SailPoint Technologies Holdings, Inc. (NYSE:SAIL) Q3 2019 Earnings Conference Call Transcript

Nov 06, 2019 • 05:00 pm ET

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SailPoint Technologies Holdings, Inc. (NYSE:SAIL) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Joshua Harding

Greetings. Welcome to SailPoint Technologies Holdings Inc. Third Quarter 2019 Earnings Conference Call. [Operator Instructions] I will now turn the conference over to your host Mr. Josh Harding Vice President of Financial Planning Analysis and Investor Relations. Please go ahead.

Executive
Mark D. McClain

Thanks Josh and good afternoon. Thank you for joining the call today. I'd like to share our results for the third quarter of 2019. Total revenue for the quarter was $75.9 million an increase of 15% over Q3 of 2018 and our non-GAAP operating income was $9 million. Our company performance was indicative of our extended leadership in identity governance as evidenced by our continued focus on driving innovation across our identity platform and our ability to execute. I'd like to spend a few moments providing color to each of these areas. A key aspect of our extended leadership this quarter was driven by our consistent focus on pushing the pace of innovation. We've demonstrated that this quarter from both a build and a buy standpoint. From a build standpoint, Gartner recognized sell point as a leader for the six consecutive times in the latest Gartner Magic Quadrant for identity governance and administration. In the 2019 report, Gartner credit sell points for being the most innovative vendor in IGA.

Gartner applauded our AI-driven identity analytics capabilities and our comprehensive approach to governing all users including software bots and their access to all applications and all data including data stored in files. SailPoint is positioned well ahead of all competitors across both execution and vision in this year's report providing the latest validation of our superior technology and fierce commitment to the market. We also demonstrated continued leadership by further redefining identity governance driving innovation from a buy standpoint. With the acquisitions of Orkus and OverWatchID we're extending our ability to more deeply and dynamically govern access across all cloud resources including cloud infrastructure like AWS and Azure. This is particularly important given that these cloud resources now underpin so many digital transformation efforts underway. Once these technologies are integrated into our identity platform organizations of all sizes will have access to a new approach to governing these cloud environments one that takes advantage of AI and machine learning and integrates seamlessly into their existing identity governance program. With these acquisitions we are the first IGA vendor to address this growing need for companies today. This also accelerates our SailPoint Predictive Identity vision and approach to the market.

As we said at the beginning of the year our 2019 charter has been to help our customers to govern all to govern smart and to govern deep. In Q3 we continued to deliver on this charter particularly as we saw more customers choosing to broaden their identity program with SailPoint. This manifested itself in a number of ways. For some customers this meant a significant expansion on their existing IdentityIQ or IdentityNow implementation to scale to meet their evolving business needs. For example this quarter's largest deal in the Americas was with an