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SailPoint Technologies: 3Q Earnings Snapshot

·1 min read

AUSTIN, Texas (AP) _ SailPoint Technologies Holdings Inc. (SAIL) on Thursday reported a third-quarter loss of $676,000, after reporting a profit in the same period a year earlier.

On a per-share basis, the Austin, Texas-based company said it had a loss of 1 cent. Earnings, adjusted for stock option expense and amortization costs, came to 11 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The identity governance software developer posted revenue of $94 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $83.6 million.

For the current quarter ending in December, 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 $93 million to $95 million for the fiscal fourth quarter.

SailPoint Technologies expects full-year earnings in the range of 27 cents to 29 cents per share, with revenue ranging from $355 million to $357 million.

SailPoint Technologies shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.22, more than doubling in the last 12 months.

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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