SAIL F1Q27 Earnings - You Can't Spell SAIL without AI

研报英文原文证据摘录

SAIL F1Q27 Earnings - You Can't Spell SAIL without AI

June 9, 2026

Callback Highlights

FX Impact. Last year there was a one point FX benefit to total ARR growth. This quarter, total ARR growth was 26%,

down from 28% in 4Q, which 4Q still benefited about a point from FX. On a CC basis total NNARR would have been

up MSD (vs -21% reported) while total SaaS NNARR would have been 30%+ vs +5% reported. There is also a one

point headwind to the reported NRR.

AI. There is nothing unusual to call out that is preventing management from raising the guidance by more than the beat

to reflect the AI positivity that they expect will start to show up in the 2H. SAF is only out a month, they are having tons

of dialogue with customers about it, but they still feel like it is too early to quantify what the impact will be. That being

said management is doing everything short of quantifying the opportunity to signal to investors that AI is coming and

importantly, SAF is not baked into the guidance and would be upside to the current outlook today.

New Logos. We were told that SaaS customer growth was very healthy. Customers that were lost were sub $100K

on-prem non-strategic customers. The customers that SAIL landed were greater than 3x in ARR than the customers

they lost.

Conversion. Management is still seeing 2-3X uplift at point of migration, and they continue to see those cohorts expand

even further to the 3-4x range. Conversions are 3-4 points of the current NRR and is the largest contributor to the total

NRR number now. Management sees a chance that the largest component of NRR shifts to agentic uplift but does not

currently guide it.

Breach Impact. No impact in the quarter from the recent breach. No impact to production environments and no customers