New SaaS ACV Bookings of Nearly $60 Million Pushes Annual Recurring Revenue Over $200 Million
Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced select year-end financial and operating results, including record revenues and contracted ARR. Saviynt's intelligent cloud-native platform, the Identity Cloud, is transforming identity security by providing visibility, control, and intelligence to identity management.
"2024 proved to be a watershed year for the company, with excellent results on all fronts," said Sachin Nayyar, chief executive officer at Saviynt. "On the strength of the formidable team we've assembled, the partnerships we've expanded, and the compelling enhancements we've made to our converged platform, we are clearly recognized as the leader in identity management. We also added a significant number of new customers who parted ways with our competitors. We are heading into 2025 as the preferred choice for organizations who recognize the future of identity security is a comprehensive solution in the cloud."
2024 highlights include:
- Year-end 2024 ARR up over 35% year-over-year
- Subscription revenue accounted for 88% of total revenues
- Total new SaaS ACV bookings were approximately $60 million, up more than 35% year-over-year
- Contracted GRR exceeded 95%, or 98% when excluding downsell
- Increased NRR from 104% to 111%
- Subscription Gross Margin reached nearly 80%
- Became profitable in 2024 generating positive cash EBITDA for the fiscal year
"We are transforming the industry from on-premises and manual IGA solutions to our converged, cloud-native identity security platform. We had great success in 2024 helping organizations leave behind their previous solutions from legacy providers such as SailPoint, Oracle, CA, and SAP," said Paul Zolfaghari, president at Saviynt.
"In 2024 we continued to exceed our targets across the board in terms of financial and operating metrics," said Jim Jackson, chief financial officer at Saviynt. "We are demonstrating impressive consistency in our growth and financial performance as well as operational efficiency. Our commitment to product superiority and the efficiency of our go-to-market motion supports our continued investment in these areas.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt is recognized as an industry leader in identity security whose cutting-edge solutions protect the world's leading brands, Fortune 500 companies and government organizations. For more information, please visit www.saviynt.com.
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Contacts:
Press Contact
Jacklyn Kellick
jacklyn.kellick@saviynt.com
