Slide 1: Fiscal Q2'26 Earnings Presentation
Fiscal Q2’26 Earnings Presentation September 9, 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 $982MM 28% ARR Growth YoY (2) ARR (1)(4) $264MM 37% Q2’26 Revenue SaaS ARR Growth YoY (2) Manage and secure dynamic access Strong customer Strong margin retention profile to critical applications an
Slide 4: Explosion in number and types of identities
Explosion in number and types of identities leads 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: The exponential growth of machine identities and AI agents
The exponential growth of machine identities and AI agents increases security risk and management complexity 96% 82% 69% of technology professionals consider AI agents a growing security risk, yet 98% of of organizations use AI organizations plan to expand adoption (2) agents but only 44% have polic
Slide 6: The growing volume of data and applications compounds the identity challenge
The growing volume of data and applications compounds the depth and breadth of the identity challenge… Modern enterprise Employee, non-employee, & machine identities © 2025 SailPoint Technologies, Inc. All rights reserved. 6
Slide 7: Significant risk to today's enterprise IT environments
…resulting in 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 8: Four critical forces
Four critical forces reshaping enterprise cybersecurity in 2025 Cyber threat Operationalizing Security as Increased regulatory complexity zero trust business strategy pressure © 2025 SailPoint Technologies, Inc. All rights reserved. 8
Slide 9: Identity integration: Security's force multiplier
Identity integration: Security's force multiplier Identity Data Security From administrative to intelligence From siloed to unified From reactive to predictive Comprehensive identity Data access & Identity driven threat governance governance detection Dynamic privileged Data driven identity Behavior
Slide 10: 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. 10
Slide 11: 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 pa o at Ex Broad and deep offering Global strategic partnerships Co ity m re ur ec p he S Proven enterprise suc
Slide 12: Our comprehensive, extensible, identity-first, security platform
Our comprehensive, extensible, identity-first, security platform © 2025 SailPoint Technologies, Inc. All rights reserved. 12
Slide 13: SailPoint Accelerated Application Management
SailPoint Accelerated Application Management A scalable, intelligent solution for quickly onboarding and governing enterprise application landscapes Continuous visibility and actionable intelligence from day one Accelerated connectivity via zero-touch onboarding experience Quick compliance wins that
Slide 14: Excellence & leadership recognized
Excellence & leadership recognized A 2024 Gartner® Peer A 2024 Leader in A 2024 Leader in Identity A 2025 Leader in Insights Customers' KuppingerCole Leadership Governance & KuppingerCole Leadership Choice for Identity Compass on Identity Administration from Compass in Cloud Governance and Governanc
Slide 15: Our values: The four I's
Our values: The four I’s © 2025 SailPoint Technologies, Inc. All rights reserved. 15
Slide 16: Fiscal Q2'26 Financial Summary
Fiscal Q2’26 Financial Summary © 2025 SailPoint Technologies, Inc. All rights reserved. 16
Slide 17: Investment themes
Investment themes Industry Continuous Efficient & Durable Leadership Innovation Growth © 2025 SailPoint Technologies, Inc. All rights reserved. 17
Slide 18: Q2'26 financial summary
Q2’26 financial summary $MM Q2’25 (1) Q2’26 (1) YoY Change Total ARR $767 $982 28% SaaS ARR $455 $623 37% Total Revenue $199 $264 33% Subscription Revenue $182 $248 36% Adjusted Gross Profit Margin (2) 76.8% 78.2% 140 bps Adjusted Operating Margin (2) 10.7% 20.4% 980 bps 1. Fiscal quarter ended July
Slide 19: Total Annual Recurring Revenue ($MM)
Total Annual Recurring Revenue ($MM) 28% YoY ARR Growth $982 $925 $877 $813 $767 $710 $682 $626 $580 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, Octo ber 31, and January 31. Refer to app
Slide 20: SaaS Annual Recurring Revenue ($MM)
SaaS Annual Recurring Revenue ($MM) 37% YoY SaaS ARR Growth $623 $574 $540 $486 $455 $412 $388 $346 $312 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, Octo ber 31, and January 31. Refer to
Slide 21: Steady retention rates through subscription transition
Steady retention rates through subscription transition Dollar-based net retention rate (1) 114% 114% 115% 114% 114% 114% 114% 114% 112% Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Note: Fiscal quarters ended April 30, July 31, October 31, and January 31 © 2025 SailPoint Technologies, Inc.
Slide 22: Subscription revenue growth fueled by SaaS ($MM)
Subscription revenue growth fueled by SaaS ($MM) $248 36% Q2 ’26 Sub. Rev YoY Growth $182 $144 $145 37% Q2 ‘26 $106 SaaS Rev YoY Growth $74 Q2'24 Q2'25 Q2'26 SaaS Revenue Other Subscription Revenue © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended July 31. Refer to
Slide 23: Strong customer growth over $250K ARR
Strong customer growth over $250K ARR >$250K ARR Customer Count >$1MM ARR Customer Count 27% 48% YoY YoY 1,090 185 860 675 125 75 Q2'24 Q2'25 Q2'26 Q2'24 Q2'25 Q2'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended July 31. Customer counts are approximate. Refer t
Slide 24: Driving operating efficiency ($MM)
Driving operating efficiency ($MM) $300 Adjusted Gross 97.0% Adjusted Subscription Adjusted Income from $300 Profit & Margin Gross Profit & Margin 150.0% $77 Operations & Margin 87.0% 30.0% $250 77.0%$250 $67 20.4% 10.0% 76.2% 76.8% 78.2% 84.0% 82.9% 83.0% 50.0% 67.0% 10.7% $200 $57 5.9% $200 (10.0%
Slide 25: Guidance
Guidance © 2025 SailPoint Technologies, Inc. All rights reserved. 25
Slide 26: Fiscal Q3'26 & FY'26 guidance
(1)(2) Fiscal Q3’26 & FY’26 guidance $MM Q3’26 GUIDANCE FY’26 GUIDANCE Prior FY’26 GUIDANCE AS OF 9/9/25 AS OF 9/9/25 AS OF 6/11/25 Total ARR (in millions) $1,027 to $1,031 $1,105 to $1,115 $1,095 to $1,105 YoY growth % 26% to 27% 26% to 27% 25% to 26% Total Revenue (in millions) $269 to $271 $1,052
Slide 27: Additional modeling notes
Additional modeling notes • ARR: Our Q3’26 and FY’26 guidance assumes no material change in FX rates. • SaaS/Term ARR Mix: We expect approximately 90% of net new ARR will come from SaaS for H2’26. • Adjusted Subscription Gross Profit Margin: We expect approximately 82% for Q3’26, primarily due to a
Slide 28: 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 29: Appendix
Appendix © 2025 SailPoint Technologies, Inc. All rights reserved. 29
Slide 30: 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 31: 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 suppor
Slide 32: Revenue
Revenue Three Months Ended July 31, 2025 2024 2023 (In thousands, except percentages) Revenue Subscription SaaS $ 144,758 $ 105,716 $ 73,620 Maintenance and support 38,471 38,909 39,210 Term subscriptions 58,120 32,630 28,515 Other subscription services 6,588 4,556 2,562 Total subscription 247,937 1
Slide 33: GAAP to adjusted gross profit reconciliation
GAAP to adjusted gross profit and adjusted gross profit margin reconciliation Three Months Ended July 31, 2025 2024 2023 (In thousands, except percentages) GAAP gross profit $ 177,806 $ 123,313 $ 95,099 GAAP gross profit margin 67.3% 62.1% 58.2% Equity-based compensation expense 2,612 3,215 3,703 Pa
Slide 34: GAAP to adjusted subscription gross profit reconciliation
GAAP to adjusted subscription gross profit and adjusted subscription gross profit margin reconciliation Three Months Ended July 31, 2025 2024 2023 (In thousands, except percentages) GAAP subscription gross profit $ 177,494 $ 123,323 $ 93,814 GAAP subscription gross profit margin 71.6% 67.8% 65.2% Eq
Slide 35: GAAP to adjusted income from operations reconciliation
GAAP to adjusted income from operations and adjusted operating margin reconciliation Three Months Ended July 31, 2025 2024 2023 (In thousands, except percentages) GAAP income (loss) from operations $ (40,798) $ (65,830) $ (95,147) GAAP income (loss) from operations margin (15.4%) (33.2%) (58.2%) Equ
Slide 36: GAAP to adjusted operating expense reconciliation
GAAP to adjusted operating expense reconciliation Three Months Ended July 31, 2025 2024 GAAP sales and marketing expense $ 131,289 $ 119,565 Equity-based compensation expense (18,203) (8,934) Payroll taxes for IPO-accelerated awards and RSUs — — Amortization of acquired intangible assets (23,797) (3
Slide 37: GAAP to adjusted earnings per share reconciliation
GAAP to adjusted earnings per share (adjusted EPS) reconciliation Three Months Ended July 31, 2025 GAAP net loss $ (10,552) Equity-based compensation expense 48,418 Payroll taxes for IPO-accelerated awards and RSUs — Amortization of acquired intangible assets 50,214 Amortization of acquired contract
Slide 38: GAAP cash from operations to free cash flow reconciliation
GAAP cash from operations to free cash flow reconciliation Three Months Ended July 31, 2025 2024 (In thousands, except percentages) GAAP net cash provided by (used in) operating activities $ 49,945 $ (52,797) Less: Purchase of property and equipment (962) (889) Less: Capitalized software development
Slide 39: Thank you!
Thank you! © 2025 SailPoint Technologies, Inc. All rights reserved. 39