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SailPoint Inc. (SAIL-1.91%) has submitted its 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenue of $861.6 million, an increase from $699.6 million in the previous year. Subscription revenue accounted for the majority, with SaaS revenue showing significant growth.
Cost of revenue was $305.7 million, leading to a gross profit of $555.9 million. The gross profit margin increased to 65% from 60% in the prior year.
Operating expenses totaled $744.6 million, with sales and marketing expenses being the largest component. Research and development expenses decreased slightly.
The company reported a net loss of $315.8 million, compared to a net loss of $395.4 million in the previous year.
Cash used in operating activities was $106.4 million, a decrease from $250.4 million in the prior year. Cash and cash equivalents stood at $121.3 million as of January 31, 2025.
SailPoint's ARR grew to $876.7 million, with SaaS ARR reaching $540.3 million, reflecting a strategic focus on SaaS offerings.
The company completed an IPO in February 2025, raising approximately $1,249.1 million in net proceeds, which were used in part to repay debt.
SailPoint's management highlighted continued investment in AI and identity security solutions as part of its growth strategy.
The company is subject to various risks, including competition, cybersecurity threats, and regulatory changes, as outlined in the risk factors section of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SailPoint Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.