SAIL

MKT CAP:$7B

SailPoint, Inc.

Market Cap

$7B

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$11.89-$7.06 (-37.24%)

Apr 24, 2026

Company Details

SailPoint, Inc. provides solutions to enable various identity security for the enterprise in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its solutions address various types of systems and identities, including data ...

CEO

Mark D. McClain

IPO Date

Feb 13, 2025

Website

www.sailpoint.com

Key Metrics TTM

Revenue

$1.0B

+59.1% YoY

Net Income

-$293M

EPS (Diluted)

-$0.91

Free Cash Flow

-$22M

Revenue / Share

$1.82

Gross Margin

64.2%

Operating Margin

-28.8%

Net Margin

-29.0%

FCF Margin

-2.2%

P/S

6.7x

P/E

—

Earnings Reports

Q3 2026

Oct 31, 2025

$282M+19.8%EPS -$0.06

Q2 2026

Jul 31, 2025

$264M+33.1%EPS -$0.02

Q1 2026

Apr 30, 2025

$230M+22.8%EPS -$0.42

FY 2025

Jan 31, 2025

$862M+23.2%EPS -$1.98

Q3 2025

Oct 31, 2024

$235MEPS -$0.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$75M	$57M	-$5M
Q2 21	$92M	$74M	$8M
Q3 21	$94M	$73M	$962.0K
Q4 21	$103M	$75M	-$3M
Q1 22	$91M	$66M	-$16M
Q2 22	$102M	$75M	-$17M
Q3 22	$110M	$79M	-$19M
Q4 22	$147M	$114M	-$9M
Q1 23	$115M	$80M	-$31M
Q2 23	$134M	$95M	-$27M
Q1 25	$188M	$115M	-$68M
Q2 25	$199M	$123M	-$66M
Q3 25	$235M	$157M	-$24M
Q1 26	$230M	$128M	-$185M
Q2 26	$264M	$178M	-$41M
Q3 26	$282M	$187M	-$42M

Valuation

Quarter	P/S	P/E
Q1 21	38.5x	—
Q2 21	35.1x	3145.4x
Q3 21	33.3x	—
Q4 21	32.0x	—
Q1 22	30.7x	—
Q2 22	29.9x	—
Q3 22	28.7x	—
Q4 22	25.9x	—
Q1 23	24.6x	—
Q2 23	23.1x	—
Q1 25	20.0x	—
Q2 25	18.4x	—
Q3 25	15.4x	—
Q1 26	10.0x	—
Q2 26	11.0x	—
Q3 26	10.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$16M	$16M
Q2 21	$6M	$5M
Q3 21	$12M	$11M
Q4 21	$24M	$22M
Q1 22	-$12M	-$13M
Q2 22	-$12M	-$14M
Q3 22	$14M	$13M
Q4 22	$10M	$9M
Q1 23	-$21M	-$21M
Q2 23	-$16M	-$18M
Q1 25	-$55M	-$58M
Q2 25	-$53M	-$57M
Q3 25	-$12M	-$17M
Q1 26	-$97M	-$101M
Q2 26	$50M	$46M
Q3 26	$54M	$49M

Capital Expenditures

Quarter	CapEx
Q1 21	$239.0K
Q2 21	$1M
Q3 21	$1M
Q4 21	$2M
Q1 22	$858.0K
Q2 22	$1M
Q3 22	$932.0K
Q4 22	$1M
Q1 23	$749.0K
Q2 23	$3M
Q1 25	$3M
Q2 25	$4M
Q3 25	$5M
Q1 26	$4M
Q2 26	$4M
Q3 26	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+24.5%	+20.0%
Q2 21	+46.6%	+15.4%
Q3 21	+23.9%	+24.8%
Q4 21	+16.1%	+27.9%
Q1 22	+20.3%	+31.7%
Q2 22	+10.8%	+41.6%
Q3 22	+17.1%	+38.4%
Q4 22	+41.9%	+46.6%
Q1 23	+27.2%	+37.2%
Q2 23	+31.0%	+34.8%
Q1 25	+70.4%	+98.6%
Q2 25	+35.4%	+69.8%
Q3 25	+103.8%	+78.0%
Q1 26	+71.6%	+157.9%
Q2 26	+40.9%	+19.3%
Q3 26	+42.0%	+22.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$6M	8.2%
Q2 21	$7M	7.7%
Q3 21	$8M	8.3%
Q4 21	$8M	7.6%
Q1 22	$10M	11.1%
Q2 22	$13M	12.6%
Q3 22	$14M	13.1%
Q4 22	$14M	9.8%
Q1 23	$16M	13.7%
Q2 23	$18M	13.5%
Q1 25	$8M	4.2%
Q2 25	$8M	4.2%
Q3 25	$8M	3.3%
Q1 26	$106M	45.9%
Q2 26	$48M	18.3%
Q3 26	$49M	17.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 21	$16M	$10M	$37M
Q2 21	$18M	$9M	$39M
Q3 21	$19M	$9M	$44M
Q4 21	$18M	$10M	$50M
Q1 22	$20M	$11M	$51M
Q2 22	$23M	$10M	$58M
Q3 22	$27M	$12M	$59M
Q4 22	$50M	$29M	$45M
Q1 23	$31M	$14M	$66M
Q2 23	$33M	$13M	$75M
Q1 25	$42M	$27M	$115M
Q2 25	$43M	$26M	$120M
Q3 25	$39M	$27M	$116M
Q1 26	$67M	$81M	$165M
Q2 26	$48M	$39M	$131M
Q3 26	$51M	$39M	$138M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 21	24.5%	0.3%	24.8
Q2 21	46.6%	13.7%	60.4
Q3 21	23.9%	6.5%	30.4
Q4 21	16.1%	2.1%	18.2
Q1 22	20.3%	-11.7%	8.6
Q2 22	10.8%	-10.8%	0.1
Q3 22	17.1%	-10.9%	6.2
Q4 22	41.9%	-2.7%	39.3
Q1 23	27.2%	-26.4%	0.7
Q2 23	31.0%	-20.0%	11.1
Q1 25	70.4%	-0.8%	69.7
Q2 25	35.4%	0.1%	35.5
Q3 25	103.8%	12.2%	116.0
Q1 26	71.6%	-56.3%	15.3
Q2 26	40.9%	4.7%	45.5
Q3 26	42.0%	4.4%	46.3

Rule of 40

Revenue Segments

Quarter	License	Maintenance	Technology Service	Subscription
Q1 21	$21M	$44M	$11M	—
Q2 21	$35M	$46M	$12M	—
Q3 21	$31M	$51M	$12M	—
Q1 22	$19M	—	$12M	$59M
Q2 22	$24M	—	$14M	$64M
Q3 22	$26M	—	$13M	$71M
Q1 23	$15M	—	$15M	$86M
Q2 23	$26M	—	$16M	$92M

Revenue by Geography

Quarter	Emea	Rest Of The World	United States
Q1 21	$14M	$7M	$54M
Q2 21	$13M	$10M	$69M
Q3 21	$16M	$10M	$68M
Q4 21	$19M	$12M	$72M
Q1 22	$15M	$10M	$65M
Q2 22	$19M	$13M	$70M
Q3 22	$17M	$14M	$79M
Q1 23	$23M	$16M	$77M
Q2 23	$24M	$13M	$97M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 21	$461M	$0	$461M
Q2 21	$471M	$0	$471M
Q3 21	$484M	$0	$484M
Q4 21	$510M	$0	$510M
Q1 22	$416M	$0	$416M
Q2 22	$408M	$0	$408M
Q3 22	$422M	$0	$422M
Q4 22	$435M	$0	$435M
Q1 23	$415M	$0	$415M
Q2 23	$402M	$0	$402M
Q4 24	$212M	$0	$212M
Q3 25	$568M	$0	$568M
Q4 25	$121M	$0	$121M
Q1 26	$228M	$0	$228M
Q2 26	$271M	$0	$271M
Q3 26	$298M	$0	$298M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	90M	-1.3%	+1.8%
Q2 21	92M	+1.9%	+3.2%
Q3 21	91M	-0.9%	-0.0%
Q4 21	91M	+0.4%	+0.1%
Q1 22	92M	+0.7%	+2.0%
Q2 22	92M	+0.9%	+0.9%
Q3 22	93M	+0.6%	+2.5%
Q4 22	94M	+0.7%	+2.9%
Q1 23	94M	+0.3%	+2.5%
Q2 23	94M	+0.6%	+2.2%
Q1 25	182M	+93.1%	+96.0%
Q2 25	545M	+198.9%	+481.8%
Q3 25	545M	0.0%	+480.3%
Q1 26	500M	-8.3%	+429.3%
Q2 26	556M	+11.1%	+204.7%
Q3 26	558M	+0.3%	+2.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$64.6K	1K
Q2 21	$79.2K	1K
Q3 21	$80.5K	1K
Q4 21	$74.1K	1K
Q1 22	$65.1K	1K
Q2 22	$73.5K	1K
Q3 22	$79.0K	1K
Q4 22	$87.5K	2K
Q1 23	$68.9K	2K
Q2 23	$80.1K	2K
Q1 25	$112.0K	2K
Q2 25	$118.5K	2K
Q3 25	$140.4K	2K
Q1 26	$137.5K	2K
Q2 26	$157.7K	2K
Q3 26	$168.2K	2K

Revenue / Employee