SailPoint, Inc. (SAIL) AI Stock Analysis

• Market Cap: $8.39B
• Dividend Yield: N/A
• Average Volume (3M): 1.93M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.54
• Revenue Growth: 23.38%
• EPS Growth: -30.16%
• Country: US
• Employees: 2,738
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.08
• Shares Outstanding: 561,625,730
• 10 Day Avg. Volume: 2,849,646
• 30 Day Avg. Volume: 1,930,207
• PEG Ratio: 0.53
• Price to Book (P/B): -2.15
• Price to Sales (P/S): 13.96
• P/FCF Ratio: -100.23
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 7.97
• Enterprise Value/Gross Profit: 12.07
• Enterprise Value/Ebitda: 179.87
• 1Y Price Target: $26.89
• Price Target Upside: 80.11% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $16.50 ▲(10.52% Upside)

The score is primarily constrained by weak financial performance: ongoing losses, negative operating/free cash flow, and a notably fragile balance sheet with no stockholders’ equity. Technical indicators also lean bearish with the price below key moving averages and a negative MACD. Valuation is pressured by the negative P/E and lack of dividend support.

Positive Factors

Recurring SaaS revenue model

A cloud-based SaaS model creates durable, contracted recurring revenue and improves visibility into future cash flows. Over time this supports higher customer lifetime value, predictable renewal-driven growth, and scalable margins via software delivery, aiding long-term business resilience.

Multi-year revenue growth and ARR scale

Sustained top-line expansion and an ARR milestone indicate strong product-market fit and enterprise adoption. Scale benefits include larger up-sell opportunities, stickier enterprise contracts, and better leverage of R&D and sales investments, supporting durable competitive positioning.

Product innovation and flexible pricing

Introducing flexible purchasing pathways reduces adoption friction across customer sizes and use cases. This structural change can expand addressable market, improve conversion and retention, and enable tailored monetization that sustains recurring revenue growth long term.

Negative Factors

Fragile balance sheet / no equity

A near-zero shareholders' equity position signals elevated insolvency risk and weak financial buffer. This limits the company's ability to absorb shocks, finance growth organically, or pursue M&A without dilutive or costly external financing, constraining strategic flexibility.

Negative operating and free cash flow

Persistent negative operating and free cash flow undermines internal funding for R&D, sales, and customer success. Over months this increases reliance on external financing, raises cost of capital, and can force prioritization of short-term liquidity over long-term product investments.

Consistent net losses and negative EBIT margins

Ongoing operating losses indicate the business has yet to convert strong gross margins into sustainable profitability. Without durable margin improvement, profitability timelines remain uncertain, limiting free cash generation and pressuring long-term shareholder returns.

SailPoint, Inc. Business Overview & Revenue Model

Company Description

SailPoint, Inc. provides solutions to enable various identity security for the enterprise in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its solutions address various types of systems and identities, including data and applications, employee identities, non-employee identities, and machine identities, as well as enable smarter access decisions, improve business processes, and provide deeper understanding of identity and access. The company offers Identity Security Cloud, a SaaS-based cloud solution to manage and secure access to critical data and applications for enterprise identities; and IdentityIQ, a customer-hosted identity security solution. The company was founded in 2005 and is based in Austin, Texas.

How the Company Makes Money

SailPoint generates revenue primarily through the sale of its software solutions and subscription services. The company employs a SaaS (Software as a Service) model, which allows clients to access their identity management platform via the cloud, leading to recurring revenue streams through annual subscriptions and maintenance fees. Additionally, SailPoint offers professional services, including implementation, training, and support, which contribute to its overall revenue. Key partnerships with major cloud service providers and IT consulting firms enhance its market reach and bolster its sales efforts, further driving growth and profitability.

SailPoint, Inc. Financial Statement Overview

Summary

Strong multi-year revenue growth is outweighed by persistent net losses and negative EBIT margins, negative operating/free cash flow, and a weakened balance sheet marked by the absence of stockholders’ equity and high liabilities.

Income Statement

SailPoint, Inc. has shown strong revenue growth from $288.5 million in 2019 to $861.6 million in 2025, indicating a positive growth trajectory. However, the company has consistently reported negative net income and EBIT margins, which highlight ongoing profitability challenges. The gross profit margin has remained robust, but the persistence of net losses is a concern.

Balance Sheet

The balance sheet reveals a concerning absence of stockholders' equity in recent years, leading to an undefined debt-to-equity ratio. High total liabilities and the absence of equity suggest significant financial risk. The equity ratio has also deteriorated from 46.9% in 2019 to 0% in 2025, indicating a weakened financial position.

Cash Flow

Cash flow analysis indicates a negative free cash flow trend, with significant shortfalls in recent years. Operating cash flow remains negative, further straining financial flexibility. The company has been unable to generate positive free cash flow, which is a critical concern for sustainability.

Breakdown	Dec 2025	Dec 2024	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	861.61M	699.57M	450.04M	365.25M	288.51M
Gross Profit	555.88M	422.94M	334.59M	279.51M	223.04M
EBITDA	47.27M	-61.65M	-37.59M	21.22M	-9.43M
Net Income	-315.83M	-395.37M	-61.63M	-10.76M	-8.50M
Balance Sheet
Total Assets	7.41B	7.59B	1.16B	1.08B	990.08M
Cash, Cash Equivalents and Short-Term Investments	121.29M	211.65M	435.44M	510.29M	443.80M
Total Debt	1.05B	1.59B	413.99M	359.75M	351.04M
Total Liabilities	13.00B	8.13B	755.60M	610.99M	555.95M
Stockholders Equity	-5.59B	-541.20M	404.24M	464.61M	434.13M
Cash Flow
Free Cash Flow	-119.97M	-254.83M	-12.88M	53.95M	43.54M
Operating Cash Flow	-106.39M	-250.35M	-8.85M	57.95M	50.09M
Investing Cash Flow	-28.94M	-12.66M	-74.95M	-3.97M	-38.91M
Financing Cash Flow	41.26M	50.43M	1.47M	12.55M	361.70M

SailPoint, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.93
• 50DMA: Negative
• 100DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SAIL, the sentiment is Negative. The current price of 14.93 is below the 20-day moving average (MA) of 19.42, below the 50-day MA of 21.22, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.85 indicates Positive momentum. The RSI at 38.83 is Neutral, neither overbought nor oversold. The STOCH value of 45.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SAIL.

SailPoint, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MDB	75 Outperform	$27.48B	-382.77	-3.23%	―	20.93%	68.47%
AKAM	73 Outperform	$13.22B	26.95	10.64%	―	4.21%	-0.63%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
OKTA	60 Neutral	$14.78B	76.59	2.96%	―	12.12%	―
CYBR	57 Neutral	$20.55B	-139.08	-6.16%	―	43.26%	-1651.82%
VRNS	54 Neutral	$2.79B	-20.88	-24.53%	―	11.37%	-34.44%
SAIL	42 Neutral	$8.39B	-13.19	-10.58%	―	23.38%	-30.16%