SailPoint Analysts Boost Their Forecasts After Upbeat Q1 Results

SailPoint Inc. (NASDAQ:SAIL) on Tuesday posted upbeat first-quarter results but issued a fiscal second-quarter outlook that pointed to slowing growth.

For the fiscal first quarter ended April 30, SailPoint reported annual recurring revenue (ARR) of $1.163 billion, up 26% from a year earlier. SaaS ARR increased 36% to $781 million.

Total revenue rose 22% to $280.1 million, exceeding analysts' estimate of $276.0 million. Subscription revenue increased 23% to $265.8 million.

For the second quarter, SailPoint expects ARR of $1.218 billion to $1.222 billion, revenue of $308 million to $312 million, compared with analysts' estimate of $309.9 million, and adjusted earnings of 7 cents to 8 cents per share, versus expectations of ...

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SailPoint Analysts Boost Their Forecasts After Upbeat Q1 Results

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