Sailpoint, Inc. · NASDAQ:SAIL
Sailpoint — Q2 2027 Earnings Presentation
31 slides from Sailpoint's earnings presentation, Sep 9, 2026
Slide 1: Fiscal Q2'27 Earnings Presentation
Fiscal Q2’27 Earnings Presentation September 9, 2026
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: SailPoint Adaptive Identity
SailPoint Adaptive Identity The control plane for the modern, AI-powered enterprise Market AI & Ecosystem & Enterprise leader data moat integrations grade scale Deep expertise Supports 1,200+ Proven in many of Built on deep identity across IGA, Privilege, enterprise apps and the world's most context
Slide 4: Q2'27 results summary
Q2’27 results summary Significant Rapid recurring top line scale revenue growth $1,231M 25% ARR Growth YoY (2)(4) Number of identities ARR (1)(4) $309M 36% SaaS ARR Growth YoY (2)(4) Q2’27 Revenue AI agents Strong customer Strong margin Machine identities retention profile Non- Employee employees 3,
Slide 5: Q2'27 highlights
Q2’27 highlights ARR momentum AI-driven growth and strategic expansion ARR grew 25% Y/Y at >$1.2B in scale AI-driven ARR >$70M SaaS ARR grew 36% Y/Y, AI-driven solutions accounted for more than SaaS NNARR grew 34% Y/Y accounting 30% of NNARR for 97% of NNARR mix SaaS customer count grew 16% Y/Y with
Slide 6: Total Annual Recurring Revenue ($M)
Total Annual Recurring Revenue ($M) 25% YoY ARR Growth $1,231 $1,163 $1,125 $1,040 $982 $925 $877 $813 $767 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 © 2026 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Total
Slide 7: SaaS Annual Recurring Revenue ($M)
SaaS Annual Recurring Revenue ($M) 36% YoY SaaS ARR Growth $847 $781 $746 $669 $623 $574 $540 $486 $455 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 © 2026 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. SaaS ARR s
Slide 8: Steady retention rates
Steady retention rates Dollar-based net retention rate (1) 115% 114% 114% 114% 114% 114% 113% 113% 113% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Note: Fiscal quarters ended April 30, July 31, October 31, and January 31. Dollar-based net retention rate shown above is as of the end of eac
Slide 9: Subscription revenue growth fueled by SaaS ($M)
Subscription revenue growth fueled by SaaS ($M) $295 19% Q2’27 $248 Sub. Rev YoY Growth $101 $182 $103 $76 $194 34% $145 Q2‘27 SaaS Rev $106 YoY Growth Q2'25 Q2'26 Q2'27 SaaS Revenue Other Subscription Revenue © 2026 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended July
Slide 10: Strong customer growth over $250K ARR
Strong customer growth over $250K ARR >$250K ARR Customer Count >$1MM ARR Customer Count 22% 27% YoY YoY 1,330 235 1,090 185 860 125 Q2'25 Q2'26 Q2'27 Q2'25 Q2'26 Q2'27 © 2026 SailPoint Technologies, Inc. All rights reserved. Note: Fiscal quarters ended July 31. Customer counts are as of the end of
Slide 11: Driving operating efficiency ($M)
Driving operating efficiency ($M) Adjusted Gross Adjusted Subscription Adjusted Income from Profit & Margin Gross Profit & Margin Operations & Margin 20.4% 20.3% 76.8% 78.2% 77.4% 82.9% 83.0% 82.3% 10.7% $239 $243 $207 $206 $63 $152 $151 $54 $21 Q2'25 Q2'26 Q2'27 Q2'25 Q2'26 Q2'27 Q2'25 Q2'26 Q2'27
Slide 12: Guidance
Guidance
Slide 13: Fiscal Q3'27 & FY'27 guidance
(1)(2) Fiscal Q3’27 & FY’27 guidance $M Q3’27 Guidance FY’27 Guidance Prior FY’27 Guidance As of 9/9/26 As of 9/9/26 As of 6/9/26 Total ARR (in millions) $1,288 to $1,292 $1,375 to $1,385 $1,364 to $1,374 YoY growth % 24% 22% to 23% 21% to 22% Total Revenue (in millions) $326 to $330 $1,265 to $1,27
Slide 14: Additional modeling notes
Additional modeling notes SaaS/Term ARR Mix: We expect approximately 85-90% of Net New ARR (NNARR)(1) will come from SaaS for Q3’27 and 90%-95% for FY’27. A $5M ARR shift from Term to SaaS would impact Q3’27 revenue by approximately $10M Revenue: We expect Q3’27 term revenue to decline mid single di
Slide 15: Reiterating FY'29 targets
Reiterating FY’29 targets $2.1B+ $800M+ ARR(1)(2) AI-driven ARR(1)(2)(3) 22%+ $400M+ Adjusted Operating Margin(4) Free Cash Flow(4) (22%+ margin) 1. Refer to appendix for definitions of key and other business metrics. 2. As of the end of FY’29. 3. AI-driven ARR is defined as total ARR from our AI so
Slide 16: Reiterating FY'29E & long-term targets
Reiterating FY’29E & long-term targets(1)(2)(3) L-T Non-GAAP Metric FY’23 FY’24 FY’25 FY’26 FY’29E Drivers target Adj. Gross Profit Margin % 75.0% 77.0% 78.1% 77.8% 76% – 79% ~80% Technology efficiencies Adj. S&M as % of Rev 44.3% 40.4% 38.0% 36.5% 32% - 35% ~30% Scale go-to-market operations Adj. R
Slide 17: 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 © 2026 SailPoint Technologies, Inc. All rights reserve
Slide 18: Appendix
Appendix
Slide 19: Higher NNARR SaaS mix impacted fiscal Q2'27 revenue by approximately $5 million
Higher NNARR SaaS mix impacted fiscal Q2’27 revenue by approximately $5 million $5 SaaS mix revenue timing headwind (1) $14 Services and other 97% $45 Maintenance & other subscription services Fiscal Q2’27 NNARR SaaS mix actual $56 Term subscriptions $194 SaaS 90-95% Fiscal Q2’27 NNARR SaaS mix guid
Slide 20: Revenue recognition example
Revenue recognition example Term SaaS $1.8M Upfront $250k $250k $250k $250k $250k $250k $250k $250k $250k $250k $250k $250k $100k $100k $100k $100k $100k $100k $100k $100k $100k $100k $100k $100k Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 60% point-in-time (upfront
Slide 21: Definitions of key business metrics
Definitions of key business metrics Annual Recurring Revenue (ARR) 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 aft
Slide 22: Definitions of other business and financial metrics
Definitions of other business and financial metrics AI-driven annual recurring revenue (AI-driven ARR) We define AI-driven ARR (which was previously referred to as AI ARR) as total ARR from our AI solutions, including Agentic Suites, SailPoint Agentic Fabric (SAF), and Agentic add-on modules, as of
Slide 23: Definitions of other business and financial metrics
Definitions of other business and financial metrics Net New SaaS ARR (SaaS NNARR) We define SaaS NNARR as the change in the SaaS ARR from the end of the prior quarter for purposes of assessing quarterly achievement, and the change in SaaS ARR from the prior year for purposes of assessing annual achi
Slide 24: Revenue
Revenue Three Months Ended July 31, 2026 2025 2024 (In thousands) Revenue Subscription SaaS $ 193,872 $ 144,758 $ 105,716 Maintenance and support 35,468 38,471 38,909 Term subscriptions 56,196 58,120 32,630 Other subscription services 9,669 6,588 4,556 Total subscription 295,205 247,937 181,811 Serv
Slide 25: GAAP to adjusted gross profit and adjusted gross profit margin reconciliation
GAAP to adjusted gross profit and adjusted gross profit margin reconciliation Three Months Ended July 31, 2026 2025 2024 (In thousands, except percentages) GAAP gross profit $ 205,385 $ 177,806 $ 123,313 GAAP gross profit margin 66.5% 67.3% 62.1% Equity-based compensation expense 5,703 2,612 3,215 P
Slide 26: 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 July 31, 2026 2025 2024 (In thousands, except percentages) GAAP subscription gross profit $ 211,102 $ 177,494 $ 123,323 GAAP subscription gross profit margin 71.5% 71.6% 67.8% E
Slide 27: GAAP to adjusted income from operations and adjusted operating margin reconciliation
GAAP to adjusted income from operations and adjusted operating margin reconciliation Three Months Ended July 31, 2026 2025 2024 (In thousands, except percentages) GAAP loss from operations $ (58,958) $ (40,798) $ (65,830) GAAP loss from operations margin (19.1)% (15.4)% (33.2)% Equity-based compensa
Slide 28: GAAP to adjusted operating expense reconciliation
GAAP to adjusted operating expense reconciliation Three Months Ended July 31, (in thousands) 2026 2025 GAAP research and development expense $ 62,185 $ 48,111 Equity-based compensation expense (15,822) (7,512) Payroll taxes for IPO-accelerated awards and RSUs (451) — Amortization of acquired intangi
Slide 29: GAAP to adjusted earnings per share (adjusted EPS) reconciliation
GAAP to adjusted earnings per share (adjusted EPS) reconciliation Three Months Ended July 31, (in thousands, except per share data) 2026 2025 GAAP net loss $ (50,360) $ (10,552) Equity-based compensation expense 68,321 48,418 Payroll taxes for IPO-accelerated awards and RSUs 1,634 — Amortization of
Slide 30: GAAP cash from operations to free cash flow reconciliation
GAAP cash from operations to free cash flow reconciliation Three Months Ended July 31, (In thousands, except percentages) 2026 2025 GAAP net cash provided by (used in) operating activities $ 44,963 $ 49,945 Less: Purchase of property and equipment (1,934) (962) Less: Capitalized software development
Slide 31: Thank you!
A. SailPoint Thank you!