10-Q · June 10, 2026
SailPoint, Inc. reported robust Q1 2027 results with revenue reaching $280.14 million, exceeding the estimate of $276.12 million and displaying a year-over-year growth of 22%. The company also achieved a positive EPS of…
Earnings analysis · 10-Q
SAIL earnings analysis
Filed September 10, 2026 · Our reading of the company's report
The latest report
SailPoint delivered a mixed fiscal Q2: revenue was $308.813 million, modestly below the $310.287 million consensus estimate, while adjusted EPS of $0.09 exceeded the $0.08 estimate. ARR grew 25% year over year to $1.231…
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SailPoint delivered a mixed fiscal Q2: revenue was $308.813 million, modestly below the $310.287 million consensus estimate, while adjusted EPS of $0.09 exceeded the $0.08 estimate. ARR grew 25% year over year to $1.231 billion and free cash flow was positive at $37.409 million. The company provided Q3 and full-year fiscal 2027 outlook ranges, but the filing did not indicate a change versus the prior outlook. Risk factors were unchanged from the fiscal 2026 Form 10-K, while Entro-related share issuances and planned insider sales introduce incremental dilution and supply considerations.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.09
What stood out
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EPS Beat Offset a Modest Revenue Miss
Revenue was $308.813 million, approximately $1.474 million below the $310.287 million consensus estimate, while adjusted EPS was $0.09 versus the $0.08 estimate.
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ARR Growth Remained Strong
ARR increased 25% year over year to $1.231 billion, indicating continued strength in the recurring-revenue base despite the quarterly revenue miss.
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Positive Free Cash Flow
Free cash flow was positive at $37.409 million for the quarter, supporting liquidity and the company’s longer-term cash-generation objectives.
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Quantitative Outlook Was Reiterated
Management’s Q3 fiscal 2027 outlook calls for revenue of $326 million-$330 million and adjusted EPS of $0.07-$0.08; full-year revenue guidance was $1.265 billion-$1.275 billion and adjusted EPS guidance was $0.30-$0.34.
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IPO Proceeds Strengthened Liquidity
The company reported net IPO proceeds of approximately $1.2 billion and stated that it repaid the Term Loans in full, materially strengthening its funding position.
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Controls Remained Effective
Disclosure controls were concluded to be effective as of July 31, 2026, and the company reported no changes in internal control that materially affected, or were reasonably likely to materially affect, reporting.
What to watch
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Entro-Related Share Dilution
The company issued 160,670 restricted shares with an aggregate value of approximately $2.4 million to Entro employees and former shareholders, with additional issuances of approximately $2.4 million scheduled for June 29, 2027 and June 29, 2028, creating potential dilution and retention-related obligations.
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Planned Insider Share Sales
The CFO adopted a Rule 10b5-1 arrangement permitting the sale of up to 240,000 shares through September 15, 2027, which could add selling pressure to the stock.
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Foreign-Currency Exposure Unchanged
The company remains exposed primarily to foreign-currency risk; the filing states there were no material changes in market-risk exposure for the six months ended July 31, 2026 versus fiscal 2026, so this risk remains present rather than eliminated.
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No Material Risk-Factor Improvement
The 10-Q states there were no material changes to the risk factors in the fiscal 2026 Form 10-K, limiting evidence of risk-factor improvement despite the quarter’s $37.409 million of positive free cash flow.
Management's outlook
The filing discusses Q3 fiscal 2027 guidance of $326 million-$330 million of revenue and adjusted EPS of $0.07-$0.08, but does not disclose whether the outlook was raised, maintained, or lowered versus the prior outlook. Full-year fiscal 2027 guidance was $1.265 billion-$1.275 billion of revenue and adjusted EPS of $0.30-$0.34; fiscal 2029 targets were at least $2.1 billion of ARR and at least $400 million of free cash flow.
Earlier filings 3
10-Q · September 10, 2025
SailPoint reported quarterly revenue of $264,359,000, up from $198,575,000 a year earlier, with gross profit of $177,806,000 (67.3% margin) and an operating loss of $40,798,000 (-15.4% op margin). The company generated…
10-Q · June 12, 2025
SailPoint reported Q1 (three months ended April 30, 2025) revenue of $230.468M, up $42.812M (22.8%) versus $187.656M a year ago, led by subscription growth. Gross profit rose to $127.655M but gross margin compressed to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.