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SailPoint re-entered the public market, raising $1.38 billion at $23/share, with a strong focus on identity security for enterprises. The company transitioned to a SaaS model, achieving 25% total revenue growth and 30% subscription revenue growth, with 92% of revenue now from subscriptions. SailPoint's non-GAAP gross margin is ~80% with non-GAAP operating margins ~14%, indicating strong financial health and potential for future profitability.
Seven IPOs and three SPACs were listed this week. Seven IPOs and four SPACs submitted initial filings. Some small IPOs are tentatively scheduled for the short holiday week ahead.
SailPoint's IPO on Thursday was a disappointment for anyone hoping it would indicate that tech IPOs are hot again.
Santosh Rao, Manhattan Venture Partners head of research, joins 'Closing Bell' to discuss the IPO market and outlook for 2025.
SailPoint stock was trading slightly higher to start the first full day of trading for the cybersecurity company. The post SailPoint Return To Public Markets Marks First Major Tech IPO Of 2025 appeared first on Investor's Business Daily.
SailPoint, founded in 2005, specializes in managing and securing enterprise identity access to critical applications and data. The company, which pioneered SaaS models, went public in 2017 and was acquired by Thoma Bravo in 2022. Thoma Bravo is now bringing the business public again, in an attempt to recycle its money in a relatively short period of time.
Cybersecurity company SailPoint Technologies (SAIL) is set to begin trading on the Nasdaq (^IXIC) on Thursday after pricing its IPO (Initial Public Offering) at $23 per share, raising $1.38 billion. SailPoint, acquired by Thoma Bravo in 2014 and previously listed on the New York Stock Exchange, now shifts focus toward tech with artificial intelligence-driven services.
Thoma Bravo-backed identity security company SailPoint was valued at $12.8 billion, after its shares opened in line with the offer price in their Nasdaq debut on Thursday.
SailPoint CEO Mark McClain joins CNBC's 'Squawk on the Street' to discuss the company's IPO, cybersecurity offerings, and more.
SailPoint, the Texas-based identity security firm, has raised $1.38 billion in its New York initial public offering, pricing shares at $23 each, the top of its expected range. The company and private equity owner Thoma Bravo sold 60 million shares, valuing SailPoint at $12.6 billion ahead of its return to public markets.