SAIL Investor Day: FY29 Targets Add Confidence to Agentic Story

研报英文原文证据摘录

SAIL Investor Day: FY29 Targets Add Confidence to Agentic Story

is targeting $800M+ in AI

ARR by FY29, which underscores confidence in 20%+ growth durability. SAIL sees its wallet share

essentially doubling (corresponding with TAM estimate increase to $90B from $55B), given agentic

purchases are often with made with AI budgets.

Agentic Acceleration. SAIL launched Agentic Acceleration, a methodology to automate migrations

from IdentityIQ and legacy on-prem identity systems to its Identity Security Cloud. Virtual Architect,

the underlying AI engine trained on 20 years of SAIL data, converts legacy setups into cloud-

ready environments, reducing cost, risk, and migration timelines. Mgmt sees a $1B+ incremental

ARR opportunity (~$1.5B post migration expansion) from the existing IIQ installed base (~$350M)

migrating to ISC, with only ~15% of the on-prem base expected to have migrated by the end of FY26

(expects 10%+ to migrate each year thereafter). The offering is available at no additional cost for

customers upgrading from IIQ or competing legacy solutions and is expected to compress monthly

timelines into days.

Entro Acquisition. SAIL plans to acquire Entro and integrate it into Agentic Fabric to expand controls

and credentialing for non-human identities (covering 1,000+ NHI types). Mgmt expects the deal to

close in F3Q (potentially earlier) and plans to integrate aggressively. Rev/ARR contribution was not

disclosed, with the deal framed as primarily a tech and talent acquisition.

Joseph Gallo * | Equity Analyst

GTM. Focus remains on new logo acquisition, platform adoption, and modernization of the legacy (212) 336-7402 | jgallo@jefferies.com

base.