SailPoint, Inc. reported significant financial results for the three months ended April 30, 2026, with total revenue reaching $280.1 million, a 22% increase from $230.5 million in the same period last year. Subscription revenue, which constitutes the majority of the company's income, rose by 23% to $265.8 million, driven primarily by a 35% increase in Software as a Service (SaaS) revenue. The company recorded a net loss of $74.7 million, an improvement from a net loss of $187.3 million in the prior year, resulting in a net loss per share of $0.13 compared to $0.42.
In terms of operational metrics, SailPoint's customer base expanded to approximately 3,250, up from 3,040 a year earlier. Notably, the number of customers generating over $250,000 in annual recurring revenue (ARR) increased by 24%, while those exceeding $1 million in ARR grew by 32%. The company's ARR reached $1.16 billion, a 26% increase year-over-year, with SaaS ARR accounting for 67% of total ARR, up from 62% in the previous year. The dollar-based net retention rate slightly decreased to 113% from 115%, indicating stable customer retention and expansion.
SailPoint has also made strategic advancements, including the launch of its new solution, SailPoint Agentic Fabric, aimed at managing non-human identities and AI agents, which are becoming increasingly prevalent in enterprise environments. This product is expected to enhance the company's market position and capitalize on the growing demand for identity security solutions. Additionally, the company continues to invest in its sales and marketing efforts to deepen its penetration in international markets, with 64% of revenue generated from the U.S., 22% from EMEA, and 14% from the rest of the world.
The company reported a gross profit of $181.1 million, reflecting a gross margin of 65%, up from 55% in the prior year. Operating expenses decreased significantly to $260.9 million from $312.6 million, primarily due to reduced equity-based compensation expenses following the completion of the IPO. Cash flow from operations was positive at $38.2 million, a notable turnaround from the negative cash flow of $96.8 million in the same quarter last year. As of April 30, 2026, SailPoint had cash and cash equivalents of $390.8 million, positioning the company well for future growth and investment opportunities.
Looking ahead, SailPoint remains focused on expanding its product offerings and customer base while navigating the evolving landscape of identity security. The company anticipates continued growth in ARR and SaaS revenue, supported by its strategic initiatives and the increasing demand for comprehensive identity management solutions.
About SailPoint, Inc.
SailPoint, Inc. provides enterprise identity security solutions that unify and manage digital identities across complex IT environments. Its SaaS and on-premises offerings leverage AI and analytics to enhance visibility, automate access policies, and ensure regulatory compliance. Serving large organizations worldwide, SailPoint focuses on identity governance, risk management, and cloud infrastructure security to protect against cyber threats and identity sprawl.
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