# SailPoint, Inc. (SAIL)

> Source: Nexqual · https://nexqual.com/SAIL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SailPoint, Inc. (SAIL), nexqual.com/SAIL" · informational, not investment advice.

**Price:** USD 20.06 (+1.93% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 19.68 · day 19.47–20.15 · 52w 10.3–23.05 · market cap $11.5B · NMS

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $1.17B, net income -$197M (-16.9% margin), free cash flow $195M (SEC filings).
- Insider open-market sales, last ~7 months: 24 Form 4 filings, $24.6M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.07 on a 1–5 scale) (27 analysts), mean target USD 21.88 (range 10–30).
- Total return with dividends: 1Y -9.8% vs S&P 500 +14.9%; 5Y -18.3% vs S&P 500 +80.3%.
- Next earnings: 2026-09-09, EPS estimate USD 0.08, revenue estimate $328M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|
| Revenue | $700M | $862M | $1.07B | $1.17B |
| Gross profit | $423M | $556M | $691M | — |
| Operating income | -$333M | -$189M | -$307M | -$221M |
| Net income | -$395M | -$316M | -$270M | -$197M |
| EPS (diluted) | -$12.13 | -$12.91 | -$0.54 | — |
| Free cash flow | -$253M | -$112M | $64.6M | $195M |
| Gross margin | 60.5% | 64.5% | 64.5% | — |
| Operating margin | -47.6% | -21.9% | -28.7% | -18.9% |
| Net margin | -56.5% | -36.7% | -25.2% | -16.9% |
| Revenue growth | — | +23.2% | +24.4% | — |
| Cash + short-term investments | $212M | $121M | $358M | — |
| Total debt | — | $1.02B | $0K | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/S 9.8x · P/FCF 58.8x · P/B 1.7x · FCF yield 1.70% · Earnings yield -1.72%

## Insider sales (SEC Form 4, open-market, last ~7 months)
24 of 24 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-08 | Rezvan Mitra | Chief Accounting Officer | 1,168 | $23K | 0.7% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-10-06…2026-10-07 | McClain Mark D. | Chief Executive Officer | 219,249 | $4.4M | 2.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-06…2026-10-07 | Rezvan Mitra | Chief Accounting Officer | 7,087 | $141K | 3.9% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-10-06…2026-10-07 | Carolan Brian | Chief Financial Officer | 81,361 | $1.6M | 4.8% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-06…2026-10-07 | Mills Matt | President | 80,665 | $1.6M | 3.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-06…2026-10-07 | Payne Abby | Chief People Officer | 39,963 | $800K | 3.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-06…2026-10-07 | Gnanasambandam Chandrasekar | EVP Product & CTO | 35,687 | $712K | 3.8% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-06…2026-10-07 | Schmitt Christopher | General Counsel and Secretary | 44,410 | $889K | 3.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-13 | Rezvan Mitra | Chief Accounting Officer | 1,214 | $24K | 0.7% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07…2026-07-08 | McClain Mark D. | Chief Executive Officer | 211,454 | $3.4M | 2.5% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07…2026-07-08 | Carolan Brian | Chief Financial Officer | 78,470 | $1.2M | 4.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07…2026-07-08 | Rezvan Mitra | Chief Accounting Officer | 6,835 | $108K | 3.6% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-07-07…2026-07-08 | Payne Abby | Chief People Officer | 38,541 | $613K | 3.1% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07…2026-07-08 | Gnanasambandam Chandrasekar | EVP Product & CTO | 34,418 | $544K | 3.6% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07…2026-07-08 | Mills Matt | President | 77,797 | $1.2M | 3.2% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07…2026-07-08 | Schmitt Christopher | General Counsel and Secretary | 42,830 | $681K | 3.2% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-01 | Rezvan Mitra | Chief Accounting Officer | 7,487 | $150K | 3.8% | Yes (adopted December 26, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-04-07…2026-04-09 | Rezvan Mitra | Chief Accounting Officer | 6,836 | $83K | 3.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-04-07…2026-04-09 | Carolan Brian | Chief Financial Officer | 84,416 | $1.0M | 4.5% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-07…2026-04-09 | Mills Matt | President | 83,688 | $1.0M | 3.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.07 on a 1–5 scale), 27 analysts; mean target USD 21.88 (low 10, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Cantor Fitzgerald | Target raised | Overweight | $25 → $27 |
| 2026-10-08 | Amerx | Initiated | Hold |  |
| 2026-10-08 | Baird | Target raised | Outperform | $22 → $25 |
| 2026-10-07 | Oppenheimer | Initiated | Outperform | $30 |
| 2026-10-05 | Scotiabank | Target raised | Sector Outperform | $22 → $24 |
| 2026-10-02 | Keybanc | Initiated | Sector Weight |  |
| 2026-09-24 | Truist Securities | Target raised | Buy | $23 → $27 |
| 2026-09-18 | B of A Securities | Target raised | Neutral | $19 → $22 |
| 2026-09-10 | Scotiabank | Target raised | Sector Outperform | $19 → $22 |
| 2026-09-10 | Roth Capital | Target raised | Buy | $19 → $21 |
| 2026-09-10 | Evercore ISI Group | Target raised | Outperform | $18 → $22 |
| 2026-09-10 | DA Davidson | Maintained | Neutral | $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2025-02-10) |
|---|---|---|
| Total return | -9.8% | -18.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -9.8% | -11.2% |
| Volatility (annualized) | 63.9% | 62.5% |
| Max drawdown | -54.0% (Oct 2025→Apr 2026) | -57.3% (Feb 2025→Apr 2026) |

## Peers (Software - Infrastructure)
DOCN (DigitalOcean Holdings, Inc.) USD 92 -9.34% · PAYP (PayPay Corporation - American D) USD 15.21 -0.91% · AKAM (Akamai Technologies, Inc.) USD 91.13 +0.95% · GTLB (GitLab Inc.) USD 54.53 -1.66% · GDDY (GoDaddy Inc.) USD 114.73 +6.02% · NTSK (Netskope, Inc.) USD 22.2 +1.79%

## More
Full page: https://nexqual.com/SAIL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SAIL's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/2030781/000203078126000003/sail-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | "Solutions from companies such as AWS, Palo Alto Networks (CyberArk), Proofpoint, SAP, and ServiceNow that are plugged into our open identity platform through APIs provide our customers value-added capabilities to build a…" |
| Customer | SAP (SAP) | "Solutions from companies such as AWS, Palo Alto Networks (CyberArk), Proofpoint, SAP, and ServiceNow that are plugged into our open identity platform through APIs provide our customers value-added capabilities to build a…" |
| Customer | ServiceNow (NOW) | "Solutions from companies such as AWS, Palo Alto Networks (CyberArk), Proofpoint, SAP, and ServiceNow that are plugged into our open identity platform through APIs provide our customers value-added capabilities to build a…" |
| Partner | Accenture (ACN) | "We partner with many large and global system integrators including Accenture, Capgemini, Deloitte, KPMG, and PwC, as well as many regional system integrators." |
| Competitor | IBM (IBM) | "Our competitors include large public companies, such as IBM, Microsoft, and Oracle that offer identity solutions within their product portfolios, and identity centric solution providers, including Palo Alto Networks (Cyb…" |
| Competitor | Microsoft (MSFT) | "Our competitors include large public companies, such as IBM, Microsoft, and Oracle that offer identity solutions within their product portfolios, and identity centric solution providers, including Palo Alto Networks (Cyb…" |
| Competitor | Oracle (ORCL) | "Our competitors include large public companies, such as IBM, Microsoft, and Oracle that offer identity solutions within their product portfolios, and identity centric solution providers, including Palo Alto Networks (Cyb…" |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $295.2M | 95.6% | +19.1% |
| — SaaS (part of Subscription) | $193.9M | 62.8% | +33.9% |
| — Term subscriptions (part of Subscription) | $56.2M | 18.2% | -3.3% |
| — Maintenance and support (part of Subscription) | $35.5M | 11.5% | -7.8% |
| — Other subscription services (part of Subscription) | $9.7M | 3.1% | +46.8% |
| Services and other | $13.6M | 4.4% | -17.1% |
| Total revenue | $308.8M | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $205.1M | 66.4% | +20.4% |
| EMEA  | $62.5M | 20.2% | +6.6% |
| Rest of the World | $41.2M | 13.3% | +16.4% |
| Total revenue | $308.8M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.08 | $0.08 | -4.1% | $328.4M | 26 |
| Next quarter (ends 2027-01-31) | $0.11 | $0.11 | +0.1% | $353.4M | 25 |
| Current fiscal year (ends 2027-01-31) | $0.33 | $0.32 | +0.6% | $1.27B | 27 |
| Next fiscal year (ends 2028-01-31) | $0.40 | $0.40 | +0.8% | $1.51B | 27 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 61.8% | ±13.7% |
| 2026-12-18 | 56 | 60.9% | ±18.9% |
| 2027-03-19 | 147 | 66.4% | ±33.0% |
| 2027-06-17 | 237 | 75.4% | ±46.4% |
| 2027-09-17 | 329 | 67.7% | ±48.5% |