Stock Monitor: GSE Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 15, 2018 / If you want access to our free earnings report on SailPoint Technologies Holdings, Inc. (NYSE: SAIL) ("SailPoint"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SAIL. The Company reported its financial results on May 09, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The leader in enterprise identity governance surpassed analysts' estimates for revenues and earnings in Q1 FY18. Additionally, the Company raised its guidance for the second quarter of 2018 and for the full fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the first quarter ended March 31, 2018, SailPoint's revenues grew 40.2% to $49.7 million from $35.5 million in the first quarter of 2017. The Company's total revenue numbers for the reported quarter topped market consensus estimates of $44.7 million.
During Q1 FY18, SailPoint incurred cost of revenues of $12.8 million compared to $10.1 million in Q1 FY17, increasing 26% on a y-o-y basis. The Company's gross profit improved 46% to $36.9 million in the reported quarter compared to $25.3 million in the prior year's same period.
SailPoint's total operating expenses increased 64.15% to $41.2 million in Q1 FY18 compared to $25.1 million in Q1 FY17. The Company reported an operating loss of $4.3 million in Q1 FY18 compared to an income from operations of $199 thousand in Q1 FY17. The Company's non-GAAP income from operations increased 19.2% to $3.1 million in the reported quarter versus $2.6 million in the year ago comparable period.
For the reported quarter, SailPoint's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $3.3 million compared to $3.2 million in the corresponding period of the prior fiscal year.
SailPoint posted a net loss of $6.0 million in the reported quarter compared to $2.3 million in the prior year's same quarter. The Company's non-GAAP net income was $1.7 million in Q1 FY18 compared to a non-GAAP net loss of $0.1 million in Q1 FY17.
SailPoint reported a net loss per share of $0.07 in Q1 FY18 compared to a loss of $0.18 in Q1 FY17. The Company's adjusted earnings per share (EPS) were $0.02 in the reported quarter, beating analysts' estimates for a loss of $0.03.
As of March 31, 2018, SailPoint's cash and cash equivalents stood at $130.9 million compared to $116.0 million as of December 31, 2017. The Company generated a cash inflow from operating activities of $15.3 million in Q1 FY18 compared to $6.9 million in Q1 FY17.
For Q2 FY18, SailPoint expects revenues to be in the range of $49.5 million to $50.5 million, and non-GAAP net loss per share to be in the band of $0.03 to $0.02. The Company anticipates non-GAAP income/loss from operations to be in the range of negative $0.5 million to positive $0.5 million for Q2 FY18.
For FY18, SailPoint anticipates revenues to be in the band of $225.0 million to $229.0 million, and non-GAAP net income per share to be in the range of $0.07 to $0.09. The Company expects non-GAAP income from operations to be in the band of $14.0 million to $16.0 million.
Stock Performance Snapshot
June 14, 2018 - At Thursday's closing bell, SailPoint Technologies' stock slightly declined 0.28%, ending the trading session at $28.15.
Volume traded for the day: 661.66 thousand shares.
Stock performance in the last month – up 23.74%; previous three-month period – up 30.32%; past six-month period – up 90.07%; and year-to-date – up 94.14%
After yesterday's close, SailPoint Technologies' market cap was at $2.43 billion.
The stock is part of the Technology sector, categorized under the Business Software & Services industry. This sector was up 0.8% at the end of the session.
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