SailPoint

Q2 FY2027 EarningsQ2 FY27 results marginally missed revenue consensus while delivering a significant beat on normalized profitability. Total revenue of $308.8M slightly trailed the $310.3M expectation, despite 34% YoY growth in SaaS. Non-GAAP performance was robust, with normalized net income reaching $74.7M (derived from GAAP loss adjusted for $68.3M SBC and $51.0M amortization), significantly exceeding the $44.4M consensus. Management continues to prioritize the SaaS-first transition, evidenced by SaaS ARR growth of 36% YoY to $846.9M, which now represents 69% of total ARR.