Cyber security firm SentinelOne forecast third-quarter revenue above Wall Street estimates and raised its annual revenue outlook, as cybersecurity spending remains strong.
Firms have prioritised expenditure on cyber security, as sticky inflation and high interest rates forced them to cut back on spending elsewhere.
Worldwide spending on security and risk management is projected to increase 14.3 percent in 2024, according to research firm Gartner.
“We’re seeing strong demand for our cloud security and data (leak) solutions which combined grew triple digits,” CEO Tomer Weingarten said on an earnings call, adding that its mainstay Singularity Platform continued to attract customers.
For the fourth quarter, the company expects revenue of US$169 million ($256 million), which is…
