SailPoint Files $1 Billion IPO in Austin

SailPoint, a provider of identity governance software, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission, aiming to raise up to $1 billion. The company, which reported $824 million in revenue for the year ending October 31, 2024, and specializes in identity security solutions, plans to list its shares on the Nasdaq under the ticker symbol SAIL. The IPO filing comes after SailPoint's recent acquisition by Thoma Bravo for $6.12 billion in 2022, which took the firm off public markets. The company reported a narrower operational loss of $158.5 million for the nine months ended October 31, 2024, compared to a $267.5 million loss in the previous year. Proceeds from the IPO are expected to be used to reduce debt and enhance financial flexibility. Underwriters for the offering include Morgan Stanley and Goldman Sachs.