SailPoint Technologies Holdings, Inc. (SAIL) Tops Q3 EPS by 16c, Revenues Beat; Offers 4Q & FY20 EPS/Revenue Guidance Above Consensus

SailPoint Technologies Holdings, Inc. (NYSE: SAIL) reported Q3 EPS of $0.11, $0.16 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $94 million versus the consensus estimate of $83.61 million.

Financial Highlights for Third Quarter 2020:

• Revenue: Total revenue was $94.0 million, a 24% increase over Q3 2019. Subscription revenue was $51.0 million, a 36% increase over Q3 2019. License revenue was $30.9 million, a 15% increase from Q3 2019. Services and other revenue was $12.1 million, a 4% increase over Q3 2019.
• Operating Income: Income from operations was $1.0 million compared to $1.3 million in Q3 2019. Non-GAAP income from operations was $12.0 million compared to $9.0 million in Q3 2019.
• Net Income (Loss): Net loss was $(0.7) million compared to net income of $3.7 million in Q3 2019. Net loss per diluted share was $(0.01) compared to net income per diluted share of $0.04 in Q3 2019. Non-GAAP net income was $10.1 million compared to $6.8 million in Q3 2019. Non-GAAP net income per diluted share was $0.11 compared to $0.07 in Q3 2019.

“We achieved impressive financial results in Q3, which were underpinned by solid execution across all geographies and strong momentum in our SaaS business as more enterprises continue to recognize and prioritize identity as a core IT investment area,” said Mark McClain, SailPoint CEO and co-founder.

“Our results were driven by continued broad demand for a comprehensive identity security platform that both fully protects all business assets and securely enables today’s digital workforce and their access to the tools and technologies that fuel the cloud enterprise. As we look towards the close of 2020, we’re focused on building on our continued momentum to deliver innovative, differentiated enterprise-class SaaS identity solutions that protect and provision today’s digital workforce with confidence and at scale for enterprises worldwide.”

GUIDANCE:

SailPoint Technologies Holdings, Inc. sees Q4 2020 EPS of ($0.02)-($0.01), versus the consensus of ($0.04). SailPoint Technologies Holdings, Inc. sees Q4 2020 revenue of $93-95 million, versus the consensus of $92.47 million.

SailPoint Technologies Holdings, Inc. sees FY2020 EPS of $0.27-$0.29, versus the consensus of $0.11. SailPoint Technologies Holdings, Inc. sees FY2020 revenue of $355-357 million, versus the consensus of $344.52 million.

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

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