Business
SailPoint Announces Second Quarter 2021 Financial Results
Total ARR of $291.3 million, up 43% year-over-year Second quarter 2021 subscription revenue of $64.4 million, up 40% year-over-year Second quarter 2021 total
About this update from Sailpoint, Inc.
[{"type":"text","content":"\n\nTotal ARR of $291.3 million, up 43% year-over-year\n\n\nSecond quarter 2021 subscription revenue of $64.4 million, up 40% year-over-year\n\n\nSecond quarter 2021 total revenue of $102.5 million, up 11% year-over-year\n\n\n \n\n AUSTIN, Texas--(BUSINESS WIRE)--\nSailPoint Technologies Holdings, Inc. (NYSE: SAIL) (“SailPoint”), the leader in identity security for the cloud enterprise, today announced financial results for the second quarter ended June 30, 2021.\n\n“SailPoint finished another strong quarter, exceeding prior revenue and ARR guidance with Total ARR up 43% year-over-year. The outperformance this quarter was driven by our team’s relentless focus on customer satisfaction and the demonstrated value our identity security platform has on addressing the sophisticated needs of the modern enterprise,” said Mark McClain, SailPoint CEO and Founder.\n\n“The business continues to benefit from solid execution and continued interest from global enterprises who increasingly recognize the foundational role identity security plays in securing their business. Heading into the second half of 2021, we are well-positioned with a strong team and a clear vision for identity security as we look to help more global companies create an enterprise security program that is grounded in identity security.”\n\nFinancial Highlights for Second Quarter 2021:\n\n\nARR: Total ARR at June 30, 2021 was $291.3 million, a 43% increase year-over-year.\n\n\nRevenue: Total revenue was $102.5 million, an 11% increase over Q2 2020. Subscription revenue was $64.4 million, a 40% increase over Q2 2020, of which SaaS revenue was $25.4 million, a 66% increase over Q2 2020.\n\n\nOperating Income (Loss): Loss from operations was $(17.0) million compared to income from operations of $8.1 million in Q2 2020. Non-GAAP income from operations was $0.8 million compared to $18.4 million in Q2 2020.\n\n\nNet Income (Loss): Net loss was $(16.7) million compared to net income of $3.0 million in Q2 2020. Net loss per diluted share was $(0.18) compared to net income per diluted share of $0.03 in Q2 2020. Non-GAAP net income was $0.1 million compared to $13.8 million in Q2 2020. Non-GAAP net income per diluted share was $0.00 compared to $0.15 in Q2 2020.\n\n\n“While our transition to SaaS and subscription creates revenue headwinds, we are pleased to exceed the high end of our ...