SailPoint (NASDAQ:SAIL) stock slid on Tuesday after it reported fiscal second-quarter results.
The identity security firm reported revenue of $264.36 million, up 33% year-on-year and ahead of analyst expectations of $240.58 million.
Subscription revenue climbed 36% to $248 million. Adjusted EPS came in at a 2-cent loss, better than the anticipated 10-cent deficit.
Annual Recurring Revenue (ARR) reached $982 million, up 28%, with SaaS ARR growing 37% to $623 million.
SailPoint also improved operational efficiency, reporting an adjusted operating margin of …