<ul data-eligibleForWebStory="true"><li>Shares of cybersecurity provider SailPoint Technologies Inc. surged over 14% after exceeding expectations with its first-quarter earnings and raising full-year guidance.</li><li>SailPoint's revenue rose by 23% in the fiscal first quarter to $230 million, driven by a 27% year-over-year growth in the subscription business to $215 million.</li><li>The company's annualized SaaS revenue grew by 39% year-over-year, surpassing $500 million in annual sales and outpacing other segments.</li><li>SailPoint reported an adjusted profit of a penny per share, contrary to analysts' expectations of a penny per share loss.</li><li>The company's dollar-based net retention rate was at 115%, and it experienced increased demand from large enterprises, with the number of customers spending over $1 million annually rising by 62%.</li><li>CEO Mark McClain attributed the strong quarter to customer base expansion and adoption among Fortune 500 and Forbes Global 2000 companies.</li><li>SailPoint upgraded its adjusted profit outlook to 16-20 cents per share and raised its revenue projection to $1.034-$1.044 billion for the fiscal year.</li></ul>

SailPoint shares jump 14%+ on strong first-quarter earnings

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