AUSTIN, Texas (AP) _ SailPoint Technologies Holdings Inc. (SAIL) on Tuesday reported a loss of $9.2 million in its second quarter.
The Austin, Texas-based company said it had a loss of 10 cents per share. Losses, adjusted for one-time gains and costs, came to 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The identity governance software developer posted revenue of $63.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $60.4 million.
SailPoint Technologies expects full-year earnings in the range of 12 cents to 13 cents per share, with revenue in the range of $278.5 million to $281.5 million.
SailPoint Technologies shares have dropped 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.32, a drop of 25% in the last 12 months.