실적분석 2026년 8월 27일

SentinelOne ($S) FY2027 Q2 Earnings Analysis — Revenue and Adjusted EPS Beat Expectations, Full-Year Guidance Raised, Shares Weak After-Hours

Earnings Scorecard

Revenue: $292 million (+21% year-over-year, consensus $290 million) ✅ Beat

EPS: $0.08 on an adjusted basis (consensus $0.07) ✅ Beat

Guidance: Raised — FY2027 revenue $1.202–$1.207 billion, adjusted EPS $0.30–$0.32 (Q3 revenue $309–$311 million)

Stock reaction: After-hours -3.65% ($21.88) — as of 06:10 Korea time, 08-28

The Positives

Revenue beat: $292 million edged past the $290 million consensus, +21% year-over-year

Adjusted profitability improved: Adjusted operating margin 10% (vs. 2% a year earlier), adjusted EPS $0.08

Full-year guidance raised: Lifted revenue and adjusted operating income guidance

Growth in the core cybersecurity software business and an improvement in adjusted profitability came through in the same quarter. Customers contributing more than $100,000 in annual recurring revenue also grew to 1,715, pointing to continued platform penetration.

The Negatives

Gross margin contraction: Adjusted gross margin 77% (vs. 79% a year earlier); GAAP gross margin also slipped to 72%

GAAP loss: Diluted EPS -$0.27; net loss attributable to common stockholders of $93.4 million

Quarterly cash flow: Free cash flow of -$13.24 million, with the deficit widening from a year earlier

On a GAAP basis the company remains unprofitable, and restructuring charges of $24.43 million in the quarter weighed on the P&L. Margin pressure and the quarterly cash outflow appear to be what cooled market sentiment despite the headline beat.

What Management Said

The CEO emphasized that AI-driven runtime protection is core to the Singularity platform architecture, and that the company is positioned to lead the AI cybersecurity market. The CFO noted the company beat across all revenue and profit guidance metrics and delivered record profitability, adding that it will pursue disciplined expansion alongside investment in AI growth opportunities.

Market Reaction and What to Watch Next

With the stock already up sharply the day before the print, a modest beat and an in-line guidance raise were not enough to prevent profit-taking, while the gross margin and quarterly cash flow weakness provided a selling catalyst.

Whether Q3 revenue lands within the company's $309–$311 million range

Whether adjusted gross margin slips further below 77% or stabilizes

Whether free cash flow returns to positive territory