我們不會試圖挾持客戶的資安預算，逼他們購買大量的服務工時來支撐一個非自動化的產品。我們帶來的是自動化與機器學習、易用性，並且我們正在讓非常先進的技術普及化。這讓客戶能達成我們為潛在客戶與既有客戶所推動的成果，也就是防護與預防。

And so from an apples-to-apples perspective, we're typically at or higher from a technology perspective, but we enable customers to best put that money to use buying technology and more importantly, really implement that technology fully to get the best protection and visibility on the planet.

因此，從同等條件比較的角度，我們在技術面通常持平或更高，但我們讓客戶能把這筆錢更有效地用在購買技術上，更重要的是，真正把技術完整落地，以獲得地表上最佳的防護與可視性。

Great. I have a quick one, if I can squeeze in. If not, I'll ask you privately. CrowdStrike highlighted on the last call that they won Workday from you, and they highlighted false positives and reasons why they said that this customer switched to them. I think it's just fair to ask the question, if you can refer to their statements and announcements on this customer.

很好。我有個快速問題，如果我能插問一下的話；如果不行，我會私下問你們。CrowdStrike 在上一通電話會議中提到他們從你們手上贏下了 Workday，並提到誤報（false positives）等原因，說明為何該客戶轉向他們。我覺得公平起見要問一下，你們是否能回應他們針對這位客戶的說法與公告。

Yes. I mean I think it's something that you'll see anecdotally happening. I mean we've had in excess of $1 million ACV displacement this quarter as well for a Fortune 500 company, and they cited the same. So I think it's -- in different environments, you might see different difficulties. I think a lot of it is sometimes about relationships. But I think what's incredibly interesting about the customers that we've displaced is the reference they made to the amount of infections they have to deal with, which to us is really why you're bringing in the cybersecurity solution. You want to prevent these infections from happening.

是的。我想你會看到這種情況以個案方式發生。本季我們也有一筆超過 100 萬美元 ACV 的替換案，對象是一家《財富》500 大企業，他們也提到同樣的點。所以我認為——在不同環境中，你可能會看到不同的困難。有時候很大一部分也與關係有關。但我覺得我們所替換掉的客戶提到的一個非常有趣的點是：他們必須處理的感染數量。對我們而言，這正是你導入資安解決方案的原因——你希望防止這些感染發生。

So to us, I mean, false positive performance, it's always something that you deal with. I mean they deal with that. We deal with that. It's something that you'll deal with that forever. But again, infection is something that's unacceptable. And I think that's why you see customers at scale, again, multimillion-dollar ACVs shifting away, and that's kind of what we see in the space today.

所以對我們來說，誤報表現一直都是你必須面對的事情。他們要面對，我們也要面對，這是你永遠都會面對的事。但再次強調，感染是不可接受的。我認為這就是為什麼你會看到大型客戶——再次強調，數百萬美元 ACV——正在轉移離開，而這就是我們今天在市場上看到的情況。

And this is Nick here. Time and time again, what we've seen for several years now is folks go with SentinelOne for really a unique combination of prevention, OS coverage and support, automation and then lastly, as Tomer has mentioned, efficacy. So our ability to protect, to prevent and to keep our customers safe.

我是 Nick。一次又一次地，過去幾年我們看到人們選擇 SentinelOne，是因為一個非常獨特的組合：預防、作業系統覆蓋與支援、自動化，最後如 Tomer 所提到的，有效性（efficacy）。也就是我們保護、預防並讓客戶保持安全的能力。

The next question is from Andrew Nowinski with Wells Fargo.

下一個問題來自富國銀行（Wells Fargo）的 Andrew Nowinski。

Congrats on a very good quarter. Just 2 quick questions for you. A number of vendors are talking about the start of another firewall refresh cycle. But given the comments you've made today, it sounds like you're indicating that we're also at the start of an endpoint refresh cycle and -- as more enterprises rip out their aging legacy solutions. So I'm just wondering if that's the right characterization of the strong demand that you're seeing. Or do you think the ransomware attacks that we've seen over the last 9 months, maybe fueling the momentum? I'm just really trying to get a feel for how long this exceptionally strong momentum can continue.

恭喜本季表現非常好。我只有兩個快速問題。許多廠商都在談另一輪防火牆更新週期的開始。但根據你們今天的評論，聽起來你們也在暗示端點更新週期也正要開始——更多企業正在汰換老舊的傳統解決方案。所以我想確認一下，這是否是你們所看到強勁需求的正確描述？或者你認為過去 9 個月我們看到的勒索軟體攻擊，可能也在推動這股動能？我只是想更了解這種異常強勁的動能能持續多久。

I think it's a combination of quite a few factors. I mean definitely some tailwinds. I mean some -- the hybrid work environment, and two, refresh sales cycles to increased need of abilities to the government pointing out EDR solutions is one that should become mandatory in environment. So I think there are many different drivers to what we're seeing right now in endpoint security.

我認為這是多種因素的綜合。確實有一些順風因素。第一是混合式工作環境；第二是更新換代的銷售週期；再加上能力需求提升，以及政府指出 EDR 解決方案應該在環境中成為強制要求之一。因此，我認為我們現在在端點安全領域看到的現象，有許多不同的驅動因素。

And I think the road is long. And I think what really is important to understand about our platform is we're much more than endpoint security. So for a lot of these new accounts that we're winning, the net new logo motion that we have is already going into other adjacencies in the enterprise, whether it's IoT security or cloud security. So it's not only the endpoint refresh cycle. It's actually something that drives an overall look at your entire cybersecurity posture. And we're becoming the trusted partner for these enterprises to actually continue and grow up and down the stack and in different surfaces.

而且我認為這條路還很長。我認為真正重要、需要理解我們平台的一點是：我們遠不只是端點安全。因此，對於我們正在贏得的許多新客戶，我們的全新客戶（net new logo）拓展動能，已經延伸到企業內的其他相鄰領域，不論是 IoT 安全或雲端安全。所以這不僅僅是端點更新週期；它其實會驅動你對整體資安態勢的全面檢視。而我們正成為這些企業可信賴的合作夥伴，能夠在整個技術堆疊上下延伸，並在不同攻擊面上持續擴展。

So all in all, I mean, it drives, I think, a complete overhaul of the cybersecurity stack. I wouldn't call it necessarily a refresh cycle just because they're assuming different secular trends that are pushing it toward just modernized environment and the ability to extend into every part of what is now a completely flexible parameter versus the parameter that we've seen in the past. It was mainly kind of firewall bound. Today, that's completely dissolved. Today, it's device to cloud. And that's really what's driving massive motion in our market.

所以總體而言，我的意思是，我認為它正在推動資安技術堆疊的全面重構。我不一定會把它稱作更新週期，因為他們是在假設不同的長期結構性趨勢，正把環境推向更現代化，並且具備延伸到如今「完全彈性邊界」每個部分的能力，而不是我們過去看到的那種邊界。過去主要是以防火牆為界。今天，那已經完全瓦解。今天是從裝置到雲端。而這正是推動我們市場出現巨大動能的原因。

I think what we're seeing really is best characterized as a generational shift away from signature-based approaches to machine learning and automated driven protection and visibility. And that's what we're experiencing. We're still in early innings, but it's massive. It's macro and it's global.

我認為我們看到的情況，最貼切的描述是：從以特徵碼（signature-based）為主的方法，世代性地轉向以機器學習與自動化驅動的防護與可視性。這就是我們正在經歷的。我們仍在早期階段，但規模非常龐大；它是宏觀的，也是全球性的。

That's great. And just my follow-up question. As it relates to some of the $1 million ARR customers that you landed, I'm wondering if you could just give us any more color in terms of maybe how many agents those deals typically involve or how many modules they typically purchase. I'm just wondering, ultimately, how much of an opportunity there is at those customers for additional purchases down the road. Are they buying everything and maxing out their purchase on the initial purchase to get to that $1 million-plus spend? Or is there a big opportunity with those going forward?

很好。接著我的追問是：關於你們拿下的一些 ARR 達到 100 萬美元的客戶，我想請你們再多提供一些細節，例如這類交易通常涉及多少個 agent，或通常會購買多少個模組。我想了解的是，這些客戶未來追加採購的機會到底有多大。他們是否在首次採購時就把能買的都買了、把採購額度拉到 100 萬美元以上？還是說，後續其實還有很大的成長空間？

We feel it's far from it, and it can vary significantly. We definitely see the ability to expand into other footprints in the enterprise in almost every account that we land. We're also putting more and more modules. Just last quarter, we actually added 2 new modules into our roster and portfolio of capabilities.

我們覺得離「買到頂」還差得遠，而且差異可能非常大。我們確實在幾乎每一個我們拿下的客戶帳戶中，都看到能夠擴展到企業內其他部署範圍的能力。我們也在導入越來越多模組。就在上一季，我們其實在我們的名單與能力組合中新增了 2 個新模組。

So all in all, we feel pretty good about our ability to continue and grow in these customer accounts, both in terms of covering more footprint but also in terms of selling more modules. We're definitely seeing better adoption for our Ranger module, as I mentioned. But again, we've got so many different abilities right now. And we're seeing the beginning and the first innings of traction with a lot of our newer modules. And it's kind of a gain that we saw, a film that we already saw, and we see it growing over time. So all in all, the potential is quite significant.

所以總體而言，我們對於在這些客戶帳戶中持續成長的能力相當有信心：一方面是覆蓋更大的部署範圍，另一方面是銷售更多模組。正如我提到的，我們確實看到 Ranger 模組的採用率更好。但同樣地，我們目前有非常多不同的能力。我們也看到許多較新的模組開始出現初步、早期的牽引力。這有點像我們以前已經看過的一種成長曲線，而我們也看到它會隨時間持續放大。所以總體來說，潛力相當可觀。

The next question is from Patrick Colville with Deutsche Bank.

下一個問題來自德意志銀行（Deutsche Bank）的 Patrick Colville。

So sequential ARR grew $37 million, if I'm not mistaken. Just a kind of housekeeping item. I presume Scalyr -- that closed in the first quarter, right? So that $10 million you called out of inorganic ARR fell in 1Q, right? So that $37 million that you guys did this Q was all organic. Is that right?

如果我沒記錯的話，序列 ARR 成長了 3,700 萬美元。這算是一個行政性問題。我推測 Scalyr——是在第一季完成交割的，對吧？所以你們提到的那 1,000 萬美元非有機 ARR 是落在 1Q，對吧？因此你們這一季做出的 3,700 萬美元全部都是有機成長。是這樣嗎？

That's correct. We got $9 million ARR when we acquired Scalyr. It's now $10 million. Our focus with Scalyr has obviously been on implementing the technology, not on really pushing our go-to-market. That's something we'll advance once we get it completely tied into the SentinelOne back end. So yes, $36 million of the $37 million.

沒錯。我們收購 Scalyr 時帶來 900 萬美元 ARR，現在是 1,000 萬美元。我們對 Scalyr 的重點顯然是導入技術，而不是去大力推動我們的 go-to-market。等到我們把它完全整合到 SentinelOne 的後端之後，我們會再推進那部分。所以是的，3,700 萬美元中的 3,600 萬美元。

Sorry, just for clarity, so that $10 million was in 1Q and [there's 0 for 2Q].

抱歉，為了釐清，所以那 1,000 萬美元是在 1Q，而［2Q 是 0］。

$1 million incremental between Q1 and Q2 for Scalyr. So we acquired them at $9 million. They're currently $10 million.

Scalyr 在 Q1 到 Q2 之間增加了 100 萬美元。所以我們收購時是 900 萬美元，目前是 1,000 萬美元。

Okay. That's great. Can I just, I guess, follow on about the competitive environment. I mean how has going public helped in the enterprise or I guess landing kind of VAR partners or SI partners? Is -- has the, I guess, the publicity and the profile of being a public company kind of assisted in that? Or is it actually kind of very similar to what you guys are already seeing pre-IPO?

好的。很棒。我想接著追問一下競爭環境。我是說，上市在企業端或是我想在爭取 VAR 夥伴或 SI 夥伴方面，帶來了哪些幫助？成為上市公司所帶來的曝光度與能見度，是否在這方面有所助益？還是其實跟你們 IPO 之前看到的情況非常類似？

I think we're definitely seeing an elevation of the brand, and we're definitely seeing more market presence. I think the tack that we choose to be very transparent about what the company does is dispelled, I think a lot of the misinformation that was there around us in the market, mainly fueled probably by competition. So for us right now, we feel better traction, we feel a better competitive environment, more at that for sure.

我認為我們確實看到品牌被拉升，也確實看到更強的市場能見度。我們選擇對公司做什麼保持非常透明的做法，我認為已經消除了市場上原本存在的許多錯誤資訊，而那些錯誤資訊主要可能是由競爭對手所推動。因此就我們目前而言，我們感受到更好的牽引力，也感受到更有利的競爭環境，這點是肯定的。

And that's not only fueled by our IPO but also our great performance in the Gartner Magic Quadrant, where we were singled out as a vendor with the most critical capabilities out of every vendor out there for any buyer type. I mean that just comes to show that from prevention and all the way to detection, response and remediation, our platform today holds the most capabilities out of any other platform out there.

而這不僅是由我們的 IPO 所帶動，也包括我們在 Gartner 魔力象限（Magic Quadrant）中的優異表現；我們被點名為在所有供應商中、針對任何買方類型都具備最多關鍵能力的供應商。我的意思是，這顯示從預防一路到偵測、回應與修復，我們的平台在今天所具備的能力，超過市面上任何其他平台。

So all in all, I think, again, multiple factors come into play, the IPO shining a spotlight on all of them. And now we're seeing, I think, just increased and accelerated traction across the board, both in partners and with customers, with sales cycles and with competitive win rates.

所以總體而言，我認為同樣地，有多個因素共同作用，而 IPO 讓所有這些因素都被聚光燈照到。現在我們看到的是全方位更高、也更加速的牽引力，不論是在合作夥伴端或客戶端、銷售週期，以及競爭性勝率。

The next question is from Shaul Eyal with Cowen.

下一個問題來自 Cowen 的 Shaul Eyal。

Congrats, guys, on the strong debut quarter. Dave, when we think about your Czech Republic R&D facility, is that driven by global lack of talent? Is it driven by higher R&D costs in the West Coast or in Israel? Or is it pretty much all of the above? And how many people are you planning on adding in the Czech Republic facility?

恭喜各位在上市後第一個季度表現強勁。Dave，談到你們在捷克的研發據點，這是因為全球人才短缺所驅動嗎？是因為美國西岸或以色列的研發成本更高嗎？還是以上皆是？另外，你們計畫在捷克據點新增多少人？

Sure. So we obviously look for global talent everywhere. One of the reasons we're looking at Czech Republic is because they do have an excellent amount of [talent in terms of security assets]. We don't have this in the U.S. So we're going to continue to look for areas where we can advance, what we need in terms of driving our products and our innovation. Obviously, there are areas that are economically more viable in terms of growth strategy. So we're going to continue to monitor that, and we'll do that for the foreseeable future.

當然。我們顯然會在全球各地尋找人才。我們看捷克的原因之一，是因為他們在［資安相關人才］方面確實非常優秀。這在美國我們沒有。所以我們會持續尋找能夠推進我們在產品與創新上所需能力的地區。當然，也有一些地區在成長策略上、就經濟性而言更具可行性。因此我們會持續觀察，並且在可預見的未來都會這麼做。

Got it. Got it. And maybe a question on cohort analysis, if it's not too early. Can you talk to us maybe from a quantitative or maybe just from a qualitative perspective on the LTV of cohorts over the past few quarters now, I want to say even a few years, specifically on the heels of the fact that your deals greater than $1 million have been fantastically on the rise as of late?

了解，了解。再來可能是關於 cohort 分析的問題，如果現在問不會太早的話。你們能否從量化、或至少從質化的角度，談談過去幾個季度——我甚至想說過去幾年——各 cohort 的 LTV 變化？特別是考量到你們超過 100 萬美元的大型交易最近成長得非常快。

This is Nick here. So we really think about growing the business from a new logo perspective as well as land and expand. If someone asked a question on that, the answer is yes, we're doing both. What we're seeing, and Tomer talked about this, is with the tremendous innovation, introduction of new modules, new surfaces to protect, new problems to solve, we've seen huge land-and-expand opportunities. And in fact, 50% of our customer base is running our Core or Control package. We can upgrade those folks to Complete. We have many modules to cross-sell and upsell.

我是 Nick。我們在思考業務成長時，會同時從新客戶（new logo）以及「先落地再擴張」（land and expand）兩個面向來看。剛才有人問到這點，答案是：是的，我們兩者都在做。我們看到的是——Tomer 也談到——隨著大量創新、新模組的推出、需要保護的新攻擊面、以及要解決的新問題，我們看到了巨大的 land-and-expand 機會。事實上，我們有 50% 的客戶在使用我們的 Core 或 Control 套裝。我們可以把這些客戶升級到 Complete。我們也有許多模組可以做交叉銷售與向上銷售。

What we're also finding is at time of sale for new customers, they're traditionally landing with a Complete package with other modules as well. So we're really seeing a combination of both of those things driving our average deal size, our NRR, our retention. All of those things are up into the right for really those reasons.

我們也發現，對於新客戶而言，在成交當下他們傳統上會先以 Complete 套裝落地，並同時購買其他模組。所以我們確實看到這兩者的組合在推動我們的平均交易規模、NRR 與留存率。基於這些原因，這些指標都在持續向上。

I think the last thing I would leave you with is just echoing sort of overall market momentum, awareness and adoption of technology like SentinelOne is really taking leap in a big, big way. And so that's also driving a lot of the adoption.

我最後想補充的一點是：呼應整體市場動能，市場對像 SentinelOne 這類技術的認知與採用，正以非常、非常大的幅度躍升。因此這也在推動大量的採用。

The next question is from Roger Boyd with UBS.

下一個問題來自 UBS 的 Roger Boyd。

I guess relative to the net retention result, you called out the success with tiers and modules. Wondering if you could talk about the impact of cloud workload protection, where you think you are on that opportunity and any sense of the penetration that, that product has with customers today.

我想相較於淨留存的結果，你提到分層與模組化的成功。想請你談談雲端工作負載防護的影響、你認為在這個機會上目前處於什麼位置，以及該產品目前在客戶中的滲透率大概如何。

Yes. We're looking definitely to expand more and more into cloud security. And specifically, when we talk about cloud security, we talk about workload protection platform and broadband protection. Today, I think we've shared that it's already about 10% contribution into our revenue is coming from the cloud and server protection piece that we sell. We're seeing more and more traction in cloud security. And to us, we also continue to bolster the capability set there.

是的。我們確實正尋求在雲端安全領域持續擴張。具體來說，當我們談到雲端安全時，我們談的是工作負載防護平台以及寬頻防護。今天，我想我們已經分享過，我們所銷售的雲端與伺服器防護相關業務，對營收的貢獻已約為 10%。我們看到雲端安全的動能越來越強，而我們也持續強化那裡的能力組合。

We've added CIS benchmarking capabilities just a couple of quarters ago, and we're seeing better and better reduction. We've introduced cloud workload protection platform as an integral part of the AWS marketplace, and that drives adoption as well. So all in all, we're definitely seeing an opportunity. That's almost completely greenfield there. And we feel like a lot of our customers are coming back to us now that they're starting to transition into the cloud, and they're deploying into their Kubernetes environment, into native cloud environment. We actually have a product that is completely agentless that's been tapped into the Kubernetes control plane and immediately cover all containers.

我們在幾個季度前新增了 CIS 基準評測能力，並且看到越來越好的改善。我們也將雲端工作負載防護平台作為 AWS Marketplace 的重要組成部分推出，這也帶動了採用。總體而言，我們確實看到一個機會——那幾乎完全是綠地市場。我們覺得很多客戶在開始轉向雲端、部署到他們的 Kubernetes 環境與原生雲環境時，現在又回到我們這裡。我們其實有一款完全無代理（agentless）的產品，已接入 Kubernetes 控制平面，能立即覆蓋所有容器。

So all in all, we feel well positioned to continue and capture market share in the cloud workload protection platform space. And to us, again, if you couple that with the platform approach, with everything coming back to the same security data lake, then you really start unlocking synergies. And you allow security teams to really ask a question once and get an answer from every part of their enterprise network that spans from the endpoint to the cloud, and that becomes a very unique proposition.

總之，我們認為自己處於有利位置，能在雲端工作負載防護平台領域持續並取得市占。對我們而言，再次強調，如果你把這與平台化方法結合起來，讓所有內容都回到同一個安全資料湖，那麼你就真正開始釋放協同效應。你也讓資安團隊能夠只問一次問題，就從企業網路的每個部分得到答案——範圍從端點到雲端——這會成為非常獨特的價值主張。

The next question is from Alex Henderson with Needham.

下一個問題來自 Needham 的 Alex Henderson。

Great. That was a great question from Roger, but I wanted to go into a slightly different angle on the cloud architecture that you bring. Certainly, selling to the IR partners and selling to other MSSPs and the managed direct people, you end up having to integrate them into your platform. Can you talk a little bit about the degree that your cloud structure, your ability to integrate micro services, your cloud-native characteristics give you a differential advantage? And to what extent that partnership integration makes your partners more sticky over time and amplifies that loyalty?

很好。Roger 的問題很棒，但我想從你們帶來的雲端架構稍微不同的角度切入。當然，賣給 IR 夥伴、賣給其他 MSSP，以及受管理的直銷團隊時，你最後都必須把他們整合進你們的平台。你能否談談你們的雲端架構、整合微服務的能力、雲原生特性在多大程度上帶來差異化優勢？以及這種夥伴整合在多大程度上會讓夥伴隨時間變得更黏著、並放大那種忠誠度？

Yes. For sure. And our platform is 100% cloud native. I mean we started in the cloud. I mean it's something that is today built in a complete multi-tenanted way, which is actually something that's relatively unique in our space. And it's also what enables these partners to basically deliver their services in a much more effective manner. So they get up and running in seconds. They get a complete cloud tenant for themselves. They immediately deploy using our discovery and deployment services. And then they leave the platform there for us to come in and monetize.

是的，當然。我們的平台是 100% 雲原生。我們一開始就是在雲端起家。如今它以完整的多租戶方式建置，這在我們的領域其實相對少見。而這也讓這些夥伴能以更有效的方式交付他們的服務。他們可以在幾秒內上線，為自己取得一個完整的雲端租戶，並立即透過我們的探索與部署服務進行部署。然後平台就留在那裡，讓我們進一步進行變現。

And once again, all of that is 100% pure cloud motion, which not only enables speed, but once again, ease of use, ease of deployment, which just turns out to be a much more efficient model than the platforms that they've been using in the past, which obviously were more on-prem down. So to us, again, being completely cloud native, being multi-tenanted is the competitive differentiator we have for that part of the market. But also, you can probably -- probably see the same type of buying motion in the enterprise as well, where conducting a POC, deploying the platform is becoming easier and easier in all in the cloud delivered fashion.

再一次，這一切都是 100% 純雲端的推進方式，不僅帶來速度，也再次帶來易用性與易部署性；結果證明，這比他們過去使用的平台——顯然更偏向本地部署——是一種更有效率的模式。因此對我們而言，再次強調，完全雲原生、具備多租戶能力，是我們在該市場區塊的競爭差異化因素。不過，你也可能在企業端看到同樣的採購動態：進行 POC、部署平台，在以雲端交付的方式下正變得越來越容易。

I realize we're running long here, but I wanted to add a second question. Could you talk a little bit about your hiring plans and sales -- what type of capacity you see going forward in terms of your adds for the next couple of quarters? And then what's the availability look like? And what does the cost look like? Are we seeing escalation in the prices of labor? And are there enough people out there to fulfill your needs?

我知道我們時間有點長，但我想再加問第二個問題。你能否談談你們的招募計畫與銷售——就未來幾個季度而言，你們在新增人力方面預期會有什麼樣的產能？另外，人才供給情況如何？成本又如何？我們是否看到勞動成本上升？市場上是否有足夠的人才來滿足你們的需求？

Yes. We're definitely investing for growth. It's an enormous opportunity out in front of us. So we're going to continue to invest and build and grow our go-to-market team, our sales reps, sales engineers, channel managers, really investing in our go-to-market engine. But at the same time, what we've been also able to yield is increasingly greater sales efficiency. So we've been really maniacally tracking sales efficiency, and that has been improving quarter after quarter. So we're going to actually have each quarter a bigger sales team that is also more efficient, helping us continue to drive growth.

是的。我們確實在為成長投資。眼前是一個巨大的機會。因此我們會持續投資、建置並擴大我們的 go-to-market 團隊，包括業務代表、售前工程師、通路經理，真正投資在我們的 go-to-market 引擎上。但同時，我們也逐步實現更高的銷售效率。我們一直非常嚴密地追蹤銷售效率，而且它一季又一季地改善。因此我們實際上會在每個季度擁有更大的銷售團隊，同時也更有效率，幫助我們持續推動成長。

But the last thing, and this is not to be underestimated with our unique go-to-market business, is that multidimensional channel that we talked about, massive sales forces at various channel partners in the MDR space, MSSP partners, IR partners, traditional resellers and distributors. And so that's the right way to think about our global field presence, is adding all of those folks up and understanding that each time we're adding a partner behind that are hundreds of sales reps doing 2,000-plus accreditations to date. That's really building that flywheel, but we're absolutely going to continue to invest in our own SentinelOne personnel as it relates to go-to-market.

但最後一點——而且這點不容低估——以我們獨特的 go-to-market 業務而言，就是我們談到的多維度通路：在 MDR 領域的各種通路夥伴龐大銷售團隊、MSSP 夥伴、IR 夥伴、傳統經銷商與代理商。因此，思考我們全球前線佈局的正確方式，是把所有這些人都加總起來，並理解每當我們新增一個夥伴，其背後就有數百名業務代表，迄今已完成 2,000+ 項認證。這真的在打造那個飛輪，但就 go-to-market 而言，我們也絕對會持續投資我們自己的 SentinelOne 人員。

And on the cost and availability?

那成本與供給呢？

What we're finding, and this sort of goes back to a question before around some of the benefits that we've seen with our IPO, is that, that brand recognition doesn't just extend to channel partners and customers. It importantly extends to the best talent in the market. And so our ability to get really, really good folks who can hit the ground running, bring tremendous yield, that's enabling us to have great attraction and appeal to get the best talent in the market.

我們發現——這也某種程度回到先前關於 IPO 帶來一些好處的問題——品牌知名度不僅延伸到通路夥伴與客戶，更重要的是，它也延伸到市場上最優秀的人才。因此，我們能夠招募到非常、非常優秀、可以迅速上手並帶來巨大產出的夥伴，這讓我們在吸引並取得市場上最佳人才方面具有很強的吸引力與號召力。

I would now like to pass the call back over to Tomer Weingarten, CEO of SentinelOne. Thank you. You may proceed, Mr. Weingarten.

我現在想把電話會議交回給 SentinelOne 執行長 Tomer Weingarten。謝謝。Weingarten 先生，您可以繼續。

Thank you, and thank you all for joining us today, and we look forward to talking to you again in the near future. Thanks a lot.

謝謝，也謝謝各位今天加入我們。我們期待在不久的將來再次與各位交流。非常感謝。

That concludes the conference call. Thank you for your participation, and enjoy the rest of your day.

本次電話會議到此結束。感謝各位的參與，祝各位今天剩下的時間愉快。