By Nate Wolf

SailPoint stock was surging in premarket trading Monday after the cybersecurity company beat quarterly earnings expectations and lifted its outlook for the remainder of the fiscal year.

The company posted adjusted earnings of 1 cent a share on $230.5 million in revenue for its fiscal first quarter, beating Wall Street's call for a loss of 1 cent and revenue of $225.2 million. Annual recurring revenue, or ARR, came in at $925 million, well above the company's own forecast range of $896 million to $900 million.

SailPoint lifted its ARR expectations for the current fiscal year to a range of $1.095 billion to $1.105 billion from a previous range of $1.075 billion to $1.085 billion. The company also boosted adjusted earnings guidance by 2 cents a share to a range of 16 cents to 20 cents.

Shares were up 11% to $21.78 on Wednesday.

"We delivered another strong quarter, driven by continued expansion across our customer base and strong adoption among Fortune 500 and Forbes Global 2000 companies," founder and CEO Mark McClain said in a statement.

SailPoint, which has struggled to make a profit over its 20-year history, was the tech industry's first initial public offering of the year in mid-February. The stock surged 12% in its first two days of trading but remains down from its offering price of $23 a share.

Write to Nate Wolf at nate.wolf@barrons.com

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June 11, 2025 09:07 ET (13:07 GMT)

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