SailPoint Parent, LP Files S-1 for Public Offering

Ticker: SAIL · Form: S-1 · Filed: 2025-01-17T00:00:00.000Z

Sentiment: neutral

Topics: ipo, registration-statement, software

TL;DR

SailPoint Parent, LP is filing to go public. Get ready.

AI Summary

SailPoint Parent, LP, a Delaware-based software company, filed an S-1 registration statement on January 17, 2025, to become SailPoint, Inc. The company, located at 11120 Four Points Drive, Suite 100, Austin, TX 78726, is preparing for a public offering. SailPoint specializes in prepackaged software and can be reached at (512) 346-2000.

Why It Matters

This S-1 filing indicates SailPoint's intention to go public, which could lead to increased liquidity for investors and greater access to capital for the company's growth.

Risk Assessment

Risk Level: medium — As a pre-IPO company, SailPoint faces typical risks associated with market volatility, competition, and execution of its business plan.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this S-1 filing?

The S-1 filing is a registration statement filed by SailPoint Parent, LP to register its securities for a public offering, with the intent to convert into a corporation named SailPoint, Inc.

When was this S-1 filing submitted to the SEC?

The S-1 filing was submitted to the Securities and Exchange Commission on January 17, 2025.

What is SailPoint's principal executive office address?

SailPoint's principal executive offices are located at 11120 Four Points Drive, Suite 100, Austin, TX 78726.

Who is listed as the General Counsel and Secretary for SailPoint?

Chris Schmitt is listed as the General Counsel and Secretary for SailPoint.

What is SailPoint's Standard Industrial Classification (SIC) code?

SailPoint's SIC code is 7372, which corresponds to 'SERVICES-PREPACKAGED SOFTWARE'.

Filing Stats: 4,452 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2025-01-17 16:07:42

Key Financial Figures

Filing Documents

Underwriting

Underwriting Discounts and Commissions (1) Proceeds to SailPoint, Inc., before expenses Per Share $ $ $ Total $ $ $ (1) See Underwriting for a description of the compensation payable to the underwriters. We have granted the underwriters the right to purchase up to an additionalshares of common stock at the initial public offering price less underwriting discounts and commissions solely to cover over-allotments, if any. Immediately after this offering, assuming an offering size as set forth above, funds controlled by our principal stockholder, Thoma Bravo, will own approximately% of our outstanding common stock (or% of our outstanding common stock if the underwriters exercise their option to purchase additional shares in full). See Risk FactorsRisks Related to This Offering and Ownership of Our Common StockThoma Bravo controls us, and its interests may conflict with ours or yours in the future. As a result, we expect to be a controlled company within the meaning of the corporate governance standards of Nasdaq. See ManagementCorporate GovernanceControlled Company Status. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. The underwriters expect to deliver the shares of common stock against payment in New York, New York on, 2025. MORGAN STANLEY GOLDMAN SACHS & CO. LLC , 2025 Table of Contents The core of enterprise security is identity SailPoint® Table of Contents MISSION Manage and secure dynamic access to critical applications and data for every enterprise identity with an intelligent and unified platform Table of Contents $813MM ARR 30% ARR YoY Growth2 2,895 Customers3 67% YoY Growth of $1MM+ ARR Customers2 44 Rule of Metric4 114 Dollar-Based Net Retention Rate Note: All data as of October 31, 2024 (1) 1. For our definitions o

Risk Factors

Risk Factors 22

Forward-Looking Statements

Forward-Looking Statements 65 Market and Industry Data 67

Use of Proceeds

Use of Proceeds 68 Dividend Policy 69 Capitalization 70

Dilution

Dilution 72 Unaudited Pro Forma Condensed Consolidated Financial Information 75

Managements Discussion and Analysis of Financial Condition and Results

Managements Discussion and Analysis of Financial Condition and Results of Operations 83

Business

Business 124 Page Management 158

Executive Compensation

Executive Compensation 166 Principal Stockholders 180 Certain Relationships and Related Party Transactions 182 Corporate Conversion 186 Description of Certain Indebtedness 187

Description of Capital Stock

Description of Capital Stock 190 Shares Eligible for Future Sale 197 Material U.S. Federal Income Tax Consequences to Non-U.S. Holders 199

Underwriting

Underwriting 204 Legal Matters 213 Experts 213 Change in Auditor 213 Where You Can Find More Information 214 Index to Consolidated Financial Statements F-1 We and the underwriters have not authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses we have prepared. We and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may provide you. We are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date. For investors outside of the United States: neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. You are required to inform yourselves about, and to observe any restrictions relating to, this offering and the distribution of this prospectus outside of the United States. Through and including , 2025 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealers obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription. i Table of Contents BASIS OF PRESENTATION SailPoint Parent, LP, the registrant whose name appears on the cover of the registration statement of which this prospectus forms a par

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