SentinelOne Inc at Goldman Sachs Communacopia & Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : So I want to move out from talking about the core competency on endpoint to understanding your strategy with AI and SIEM. And so maybe actually a great place to start is with the Observo acquisition from this morning. So maybe give it to us in one-on-one terms, how does Observo give you something that you didn't have before? And where does it fit in the AI strategy and the next gen SIEM stack?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : So maybe just crystallize this for us. With your pipeline or your migrations that you've done so far on AI SIEM, how long does this data pipeline process typically take without Observo and what is it now you sort of essentially set it overnight, it sounds like.

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : And how is it technically better than Cribl or in what ways is it technically better? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 08, 2025 / 8:45PM, S.N - SentinelOne Inc at Goldman Sachs Communacopia & Technology Conference

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : And Barbara, maybe I'll ask you the financial implications question. It seems like there is part one, which is how quickly can you ramp Observo, any commentary on revenue and margin today? And then the second derivative question is, well, what are the implications for your emerging products portfolio and the SIEM piece in particular? Or even the data piece too, it sounds like both those pieces move together?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : Max, over to you?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : So let's have a little bit of a discussion around go to market. And Barbara, I'd love to get your view on this as well. For the longest time, SentinelOne has just had this really solid reputation in core endpoint. And I think it's been a little bit of an evolution to become more a platform company, and now you're at the point where 50% of bookings are coming from emerging solutions. So maybe level set us, what do you think is working well in

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : And from a benchmarking standpoint, tell us a little bit more about how you go about that exercise? And what is the -- where are we in terms of -- how long till we get to the benchmark that you want to hit? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 08, 2025 / 8:45PM, S.N - SentinelOne Inc at Goldman Sachs Communacopia & Technology Conference

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : And actually, this is a question for both of you as well. There is a little bit of a question around scale in the security industry. You've got Microsoft talking about $4 billion in security R&D. You've got Palo Alto and CyberArk now combined, will be a bigger company. You've got CrowdStrike that will say that they outspend you on sales and marketing already. So it's a little bit of a question on how do you think about your ability to punch above your weight and deliver the type of net new ARR acceleration that you just put up in 2Q with a smaller OpEx budget. When we know that in security, winning is not just what the technology, you have to say. It's the investment you're making in the technology road map and the go-to-market. So a little bit of a question, how do you think about your relative scale versus some of these bigger competitors?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : Barbara, anything you are at here? I know you've been at companies of all sizes.

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : Let's pause for a moment. Questions from the audience. Max, do you want to hit on some of the financials?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : Tomer, I want to end on a technology question. How do you think about the balance between deterministic and nondeterministic in the security operations center, knowing how risk-averse security people are, how do you put enough guardrails and something like Purple. So that it's safe or accepted while also having it be useful?

Question: Gabriela Borges - Goldman Sachs Group Inc - Analyst : A great place to end. Tomer and Barbara, thank you for your time. Please join me in thanking the SentinelOne, Management Team.