Sailpoint Technologies Holdings Inc (NYSE: SAIL) rose after the company reported upbeat Q4 results and issued a strong outlook.
The Austin, Texas-based company announced revenues of was $67.8 million, a 53% increase over Q4 2016. License revenue was $36.7 million, a 65% increase over Q4 2016.
Subscription revenue was $21.2 million, a 51% increase over Q4 2016. Services and other revenue was $9.9 million, a 23% increase over Q4 2016.
Net income was $5.4 million, compared to $3.3 million in Q4 2016. Non-GAAP net income was $13.1 million, compared to $7.9 million in Q4 2016. Non-GAAP net income per diluted share was $0.17, compared to $0.11 in Q4 2016.
CEO Mark McClain said, "We are pleased to close our first quarter as a public company with very strong results across our key financial measures. Our 2017 total revenue grew 41% year-over-year, and we delivered positive cash flow.
"Global organizations are increasingly turning to SailPoint’s market-leading identity governance solutions to enable and secure their digital identities by providing the visibility and control required to understand who has access to which applications and data, and whether that access is appropriate."
For the first quarter of 2018, SailPoint expects revenue in the range of $44 million to $45 million. It is also projecting a non-GAAP loss from operations in the range of $(0.5) million to $(1.5) million. Non-GAAP net loss per basic and diluted common share in the range of $(0.03) to $(0.04)
Shares in Sailpoint, well, sailed 68 cents, or 3.8%, to $18.60.
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