Benzinga | May 10, 2021 04:52PM EDT

SailPoint Sees Q2 Sales $98M-$100M vs $98.75M Est., Adj. EPS $(0.07)-$(0.05) vs $0.00 Est.; Sees FY21 Adj. EPS $(0.13)-$(0.05) vs $(0.03) Est., Sales $404M-$412M vs $411.1M Est.

Financial Outlook:

"We are pleased to be able to raise our outlook for full year total ARR and SaaS revenue," said Jason Ream, SailPoint CFO, "and the strength of our recurring revenue business allows us to maintain our outlook for full year total revenue despite an acceleration in our shift from license to SaaS."

For the second quarter of 2021, SailPoint expects:

* Total ARR in the range of $288.0 million to $290.0 million

* Revenue in the range of $98.0 million to $100.0 million

* Non-GAAP loss from operations in the range of $(8.0) million to $(6.0) million

* Non-GAAP net loss per basic and diluted common share in the range of $(0.07) to $(0.05), based on an estimated non-GAAP income tax rate of 24% and 92.0 million basic and diluted common shares outstanding. Expectations of non-GAAP loss from operations and non-GAAP net loss per basic and diluted common share exclude items outlined in the "Non-GAAP Financial Measures" section below. For the full year 2021, SailPoint expects: Total ARR in the range of $340.0 million to $345.0 million Revenue in the range of $404.0 million to $412.0 million SaaS revenue in the range of $102.0 million to $105.0 million Non-GAAP loss from operations in the range of $(15.0) million to $(5.0) million Non-GAAP net loss per basic and diluted common share in the range of $(0.13) to $(0.05), based on an estimated non-GAAP income tax rate of 24% and 94.0 million basic and diluted common shares outstanding. Expectations of non-GAAP loss from operations and non-GAAP net loss per basic and diluted common share exclude items outlined in the "Non-GAAP Financial Measures" section below. These statements regarding SailPoint's expectations of its financial outlook are forward-looking and actual results may differ materially. Refer to "Forward-Looking Statements" below for information on the factors that could cause its actual results to differ materially from these forward-looking statements.