SailPoint Technologies Holdings, Inc. (SAIL) Tops Q1 EPS by 7c, Revenues Beat; Withdraws FY20 Guidance

SailPoint Technologies Holdings, Inc. (NYSE: SAIL) reported Q1 EPS of $0.04, $0.07 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $75.4 million versus the consensus estimate of $69.19 million.

“We are collectively facing a particularly difficult time in the world as a result of the COVID-19 pandemic. Despite these challenges, SailPoint delivered solid Q1 results by meeting the needs of our customers and by exceeding our revenue expectations,” said Mark McClain, SailPoint CEO and Co-founder.

“As our customers have shifted to a virtual workforce, the value and scalability of our identity platform has become even more evident as enterprises strive for secure workforce continuity throughout this pandemic. While near-term results remain uncertain due to the pandemic, we believe that recent events have increased the importance of identity governance as a critical component of enterprises’ digital transformation efforts.”

Financial Outlook:

“While we were pleased with our Q1 results and have experienced a strong start to the second quarter, the duration and economic impact of COVID-19 is still unknown and can potentially lead to a wide range of outcomes for us,” said Jason Ream, Chief Financial Officer. “Given the high level of macro uncertainty, we are not providing guidance for the second quarter and withdrawing our previously issued guidance for the full year. We will reassess this position after the second quarter.”

For earnings history and earnings-related data on SailPoint Technologies Holdings, Inc. (SAIL) click here.

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