SentinelOne, Inc. experienced a significant after-hours plunge of 17.04% on Thursday following the release of its fiscal first-quarter financial results and a company restructuring announcement.

The cybersecurity company reported Q1 revenue of $277 million, which slightly missed the consensus estimate of $277.3 million. While adjusted EPS of $0.04 beat expectations, investors focused on weaker-than-expected forward guidance, with Q2 revenue projected between $289-291 million, below the $292 million analyst estimate. The company also reported a concerning decline in operating cash flow margin, which nearly halved compared to the prior year.

Compounding the negative sentiment, SentinelOne announced a restructuring plan to focus on AI, data, cloud, and endpoint security, which includes reducing its full-time workforce by approximately 8%. The company expects to incur a one-time charge of about $25 million related to the restructuring. This combination of a revenue miss, tepid guidance, and significant organizational changes drove the sharp sell-off in post-market trading.