Business
SailPoint Announces Third Quarter 2020 Financial Results
Third quarter 2020 total revenue of $94.0 million, up 24% year-over-year Third quarter 2020 subscription revenue of $51.0 million, up 36% year-over-year
About this update from Sailpoint, Inc.
[{"type":"text","content":"\n\nThird quarter 2020 total revenue of $94.0 million, up 24% year-over-year\n\n\nThird quarter 2020 subscription revenue of $51.0 million, up 36% 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 third quarter ended September 30, 2020.\n\n“We achieved impressive financial results in Q3, which were underpinned by solid execution across all geographies and strong momentum in our SaaS business as more enterprises continue to recognize and prioritize identity as a core IT investment area,” said Mark McClain, SailPoint CEO and co-founder.\n\n“Our results were driven by continued broad demand for a comprehensive identity security platform that both fully protects all business assets and securely enables today’s digital workforce and their access to the tools and technologies that fuel the cloud enterprise. As we look towards the close of 2020, we’re focused on building on our continued momentum to deliver innovative, differentiated enterprise-class SaaS identity solutions that protect and provision today’s digital workforce with confidence and at scale for enterprises worldwide.”\n\nFinancial Highlights for Third Quarter 2020:\n\n\nRevenue: Total revenue was $94.0 million, a 24% increase over Q3 2019. Subscription revenue was $51.0 million, a 36% increase over Q3 2019. License revenue was $30.9 million, a 15% increase from Q3 2019. Services and other revenue was $12.1 million, a 4% increase over Q3 2019.\n\n\n\nOperating Income: Income from operations was $1.0 million compared to $1.3 million in Q3 2019. Non-GAAP income from operations was $12.0 million compared to $9.0 million in Q3 2019.\n\n\n\nNet Income (Loss): Net loss was $(0.7) million compared to net income of $3.7 million in Q3 2019. Net loss per diluted share was $(0.01) compared to net income per diluted share of $0.04 in Q3 2019. Non-GAAP net income was $10.1 million compared to $6.8 million in Q3 2019. Non-GAAP net income per diluted share was $0.11 compared to $0.07 in Q3 2019.\n\n\nThe tables included in this press release present a reconciliation of non-GAAP income from operations to GAAP income (loss) from operations, non-GAAP net income to GAAP net income (loss) and non-GAAP to GAAP weighted average outstanding shares, each...