SailPoint, Inc.
- Open
- 15.37
- Day high
- 15.37
- Day low
- 14.73
- Prev close
- 15.22
- Volume
- 410K
- Mkt cap
- $8.4B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.2
- P/S
- 7.5
- Yield
- —
- Per share
- —
SailPoint, Inc. (SAIL) is a Technology company listed on NASDAQ. The stock is down 26% over the past year.
SailPoint, Inc. (SAIL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SAIL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 9, 2026 | $0.04 | $0.05 | +15.5% | $280M | +1.6% |
| Mar 18, 2026 | $0.08 | $0.08 | -0.1% | $295M | +4.0% |
| Dec 9, 2025 | $0.06 | $0.08 | +33.3% | $282M | -3.7% |
| Sep 9, 2025 | $0.04 | $0.07 | +75.0% | — | — |
| Jun 11, 2025 | $-0.02 | $0.01 | +150.0% | $230M | +2.3% |
| Feb 16, 2025 | $-0.01 | $-0.75 | -7438.7% | $240M | — |
| Jan 31, 2024 | — | $-3.14 | — | $203M | — |
| May 5, 2022 | $-0.11 | $-0.09 | +18.2% | $115M | — |
| Feb 28, 2022 | $-0.06 | $0.09 | +250.0% | $136M | +19.3% |
| Feb 25, 2021 | — | $0.10 | — | $103M | — |
| Nov 5, 2020 | $-0.05 | $0.11 | +320.0% | $94M | +120.0% |
| Aug 6, 2020 | $0.03 | $0.15 | +494.8% | $92M | +275.0% |
SAIL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 31, 2022 | Summers Gradyofficer: EVP of Product | Tax | 745 | $63.17 |
| May 31, 2022 | Mills Mattofficer: President, Worldwide Field Ops | Tax | 816 | $63.17 |
| May 31, 2022 | Summers Gradyofficer: EVP of Product | Tax | 1,149 | $63.17 |
| May 31, 2022 | Summers Gradyofficer: EVP of Product | Tax | 6,171 | $63.17 |
| May 31, 2022 | Mills Mattofficer: President, Worldwide Field Ops | Tax | 1,548 | $63.17 |
| May 31, 2022 | Mills Mattofficer: President, Worldwide Field Ops | Tax | 966 | $63.17 |
| May 2, 2022 | Pflaging James Michaeldirector: | Grant | 3,220 | — |
| May 2, 2022 | Green Ronald Jdirector: | Grant | 3,220 | — |
| May 2, 2022 | Ramakrishna Sudhakardirector: | Grant | 3,220 | — |
| May 2, 2022 | Newell Traceydirector: | Grant | 3,220 | — |
| May 2, 2022 | Melin Heidi Mdirector: | Grant | 3,220 | — |
| May 2, 2022 | Sullivan Michael Jdirector: | Grant | 3,220 | — |
| May 2, 2022 | BOCK WILLIAM Gdirector: | Grant | 3,220 | — |
| Mar 16, 2022 | Schmitt Christopherofficer: General Counsel and Secretary | Option | 2,355 | — |
| Mar 16, 2022 | McClain Mark D.officer: CEO and President | Sell | 5,000 | $40.80 |
Source: SAIL SEC Form 4 filings, latest May 31, 2022. For informational purposes only — not investment advice.
See the full SAIL insider & 13F page →SailPoint, Inc. company profile
Overview
SailPoint Technologies Holdings, Inc. (NYSE:SAIL) is an Austin, Texas-based enterprise software company founded in 2005 that specializes in identity security and access management solutions. The company went public in 2017 and was acquired by private equity firm Thoma Bravo in 2022 for approximately $6.9 billion, taking it private. SailPoint returned to public markets in February 2025 through an initial public offering. The company serves enterprise customers globally across the Americas, Europe, the Middle East, Africa, and Asia-Pacific regions, providing critical infrastructure software that helps organizations manage and secure digital identities and access to sensitive data and applications.
Business
SailPoint operates in the identity and access management (IAM) sector within the broader cybersecurity and enterprise software industry. The company's core mission is to help organizations answer three fundamental questions about digital access: who has access to what, whether that access is appropriate, and what users are doing with their access privileges. The company offers two primary product platforms. Identity Security Cloud is SailPoint's flagship Software-as-a-Service (SaaS) solution that provides comprehensive identity governance and administration capabilities from the cloud. This platform enables organizations to manage user identities, automate access provisioning and deprovisioning, conduct access reviews and certifications, and monitor user behavior for potential security risks. IdentityIQ is the company's on-premises identity security solution that provides similar functionality but is deployed and managed within the customer's own data centers. These solutions address various types of digital identities within an enterprise environment, including employee identities (full-time workers, contractors, temporary staff), non-employee identities (partners, vendors, customers), and increasingly important machine identities (applications, services, and automated processes). The platforms integrate with hundreds of enterprise applications, databases, and systems to provide centralized visibility and control over who can access what resources across an organization's entire technology ecosystem. Identity governance has become critical as organizations undergo digital transformation and adopt cloud computing, where traditional network perimeters have dissolved and sensitive data is distributed across multiple platforms and locations. SailPoint's solutions help organizations comply with regulatory requirements, reduce security risks from excessive or inappropriate access privileges, and streamline IT operations through automation of routine access management tasks.
Revenue model
SailPoint generates revenue primarily through software licensing and subscription fees for its identity security platforms. The company operates on a recurring revenue model, with customers typically signing multi-year contracts for access to the Identity Security Cloud platform or perpetual licenses with annual maintenance fees for the on-premises IdentityIQ solution. The customer base consists of large and mid-market enterprises across various industries including financial services, healthcare, government, manufacturing, and technology companies. These organizations pay SailPoint based on the number of identities managed, the scope of applications integrated, and the specific modules and capabilities deployed. Professional services revenue is also generated through implementation, consulting, and training services to help customers deploy and optimize their identity security programs. Several factors influence SailPoint's profitability margins. Positive margin drivers include the company's transition toward cloud-based SaaS delivery, which provides more predictable recurring revenue and typically higher margins than on-premises software. The growing regulatory compliance requirements around data privacy and security (such as GDPR, SOX, and industry-specific regulations) create sustained demand for identity governance solutions. Additionally, the increasing adoption of cloud applications and remote work models expands the addressable market as organizations need to secure access across distributed environments. Margin pressures come from intense competition in the cybersecurity space, including both specialized identity management vendors and larger security platforms that offer identity capabilities as part of broader suites. The company faces ongoing research and development costs to keep pace with evolving security threats and integrate with new enterprise applications. Customer acquisition costs can be significant given the enterprise sales cycle and the need for technical expertise to demonstrate complex identity governance capabilities. Economic downturns may also pressure margins as organizations scrutinize IT spending and potentially delay or reduce identity security investments.
Competitive moat
SailPoint's competitive moat is moderate but meaningful, built primarily on several key factors. The company benefits from significant switching costs once customers implement identity governance solutions, as these systems become deeply integrated with an organization's core business applications, user directories, and security processes. Migrating to a different identity platform requires substantial time, resources, and risk, creating customer stickiness. The company has developed extensive integration capabilities with hundreds of enterprise applications, databases, and cloud services, representing years of engineering investment that competitors would need to replicate. This breadth of connectivity is particularly valuable as enterprises typically run complex, heterogeneous IT environments with legacy and modern systems that need unified identity management. SailPoint also possesses domain expertise and market knowledge accumulated over nearly two decades in the identity governance space. The company understands the nuanced compliance requirements across different industries and geographies, and has built specialized workflows and reporting capabilities that address specific regulatory needs. However, the moat faces several challenges. Competitive pressure is intensifying from both established players like Microsoft (which bundles identity capabilities with its Office 365 and Azure platforms) and newer cloud-native security vendors. Large technology companies with broader platforms may be able to offer identity management as part of integrated security suites, potentially commoditizing standalone identity solutions. Additionally, the rapid evolution of cloud computing and zero-trust security architectures creates opportunities for new entrants to build modern identity platforms without legacy technical constraints. The strength of SailPoint's moat ultimately depends on its ability to continue innovating and expanding its platform capabilities while maintaining the deep integrations and compliance expertise that make customer switching difficult.
Risks & safety
SailPoint's margin of safety appears concerning based on recent financial metrics, with several red flags that suggest elevated risk. **Cash Flow and Solvency Concerns:** - Negative free cash flow of -$120 million for FY 2024, representing a deterioration from -$255 million in FY 2023 - Operating cash flow of -$106 million in FY 2024, indicating the business is consuming cash to fund operations - Current ratio of 0.89, meaning current liabilities exceed current assets by approximately $62 million - Cash and short-term investments of $121 million provide limited runway given the current burn rate **Valuation Metrics:** - Trading at 63x EV/EBITDA for FY 2024, which is extremely high for a company with minimal EBITDA of $47 million - Negative price-to-earnings ratios due to consistent losses - Recent IPO pricing may not reflect underlying business fundamentals **Other Considerations:** - Total liabilities of $13 billion significantly exceed total assets of $7.4 billion, creating a large balance sheet deficit - Persistent losses with net income of -$316 million in FY 2024 - Revenue growth from $700 million to $862 million year-over-year shows business expansion, but profitability remains elusive
Recent development
Based on the available financial data, SailPoint has undergone significant corporate transitions in recent years. The company was taken private by Thoma Bravo in 2022 and has now returned to public markets through a February 2025 IPO, suggesting the private equity firm believes the business has been repositioned for growth. The financial results show a company in transition, with revenue growing from approximately $700 million in FY 2023 to $862 million in FY 2024, representing solid top-line growth of over 20%. However, the company continues to face profitability challenges, with significant operating losses and negative cash flow generation. The quarterly results show some improvement, with Q4 2024 generating positive EBITDA of $150 million and modest positive free cash flow of $12 million, suggesting potential inflection points in operational efficiency. The substantial balance sheet restructuring likely occurred during the private equity ownership period, with the current liability structure reflecting the financing arrangements used to take the company private and prepare it for the return to public markets. The company's focus appears to be on transitioning customers to its cloud-based Identity Security Cloud platform while maintaining its existing IdentityIQ customer base, a common strategy in enterprise software to improve recurring revenue predictability and margins.
SAIL company profile · for informational purposes only — not investment advice.
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