SAIL on Nasdaq

SailPoint, Inc.

SailPoint, Inc. is an American prepackaged software services company based in Wilmington.2

Price unavailable

Last updated Oct 21, 2026.

Overview

$1.1BRevenue, fiscal 20263
-$270.1MNet income, fiscal 20263

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  • TickerSAIL on Nasdaq2
  • IndustryServices-Prepackaged Software2
  • HeadquartersWilmington, United States2
  • Incorporated inDE4
  • Business address11120 Four Points Drive, Suite 100, Austin, Tx 787264
  • Filer categoryNon-accelerated filer4
  • Legal formCorporation2
  • LEI529900IRT8OM8CEOPC032
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 67127172

SailPoint, Inc. (together with its consolidated subsidiaries, as appropriate, “SailPoint,” the “Company,” “our,” or “we”) delivers solutions to enable adaptive identity security for the enterprise. We do this via the SailPoint Platform that unifies identity data across systems and identity types, including employee identities, non-employee identities, machine identities, and AI agents for real-time governance. Our SaaS and customer-hosted offerings leverage intelligent analytics to provide organizations with critical visibility into which identities currently have access to which resources, which identities should have access to those resources, and how that access is being used. Our solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. Powered by AI, our solutions enable…6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

64.5%Gross margin3
-28.7%Operating margin3
-25.2%Net margin3
24.4%Revenue growth, 20263
-3.9%Return on equity3
0.00×Debt to equity3
$64.6MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue36¢$380.6M
  • Research and development21¢$223.0M
  • Other costs38¢$411.9M
  • Income tax5¢$55.9M

Out of $1.1B in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2026

  • Capital spending8¢$6.0M
  • Kept or used elsewhere92¢$64.6M

Out of $70.6M of cash from operations.3

Financial statements

Revenue3$1.1B in 2026+53% since 2024
0$500.0M$1.0B$1.5B2024: $699.6M$699.6M20242025: $861.6M$861.6M2025+23%2026: $1.1B$1.1B2026+24%
Gross profit3$690.8M in 2026+63% since 2024
0$200.0M$400.0M$600.0M$800.0M2024: $422.9M$422.9M20242025: $555.9M$555.9M2025+31%2026: $690.8M$690.8M2026+24%
Operating income3-$307.5M in 2026−8% since 2024
-$400.0M-$300.0M-$200.0M-$100.0M02024: -$332.7M-$332.7M20242025: -$188.7M-$188.7M2025−43%2026: -$307.5M-$307.5M2026+63%
Net income3-$270.1M in 2026−32% since 2024
-$400.0M-$300.0M-$200.0M-$100.0M02024: -$395.4M-$395.4M20242025: -$315.8M-$315.8M2025−20%2026: -$270.1M-$270.1M2026−14%
Fiscal year2023202420252026
Revenue$699.6M3$861.6M3$1.1B3
Cost of revenue$276.6M3$305.7M3$380.6M3
Gross profit$422.9M3$555.9M3$690.8M3
Research and development$180.8M3$169.7M3$223.0M3
Operating expenses$755.7M3$744.6M3$998.3M3
Operating income-$332.7M3-$188.7M3-$307.5M3
Income before tax-$512.3M3-$376.6M3-$326.0M3
Income tax-$117.0M3-$60.8M3-$55.9M3
Net income-$395.4M3-$315.8M3-$270.1M3
Earnings per share-$12.133-$12.913-$0.543
Earnings per share (diluted)-$12.133-$12.913-$0.543
Shares (weighted, basic)80.7M shares383.7M shares3544.2M shares3
Shares (weighted, diluted)80.7M shares383.7M shares3544.2M shares3

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Corporate structure

SailPoint, Inc. sits at the top of its group. 28 entities, 14 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SailPoint, Inc.

  • SailPoint, Inc. Wilmington, Delaware, United States
    • 1. SailPoint Holdings GP, LLC Subsidiary · Delaware, United States
    • 10. SailPoint SZ, LLC Subsidiary · Delaware, United States
    • 11. SailPoint Technologies UK Ltd. Subsidiary · United Kingdom
    • 12. SailPoint Technologies India Private Ltd. Subsidiary · India
    • 13. SailPoint Technologies Netherlands B.V. Subsidiary · Netherlands
    • 14. SailPoint Technologies Pte. Ltd. Subsidiary · Singapore
    • 15. SailPoint Technologies Israel Ltd. Subsidiary · Israel
    • 16. SailPoint Technologies GmbH Subsidiary · Germany
    • 17. SailPoint Technologies SARL Subsidiary · Switzerland
    • 18. SailPoint Technologies Japan G.K. Subsidiary · Japan
    • 19. SailPoint Technologies Canada Inc. Subsidiary · Canada
    • 2. SailPoint Intermediate Holdings I, LP Subsidiary · Delaware, United States
    • 20. SailPoint Technologies Mexico, S.A. de C.V. Subsidiary · Mexico
    • 23. SailPoint Chile Limitada Subsidiary · Chile
    • 24. Osirium Limited Subsidiary · United Kingdom
    • 25. Osirium Technologies Limited Subsidiary · United Kingdom
    • 26. SailPoint Tecnologia Spain, S.L. Subsidiary · Spain
    • 27. SailPoint Technologies Brazil Ltda Subsidiary · Brazil
    • 3. SailPoint Intermediate Holdings II, LP Subsidiary · Delaware, United States
    • 4. SailPoint Intermediate Holdings III, LP Subsidiary · Delaware, United States
    • 5. SailPoint Technologies Holdings, Inc. Subsidiary · Delaware, United States
    • 6. SailPoint Technologies Intermediate Holdings, LLC Subsidiary · Delaware, United States
    • 7. SailPoint Technologies, Inc. Subsidiary · Delaware, United States
    • 8. SailPoint Holdings, Inc. Subsidiary · Delaware, United States
    • 9. SailPoint International, Inc. Subsidiary · Delaware, United States
    • and 2 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SailPoint, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$57.5M3 Jan 31, 2026$38.7M3 Jan 31, 2025+48.6%
Accumulated depreciation$22.3M3 Jan 31, 2026$15.8M3 Jan 31, 2025+41.1%
Property and equipment, net$35.2M3 Jan 31, 2026$22.9M3 Jan 31, 2025+53.8%
Operating-lease assets (leased space)$16.9M3 Jan 31, 2026$21.6M3 Jan 31, 2025−21.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$358.1M3 Jan 31, 2026$121.3M3 Jan 31, 2025+195.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$5.2B3 Jan 31, 2026$5.2B3 Jan 31, 20250%
Intangible assets, net (excluding goodwill)$1.4B3 Jan 31, 2026$1.6B3 Jan 31, 2025−11.8%
Finite-lived intangibles, gross$2.2B3 Jan 31, 2026$2.2B3 Jan 31, 2025+0.9%
Accumulated amortization$805.1M3 Jan 31, 2026$603.0M3 Jan 31, 2025+33.5%
Finite-lived intangibles, net$1.4B3 Jan 31, 2026$1.6B3 Jan 31, 2025−11.8%

Properties, in its own words

Our corporate headquarters in Austin, Texas consists of 165,000 square feet of space under a lease that expires in April 2029. We also have additional office space under traditional leases in Pune, India, Tel Aviv, Israel, and London, United Kingdom and under coworking arrangements in various locations in North and South America, EMEA, and APAC.

We believe that our facilities are adequate for our current needs and anticipate that suitable additional space will be readily available to accommodate any foreseeable expansion of our operations. For more information about our lease commitments, see also Note 7 “Leases” in our notes to our consolidated financial statements included in this Annual Report.

Item 2 of the 10-K filed Mar 19, 2026.6

Leadership

Who has led SailPoint, Inc., and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Brian Carolan2025–now
Board members and other officers (13)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1. SailPoint Holdings GP, LLC Delaware5
  • 10. SailPoint SZ, LLC Delaware5
  • 11. SailPoint Technologies UK Ltd. United Kingdom5
  • 12. SailPoint Technologies India Private Ltd. India5
  • 13. SailPoint Technologies Netherlands B.V. Netherlands5
  • 14. SailPoint Technologies Pte. Ltd. Singapore5
  • 15. SailPoint Technologies Israel Ltd. Israel5
  • 16. SailPoint Technologies GmbH Germany5
  • 17. SailPoint Technologies SARL Switzerland5
  • 18. SailPoint Technologies Japan G.K. Japan5
  • 19. SailPoint Technologies Canada Inc. Canada5
  • 2. SailPoint Intermediate Holdings I, LP Delaware5
  • 20. SailPoint Technologies Mexico, S.A. de C.V. Mexico5
  • 23. SailPoint Chile Limitada Chile5
  • 24. Osirium Limited United Kingdom5
  • 25. Osirium Technologies Limited United Kingdom5
  • 26. SailPoint Tecnologia Spain, S.L. Spain5
  • 27. SailPoint Technologies Brazil Ltda Brazil5
  • 3. SailPoint Intermediate Holdings II, LP Delaware5
  • 4. SailPoint Intermediate Holdings III, LP Delaware5
  • 5. SailPoint Technologies Holdings, Inc. Delaware5
  • 6. SailPoint Technologies Intermediate Holdings, LLC Delaware5
  • 7. SailPoint Technologies, Inc. Delaware5
  • 8. SailPoint Holdings, Inc. Delaware5
All 25 listed subsidiaries
  • 9. SailPoint International, Inc. Delaware5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • SailPoint Parent, LPSep 12, 2024 to Feb 12, 20254

Timeline

  1. Sep 9, 20268-K Results of operations24
  2. Jun 12, 20268-K Executive or director change25
  3. Jun 10, 20268-K Shareholder vote26
  4. Jun 9, 20268-K Results of operations27
  5. May 8, 20268-K Regulation FD disclosure28
  6. Mar 18, 20268-K Results of operations29
  7. Dec 9, 20258-K Results of operations30
  8. Sep 24, 20258-K Executive or director change; Regulation FD disclosure31
  9. Sep 9, 20258-K Results of operations32
  10. Jun 26, 20258-K Entered a material agreement; New debt or obligation33
  11. Jun 11, 20258-K Results of operations34
  12. Mar 31, 20258-K Results of operations35
  13. Feb 13, 2025New chief executive Mark D. McClain becomes CEO9
  14. Apr 1, 2022Founded SailPoint, Inc. is founded2

Calendar

Coming up

  1. Dec 8, 2026Reports results for the quarter ending Oct/2026 A year earlier it reported $0.08 a share, on Dec 9, 2025.36

When it reported results

  1. Sep 9, 2026Reported quarterly or annual results24
  2. Jun 9, 2026Reported quarterly or annual results27
  3. Mar 18, 2026Reported quarterly or annual results29
  4. Dec 9, 2025Reported quarterly or annual results30
  5. Sep 9, 2025Reported quarterly or annual results32
  6. Jun 11, 2025Reported quarterly or annual results34
  7. Mar 31, 2025Reported quarterly or annual results35
  8. Mar 26, 2025Reported quarterly or annual results37

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

216 filings to the SEC since October 2021: 2 annual reports, 5 quarterly reports, 14 major events, 84 insider forms, 1 large holders, 110 other. The latest 20:

  1. Oct 9, 20264 EDGAR
  2. Oct 8, 20264 EDGAR
  3. Oct 8, 20264 EDGAR
  4. Oct 8, 2026144 EDGAR
  5. Oct 8, 20264 EDGAR
  6. Oct 8, 20264 EDGAR
  7. Oct 8, 20264 EDGAR
  8. Oct 8, 20264 EDGAR
  9. Oct 8, 20264 EDGAR
  10. Oct 7, 2026144 EDGAR
  11. Oct 7, 2026144 EDGAR
  12. Oct 7, 2026144 EDGAR
  13. Oct 7, 2026144 EDGAR
  14. Oct 7, 2026144 EDGAR
  15. Oct 7, 2026144 EDGAR
  16. Oct 6, 2026144 EDGAR
  17. Oct 6, 2026144 EDGAR
  18. Oct 6, 2026144 EDGAR
  19. Oct 6, 2026144 EDGAR
  20. Oct 6, 2026144 EDGAR

The 216 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

79 open-market trades by officers, directors and large owners since October 2021: 0 buys and 79 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 13, 2026REZVAN MITRAChief Accounting OfficerSale1,214$20.00$24.3KForm 4
Jul 8, 2026Gnanasambandam ChandrasekarEVP Product & CTOSale19,540$15.42$301.3KForm 4
Jul 8, 2026Payne AbbyChief People OfficerSale16,999$15.42$262.1KForm 4
Jul 8, 2026REZVAN MITRAChief Accounting OfficerSale3,881$15.42$59.8KForm 4
Jul 8, 2026Schmitt ChristopherGeneral Counsel and SecretarySale18,890$15.42$291.3KForm 4
Jul 8, 2026Mills MattPresidentSale34,312$15.42$529.1KForm 4
Jul 8, 2026McClain Mark D.Chief Executive OfficerSale93,260$15.42$1.4MForm 4
Jul 8, 2026CAROLAN BRIANChief Financial OfficerSale46,002$15.42$709.4KForm 4
Jul 7, 2026Gnanasambandam ChandrasekarEVP Product & CTOSale14,878$16.29$242.3KForm 4
Jul 7, 2026Payne AbbyChief People OfficerSale21,542$16.29$350.9KForm 4
Jul 7, 2026REZVAN MITRAChief Accounting OfficerSale2,954$16.29$48.1KForm 4
Jul 7, 2026Schmitt ChristopherGeneral Counsel and SecretarySale23,940$16.29$389.9KForm 4
Jul 7, 2026Mills MattPresidentSale43,485$16.29$708.3KForm 4
Jul 7, 2026McClain Mark D.Chief Executive OfficerSale118,194$16.29$1.9MForm 4
Jul 7, 2026CAROLAN BRIANChief Financial OfficerSale32,468$16.29$528.8KForm 4
Jun 1, 2026REZVAN MITRAChief Accounting OfficerSale7,487$20.00$149.7KForm 4
Apr 9, 2026Gnanasambandam ChandrasekarEVP Product & CTOSale20,082$11.46$230.1KForm 4
Apr 9, 2026Payne AbbyChief People OfficerSale16,930$11.46$194.0KForm 4
Apr 9, 2026REZVAN MITRAChief Accounting OfficerSale3,472$11.46$39.8KForm 4
Apr 9, 2026Schmitt ChristopherGeneral Counsel and SecretarySale18,813$11.46$215.5KForm 4

All 79 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Mark McClain63$607.5K$80.1M39
2026Matt Mills68$537.5K$28.6M39
2026Brian Carolan55$462.5K$20.5M39
2026Chris Schmitt54$412.5K$16.0M39
2026Abby Payne49$387.5K$14.8M39
2025Chief Executive$568.8K$1.1M39
2025President$500.0K$982.8K39
2025Chief Financial$439.6K$739.1K39
2025EVPGC and$385.4K$619.7K39
2025Chief People$362.5K$548.1K39
2024Officer$525.0K$23.4M39
2024President$465.0K$8.8M39
2024Secretary$365.0K$4.6M39

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Thoma Bravo, L.P.479,842,514$7.0B96.5%No change
Norges Bank13,058,978$191.2M0.0%New
UBS Group AG4,579,890$67.0M0.0%+2,544,807
Wasatch Advisors LP4,519,996$66.2M0.4%New
BlackRock, Inc.4,443,309$65.1M0.0%+749,707
Stephens Investment Management Group LLC4,154,901$60.8M0.7%+1,259,201
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.3,595,408$52.6M0.1%+999,776
Driehaus Capital Management LLC3,574,494$52.3M0.3%New
Point72 Asset Management, L.P.3,352,955$49.1M0.1%+289,055
Lunate Capital Ltd3,000,000$43.9M22.4%No change
Keenan Capital, LLC2,862,119$41.9M8.3%−1,419,292
Vanguard Capital Management LLC2,750,361$40.3M0.0%+81,173
NZS Capital, LLC2,530,450$37.0M1.0%+221,374
Balyasny Asset Management L.P.2,333,950$34.2M0.1%+1,638,721
Vanguard Portfolio Management LLC2,197,206$32.2M0.0%+99,508
Goldman Sachs Group Inc2,194,703$32.1M0.0%+858,793
Voya Investment Management LLC1,948,675$28.5M0.0%−660,444
Geode Capital Management, LLC1,631,179$23.9M0.0%+11,258
State Street Corp1,557,015$22.8M0.0%+254,826
Freestone Grove Partners LP1,452,613$21.3M0.1%+1,452,612
Nomura Asset Management International Inc.1,302,832$19.1M0.0%New
Cramer Rosenthal Mcglynn LLC1,290,269$18.9M1.0%New
Morgan Stanley1,165,779$17.1M0.0%+307,632
Dimensional Fund Advisors LP1,141,783$16.7M0.0%+856,141
Bamco Inc /ny/1,087,053$15.9M0.0%+794,456

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 21, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+29.9%Report
Jul 20, 2026Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+25.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How SailPoint, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSailPoint, Inc.1
  • CIK0002030781
  • Employer ID (EIN)88-20017656
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsJanuary 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address11120 Four Points Drive, Suite 100, Austin, TX 787261
  • Phone(512) 346-20001
  • Shares outstanding570,911,633 as of Sep 4, 20268
  • Public float$1.5B as of Jul 31, 20256
  • AuditorErnst & Young LLP, Austin, Texas PCAOB ID 42; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceSep 12, 20241
  • Filings216 in all: 144 (84), 4 (64), 3 (19), 8-K (13), 10-Q (5), CORRESP (4), DRS/A (3), S-1/A (3)1
    All 25 form types

    UPLOAD (3), 10-K (2), DRSLTR (2), 3/A (1), 424B4 (1), 8-A12B (1), 8-K/A (1), ARS (1), CERT (1), DEF 14A (1), DEFA14A (1), DRS (1), EFFECT (1), S-1 (1), S-1MEF (1), S-8 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 19, 2026
    Quarterly report (10-Q) Sep 10, 2026
    Proxy statement (DEF 14A) Apr 24, 2026
    Latest 8-K (8-K) Sep 9, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.0001 per shareSAILThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 19, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks SailPoint, Inc. names in Item 1A of its 10-K filed Mar 19, 2026: 62 risks under these headings, as written.6

  • Risks Related to Our Business and Industry
  • We have experienced rapid growth in recent periods, and our recent growth rates may not be indicative of our future growth.
  • Our future revenues and operating results will be harmed if we are unable to acquire new customers, if our customers do not renew their arrangements with us, if we are unable to expand sales to our existing customers, or if we are unable to develop new solutions that achieve market acceptance.
  • If the market for identity security solutions does not grow, our ability to grow our business and our results of operations may be adversely affected.
  • If we are unable to maintain successful relationships with our channel partners, our ability to market, sell, distribute, and implement our solutions will be limited, and our business, financial condition, and operating results would be adversely affected.
  • Our quarterly results fluctuate significantly and may not fully reflect the underlying performance of our business.
  • Our sales cycle is long and unpredictable, and our sales efforts require considerable time and expense.
  • We recognize most of our revenue ratably over the term of our agreements with customers and, as a result, downturns or upturns in sales may not be immediately reflected in our operating results.
  • We expect our revenue mix and certain business factors to impact the amount of revenue recognized period to period, which could make period-to-period revenue comparisons not meaningful and difficult to predict.
  • We face intense competition in our market, both from larger, well-established companies and from emerging companies and technologies, and we may lack sufficient financial and other resources to maintain and improve our competitive position.
  • We anticipate that our operations will continue to increase in complexity as we grow, which will add additional challenges to the management of our business in the future.
  • Seasonality may cause fluctuations in our sales, results of operations, and remaining performance obligations.
The other 51 risks
  • Our failure to achieve and maintain an effective system of disclosure controls and internal control over financial reporting could adversely affect our financial position and lower our stock price.
  • If we are not able to maintain and enhance our brand or reputation as an industry leader and innovator, our business and operating results may be adversely affected.
  • Sales to enterprise customers involve risks that may not be present or that are present to a lesser extent with respect to sales to smaller organizations.
  • Because our long-term success depends, in part, on our ability to expand the sales and marketing of our solutions to customers located outside of the United States, and we perform a significant portion of our development outside of the United States, our business will be susceptible to risks associated with international operations.
  • Unfavorable conditions in our industry or the global economy, including those caused by the ongoing conflicts around the world, or reductions in technology spending, could limit our ability to grow our business and negatively affect our results of operations.
  • Any failure to offer high-quality customer support may adversely affect our relationships with our customers and our financial results.
  • If we fail to meet contractual commitments related to response time, service level commitments, or quality of professional services, we could be obligated to provide credits for future service or face contract termination, which could adversely affect our business, operating results, and financial condition.
  • Our business depends, in part, on sales to the public sector, which are subject to a number of challenges and risks, and significant changes in the contracting or fiscal policies of the public sector could have an adverse effect on our business.
  • We may acquire or invest in companies, which may divert our management’s attention and result in additional dilution to our stockholders. We may be unable to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions, and acquisitions, particularly of development stage companies, may adversely affect our operating results and liquidity as well as our ability to meet expectations.
  • If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our operating results could be adversely affected.
  • Changes in existing financial accounting standards or practices, or taxation rules or practices, may harm our operating results.
  • We track certain business and operational metrics, which are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and materially adversely affect our stock price, business, results of operations, and financial condition.
  • If our solutions fail to help our customers achieve and maintain compliance with certain government regulations and industry standards, our business and operating results could be materially and adversely affected.
  • Our success depends on the experience and expertise of our senior management team and key employees. If we are unable to hire, retain, train, and motivate our personnel, or to maintain our corporate culture, our business, operating results, and prospects may be harmed.
  • We are exposed to fluctuations in currency exchange rates, which could negatively affect our results of operations.
  • Our business could be disrupted by catastrophic events.
  • Risks Related to Our Technology and Our Intellectual Property Rights
  • Our introduction and use of AI, and the integration of AI with our solutions, may not be successful and may present business, compliance, and reputational challenges, which could lead to operational or reputational damage, competitive harm, legal and regulatory risk, and additional costs, any of which could adversely affect our business, financial condition, and results of operations.
  • Our ability to introduce new identity security solutions and features is dependent on adequate research and development resources and our ability to successfully complete acquisitions. If we do not adequately fund our research and development efforts or complete acquisitions successfully, we may not be able to compete effectively, and our business and results of operations may be harmed.
  • Cyber attacks or other cybersecurity breaches, incidents, or disruptions with respect to our networks, systems, or applications, including unauthorized access to, or disclosure or other processing of, our proprietary, confidential, or sensitive information, including personal information, could disrupt our operations, compromise sensitive information related to our business or personal information processed by us or on our behalf, and expose us to liability, which could
  • harm our reputation and adversely affect our business, financial condition, and results of operations, and as we grow, we may become a more attractive target for cyber attacks.
  • Interruptions, outages, or other disruptions affecting the delivery of our SaaS solution, or any of the third-party cloud-based systems that we use in our operations, may adversely affect our business, operating results, and financial condition.
  • If we fail to adapt and respond effectively to rapidly changing technology, evolving industry standards, changing regulations, and changing customer needs, requirements, or preferences, our platform and solutions may become less competitive.
  • Real or perceived errors, failures, or disruptions in our platform and solutions could adversely affect our customers’ satisfaction with our solutions and/or our industry reputation and business could be harmed.
  • If our platform and solutions do not effectively interoperate with our customers’ existing or future IT infrastructure and applications, implementations could be delayed or cancelled, which would harm our business.
  • Incorrect or improper implementation or use of our platform and solutions could result in customer dissatisfaction and harm our business, financial condition, and results of operations.
  • We use third-party licensed software, third-party licensed services, and cloud services subscriptions in or with our solutions, and the inability to maintain these licenses and subscriptions or issues with the software we license or services we leverage could result in increased costs or reduced service levels, which would adversely affect our business.
  • If we fail to obtain, maintain, protect, defend, or adequately enforce our intellectual property or proprietary rights, our competitive position could be impaired, and we may lose valuable assets, generate reduced revenue, and incur costly litigation to protect our rights.
  • We may be subject to intellectual property rights claims by third parties, including contractual counterparties, which may be costly to defend, result in damage to our reputation, and could require us to pay significant damages, limit our ability to use certain technologies, and adversely affect our business, financial condition, and results of operations.
  • Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, misappropriation, or violation as well as other losses.
  • Our use of “open source” software could negatively affect our ability to sell our solutions and subject us to possible litigation.
  • Risks Related to Indebtedness
  • We may incur significant indebtedness, which could reduce our strategic flexibility and liquidity and may have other adverse effects on our results of operations.
  • The terms, conditions, and restrictions contained in the 2025 Credit Agreement could expose us to risks that could adversely affect our liquidity and financial condition or otherwise adversely affect our operating results.
  • Interest rate fluctuations may have a material adverse effect on our business, results of operations, financial condition, and cash flows.
  • Risks Related to Laws and Regulations
  • We will face risks associated with the growth of our business with certain heavily regulated industry verticals.
  • Any actual or perceived failure by us to comply with our privacy policy or legal or regulatory requirements, rules, industry standards, contractual requirements, and other obligations relating to privacy, data protection, and cybersecurity, in one or multiple jurisdictions could result in proceedings, actions, or penalties against us.
  • Regulatory and legislative developments related to the use of AI could adversely affect our use of such technologies in our solutions and business.
  • Failure to comply with anti-bribery, anti-corruption, and anti-money laundering laws could subject us to penalties and other adverse consequences.
  • We are subject to governmental export controls and economic sanctions laws that could impair our ability to compete in international markets and subject us to liability if we are not in full compliance with applicable laws.
  • Our corporate structure and intercompany arrangements are subject to the tax laws of various jurisdictions, and we could be obligated to pay additional taxes, which would harm our operating results.
  • Our ability to use net operating losses and other tax attributes to offset future taxable income may be subject to certain limitations.
  • We function as a HIPAA “business associate” or service provider for certain of our customers and, as such, are subject to strict privacy and data security requirements. If we fail to comply with any of these requirements, or applicable requirements under state health information laws, we could be subject to significant liability, which can adversely affect our business as well as our ability to attract and retain new customers.
  • Increased and complex scrutiny of environmental, social, governance, and sustainability (“ESG”) matters may require us to incur additional costs or otherwise adversely impact our business.
  • Risks Related to Ownership of Our Common Stock
  • The trading price of our common stock could be volatile, which could cause the value of your investment to decline.
  • If securities analysts or industry analysts were to downgrade our stock, publish negative research or reports, or fail to publish reports about our business, our competitive position could suffer and our stock price and trading volume could decline.
  • Our issuance of additional capital stock in connection with financings, acquisitions, investments, our stock incentive plans, or otherwise will dilute all other stockholders.
  • We do not intend to pay dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
  • Provisions of our corporate governance documents could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our current management, even if beneficial to our stockholders.
  • Thoma Bravo controls us, and its interests may conflict with ours or yours in the future.
  • We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
  • Our charter designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees, or agents.
  • We are a controlled company within the meaning of the rules of Nasdaq and, as a result, qualify for and are relying on exemptions from certain corporate governance requirements.

Legal proceedings

We are not currently a party to, nor is our property currently subject to, any material legal proceedings other than ordinary routine litigation incidental to the business, and we are not aware of any such proceedings contemplated by governmental authorities.

The opening of Item 3, Legal Proceedings.6

Sources

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