SailPoint Parent, LP (SAIL) shares plummeted 5.00% in pre-market trading on Wednesday following the release of its fourth-quarter 2024 financial results. The company reported a significant earnings per share (EPS) miss, overshadowing its revenue beat and positive guidance for the upcoming quarters.

SailPoint's Q4 2024 GAAP EPS came in at $(4.29), falling far short of the estimated $(0.11). This substantial miss likely spooked investors, leading to the sharp decline in stock price. However, the company did report Q4 sales of $240.121 million, surpassing the estimated $235.260 million. The total revenue for Q4 represented an 18% year-over-year increase, showcasing the company's continued growth trajectory.

Looking ahead, SailPoint provided guidance for both the first quarter and full fiscal year 2026. For Q1 2026, the company expects adjusted EPS in the range of $(0.02) to $0.00 per share, which is slightly better than the FactSet estimate of $(0.03). The company also projected Q1 total revenue between $224 million and $226 million. For the full fiscal year 2026, SailPoint anticipates total revenue in the range of $1,025 to $1,035 million, representing 19% to 20% year-over-year growth, and adjusted EPS between $0.14 and $0.18 per diluted share. Despite this positive outlook, the market seems to be focusing on the recent earnings miss, resulting in the pre-market decline.