Slide 1: Fiscal Q1'26 Earnings Presentation
Fiscal Q1’26 Earnings Presentation June 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 $925MM 30% ARR Growth YoY (2) ARR (1)(4) $230MM 39% Q1’26 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 leads to significant complexity
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 increases security risk
The exponential growth of machine identities and AI agents increases the security risk and management complexity 96% 82% of technology professionals consider AI agents a growing 69% security risk, yet 98% of organizations plan to expand adoption (2) of organizations use AI agents but only 44% have p
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: 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. 8
Slide 9: 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. 9
Slide 10: 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 11: SailPoint is 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 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: Identity Security Cloud products
Identity Security Cloud Extensible platform supports additional products to continue to products provide value to customers In addition to the core integrated capabilities, organizations can extend the value of our Identity Security Cloud with additional products Non-Employee Data Access Access Risk
Slide 14: SailPoint Machine Identity Security
SailPoint Machine Identity Security AI-powered Human Ownership Access Platform Based Discovery makes concept creates Certifications capabilities deliver finding machine accountability and enable least unified approach for accounts easier enables privilege approach all identities compliance © 2025 Sa
Slide 15: 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 16: Our values: The four I's
Our values: The four I’s © 2025 SailPoint Technologies, Inc. All rights reserved. 16
Slide 17: Fiscal Q1'26 Financial Summary
Fiscal Q1’26 Financial Summary © 2025 SailPoint Technologies, Inc. All rights reserved. 17
Slide 18: Investment themes
Investment themes Industry Continuous Efficient & Durable Leadership Innovation Growth © 2025 SailPoint Technologies, Inc. All rights reserved. 18
Slide 19: Q1'26 financial summary
Q1’26 financial summary $MM Q1’25 (1) Q1’26 (1) YoY Change Total ARR $710 $925 30% SaaS ARR $412 $574 39% Total Revenue $188 $230 23% Subscription Revenue $170 $215 27% Adjusted Gross Profit Margin (2) 77.1% 76.3% (80) bps Adjusted Operating Margin (2) 10.2% 10.2% 0 bps 1. Fiscal quarter ended April
Slide 20: Total Annual Recurring Revenue ($MM)
Total Annual Recurring Revenue ($MM) 30% YoY ARR Growth $925 $877 $813 $767 $710 $682 $626 $580 $550 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Refer to appe
Slide 21: SaaS Annual Recurring Revenue ($MM)
SaaS Annual Recurring Revenue ($MM) 39% YoY SaaS ARR Growth $574 $540 $486 $455 $412 $388 $346 $312 $288 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Refer to
Slide 22: Steady retention rates through subscription transition
Steady retention rates through subscription transition Dollar-based net retention rate (1)(2) 114% 114% 115% 114% 114% 114% 114% 112% 111% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 1. Fiscal quarters ended April 30, July 31, October 31, and January 31 © 2025 SailPoint Technologies, Inc.
Slide 23: Subscription revenue growth fueled by SaaS ($MM)
Subscription revenue growth fueled by SaaS ($MM) 27% Q1 ’26 $215 Sub. Rev YoY Growth $170 $132 36% $132 Q1 ‘26 $97 SaaS Rev YoY Growth $67 Q1'24 Q1'25 Q1'26 SaaS Revenue Other Subscription Revenue © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30. Refer to
Slide 24: Strong customer growth over $250K ARR
Strong customer growth over $250K ARR >$250K ARR Customer Count >$1MM ARR Customer Count 28% YoY 62% YoY 1,025 170 800 640 105 65 Q1'24 Q1'25 Q1'26 Q1'24 Q1'25 Q1'26 © 2025 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30. Customer counts are approximate. Refer
Slide 25: Driving operating efficiency ($MM)
Driving operating efficiency ($MM) $300 Adjusted Gross 110.0% Adjusted Subscription Adjusted Income from 50.0% $300 Profit & Margin Gross Profit & Margin $42 Operations & Margin 150.0% 30.0% $250 90.0% $250 $37 10.0% 83.2% 83.7% 82.4% 50.0% $32 $200 75.2% 77.1% 76.3% 70.0% $200 10.2% 10.2% $27 (1.3%
Slide 26: Guidance
Guidance © 2025 SailPoint Technologies, Inc. All rights reserved. 26
Slide 27: Fiscal Q2'26 & FY'26 guidance
(1)(2) Fiscal Q2’26 & FY’26 guidance Q2’26 GUIDANCE FY’26 GUIDANCE Prior FY’26 GUIDANCE AS OF 6/11/25 AS OF 6/11/25 AS OF 3/26/25 Total ARR (in millions) $963 to $967 $1,095 to $1,105 $1,075 to $1,085 YoY growth % 26% 25% to 26% 23% to 24% Total Revenue (in millions) $242 to $244 $1,034 to $1,044 $1
Slide 28: Additional modeling notes
Additional modeling notes • ARR: Relative to consensus and our prior guidance, our Q2’26 and FY’26 guidance increase primarily reflects organic growth and assumes no material change in FX rates. • SaaS/Term Mix: For the remainder of FY’26, we expect an average of 90% of net new ARR to come from SaaS
Slide 29: 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 30: Appendix
Appendix © 2025 SailPoint Technologies, Inc. All rights reserved. 30
Slide 31: 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 32: 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 33: Revenue
Revenue Three Months Ended April 30, 2025 2024 variance % (In thousands) Revenue Subscription SaaS $ 131,815 $ 97,067 36 % Maintenance and support 37,389 38,269 (2) % Term subscriptions 40,040 30,685 30 % Other subscription services 6,079 4,071 49 % Total subscription 215,323 170,092 27 % Perpetual
Slide 34: GAAP to adjusted gross profit and margin reconciliation
GAAP to adjusted gross profit and adjusted gross profit margin reconciliation Three Months Ended April 30, 2025 2024 2023 (In thousands, except percentages) GAAP gross profit $ 127,655 $ 115,490 $ 85,893 GAAP gross profit margin 55.4% 61.5% 56.4% Equity-based compensation expense 21,592 3,338 2,823
Slide 35: GAAP to adjusted subscription gross profit and margin reconciliation
GAAP to adjusted subscription gross profit and adjusted subscription gross profit margin reconciliation Three Months Ended April 30, 2025 2024 2023 (In thousands, except percentages) GAAP subscription gross profit $ 139,832 $ 114,972 $ 83,685 GAAP subscription gross profit margin 64.9% 67.6% 63.4% E
Slide 36: GAAP to adjusted income from operations and operating margin reconciliation
GAAP to adjusted income from operations and adjusted operating margin reconciliation Three Months Ended April 30, 2025 2024 2023 (In thousands, except percentages) GAAP income (loss) from operations $ (184,965) $ (68,193) $ (91,106) GAAP income (loss) from operations margin (80.3%) (36.3%) (59.8%) E
Slide 37: GAAP to adjusted operating expense reconciliation
GAAP to adjusted operating expense reconciliation Three Months Ended April 30, 2025 2024 (In thousands) GAAP sales and marketing expense $ 164,530 $ 114,887 Equity-based compensation expense (53,503) (9,201) Payroll taxes for IPO-accelerated awards and RSUs (1,684) — Amortization of acquired intangi
Slide 38: GAAP to adjusted earnings per share reconciliation
GAAP to adjusted earnings per share (adjusted EPS) reconciliation Three Months Ended April 30, 2025 (In thousands) GAAP net loss $ (187,312) Equity-based compensation expense 160,459 Payroll taxes for IPO-accelerated awards and RSUs 3,399 Amortization of acquired intangible assets 49,912 Amortizatio
Slide 39: Thank you!
Thank you! © 2025 SailPoint Technologies, Inc. All rights reserved. 39