SailPoint Technologies Holdings, Inc. (SAIL) Tops Q4 EPS by 9c, Beats on Revenues; Offers FY18 EPS/Revenues Guidance Above Consensus

SailPoint Technologies Holdings, Inc. (NYSE: SAIL) reported Q4 EPS of $0.17, $0.09 better than the analyst estimate of $0.08. Revenue for the quarter came in at $67.8 million versus the consensus estimate of $55.5 million.

Financial Highlights for Fourth Quarter 2017:

• Revenue: Total revenue was $67.8 million, a 53% increase over Q4 2016. License revenue was $36.7 million, a 65% increase over Q4 2016. Subscription revenue was $21.2 million, a 51% increase over Q4 2016. Services and other revenue was $9.9 million, a 23% increase over Q4 2016.
• Operating Income: Income from operations was $10.5 million, compared to $8.4 million in Q4 2016. Non-GAAP income from operations was $16.7 million, compared to $10.9 million in Q4 2016.
• Net Income: Net income was $5.4 million, compared to $3.3 million in Q4 2016. Net income available to common shareholders per diluted share was $0.03, compared to net loss available to common shareholders per basic and diluted share of $(0.06) in Q4 2016.Non-GAAP net income was $13.1 million, compared to $7.9 million in Q4 2016. Non-GAAP net income per diluted share was $0.17, compared to $0.11 in Q4 2016.
• Adjusted EBITDA: Adjusted EBITDA was $17.1 million, compared to $11.5 million in Q4 2016.

Financial Outlook:

For the first quarter of 2018, SailPoint expects:

• Revenue in the range of $44 million to $45 million
• Non-GAAP loss from operations in the range of $(0.5) million to $(1.5) million
• Non-GAAP net loss per basic and diluted common share in the range of $(0.03) to $(0.04), based on estimated cash income tax payments of $0.4 million and 86.5 million basic and diluted common shares outstanding. Expectations of non-GAAP loss from operations and non-GAAP net loss per basic and diluted common share exclude stock-based compensation expense and amortization of acquired intangibles.

For the full year 2018, SailPoint expects:

• Revenue in the range of $220 million to $224 million
• Non-GAAP income from operations in the range of $12 million to $14 million
• Non-GAAP net income per diluted common share in the range of $0.04 to $0.06, based on estimated cash income tax payments of $1.8 million and 93 million diluted common shares outstanding. Expectations of non-GAAP income from operations and non-GAAPnet income per diluted common share exclude stock-based compensation expense and amortization of acquired intangibles.

GUIDANCE:

SailPoint Technologies Holdings, Inc. sees FY2018 EPS of $0.04-$0.06, versus the consensus of $0.03. SailPoint Technologies Holdings, Inc. sees FY2018 revenue of $220-224 million, versus the consensus of $216.46 million.

For earnings history and earnings-related data on SailPoint Technologies Holdings, Inc. (SAIL) click here.

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