Revenue growth remains steady at 21.6% in 2027Q1, though gross margins are constrained at 64.7% due to the ongoing costs of supporting dual-architecture environments.
| Sales/Revenue | 1.12B | 1.07B | 861.61M | 699.57M | 450.04M | 365.25M | 288.51M | 248.92M | 186.06M | 132.41M | 95.36M |
| Revenue Growth % | 23.39% | 24.35% | 23.16% | 55.45% | 23.21% | 26.6% | 15.91% | 33.79% | 40.51% | 38.86% | - |
| Cost of Goods Sold | 376.84M | 380.63M | 305.73M | 276.63M | 115.45M | 85.75M | 65.47M | 54.67M | 44.59M | 37.04M | 29.26M |
| COGS % of Revenue | - | 35.53% | 35.48% | 39.54% | 25.65% | 23.48% | 22.69% | 21.96% | 23.97% | 27.97% | 30.68% |
| Gross Profit | 744.25M | 690.79M | 555.88M | 422.94M | 334.59M | 279.51M | 223.04M | 194.25M | 141.47M | 95.37M | 66.1M |
| Gross Margin % | 66.39% | 64.47% | 64.52% | 60.46% | 74.35% | 76.52% | 77.31% | 78.04% | 76.03% | 72.03% | 69.32% |
| Gross Profit Growth % | - | 24.27% | 31.43% | 26.41% | 19.71% | 25.32% | 14.82% | 37.31% | 48.33% | 44.29% | - |
| Operating Expenses | 946.6M | 998.28M | 744.61M | 755.67M | 394.88M | 278.63M | 232.47M | 183.34M | 131.52M | 92.64M | 74.27M |
| OpEx % of Revenue | - | 93.17% | 86.42% | 108.02% | 87.74% | 76.28% | 80.58% | 73.65% | 70.69% | 69.97% | 77.89% |
| Selling, General & Admin | 729.22M | 775.32M | 574.88M | 574.89M | 275.35M | 207.44M | 176.35M | 140.18M | 98.19M | 68.29M | 54.3M |
| SG&A % of Revenue | - | 72.36% | 66.72% | 82.18% | 61.18% | 56.79% | 61.12% | 56.32% | 52.78% | 51.57% | 56.95% |
| Research & Development | 217.38M | 222.96M | 169.73M | 180.78M | 119.53M | 71.19M | 56.12M | 43.15M | 33.33M | 24.36M | 19.96M |
| R&D % of Revenue | - | 20.81% | 19.7% | 25.84% | 26.56% | 19.49% | 19.45% | 17.34% | 17.91% | 18.4% | 20.94% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -202.35M | -307.49M | -188.73M | -332.73M | -60.29M | 877K | -9.43M | 10.91M | 9.94M | 2.73M | -8.17M |
| Operating Margin % | -18.05% | -28.7% | -21.9% | -47.56% | -13.4% | 0.24% | -3.27% | 4.38% | 5.34% | 2.06% | -8.57% |
| Operating Income Growth % | - | -62.92% | 43.28% | -451.87% | -6974.69% | 109.3% | -186.44% | 9.76% | 264.35% | 133.39% | - |
| EBITDA | 9.47M | -96.71M | 48.51M | -69.09M | -37.5M | 19.17M | -3.21M | 21.65M | 39.97M | 12.71M | 1.45M |
| EBITDA Margin % | 0.84% | -9.03% | 5.63% | -9.88% | -8.33% | 5.25% | -1.11% | 8.7% | 21.48% | 9.6% | 1.52% |
| EBITDA Growth % | 103.35% | -299.35% | 170.22% | -84.24% | -295.65% | 698.03% | -114.8% | -45.83% | 214.44% | 778.44% | - |
| D&A (Non-Cash Add-back) | 211.81M | 210.77M | 237.25M | 263.64M | 22.79M | 18.29M | 6.23M | 10.74M | 30.02M | 9.98M | 9.62M |
| EBIT | -199.22M | -301.36M | -189.98M | -325.29M | -60.38M | 2.93M | -15.66M | 0 | -20.08M | 0 | 0 |
| Net Interest Income | 8.1M | -13.85M | -182.49M | -123M | -1.95M | -16.59M | -2.57M | 0 | 0 | 0 | 0 |
| Interest Income | 10.61M | 10.79M | 4.16M | 10.66M | 730K | 2.02M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.51M | 24.64M | 186.65M | 133.66M | 2.68M | 18.61M | 2.57M | 0 | -14.78M | 0 | 0 |
| Other Income/Expense | 619K | -18.51M | -187.9M | -179.62M | -2.77M | -16.56M | -3.65M | -6.15M | -15.24M | -7.89M | -5.25M |
| Pretax Income | -201.73M | -326M | -376.63M | -512.35M | -63.06M | -15.68M | -13.09M | 4.76M | -5.3M | -5.16M | -13.42M |
| Pretax Margin % | -17.99% | -30.43% | -43.71% | -73.24% | -14.01% | -4.29% | -4.54% | 1.91% | -2.85% | -3.9% | -14.07% |
| Income Tax | -44.31M | -55.95M | -60.8M | -116.98M | 99K | -4.92M | -4.59M | 1.09M | 2.29M | -1.99M | -2.61M |
| Effective Tax Rate % | 21.97% | 17.16% | 16.14% | 22.83% | -0.16% | 31.37% | 35.06% | 22.9% | -43.27% | 38.48% | 19.48% |
| Net Income | -157.42M | -270.05M | -315.83M | -395.37M | -61.63M | -10.76M | -8.5M | 3.67M | -7.59M | -3.17M | -10.81M |
| Net Margin % | -14.04% | -25.21% | -36.66% | -56.52% | -13.7% | -2.95% | -2.95% | 1.47% | -4.08% | -2.4% | -11.33% |
| Net Income Growth % | 72.53% | 14.49% | 20.12% | -541.48% | -472.65% | -26.62% | -331.61% | 148.34% | -139.27% | 70.64% | - |
| Net Income (Continuing) | -157.42M | -270.05M | -315.83M | -395.37M | -63.16M | -10.76M | -8.5M | 3.67M | -7.59M | -3.17M | -10.81M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.28 | -0.52 | -1.98 | -7.07 | -0.66 | -0.12 | -0.10 | 0.04 | -0.15 | -0.05 | -0.15 |
| EPS Growth % | 6.9% | 73.74% | 71.99% | -971.21% | -450% | -25.52% | -334.31% | 127.2% | -225.38% | 69.27% | - |
| EPS (Basic) | - | -0.52 | -1.98 | -7.07 | -0.66 | -0.12 | -0.10 | 0.04 | -0.15 | -0.05 | -0.15 |
| Diluted Shares Outstanding | 564.55M | 561.89M | 546.56M | 138.43M | 93.7M | 90.51M | 88.91M | 90M | 52.34M | 68.89M | 72.24M |
| Basic Shares Outstanding | 564.55M | 561.89M | 546.56M | 138.43M | 93.7M | 90.51M | 88.91M | 90M | 52.34M | 68.89M | 72.24M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
SaaS transition margin compression
According to the latest quarterly filings, SailPoint maintained a 21.6% revenue growth rate in 2027Q1, reflecting a consistent expansion trajectory as the firm pivots its legacy IdentityIQ customer base toward the recurring revenue model of the Identity Security Cloud platform despite ongoing market competition.
The revenue growth appears resilient, suggesting that the company's core identity governance offerings remain essential for enterprise compliance. However, investors should monitor whether this growth is being artificially supported by professional services revenue, which may mask the underlying velocity of the cloud-native subscription transition.
As reported in recent financial statements, SailPoint's gross margin of 64.7% in 2027Q1 highlights the ongoing cost burden of supporting dual-architecture environments, which remains significantly lower than the 80% thresholds typically achieved by mature, pure-play SaaS competitors in the broader identity security software landscape.
The current margin profile suggests that the company is absorbing significant hosting and implementation costs as it scales its cloud infrastructure. This structural drag on profitability appears to be a direct consequence of the transition from perpetual licensing to a ratable subscription model, warranting further investigation into long-term margin expansion potential.
Based on the provided income statement data, SailPoint continues to face substantial operating headwinds, with SG&A expenses reaching $199.3M in 2027Q1, which significantly outweighs the gross profit generated and underscores the aggressive investment required to maintain market share against both legacy and cloud-native security rivals.
The high level of SG&A spending suggests that management is prioritizing customer acquisition and market penetration over immediate bottom-line results. This expense discipline appears to be a deliberate, albeit costly, strategy to secure a dominant position in the complex identity governance market before competitors can erode the moat.
Analysis of the income statement reveals that SailPoint's earnings quality is heavily impacted by significant stock-based compensation, which totaled $69.1M in 2027Q1, effectively exacerbating the reported net loss of $74.7M and complicating the assessment of true operational profitability for prospective institutional investors.
The reliance on equity-based incentives appears to be a primary driver of the disconnect between the company's top-line growth and its persistent bottom-line deficits. Investors should monitor the sustainability of this compensation structure, as it may indicate a reliance on non-cash expenses to retain talent during a period of intense operational transformation.
While SailPoint maintains a strong competitive moat in complex identity governance, the persistent negative operating margin of 28.5% in 2027Q1 invites skepticism regarding the company's ability to scale efficiently against platform-integrated competitors like Microsoft, which may offer bundled identity solutions at a lower total cost.
The risk remains that the company's specialized focus may be insufficient to defend against broader platform players that do not require the same level of deep, custom integration. This potential for margin compression warrants further investigation into whether the company can achieve sustainable profitability before its current cash reserves are exhausted.
Quick answers to the most common questions about buying SAIL stock.
For fiscal year 2026, SailPoint, Inc. (SAIL) reported total revenue of $1.07B. This represents a 1023.6% increase compared to $95.4M in 2016.
SailPoint, Inc. (SAIL) reported a net loss of $270.1M for the fiscal year ending 2026.
SailPoint, Inc. (SAIL) reported an operating income of $-307.5M, resulting in an operating profit margin of -28.7%. This margin reflects the operational efficiency of the business before interest and taxes.
SailPoint, Inc. (SAIL) generated $690.8M in gross profit for the year, representing a gross profit margin of 64.5%. This demonstrates the company's core pricing power and production efficiency.