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SailPoint Technologies: 2Q Earnings Snapshot

AUSTIN, Texas (AP) _ SailPoint Technologies Holdings Inc. (SAIL) on Wednesday reported a loss of $5.6 million in its second quarter.

The Austin, Texas-based company said it had a loss of 7 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 3 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The identity governance software developer posted revenue of $54.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $50 million.

For the current quarter ending in October, SailPoint Technologies expects its results to range from a loss of 2 cents per share to a loss of 1 cent per share.

The company said it expects revenue in the range of $54.5 million to $55.5 million for the fiscal third quarter.

SailPoint Technologies expects full-year earnings in the range of 12 cents to 14 cents per share, with revenue ranging from $233 million to $236 million.

SailPoint Technologies shares have risen 78 percent since the beginning of the year.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAIL at https://www.zacks.com/ap/SAIL