Business
SailPoint Announces First Quarter 2020 Financial Results
First quarter 2020 total revenue of $75.4 million, up 25% year-over-year First quarter 2020 subscription revenue of $43.9 million, up 38% year-over-year
About this update from Sailpoint, Inc.
[{"type":"text","content":"\n\nFirst quarter 2020 total revenue of $75.4 million, up 25% year-over-year\n\n\nFirst quarter 2020 subscription revenue of $43.9 million, up 38% year-over-year\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nSailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader in enterprise identity governance, today announced financial results for the first quarter ended March 31, 2020.\n\n\n“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.\n\n\n“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.”\n\n\nFinancial Highlights for First Quarter 2020:\n\n\n\nRevenue: Total revenue was $75.4 million, a 25% increase over Q1 2019. Subscription revenue was $43.9 million, a 38% increase over Q1 2019. License revenue was $21.0 million, a 13% increase from Q1 2019. Services and other revenue was $10.6 million, a 5% increase over Q1 2019.\n\n\n\n\nOperating Income (Loss): Loss from operations was $(5.3) million compared to $(6.7) million in Q1 2019. Non-GAAP income from operations was $4.4 million compared to $0.5 million in Q1 2019.\n\n\n\n\nNet Income (Loss): Net loss was $(8.4) million, consistent with Q1 2019. Net loss available to common stockholders per diluted share was $(0.09) compared to $(0.10) in Q1 2019. Non-GAAP net income was $4.1 million compared to non-GAAP net loss of $(0.3) million in Q1 2019. Non-GAAP net income per diluted share was $0.04 compared to non-GAAP net loss per diluted share of $— in Q1 2019.\n\n\n\nThe tables included in this press release present a reconciliation of non-GAAP income from operations to GAAP loss from operations, non-GAAP net income (loss) to GAAP net loss and non-GAAP to GAAP weighted average outstanding common shares for the three months ended March 31, 2020 and 2019. An explanation o...