Company: SailPoint Technologies Holdings, Inc.
Description: SailPoint is the leading provider of enterprise identity governance solutions.
Shares: 20 million
Price Range: $9.00-$11.00
Trade Date: 11/17
Underwriter(s): Morgan Stanley, Citigroup, Jefferies, RBC Capital Markets
Co-Manager(s): KeyBanc Capital, Canaccord Genuity, Oppenheimer & Co.
Terms Added: 11-6-17
Link to S-1/A Prospectus
Link to Retail Roadshow
Business: Their team of industry veterans launched SailPoint to empower their customers to efficiently and securely govern the digital identities of employees, contractors, business partners and other users, and manage their constantly changing access rights to enterprise applications and data.
Their open identity platform provides organizations with critical visibility into who currently has access to which resources, who should have access to those resources, and how that access is being used.
They offer both on-premises software and cloud-based solutions, which provide organizations with the intelligence required to empower users and govern their access to applications and data across hybrid IT environments, whether comprised of on-premises, cloud or mobile applications. They help customers enable their businesses with more agile and innovative IT, enhance their security posture and better meet compliance and regulatory requirements.
SailPoint Technologies Holdings Inc.
Their customers include many of the world’s largest and most complex organizations, including commercial enterprises, educational institutions and governments.
Financials: Their revenue grew at a compound annual growth rate of 41% from the year ended December 31, 2011 to the year ended December 31, 2016.
For the years ended December 31, 2015 and 2016 and for the nine months ended September 30, 2016 and 2017, their revenue was $95.4 million, $132.4 million, $88.1 million and $118.3 million, respectively.
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During such periods, purchase accounting adjustments reduced their revenue by $5.6 million, $1.4 million, $1.1 million and $0.1 million, respectively. For the years ended December 31, 2015 and 2016 and for the nine months ended September 30, 2016 and 2017, their net loss was $10.8 million, $3.2 million, $6.5 million and $13.0 million, respectively. For the years ended December 31, 2015 and 2016 and for the nine months ended September 30, 2016 and 2017, their net cash provided by operations was $3.6 million, $6.5 million, $4.1 million and $5.8 million, respectively.
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