Strong Annual Recurring Revenue (ARR) Growth
SailPoint closed the quarter with $982 million in ARR, representing a 28% year-over-year increase. SaaS ARR grew by 37% year-over-year.
Expansion in Large Accounts
There was a 48% year-over-year increase in customers with ARR greater than $1 million, demonstrating strong engagement from large enterprises.
Record New Logo ARR
Q2 was SailPoint's largest new logo ARR quarter ever, primarily driven by SaaS, with a 30% increase in average ARR per new SaaS customer.
High Operating Margin and Cash Flow
Adjusted operating margins expanded by 980 basis points to 20.4%, and the company generated a record $50 million of cash flow from operating activities.
Product Innovation and Expansion
SailPoint introduced new products like SailPoint Machine Identity Security and announced the acquisition of key assets from Saviynt, expected to enhance SaaS application visibility and identity risk detection.