SailPoint Inc.
(NASDAQ:SAIL) stock fell sharply on Tuesday after the identity security software company issued a fiscal second-quarter outlook that pointed to slowing growth, overshadowing first-quarter results that topped Wall Street expectations.
Identity Security Demand Lifts Revenue, Earnings 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.
