NEWS

SentinelOne, Inc. (S) CEO Tomer Weingarten on 24th Annual Needham Growth Conference (Transcript)

Jan 11, 2022

SentinelOne, Inc. (NYSE:S) 24th Annual Needham Growth Conference January 11, 2022 1:15 PM ET

Company Participants

Doug Clark - Head, Investor Relations

Tomer Weingarten - Chief Executive Officer

Dave Bernhardt - Chief Financial Officer

Conference Call Participants

Alex Henderson - Needham Company.

Alex Henderson

Hi, my name is Alex Henderson. I'm the Needham, security and networking analyst. It's a distinct pleasure to have SentinelOne at our conference this year. We have a couple of guys from the company to talk in a fireside chat. Before we jump into it, let me remind you that you have a question-and-answer dialog box. And if you have a question that you want to ask, please do not hesitate. The more interactive it is with the audience, the better. And, I'll pass that along to management, as I see him come in. So welcome, guys.

Tomer Weingarten

Thanks Alex.

Question-and-Answer Session

Alex Henderson

So, you guys had an announcement this morning, right?

Tomer Weingarten

Yes.

Alex Henderson

And you want to tell us what it was?

Tomer Weingarten

Yes. We're partnering more deeply with ServiceNow. To us, we've released quite a few modules in our platform that speak more and more to endpoint management. And really allowing folks to use our platform is a complete fleet control mechanism, something that allows them more capabilities, even beyond just classic security and protection. And ServiceNow, again, one of the biggest, I guess, IT management firms out there today, now, everybody that's using them can natively integrate into the SentinelOne platform and use that for quick management, remediation, threat, credit alerts and resolution, so and all again, just a great extension to the platform.

Alex Henderson

What are the most interesting hacks that are vulnerabilities that's happened in a long time? There's another news item that's out there, which is the log4J stuff. How have you guys been able to respond to that vulnerability and potential risk to keep to your customers? Have you been able to control it?

Tomer Weingarten

Yes, to the extent that vendor like us can I mean, log4J exists in different stacks than the one that we are typically in charge of. We are more around machine protection and trying to detect threats. So what we've done in the course of the 24 hours after the news broke on log4J, we've actually shown customer how they can detect any post exploitation, payload or malicious activity that stems from that attack. So short of actually patching, patching and detecting the actual exploitation itself it's the next best thing.

Again, we're not a patching vendor; we don't have an ability management vendor. But at the same time, if you had SentinelOne installed on any server, that was vulnerable, you could have detected any post exploitation attempt. And that is something that our customers were leveraging, as the news broke, immediate hunting queries that can reveal any type of activity in real time, obviously, the mapping of the entire state in finding all these vulnerable instances of software, but something that again, we can do natively. So that was kind of our part in this entire, I'd say, complete chaos or over vulnerability. But all-in-all, I think it's something that gave a lot of peace of mind for some of these customers, is they were rushing to actually deploy batches.

Alex Henderson

It's a -- it's amazingly ubiquitous problem. So SentinelOne has been one of the most intriguing IPOs over the last year, huge success in the IPO. You've delivered exceptional results over the course of the year. Frankly I thought your original forecast looked to be aggressive, and then you blew it away. So shame on me for not having more faith in your ability to scorch the numbers, can you give us a little bit of a background on where you are in terms of your revenue, your growth rate, your profitability, and the likes just set the stage for people who may not be as familiar with the fundamentals of the company?

Tomer Weingarten

Yes, we were definitely on track for the long term targets that we've defined. And last quarter, we've ended at about 130%, there our growth. I mean, that that has been just an amazing achievement by the team here. And into us, I mean, as we look to the future, I mean, very robust pipeline, new product lines coming online for us, contributing more and more revenue. The way we built our business over time, is really by seeding all these product lines and knowing that they will help us accelerate over time. So if you look at our net retention rate, our ability to also go back to our state, in upsell, and cross sell to all these new offerings that we bring into the market that becomes a growth engine in itself. The entire data retention and data capabilities that we bring into the market that's becoming a needed ingredient, cloud workload protection, the complete new adjacency to endpoint and one that we again, have a product that’s complete best of breed runtime protection, that we deliver on contained [ph] environments, is second to none today in the market.

So all-in-all, I mean, just a lot of room for growth, a lot of things going right for us. And I think, what we've been trying to do is just continue and sustain growth for as long as we can. On the call it on the flip side of it, if you look at our kind of expense line, I think we're showing progress there as well. And we're cutting, in a pretty nice clip our expenses and aligning them better to our revenue growth. And that's going to continue into next year as well. So all in all, I mean, we were trying to balance investing and reinvesting in the business, but at the same time becoming a more profitable type of company. And that's definitely our long term target, long term targets are.

Alex Henderson

One of the points and I make this point also on CrowdStrike is you guys are a platform, people like to talk to you as a, an endpoint company. But that's really not the right way to think about it. Is it? I mean, at the end of the day, endpoint is a source of information. It's a source of the data that allow you to understand the truth of how an attack unfolds over time. But at the end of the day, your platform, takes that day has the ability to extend it into a variety of adjacencies. To that extent, you're much broader than just an endpoint company. We've seen an industry now recently, take EDR endpoint detection and response and redefine it as extended detection and response, platform term. I find it really disingenuous when a company that's in one of these adjacencies redefines themselves as a from being a CM company to being the next ER [ph] company with a little bit of marketing glitz on their on their website.

Can you talk to this issue, because I really think the street needs to fully grasp how important it is to understand the distinction between a true single micro service based multitenant, scalable cloud platform, and one that is designed to target a particular niche that's then now trying to redefine themselves because the XDR term is really misused us almost as bad as zero trust.

Tomer Weingarten

Yes. Almost…

Alex Henderson

Or maybe worse. I'm not sure which one.

Tomer Weingarten

Either works. I think they're both overly used. But to your earlier points, I mean, when you look at a platform like us today, I mean, yes, people call us an endpoint company that's kind of where we started. But if you look at our ability to cover surfaces, an endpoint is just one surface in the enterprise. SentinelOne today delivers capabilities across endpoint, mobile security, IoT security and cloud security, not to mention data analytics capabilities. So the ability goes to cover all these different surfaces in the enterprise, in itself is already becoming a capability that almost no other vendor has out there today. And obviously the ability to deploy onto the surfaces also gives you the ability to collect the telemetry and collect the data natively into the data platform. And when we say XDR, that's not just a passive SIEM data storage element, it's actually an active platform that doesn't only collect the data; it also processes the data at the same time, in real time at cloud scale.

And lastly, where I think almost every SIEM out there is severely lacking is the automation and enforcement element. Because we control all the surfaces, we can then automate action back and close the loop across every surface in the enterprise. So when we think about XDR, we think about a true step function improvement in a complete paradigm shift from the passive SIEM vendors that have been used to kind of storing just data to a platform that allows you to collect data, action data, but then also obviously, is open to ingesting data from any other source. And that's another big caveat with some of the other XDR claimers out there is that they devise their own alliance of XDR and they kind of say, you know what, we'll work with only this vendor and that vendor in that's our XDR.

And that is in complete contrast to what customers actually want to do. Customers have a variety of different vendors, they want to just all of them, that was one thing that was actually pretty good with this SIEM; it could have ingested data from any source. So to be a formidable XDR platform, you got to really ingest any source of data, automating source of data, enforce it and that is something that I think most companies that claim to have XDR today, don't really have.

Alex Henderson

I want to I want to go back to the to the architecture matters point, which is, you really are truly, from the get go, micro service based, agile CICD pipelining of additional functionality, multitenant, cloud, native, all of those things that allow you to be extremely nimble, on improving functionality. Comparatively, some of these other companies have come at it with a architecture that is single tenant oriented, originally on-premise oriented, not designed with the right architecture to be extensible and scalable, that's necessary for this true platform architected war that we're going to be fighting going forward.

Tomer Weingarten

Agreed. And I think that it really hits them in two main areas. And I think that everything is, is doable, right? I mean, you can absolutely port all of these antiquated services into the cloud. But it's not cloud native. What does it mean? It means two main things again; one, it's not going to be as fast, there's just no way that you can enjoy the true cloud scale and cloud efficiency. We're just porting single tenant solutions into the cloud. And the second thing, it's not going to be, it's not going to be cheap. It's going to be quite expensive to achieve the speed that we can natively achieve with a solution like scalar with a next generation data and the solution that's already born in the cloud, and enjoys cloud scale, enjoys multi tenancy, enjoys shared architecture, to deliver more speed at a better cost.

So to me, these two alone are such big advantages, and that just compounds when you think about the ease of deployment, the accessibility of data, the ability to store data for longer, all of that is just become just the icing on the cake. When you go up against some of these incumbent vendors in data analytics, and I think you were -- we're heading towards a pretty massive transformation in the data analytics market. I mean, not just, by the virtue of SentinelOne deploying more, more and more of our data solution into that, I think there's plenty, plenty of opportunity there for most next gen vendors to come in with a true robust offering and disrupt what people have been doing for a long while just because there's massive data proliferation in the enterprise right now. And it's very cost prohibitive to put the newly found data into these old platforms, so folks are just looking for more solutions for data overages to deploy side by side. So I think all of that is something that is going to take even more steam as we go into the next couple of years.

Alex Henderson

But the other element of this is that by ingesting the right data at the right scale, across multiple critical surfaces and understanding the contextual information both at a time on a time variable as well as on the manifestation of an attack variable indications of attack, and indications of compromise that give you that pattern of an attack unfolding. You are then able to automate and use machine learning. And all of those artificial intelligence elements to intercede at machine speed. So can you talk to that point? Because I think it's absolutely critical, particularly in a world where there's 2 million open racks for people who work in security because you can't train people fast enough. And even if you could, they couldn't intercede fast enough.

Tomer Weingarten

Though, I mean, the correlation element and delivering prediction in real time is, is I think, one of the most important aspects of our platform. And I think one of the most amazing manifestations of that, that I've seen, is actually our work with the incident response ecosystems. These are the folks that come in whenever someone gets breached, and they pick up the phone. And they're the cavalry, right? I mean, it's KPMG, it's Booz Allen Hamilton offers, Marcel, some of these very reputable Incident Response firms.

When they're using our platform to conduct breach response, they have an unprecedented ability to basically go in and with one click via the cloud, deploy into every asset in the enterprise, at machine speed completely, automatically. We discover all devices, we then automatically deploy on top of them. And then we do automatic remediation, to profile every single machine out there. And that's even before the service starts. To think about the compounded power, that that type of a solution that that type of technology can bring to the incident responder, and now it's something that every security analyst in the enterprise can enjoy as well. And that's why sometimes when we when we look at our platform, we kind of call it the security analyst in the box, because it automates a lot of the grunt work away, and it allows you to really look at the insights of every incident, and then with one click react in the way that you want, or program the system to actually react for you, and do it in real time.

And to us, I mean, that's the true revolution, in security. It's not just about deploying EDR, and gaining more visibility and more telemetry, in augmenting the antivirus. It's about delivering true automation, and AI brain machine learning brain that can actually take these decisions in real time and deflect attacks, it can deflect all attacks, I mean, nothing is completely bulletproof. But at the same time, if you can have that thing that allows you to now work at scale that is a massive improvement, then you the security analyst, and even 100 security analysts next to you trying to fend off a malicious attacker. Now you have technology that amplifies everything that you do. And that's what we deliver.

Alex Henderson

It's a it's an important point. I think people really need to understand the mechanics are, are nontrivial. This is not easy to do. It's a, it's a complex task, and really does take advantage of the most advanced AI and machine learning capabilities.

One of the elements that you just brought up is the partnering with the incident response companies. And I think this goes to one of the key questions that people have about your business model, which is yes, you're growing in triple digits but your operating margins are quiet low and in this rising interest rate environment. But that provides a natural leverage to your sales cycle, which inherently would drive an improvement in your operating profits overtime. Can you talk to the mechanics associated with the expansion of VAR channel, expansion of the incident response channel and the MSSP channel and how that is going to leverage your business model?

Tomer Weingarten

Yes, I’ll let Dave take some of the operating margin question and then I’ll gladly talk more about the ecosystem itself. You’re on mute Dave.

Dave Bernhardt

When I think about our long term operating profits, we provided guidance on the IPO that we you know, we expect it to be at 20% Plus, you know, EBIT contribution over time. And I think what you're going to see, besides just natural scale of the business, is what you're seeing as customers are expanding into these multiple modules, you're also seeing very high incremental margins on that, because we're already capturing the data and retaining it. And now we make that data actionable across all those other things without having to ingest additional costs. So we have high incremental margin on that. So I think that's definitely one of the things that you're going to see that helps our margin progression over time. And then just that, what you mentioned is natural expansion of MSP MSSP the VAR, everything else, that obviously helps us as we as we scale towards the future.

Tomer Weingarten

I mean the one thing I learned there is when we work with these partners, we become critical to their business and they grow themselves, right. And to us, we lend them once and it's an ever growing, an ever growing engine for us with some of these MSSPs. I mean, we see just really nice growth in their business, nosey; we're enjoying that with more and more licenses that they deliver. And if you look at the IR ecosystem, that's, that's one of the most, I'd say, most amazing engines that we have. These are first flux, deals that come in from all around the world. It's a pipeline that comes on top of the usual pipeline that we generate as an enterprise company, it opens up this massive amount of call it hot and ready deals that come in into the pipe. They're conducted mostly by desire partners. So we're getting immense leverage of all the sellers that are basically part of these organizations, right? I mean, we got our own selling, selling force or direct selling course, no question about that. But then talk about an augmentation of flow to 4000 sellers across the globe, the amount of accreditation that we're doing now on a quarterly basis, is just rising incredibly fast. So to us, this is just an augmentation of our Salesforce, and obviously better reach across every part of this TAM.

Alex Henderson

So there's a lot of subscriptions at CrowdStrike. They've got a lot of a lot of feature sets. You guys are still fairly young company, don't have quite as many. But on the other side of the coin, very high likelihood that we’ll be seeing additional features, additional subscriptions added to the platform over time, based on the fact that you have an extensible and micro service base and all the stuff we were just talking about.

So as I think about the next couple of years, how should we be thinking about additional subscriptions that might come down the pike, any thoughts or scaling of the importance of the things you're working on in the in the background, at this point that might be coming down the pike?

Tomer Weingarten

Yes. But I would say, we got a decent amount of modules and attach modules. I mean, you get about 15 different modules on top of what we bundle is our entry level packages, things like remote script orchestration, Star automatic automated response, MDR, services, application control, and I can go on and on and on, there's plenty there. And that's even before the complete distinct product lines that we've added with IoT security, and cloud worker protection in our mobile security. So all-in-all, we got a lot on the menu, I kind of feel and I have to say, when you look at someone like CrowdStrike, there's also a limit to how much a customer can actually absorb in one, if one time and I think, to us, we really are focused on delivering value, and listening to what customers actually need. I mean, we don't want to just show up with a menu of options and, try to cram it, down their throats; we just want to make sure that we deliver the value at the right time.

And lastly, what I'll say is that, it's also always, in my mind, the question of timing in when you kind of put the, the foot on the pedal. To us, I mean, we got an amazing growth rate. And we want to continue to sustain it for as long as we can. So accelerating some of these product lines on these module attached, we kind of do it over time. We don't want to show up with a 200% net retention rate one day, and just over monetize our estate. So these things take time. I mean, we are focused on gaining new market share in more and more market share one endpoint that is the first and foremost priority. And then obviously, over time, you can attach more and more modules. So part of our strategy is really to stay focus on monetizing endpoint to the best of our ability, and then over time, attaching more and more of these modules, but we got plenty of them. And obviously, we're going to keep on innovating.

Alex Henderson

So I wanted to talk a little bit about cloud workload security, Kubernetes and the like. I can't think of a dynamic that's more important to how enterprises are going to be configured in the next 15 years, 20 years. We are of the belief that we're at the cusp of moving away from an enterprise network, perimeter defence, Legacy client server architecture, which has been trillions of dollars’ worth of infrastructure over the last 35 years, 40 years, to one that is a cloud direct, where users and applications are simply points in the cloud connected across the cloud, where Kubernetes orchestrated applications are independent of the runtime environment, much like you have at AWS today. And that's driven by the adoption of micro services Kubernetes, modern workloads, Coda's infrastructure; you guys have a very interesting product in this space, particularly focused on the runtime side of it. How big of a project could that be? How is that as large an opportunity, as you have in the enterprise side? How do we think about the scaling of that workload opportunity? And where can you go with it?

Tomer Weingarten

Yes, I mean, again, this will be our view. And we can always be wrong. But we feel like it's a massive opportunity, probably one that's equal in size, if not bigger, to the one that we've been seeing in endpoint security. We got a phenomenal solution there that actually integrates seamlessly into containerized environments and it allows folks not only to deliver runtime security and protection, but also collected telemetry to the same data like. And again, we talked about the need to actually retain logs to gain the telemetry to save all that data. That's something that we provide customers the ability to do, as well. And when you look at what's happening right now in the cloud wall protection, obviously as people transition to the cloud, they have to put a security component on top of it. And right now it’s one of the best of breed solutions out there. When you look at our business we kind of said last quarter about 10% of our new ARR came from our emerging product line, cloud security was the number one contributor to that. It’s something that has grown year-over-year about 700%, so it’s growing incredibly fast. I think next quarter, we are going to see even more contribution debt. We are seeing more and more cloud only deals. So that was even more of an interesting dynamic kind of looking at all of these very large workload environment, some of the biggest users of workloads, biggest consumers of workloads in the world today are going to one to protect their environment. So that to us again, very interesting dynamic where we don’t necessarily have to be the endpoint provider to actually gain steam in your cloud environment and again, it just represents not only a greenfield opportunity, but at the same time a great gateway but again to get to then go back in and sell data solutions, endpoint solutions, IoT Solutions and everything else we have in the portfolio. So again, a very compelling opportunity and we are very excited about it. We got a dedicated salesforce for our cloud security right now. We are generating more and more cloud security, specific pipeline, so again we are taking it very seriously.

Alex Henderson

I want to come back to that. Just a reminder to people who are in the audience, some almost a 100 clients dialled into this. If you want to ask a question, please do. We do have a question that came in from the audience, so let me pass that over to you. So any potential for wealth effect and market focus on profitability affecting your spending intentions for the next year versus what you might have thought a few months ago. Your SPC is also 49% of revenue in last quarter, with negative 120% GAAP margin. Would there be any tipping point marked behaviour that would converge your hand to change your go-to-market investments.

Tomer Weingarten

I would say here necessarily, but we are seeing a very true. Right, I mean we want to make sure that we balanced the business and balanced growth with our back to profitability. One of the things that we want to make sure is that when you are in a market where there is obvious disruption and obvious market share gains to be had, we want to make sure that we prioritize locking in more and more of the market share. And that is one of the North Stars that we have. But with that, I mean yes, absolutely I mean when we look at the market, when we look at what we want to achieve you know we want to always balance the amount of investment that we have into how much we were actually marching towards our cash flow positive point or breakeven point in our profitability.

So to us, I think what you are going to see is do is really improve in all metrics. It will of course at some point come on the expense of growth. I think those two things come on kind of the same continuum, but at the same time I think there’s a lot of runway. I think we are balancing it the right way. I think we are trimming expenses as we continue and accelerate growth, that’s what we’ve demonstrated and we’re going to continue doing that into the future to the best of our ability. So all-in-all we really are staying very balanced in our view on how we spend versus the market opportunity. Dave, if there’s anything you’d like to add there.

Dave Bernhardt

No, I think you've covered it. I think this is something that we think about every day. So like you said, it wasn't, this isn't something that would be a big change for us. It's something that we're always thinking about. And we make that decision on every investment we make, whether it's a push for, enhance market share versus profitability. So we're constantly thinking about that.

Alex Henderson

Yes, I just wanted to chime in a little bit on my thoughts on that point. So you guys beat the last quarter by I think it was some 20 odd percent. It’s hard for me to believe there are one or two percent changes in interest rates is more valuable than that ability to crush the numbers. So I get it that people are very worried about discounted cash flows and all that sort of stuff and rising interest rate environment, but there are a few companies that are spectacular growth companies that I think can power through this headwind, and to the extent that you were to give back half of your growth to multiple compression and half of it to stock appreciation, you’ll have a very successful stock price. So I’m off for the growth, because this has got to be a very large market.

I wanted to go back to the Kubernetes discussion, clearly as we move more and more to cloud arena and get more and more involved with microservice based ship left type technologies, the coders become more important. And can you talk to what you are doing to reach coders. I think I was – had a conversation with the CEO of Cloudflare. He said the guys that gets the most coders wins and he’s adding 50,000 coders per portal. Now you guys are trying to do that, but the point is that coding community is critical. How do you reach them? How important is it to you and how do you tie it into your product line?

Tomer Weingarten

Yes, and to us it’s a predominantly IT infrastructure business, so there’s no question that when you look at our entire continuum, I mean developers are still not the one’s driving the overall production security decisions. They do have a say. And I think that when we think about designing our products, we also think about how to make some of the data also accessible to developers and to coders and we make sure that it’s incredibly friendly and can be used by coders. I wouldn’t by any straight to say that our go-to-market right now is one that’s designed to gain coders in mass. I think that’s something that comes further down the line. We’re very focussed on protecting production environments, and production environments are still kind of the hands of the IT security people. They are the one that are liable, they are the one that are in charge of protection, and they are the one that are in charge of compliance. And I think overtime, and differently as we progress more and more into our cloud go-to-market I think these pieces will fall, but it’s almost a complete different capability that speaks in cloud security to developers than the one that we are doing today, which is cloud workload protection, cloud workload is still very much and IT bound cell. So to us it’s really where the capabilities will go, will follow where they go to market. But right now, its’ still laser focussed on the IT infrastructure environment and sometime the CTO environment as well.

Alex Henderson

Shift gears a little bit, one of the questions I’m trying to ask every company I talk to is what are they seeing in terms of employee turnover, what are they seeing in terms of wage inflation? Because I think it’s a critical gauge of what’s going on in the economy. So not looking at say 2020 as much as comparing to 2019 which is pre-COVID how does your turnover look?

Tomer Weingarten

I think we might be an anomaly. I mean our turnover is incredibly low, much lower than industry standards. And a lot of it is the culture that we built. I think it’s quite intangible. But at the same time, I think just a very committed group of people in the company and they just, they are a great magnet for other people to join as well. So we are seeing we’re pretty one [ph] paced, we are not seeing people attrite -- I mean, we’ve been very very stable in our attrition rate which have been very very low. So I don’t think there’s any big changes there. I would say that yes, you are definitely seeing I think elevation and compensation. I think that the market is obviously getting more competitive. But with that, I also feel like the folks that you eventually want to join in are not the ones that will necessarily join just because of compensation. I think some of these folks are looking for a mission. They are looking for meaning, they are looking for wellness. They are looking for fulfilment, compensation they can get anywhere. So to us, it’s really about making sure that they got these other components. And I think that’s why our culture is very special.

Alex Henderson

So to some extent I have to say that you are not an anomaly in the sense that you are what I would describe as a destination company. And as a destination company, your ability to hire, your ability to retain obviously is going to be better than companies that are lower growth. I think this actually distinguishes between the real movers and shakers and the guys that are wannabes. I wanted to talk a little bit about the architecture of the company though. You are also a very distributed in the way you are staffed. So that gives you an advantage as well. Does it?

Tomer Weingarten

Absolutely. I’d put it as agility. I mean our ability to decide that we want to do something in specific territory where excess talent, where talent actually resides without any geographic boundaries has made us very very strong, very very nimble. We opened about four different RD sites globally. When we started and I started the company, there was one RD site in Israel. Today, there are four different sites. We got a site here in San Mateo, in Silicon Valley another one in Czech Republic. So we got amazing access to talent and we don’t try. We kind of super impose anyone specific site, or any one specific idea as to how we want to recruit and how we want to retain people. We are very open-minded and I think that again gives us just a lot of strength in accessing that talent that we want without the typical boundaries that people have when they try to recruit.

Alex Henderson

So, we've got three minutes left. What are the three key takeaways? You want people who are on this call to take away when they're thinking about SentinelOne over the next quarter year longer term?

Tomer Weingarten

I think first and foremost, we're incredibly responsible in the way that we that we use capital. So if there's any qualms around balancing growth, I think we're very much attuned to the market. So first and foremost, I want to say that if you look at our business, the opportunity, or the two opportunities that we're the most excited about are the cloud opportunity and the data analytics opportunities. Data analytics is a $40 billion TAM completely ripe for disruption and we got an exceptional offering there in the form of scalar and our XDR story, so there's a lot to be had there. And then when we look at cloud, I don't mean we just talked about it, just amazing traction that we're seeing right now. So to us I mean we want to make sure that people understand we are a platform company, we play in many different TAMs atleast four different TAMs, we are just an endpoint company. And endpoint is a big TAM in itself. But the overall opportunity size for the company is so immense and that’s what’s really fuelling our growth.

Alex Henderson

I would add to that the partnering scalability we are partnering the ability to do the incident response partner and the MSSPs really provides tremendous leverage to your business model.

Tomer Weingarten

Absolutely. If we had any [Indiscernible] on this call today, then he would rave all about it.

Alex Henderson

Well we’ll have to work on that. So my apologies for not using any other questions I sent over to you. But we are going to have to wrap it up here. And I really appreciate SentinelOne coming on and the some 100 clients that zoomed in. Break up guys, and congratulations on the superb year and execution. And with that, I want to thank the operators Rob Gerrai [ph] for helping us. Thanks all.

Tomer Weingarten

Thank you everyone.

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