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Sailpoint Technologies Holdings, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2022 10-Q, filed Aug 9, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells identity-security software to large enterprises, financial institutions and governments to manage human and software identities and secure access to applications, data and technology systems.

How Did They Make Money?

Customers pay for software licenses, cloud access and support subscriptions, and setup or training services. License fees are earned when software is delivered; subscription fees are billed in advance and due at the start of the term, while service fees are earned as the work is performed.

FY2021 revenue

Who Were Their Customers?

Large enterprises, financial institutions and governments buy directly from SailPoint’s sales team or through system integrators, technology partners and resellers.

Did Revenues Turn Into Profits?

No. It lost $61.6M in FY2021.

Operating income, FY2021
−13% of revenue
▼ Now a loss vs FY2020 ($877K, 0%)
Net income, FY2021
−14% of revenue
▲ +473% (Loss) vs FY2020 (−$10.8M, −3%)
Free cash flow, FY2021
−1% of revenue
▼ Now a loss vs FY2020 ($54M, 15%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q2 FY2022, the three months to Jun 30, 2022
Revenue
▲ +31%
vs $102.5M in Q2 FY2021
Net income
▲ +75% (Loss)
vs −$16.7M in Q2 FY2021
  • Aug 16, 2022 Thoma Bravo completed its acquisition of SailPoint, and its shares were delisted.

Grew. Revenue grew 2.4x in 4 years, from $186.1M in FY2017 to $439M in FY2021, about 24% a year.

From governance to security The older report presents the platform as identity governance software for governing user access; the latest describes an identity-security platform focused on securing human and non-human identities and their access.

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