Profitability and cash flow also improved. Carolan said adjusted operating margin in Q4 was 20.6%, up 160 basis points year-over-year, and the company generated $64 million in cash from operations and $57 million in free cash flow, representing a 19.5% free cash flow margin. For fiscal 2026, revenue was $1.071 billion, up 24% year-over-year, with SaaS revenue up 35%, and adjusted operating margin was 18.1%, up 270 basis points.CFO Brian Carolan reported year-end ARR of $1.125 billion, up 28% year-over-year. ...

Industry Overview - Cybersecurity has evolved into a major business priority due to the increasing frequency and sophistication of cyberattacks, which can result in significant financial losses and brand damage [1] - The global cybersecurity market is projected to grow from $193.7 billion in 2024 to nearly $563 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14.4% [2] Technological Advancements - Traditional security tools are becoming inadequate against modern threats, leading to the integration of artificial intelligence (AI) in cybersecurity to enable proactive threat detection and response [3] - Companies are leveraging AI to analyze large volumes of data, allowing for faster detection and remediation of security threats [7] Key Players and Strategies - **Qualys** focuses on vulnerability management and cloud security, enhancing its AI capabilities to strengthen its market position [6] - **Palantir Technologies** combines its Foundry and Gotham platforms with a comprehensive AI strategy, targeting both government and commercial sectors to improve operational efficiency [10][12] - **Cloudflare** is integrating AI into its services, offering an edge computing platform that enhances security and performance, with significant adoption of its AI-powered solutions [14][15] - **SailPoint** provides AI and machine learning-enabled identity security solutions, automating processes to improve efficiency and security for enterprise customers [17][18] Market Dynamics - The demand for advanced cybersecurity solutions is driven by the increasing complexity of digital networks and new compliance requirements [2] - Companies that effectively integrate AI into their cybersecurity offerings are positioned to capture significant market share and drive long-term revenue growth [8][12]

Industry Overview - Cybersecurity has evolved into a constant business risk, with companies facing relentless cyber threats such as ransomware attacks and data breaches, which can damage customer trust and brand reputation [1] - The global cybersecurity market is projected to grow from $193.7 billion in 2024 to nearly $563 billion by 2032, reflecting a compound annual growth rate (CAGR) of 14.4% [2] - The increasing complexity of digital networks, new compliance requirements, and the urgent need to protect critical data are driving this growth [2] Technological Advancements - Traditional security tools are becoming inadequate against smarter and faster attacks, leading to a shift towards artificial intelligence (AI) for proactive threat detection [3] - AI enables companies to analyze large volumes of data and automate detection and response processes, making it a promising solution for modern cybersecurity challenges [3] Key Players - Cisco Systems is integrating AI into its cybersecurity products, with AI infrastructure orders exceeding $2 billion in fiscal 2025, indicating strong demand for its offerings [6][7] - Cisco's data center switching orders are showing solid year-over-year growth, driven by demand for AI-optimized networks [8] - Palo Alto Networks is innovating in AI and cloud security, with its AI-powered platforms like Cortex XSIAM and Prisma AIRS enhancing its competitive edge [10][12] - SailPoint is transitioning from a legacy identity governance provider to a unified security solution provider through its AI and machine learning-enabled offerings [13][14] - Datadog is enhancing its AI-powered observability platform to meet the growing demand for AI-native capabilities [15][16]

Industry Overview - The cybersecurity industry focuses on integrated protection against evolving security threats while simplifying IT security infrastructure [1] - The rise of artificial intelligence (AI), IoT devices, and increased digitization has heightened vulnerabilities, necessitating advanced security solutions [2] Company Highlights CrowdStrike Holdings Inc. (CRWD) - CrowdStrike has seen a record addition of $221 million in net new annual recurring revenues (ARR), bringing total ARR to $4.66 billion, a 20% increase from last year [5][11] - The growth is significantly driven by the Falcon Flex subscription model, with over 1,000 customers and many signing follow-on "re-Flex" deals, boosting ARR by nearly 50% [6] - The company is expanding its focus on securing AI usage, launching new capabilities to cover AI agents and introducing the Signal AI detection engine [9][10] F5 Inc. (FFIV) - F5 is experiencing strong software growth, particularly in public cloud and security offerings, benefiting from the demand for application security in multi-cloud environments [12] - The company has made six acquisitions in the past five years to enhance its network security capabilities and market share [13] - F5 has an expected revenue and earnings growth rate of 3.9% and 4%, respectively, for the next year [15] Qualys Inc. (QLYS) - Qualys is capitalizing on the demand for cloud-based cybersecurity solutions, maintaining a balanced customer mix across enterprises, SMBs, and government entities [16] - The company has made strategic acquisitions, including Blue Hexagon, to enhance its threat detection and response capabilities [17] - Qualys has expected revenue and earnings growth rates of 8.1% and 4.4%, respectively, for the current year [18] Palantir Technologies Inc. (PLTR) - Palantir reported over $1 billion in revenue for the first time, driven by its AI platform expansion beyond government contracts [19][20] - The company has increased its full-year revenue guidance to between $4.142 billion and $4.150 billion, reflecting strong growth prospects [22] - Palantir has expected revenue and earnings growth rates of 45.6% and 58.5%, respectively, for the current year [22] SailPoint Inc. (SAIL) - SailPoint offers unified identity security solutions through its Identity Security Cloud and IdentityIQ [23] - The company has an expected revenue growth rate of 22.2% and earnings growth rate of over 100% for the current year [24]

Table of Contents As filed with the Securities and Exchange Commission on February 12, 2025. No. 333-284339 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SailPoint Parent, LP to be converted as described herein to a corporation named SailPoint, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 88-2001765 (Primary ...

Table of Contents As filed with the Securities and Exchange Commission on February 11, 2025. No. 333-284339 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SailPoint Parent, LP to be converted as described herein to a corporation named SailPoint, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 88-2001765 (Primary ...

Table of Contents As filed with the Securities and Exchange Commission on February 4, 2025. No. 333-284339 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SailPoint Parent, LP to be converted as described herein to a corporation named SailPoint, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 88-2001765 (Primary S ...

Table of Contents As filed with the Securities and Exchange Commission on January 17, 2025. No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SailPoint Parent, LP to be converted as described herein to a corporation named SailPoint, Inc. (Exact name of registrant as specified in its charter) Delaware 7372 88-2001765 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classi ...