Slide 1: Fiscal Q4'25 & FY'25 Earnings Presentation
Fiscal Q4’25 & FY’25 Earnings Presentation March 2025
Slide 2: Important notice and disclaimers
Important notice and disclaimers Forward-Looking Statements This presentation of SailPoint, Inc. (the “Company” or “SailPoint”) contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this presentation are f
Slide 3: The core of enterprise security is identity
The core of enterprise security is identity Significant Rapid recurring top line scale revenue growth $877MM 29% ARR Growth YoY (2) ARR (1)(4) $862MM 39% FY’25 Revenue SaaS ARR Growth YoY (2) Manage and secure dynamic access Strong customer Expanding retention margin profile to critical applications
Slide 4: Explosion in number and types of identities
Explosion in number and types of identities leading to significant complexity for the modern enterprise… AI Agents Number of Identities Machine Identities Non-Employee Identities Employee Identities Time © 2025 SailPoint Technologies, Inc. All rights reserved. 4
Slide 5: Increasing volume of data and applications
…and compounded by the increasing volume of data and applications… Modern enterprise Employee, non-employee, & machine identities © 2025 SailPoint Technologies, Inc. All rights reserved. 5
Slide 6: Significant risk to today's enterprise IT environments
…introducing significant risk to today’s enterprise IT environments In the absence of a robust identity security posture, threat actors can move laterally throughout an organization Modern enterprise 90% of organizations surveyed experienced an identity- related breach in 2023(1) Employee, Initial &
Slide 7: The identity security imperative
The identity security imperative It's time to look It's time to harness It's time to put inside-out, not just the power of data identity at the center outside-in and AI of enterprise security © 2025 SailPoint Technologies, Inc. All rights reserved. 7
Slide 8: SailPoint is a leader in identity security
SailPoint is a leader in identity security Comprehensive Unified, intelligent, Advanced identity solutions extensible platform analytics and AI © 2025 SailPoint Technologies, Inc. All rights reserved. 8
Slide 9: Expanding market opportunity with long-term tailwinds
Expanding market opportunity with long-term tailwinds Privileged Task Product Automation adoption Expansive identity & platform security market Machine expansion opportunity Identity Security Global Average ARR organizations (1) per customer for each segment (2,3) Growth in number & $55Bn types of i
Slide 10: Strategically positioned to win the new identity security paradigm
SailPoint is strategically positioned to win the new identity security paradigm Access Lacks security depth Privilege Limited view of the enterprise ing Data M Our Competitive Advantage nd oa pa Ex t Broad and deep offering Global strategic partnerships y Co r it m re cu e p he y S Proven enterprise
Slide 11: Our comprehensive, extensible, identity-first, security platform
Our comprehensive, extensible, identity-first, security platform © 2025 SailPoint Technologies, Inc. All rights reserved. 11
Slide 12: Excellence & leadership recognized
Excellence & leadership recognized 2024 Leader in Leadership 2024 Leader in Identity A 2024 Gartner® Peer Insights A 2024 Leader in KuppingerCole A 2024 Leader in Identity Compass on Identity Governance Governance & Administration Customers' Choice for Identity Leadership Compass on Identity Governa
Slide 13: Our values: The four I's
Our values: The four I’s © 2025 SailPoint Technologies, Inc. All rights reserved. 13
Slide 14: Fiscal Q4'25 & FY'25 Financial Summary
Fiscal Q4’25 & FY’25 Financial Summary © 2025 SailPoint Technologies, Inc. All rights reserved. 14
Slide 15: Investment themes
Investment themes Industry Continuous Efficient & Durable Leadership Innovation Growth © 2025 SailPoint Technologies, Inc. All rights reserved. 15
Slide 16: Q4'25 financial summary
Q4’25 financial summary $MM Q4’24 (1) Q4’25 (1) YoY Change Total ARR $682 $877 29% SaaS ARR $388 $540 39% Total Revenue $203 $240 18% Subscription Revenue $184 $224 22% Adjusted Gross Profit Margin (2) 78.1% 78.9% 80 bps Adjusted Operating Margin (2) 13.7% 19.0% 530 bps 1. Fiscal quarter ended Janua
Slide 17: FY'25 financial summary
FY’25 financial summary $MM FY’24 (1) FY’25 (1) YoY Change Total ARR $682 $877 29% SaaS ARR $388 $540 39% Total Revenue $700 $862 23% Subscription Revenue $623 $794 27% Adjusted Gross Profit Margin (2) 77.0% 78.1% 110 bps Adjusted Operating Margin (2) 7.8% 15.4% 760 bps 1. Fiscal year ended January
Slide 18: Total Annual Recurring Revenue ($MM)
Total Annual Recurring Revenue ($MM) 29% $877 YoY ARR Growth $813 $767 $710 $682 $626 $580 $550 $520 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Refer to appe
Slide 19: SaaS Annual Recurring Revenue ($MM)
SaaS Annual Recurring Revenue ($MM) 39% YoY ARR $540 Growth $486 $455 $412 $388 $346 $312 $288 $267 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Refer to appen
Slide 20: Steady retention rates through subscription transition
Steady retention rates through subscription transition Dollar-based net retention rate (1)(2) 114% 114% 110% FY'23 FY'24 FY'25 1. Fiscal years ended January 31, and based on Annual Recurring Revenue (ARR) © 2025 SailPoint Technologies, Inc. All rights reserved. 2. Refer to appendix for definitions o
Slide 21: Subscription revenue growth fueled by SaaS ($MM)
Subscription revenue growth fueled by SaaS ($MM) 27% $794 FY’25 Sub. Rev YoY Growth $623 $460 42% FY'25 $445 SaaS Rev YoY Growth $312 $205 FY'23 FY'24 FY'25 SaaS Revenue Other Subscription Revenue © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal years ended January 31. Refer to
Slide 22: Strong customer growth over $250K ARR
Strong customer growth over $250K ARR >$250K ARR Customer Count >$1MM ARR Customer Count 26% YoY 78% YoY 980 160 780 615 90 60 FY'23 FY'24 FY'25 FY'23 FY'24 FY'25 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal years ended January 31. Customer counts are approximate.. Refer to
Slide 23: Improving operating efficiency ($MM)
Improving operating efficiency ($MM) 50.0% $1,200 Adjusted Gross 110.0% Adjusted Subscription Adjusted Income from Operations $189 Profit & Margin Gross Profit & Margin & Adjusted Operating Margin 30.0% $1,000 150.0% $1,000 90.0% 10.0% $139 15.4% $800 82.2% 84.4% 84.1% 50.0% 7.8% $800 77.0% 78.1% 70
Slide 24: Guidance
Guidance © 2025 SailPoint Technologies, Inc. All rights reserved. 24
Slide 25: Fiscal Q1'26 & FY'26 guidance
(1)(2) Fiscal Q1’26 & FY’26 guidance $MM Q1’26 GUIDANCE FY’26 GUIDANCE AS OF 3/26/25 AS OF 3/26/25 Total ARR $896 to $900 $1,075 to $1,085 YoY Growth % 26% to 27% 23% to 24% Total Revenue $224 to $226 $1,025 to $1 ,035 YoY Growth % 19% to 20% 19% to 20% Adjusted Income from Operations $14 to $15 $15
Slide 26: Multiple levers to help support long-term growth
Multiple levers to help support long-term growth Drive new Expand existing Continue to leverage Expand global Continue to innovate customer growth customer and expand footprint and expand portfolio relationships network of partners and alliances © 2025 SailPoint Technologies, Inc. All rights reserve
Slide 27: Appendix
Appendix © 2025 SailPoint Technologies, Inc. All rights reserved. 27
Slide 28: Definitions of key business metrics
Definitions of key business metrics Annual Recurring Revenue We define ARR as the annualized value of SaaS, maintenance, term subscription, and other subscription contracts as of the measurement date. To the extent that we are actively negotiating a renewal or new agreement with a customer after the
Slide 29: Definitions of other business and financial metrics
Definitions of other business and financial metrics Subscription Revenue The majority of our revenue relates to subscription revenue which consists of (i) fees for access to, and related support for, the SaaS offerings, (ii) fees for term subscriptions, (iii) fees for ongoing maintenance and support
Slide 30: GAAP to adjusted gross profit reconciliation
GAAP to adjusted gross profit and adjusted gross profit margin reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP gross profit $129.7 $159.8 $353.2 $422.9 $555.9 GAAP gross profit margin 64.0% 66.5% 63.9% 60.5% 64.5% Equity-based compensation expense $2.8 $3.8 $10.2 $12.4 $13.8 Amortization of ac
Slide 31: GAAP to adjusted subscription gross profit reconciliation
GAAP to adjusted subscription gross profit and adjusted subscription gross profit margin reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP subscription gross profit $129.5 $162.0 $326.0 $417.8 $557.3 GAAP subscription gross profit margin 70.3% 72.2% 70.8% 67.1% 70.2% Equity-based compensation ex
Slide 32: GAAP to adjusted income from operations reconciliation
GAAP to adjusted income from operations and adjusted operating margin reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP income (loss) from operations ($65.2) ($30.2) ($316.2) ($332.7) ($188.7) GAAP income (loss) from operations margin (32.2%) (12.6%) (57.2%) (47.6%) (21.9%) Equity-based compensa
Slide 33: GAAP to adjusted sales & marketing expense reconciliation
GAAP to adjusted sales & marketing expense reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP sales & marketing expense $122.8 $116.9 $342.3 $461.2 $466.9 Equity-based compensation expense ($11.5) ($11.9) ($35.9) ($52.3) ($38.4) Amortization of acquired intangible assets ($38.5) ($23.6) ($73.4) (
Slide 34: GAAP to adjusted research & development expense reconciliation
GAAP to adjusted research & development expense reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP research & development expense $45.9 $45.5 $159.5 $180.8 $169.7 Equity-based compensation expense ($7.3) ($5.9) ($26.0) ($30.4) ($23.1) Amortization of acquired intangible assets ($0.0) ($0.1) ($0.4
Slide 35: GAAP to adjusted general & administrative expense reconciliation
GAAP to adjusted general & administrative expense reconciliation $MM Q4'24 Q4'25 FY'23 FY'24 FY'25 GAAP general & administrative expense $26.2 $27.7 $167.6 $113.7 $108.0 Equity-based compensation expense ($9.0) ($5.8) ($26.5) ($39.7) ($24.3) Amortization of acquired intangible assets - - - - - Acqui
Slide 36: Thank you!
Thank you! © 2025 SailPoint Technologies, Inc. All rights reserved. 36