SailPoint Posts Strong Revenue Growth

By Chris Stiles • Tuesday, June 09 12:22 • Permanent Link

SailPoint said fiscal first-quarter revenue rose 22% from a year earlier to $280 million, while subscription revenue increased 23% to $266 million.

Annual recurring revenue climbed 26% to $1.163 billion, with SaaS ARR up 36% to $781 million.

The company also narrowed its operating loss sharply. GAAP operating loss improved to $80 million from $185 million a year ago. As a share of revenue, that was a reduction to 28% from 80%.

Adjusted income from operations increased to $38 million from $24 million, and the margin widened to 14% from 10%.

Cash generation was also positive in the quarter, with cash flow from operations at $38 million and free cash flow at $33 million.

For the second quarter, SailPoint guided to revenue of $308 million to $312 million and total ARR of $1.218 billion to $1.222 billion. For the full fiscal year, it projected revenue of $1.265 billion to $1.275 billion and total ARR of $1.364 billion to $1.374 billion. As a result of these announcements, the company's shares have moved -8.9% on the market, and are now trading at a price of $16.115. If you want to know more, read the company's complete 8-K report here.

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