SailPoint, Inc. · SAIL · FY2025 Q4 · Calendar Q1 2025
SailPoint posts strong FY2025 growth as SaaS and cross-sell expand
The call supports a constructive operating thesis: SailPoint is combining SaaS migration, strong retention and new identity-security modules to extend growth. The main tests are whether the enterprise pipeline remains resilient, new products convert into durable expansion and the company manages SaaS-mix and competitive pressures.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
SailPoint’s current analysis adds evidence of continued SaaS and cross-sell momentum, with ARR at $877 million, SaaS ARR growth of 39% and net retention of 114%. It also highlights Harbor Pilot and the planned agent identity-security module, full debt repayment and a maintained FY2026 outlook.
Guidance delta
Management maintained a growth-oriented FY2026 outlook, including $1.08 billion of ARR, $1.03 billion of revenue and a 14.9% adjusted operating margin.
Key takeaways
- FY2025 ARR reached $877 million, up 29% year over year, while SaaS ARR grew 39%.
- Net retention was 114%, with cross-sell and upsell supporting expansion.
- Machine Identity Security, Non-Employee Risk Management and Harbor Pilot broaden the product-led growth opportunity.
- Management highlighted debt repayment, cash-flow improvement and continued international expansion.
Management priorities
- Continue migrating legacy identity-governance contracts to SaaS.
- Expand cross-sell through Machine Identity Security, Non-Employee Risk Management and AI-agent products.
- Develop the Atlas platform and Harbor Pilot, including the planned agent identity-security module.
- Increase international presence in EMEA and APAC while extending the enterprise pipeline.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Oct 9, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 8, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Oct 5, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 24, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Sep 18, 2026 |
| Roth Capital | Buy | Buy | Maintain | Sep 10, 2026 |
| Rosenblatt | Neutral | Neutral | Maintain | Sep 10, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 10, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Sep 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | Sep 10, 2026 |
| BTIG | Buy | Buy | Maintain | Sep 9, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 20, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Aug 19, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 17, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 17, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 14, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jun 17, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Mar 19, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Mar 19, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Sep 10, 2025 |
| Jefferies | Buy | Buy | Maintain | Mar 31, 2025 |
| Wedbush | Neutral | Outperform | Downgrade | Apr 12, 2022 |
| Canaccord Genuity | Hold | Buy | Downgrade | Apr 12, 2022 |
| Keybanc | Overweight | Overweight | Maintain | Apr 5, 2022 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 6, 2021 |
| Monness, Crespi, Hardt | Buy | Neutral | Upgrade | Apr 5, 2021 |
| Needham | Buy | Hold | Upgrade | Mar 1, 2021 |
| Loop Capital | Hold | Hold | Maintain | Sep 9, 2020 |
| Berenberg | Buy | Buy | Maintain | Jun 25, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jun 24, 2020 |
| PiperJaffray | Overweight | Overweight | Maintain | Nov 8, 2019 |
| Summit Insights Group | Buy | Buy | Maintain | Apr 17, 2019 |
| Northland Securities | Perform | Market Perform | Maintain | Sep 11, 2018 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 9, 2018 |
| Citigroup | Buy | Buy | Maintain | Aug 9, 2018 |
| BTIG Research | Buy | Buy | Maintain | May 30, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $21.79. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Cantor Fitzgerald | Jonathan Ruykhaver | $27 | $20.02 | +23.9% | Oct 9, 2026 |
| Robert W. Baird | Analyst unavailable | $25 | $19.58 | +14.7% | Oct 8, 2026 |
| Oppenheimer | Analyst unavailable | $30 | $19.91 | +37.7% | Oct 7, 2026 |
| Truist Financial | Junaid Siddiqui | $27 | $21.41 | +23.9% | Sep 24, 2026 |
| Scotiabank | Analyst unavailable | $22 | $18.53 | +1.0% | Sep 10, 2026 |
| BMO Capital | Keith Bachman | $21 | $17.58 | -3.6% | Sep 10, 2026 |
| Roth Capital | Analyst unavailable | $21 | $17.58 | -3.6% | Sep 10, 2026 |
| Mizuho Securities | Analyst unavailable | $19 | $17.58 | -12.8% | Sep 9, 2026 |
| Jefferies | Joseph Gallo | $23 | $19.39 | +5.6% | Sep 4, 2026 |
| Cantor Fitzgerald | Jonathan Ruykhaver | $25 | $20.56 | +14.7% | Sep 1, 2026 |
| Barclays | Analyst unavailable | $21 | $20.56 | -3.6% | Sep 1, 2026 |
| Morgan Stanley | Analyst unavailable | $22 | $19.19 | +1.0% | Aug 20, 2026 |
| Mizuho Securities | Analyst unavailable | $18 | $19.2 | -17.4% | Aug 19, 2026 |
| Wells Fargo | Richard Poland | $22 | $19.53 | +1.0% | Aug 17, 2026 |
| RBC Capital | Analyst unavailable | $22 | $19.99 | +1.0% | Aug 14, 2026 |
| D.A. Davidson | Analyst unavailable | $17 | $17.2 | -22.0% | Aug 3, 2026 |
| Truist Financial | Junaid Siddiqui | $18 | $13.71 | -17.4% | Jun 17, 2026 |
| Goldman Sachs | Analyst unavailable | $19 | $15.1 | -12.8% | Jun 10, 2026 |
| BMO Capital | Analyst unavailable | $19 | $15.06 | -12.8% | Jun 10, 2026 |
| RBC Capital | Matthew Hedberg | $19 | $15.02 | -12.8% | Jun 10, 2026 |
| Mizuho Securities | Gregg Moskowitz | $16 | $15.66 | -26.6% | Jun 10, 2026 |
| Wells Fargo | Analyst unavailable | $19 | $15.66 | -12.8% | Jun 10, 2026 |
| Wolfe Research | Alex Zukin | $18 | $15.66 | -17.4% | Jun 10, 2026 |
| Barclays | Analyst unavailable | $19 | $15.66 | -12.8% | Jun 10, 2026 |
| Scotiabank | Analyst unavailable | $19 | $15.55 | -12.8% | Jun 9, 2026 |
| Barclays | Saket Kalia | $22 | $19.25 | +1.0% | Jun 2, 2026 |
| Roth Capital | Analyst unavailable | $19 | $14.98 | -12.8% | May 20, 2026 |
| RBC Capital | Analyst unavailable | $17 | $13.32 | -22.0% | May 15, 2026 |
| FBN Securities | Analyst unavailable | $18 | $12.86 | -17.4% | Feb 24, 2026 |
| Truist Financial | Junaid Siddiqui | $23 | $15.42 | +5.6% | Feb 17, 2026 |
| Mizuho Securities | Gregg Moskowitz | $20 | $15.92 | -8.2% | Feb 17, 2026 |
| RBC Capital | Matthew Hedberg | $23 | $15.21 | +5.6% | Feb 11, 2026 |
| Goldman Sachs | Analyst unavailable | $21 | $18.31 | -3.6% | Jan 28, 2026 |
| RBC Capital | Analyst unavailable | $26 | $18.95 | +19.3% | Jan 5, 2026 |
| Scotiabank | Analyst unavailable | $24 | $20.08 | +10.1% | Dec 10, 2025 |
| Mizuho Securities | Gregg Moskowitz | $23 | $20.5 | +5.6% | Dec 9, 2025 |
| Robert W. Baird | Analyst unavailable | $26 | $22.35 | +19.3% | Oct 27, 2025 |
| Wolfe Research | Joshua Tilton | $27 | $21.9 | +23.9% | Oct 20, 2025 |
| Wells Fargo | Analyst unavailable | $23 | $22.31 | +5.6% | Sep 30, 2025 |
| BMO Capital | Keith Bachman | $25 | $20.66 | +14.7% | Sep 9, 2025 |
| Morgan Stanley | Analyst unavailable | $25 | $20.98 | +14.7% | Sep 2, 2025 |
| Stephens | Todd Weller | $26 | $18.34 | +19.3% | Aug 11, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $29 | $22.86 | +33.1% | Jun 30, 2025 |
| Barclays | Saket Kalia | $23 | $17.78 | +5.6% | Jun 3, 2025 |
| Mizuho Securities | Gregg Moskowitz | $24 | $18.63 | +10.1% | May 15, 2025 |
| Mizuho Securities | Analyst unavailable | $25 | $22.13 | +14.7% | Mar 10, 2025 |
| Jefferies | Analyst unavailable | $26 | $22.13 | +19.3% | Mar 10, 2025 |
| Morgan Stanley | Keith Weiss | $26 | $22.05 | +19.3% | Mar 10, 2025 |
| Piper Sandler | Analyst unavailable | $30 | $22.13 | +37.7% | Mar 10, 2025 |
| RBC Capital | Matthew Hedberg | $27 | $22.05 | +23.9% | Mar 10, 2025 |
| Barclays | Analyst unavailable | $27 | $22.13 | +23.9% | Mar 10, 2025 |
| Goldman Sachs | Analyst unavailable | $23 | $22.13 | +5.6% | Mar 10, 2025 |
| BMO Capital | Keith Bachman | $26 | $22.05 | +19.3% | Mar 10, 2025 |
| D.A. Davidson | Rudy Kessinger | $65 | $64.05 | +198.3% | Apr 11, 2022 |
| Piper Sandler | Rob Owens | $55 | $45 | +152.4% | Jan 6, 2022 |
| Wolfe Research | Alex Zukin | $68 | $58.05 | +212.1% | Nov 10, 2021 |
| Berenberg Bank | Kingsley Crane | $67 | $58.05 | +207.5% | Nov 10, 2021 |
| Morgan Stanley | Hamza Fodderwala | $75 | $58.05 | +244.2% | Nov 10, 2021 |
| Goldman Sachs | Brian Essex | $60 | $44.74 | +175.4% | May 11, 2021 |
| Monness | Ryan Flanagan | $60 | $44.74 | +175.4% | May 11, 2021 |
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Start freeCompany context
Snapshot as of publicationSailPoint, Inc. delivers comprehensive enterprise identity security platforms to organizations across the Americas, Europe, the Middle East, Africa, and Asia-Pacific regions. The company's solutions effectively manage and secure a diverse range of identities, from human users (including employees and non-employees) to machine identities, while also governing access to sensitive data and critical applications. These offerings empower businesses to make smarter access decisions, optimize operational processes, and achieve a deeper understanding of their entire identity and access landscape. SailPoint's primary products are Identity Security Cloud, a cloud-native, SaaS-based platform designed for managing and securing access to vital data and applications for all enterprise identities, and IdentityIQ, a powerful identity security solution hosted directly by the customer. The company was founded in Austin, Texas, in 2005.
Historical context
All SAIL earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| INFY Infosys Limited | FY2027 Q2 · Calendar Q4 2026 | -4.8% | -6.6% | Infosys trims growth outlook as AI revenue and deal wins accelerate |
| SSNC SS&C Technologies Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | +2.8% | SS&C raises 2026 outlook as AI and tokenization support growth |
| ROP Roper Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1.7% | +9.7% | Roper raises DEPS outlook as AI adoption expands across portfolio |
| VRSN VeriSign, Inc. | FY2026 Q3 · Calendar Q4 2026 | -2.0% | -0.9% | VeriSign reports record registrations as renewal mix becomes a key watchpoint |
| TTMI TTM Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +16.8% | -27.7% | TTM Technologies Q3: Record Growth, Higher Investment, More Deal Risk |
| NOK Nokia Oyj | FY2026 Q3 · Calendar Q4 2026 | +25.0% | -14.8% | Nokia Q3: AI and cloud growth lifts margins as cash flow stays negative |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-25T17:00:45.419132+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T17:00:45.416265+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.