SentinelOne forecast its first-quarter and annual revenue below Wall Street estimates on Wednesday, hurt by tough competition and softer enterprise spending due to economic uncertainty, sending its shares down 16% after the bell.

For the quarter that ended on Jan. 31, SentinelOne reported adjusted earning per share of four cents, up from a loss of two cents per share in the same quarter of the previous year, on revenue of $225.5 million, up 29% year-over-year. Both figures came in ahead of the one cent per share and revenue of $222.24 million expected by analysts.

Key Takeaways SentinelOne shares declined after the company's first-quarter and full-year revenue forecasts did not meet analysts' expectations.The cybersecurity company posted better than expected adjusted earnings and revenue in its fiscal fourth quarter.