SailPoint, Inc. (SAIL) Earnings Call Transcript & Summary

Good afternoon, everyone, or I guess, good morning for many of you. Thank you all for joining us today. My name is Scott Schmitz with Investor Relations here at SailPoint. And we are very excited to show you all the highlights from our Navigate conference next week, which was a great event. But before I get started, a little bit of housekeeping. Today's presentation and discussion are strictly reserved for research analysts, shareholders and members of the financial investment community. If you do not fall into these categories, please disconnect from the webcast at this time. Additionally, please note that the development, release and timing of any features or functionality described for our products that are not currently available remains at our sole discretion on a when and if available basis. It may not be delivered at all and should not be relied on in making purchasing or investing decisions. We will not discuss the financial impact of products on this call. So with that, our agenda today is fairly simple. Chandra, our EVP of Product and Chief Technology Officer, will recap key messages from Navigate. And then in the spirit of showing versus telling Levent and Dan will demo the platform. And for Q&A, the chat function is enabled. So please type your questions as we go and we'll aggregate and address at the end. So with that, let me turn it over to Chandra.

Thank you, Scott, and welcome, everyone, to the Super Intelligence security briefing is the way I would describe it. So look, we are at AGI. And I think our -- or at least near AGI, and I think this is pretty important context for the conversation today because the speed at which these machines are operating, the scale and the complexity all has been driven by the fact that we are [indiscernible] AGI. So with that, I'll really start with what are the key messages that we really delivered last week and that we would likely to take away today. One is, look, given we are AGI, you can't really solve or you can't really secure AI by having a human-in-the-loop all the time. And I'll kind of walk you through more in detail. But -- so we announced our autonomous agents vision, a class of red, blue and green agents. I'll talk to you more about it, but that was -- that was a big announcement last week. We delivered and announced the very first operational identity platform that can truly deliver [indiscernible] 0 standing privilege. This has been an ideology for about 20, 25 years, getting the lease privilege and 0 standing privilege as really as the true north of being very secure. There's never been an operational platform that delivered it with what we GA at Black Hat and what we announced last week, the combination is the very first operational platform, both for human and for AI. Atlas, which is our platform that is the core service layer that underpins everything we do, we have completely rewired it. I'll walk you through the changes. We've also made Atlas extensible because our platform has got to be extensible. So we announced some major capabilities around plug-ins and application builder, a marketplace. And in fact, we conducted a hackathon with 250 to 300 developers hugely, hugely successful on using address extensibility. We have continued to innovate on the core that are -- because we have more than 2,000 cloud customers. And so the core innovation has been growing just as fast as these other things. And lastly, on the operational side, we announced a few new regions support for things around sovereign cloud, FedRAMP [indiscernible] as well as completely -- we showed a completely reimagined user experience. So those are the key messages that you should be taking away by the time we have done today. So I want to start with how we are solving the problem. The foundation -- the foundation is really solving it as a human plus AI problem because you can't really have 2 platforms, one for human, one for AI anymore. You have to solve both of these in the same place, which is what we are doing. And when you really introduce AI into the mix, right, you have speed, right, machine speed. And so you have to be -- so the platform has to be real time, and you have to be in line with threats. And on the scale side, we have done the math. We are beginning to see this in our platform already. There are somewhere between 75 million to 150 million agenetic interactions a day at [indiscernible] of large customers. Think of a global 2,000 corporation. When you give an agent the task, it calls multiple LLM, APIs, data and so on. When you do the math on all of that, it's about -- it's like somewhere close to 100 million interactions a day. At that scale, it's not just the scale, it's the topology and the complexity of those interactions, the surface areas that you have to deal with. This concept of Zero Trust, which was really invented 20 years ago for the human world will no longer work. This is why we announced our vision for autonomous identity. And we were very, very excited to launch our SailPoint autonomous agents. And we really describe them in 3 classes, right, to really simplify this. So -- and it's not like one red, one blue and one green agent. It's a class of red agents, a class of blue agents and a class of green agents. Let me really bring this to life for you because we kind of showed our vision around about 10 of these, right? So -- but let me really bring this to life. A red agent, a good example is, let's say, you are on PTO, you have a bunch of agents working on your behalf. You have a Microsoft copilot agent that's taken some notes in the meetings that your teams are doing, and you might have an Agentforce agent inside Salesforce and a cloud agent built by you on top of Google Cloud. Now one of those agents are accessing data that they were not supposed to, that you don't [indiscernible] so far, right? This is what a red agent will catch. It will basically say, wait a second. This agent has access in data, critical data that is human owner was not even supposed to access. And while they are on [indiscernible], this doesn't look right. Our red agent will catch that. The blue agent now is actually a defensive agent, a red agent is an offensive agent. The blue agent will be like, oh, okay, it looks like the red agent found something, let me go to further diagnosis on this. And if it actually determines there was a breach, it will stop that breach like meaning if this agent that is working on your behalf is accessing critical data that it's not supposed to, a blue agent will automatically stop it. Now a green agent is what we call a peacetime agent. A good example is automating certification. So look, our customers, these are the large ones, the complex ones, when they run a certification campaign today, even just on the human side, not even including the AI side, a lot of them have between 5 million, 8 million, 10 million line items in a [indiscernible] campaign, right? And just that's huge complexity. Our contention is 95% of that should be automated because you should -- we are moving to policy-based covenants in a policy-based world. You should be able to apply intelligence and automate 95%. That's what a green agent does, right? And so it's not just a vision. We announced that we will be launching a few of these, at least in the next few months. And in fact, last week at Navigate, we signed up one of the largest banks in the world as a design partner to actually build and deliver on the green certification agent by like the December, January time frame. So we are quite excited. This was extremely, extremely well received. Now look, the reality of today is 99% of the world is in standing privilege, right? So it's going to take a journey to go from where we are today to get to autonomous identity. That's why going through leased and 0 standing privilege is critical. This is why our announcement with what we GA-ed at Black Hat and what we announced last week, we are the very first operational platform that can truly deliver on leased and 0 standing privilege. Now we spoke to you -- I walked you through this exact picture on our Investor Day, I think many or most of you would have been there as well as at Black Hat, we announced a lot of those are, we generally make these available. So what I'm going to do in the next few minutes is really give you a glimpse of what's new that we announced last week, so that you know what's coming. I'm not going to rehash what is already in the market because we have talked with you about that already. So -- and the first of the newness I'm going to talk about -- oh, sorry, I'll start here, right, which is, look, the SailPoint value proposition across both agentic and the human side is discover, govern and protect. At Investor Day under Black Hat, I actually talked about protect and I said this is -- protect is where all the run time controls are, right? This was extremely well received last week. And in fact, there was a massive reinforcement that the world is sort of moving from doing discovery to really wanting to act on things they are finding and starting to do audit and governance, which is just under governed. And so this was extremely well received. But I also want to say because there continues to be a question about when SailPoint says runtime controls, how does it play with other IDP players, right? It could be an Okta, it could be a Microsoft Entra or a [indiscernible] so on. They -- what they do is -- the IDPs do authentication, right? And so both for human and for AI. So they are really the front office or the front gate, right, or the front door. Once they come in, what we have done now is -- with all the runtime controls, we have actually introduced another gate, right? And which is what we call a policy decision point, right? And so in the flow of traffic, so you can get authenticated and get to open exchange and a policy decision point will actually evaluate the risk of the access, right, and determine whether even though you have the right credentials for accessing a critical piece of data whether or not you should at this moment, right? That's what a policy decision point does. So protect, there are 5 runtime controls and this is a big deal because you want to have discovered govern and protect in the same platform. You don't want them in different platforms. So in terms of newness, right, let me quickly give you a sense and then Levent and Dan will actually show you. So as you know, we acquired intro about 90 days now. I'm thrilled to be announcing the SailPoint agentic fabric and Entra will be completely integrated come November, and the fully integrated product will be generally available. And at least in my experience and our experience is one of the fastest software integrations you will see. We have been very, very ambitious here given the pace of innovation in the market, we wanted to make sure that we had one product that actually brought everything together. So come November, this -- the fully integrated product will be generally available. On the SailPoint agenetic fabric, there were a number of net new innovations we announced. Let me give you my own personal favorites, and Levent and Dan will walk you through it. On the discover side, the main message that we delivered was really -- or what we announced was around posture, autonomous posture. And I'll tell you, look, we have 20-plus real-time signals to which we calculate a SailPoint risk score and get posture. Now the main differentiating part of the SailPoint posture relative to everyone else in the world is the fact that we can actually act on the posture. So it's not just, hey, that is an exposed credential our platform will allow you to go rotate that credential or delete it, right? And so you can act on the vulnerabilities you find. That's our main differentiator. On the government side, we are bringing certification for agents and human together. This is a big deal, right? You can no longer certify either human or an agent without knowing whose or the human or the agent associated with them and what they have access to. So we are bringing the certification experience for human and agents together in one platform. On the protect side, we are really delivering on just in time that are on top of -- it's not like -- we have 4, 5 controls in the market today. We have added more depth and expanded the surface area, right? So all around just-in-time, real-time authorization and the main advancement we announced last week and a ton of customer excitement was all around the ability to do real-time authorization to find and drive data. And the way we are doing it is through integration with all the big data cloud platforms, be it Snowflake, Databricks, big query and so on as well as all the existing DSPM providers, right? So [indiscernible], to proof point, right, were owned is, right? So if a customer has already done classification and as policy on data in those DSP and DLP providers, we will automatically integrate with them, grab that context and map the identity context, right? And so those were the things that we talked -- sorry, we announced and my personal favorites. On the human fabric side, I think, in fact, I would characterize our innovation on the human fabrics like to be just as rich actually, as what we have done on the agent side. On the discover front, one of the things that I'm personally most excited about is we are really bringing the element of risk and [indiscernible] to humans, right? So -- and this is a big deal. So now in our platform, if you go to the SailPoint human fabric, for every human, you will have a risk score and the risk score is not what they are supposed to access, what they are accessing at the very moment now in actually real time and the risk associated with that access, right? And so this is a huge advancement. On govern, we introduced -- we announced effective privilege. This is a huge deal because what you'll have access to is not what -- not just what is granted to you. It's all of the indirectly what you inherit through all the groups and roles you are part of, right? And it's always been there. It's been a hidden problem. And we kind of the world got away with it because at human speed, you couldn't really find these things. But these machines are running around and finding all this indirect access and they are becoming a major risk vector, right, a breach vector. And that's why now when we show an access graph in SailPoint's identity graph, you will see not only what the [indiscernible] privileges but also the effect of privileges. And we announced on protect not just JIP, but doing just-in-time authorization with policy continuous evaluation and so on. So that's quickly what to expect. And Dan will give you glimpse of that. On Atlas, like I said, I think massive innovations, right? So there are 4 layers of Atlas where we have completely reinvented. One is the data model, right? We realize you can't solve this AI problem without really completely redoing the data model. So we have really redone the data model to be from human to human plus AI. We have built a whole context and intelligence layer with the risk engine and intent engine as well as all of the privilege classification we are doing because that's the foundation for doing just in time and the policy engine -- the policy engine is core to actually us being the policy decision point, right? And so that is a net new innovation we announced. And the enforcement player, where we are the dynamic provisioning engine as well as the ability to respond right away from the SOC. So that's quickly what we announced in Atlas. Melissa, why don't we just go to the user experience because just I'm being mindful of the time. I just want to get through this. Look, for the longest time, the feedback has been like our capabilities -- excuse me, our capabilities are actually very good. The user experience needed some work, right. And we have heard it. About 9 months ago, we went and got a world-class designer to actually lead our design team. And he has done -- he has done an incredible job, he and his team. So we announced and sort of unveiled a bunch of our newer -- the new SailPoint experience on both the agent side as well as the human side. And it's not just the look and feel, we have taken a fundamentally different approach. It's all about -- our UI is now not just about who has access to what, not just intelligence, but the ability to act on it, right? And so a very action-oriented UI. We also think the users are expanding. It's not just an administrator or a practitioner. It's every business user. So we're also driving more of a consumerization of our in user experience -- excuse me, I'm fighting a little cold. But look, hopefully, that gave you a glimpse of what we announced last week. I know I went through it quickly, but what I want to do is hand it over to my good friend and colleague, Levent, our Chief Product Officer, who will actually show you some of the innovations we launched on the agentic side. Levent, please?

All right. Thank you, Chandra. Hi, folks, really excited to show you the product that we just talked about in action. So what I'm going to do is I'm going to walk you through our agent capabilities, our AgenticFabric. I'm going to walk you power security professional and administrator can discover, govern and protect their agents, their nonhuman identities, their credential, their secrets through our capabilities. And then I'm going to hand over to Dan, our VP of Product for our Human Fabric. He's going to walk you through our capabilities and all the innovations that we've done across the board on the human side. So I'm going to start with our agentic overview. This is when a secured administrator when they launched agentic fabric would land. You hear they can see all the agents that they have, right? All the unsanctioned AI, those AI platforms that maybe were not approved by the administrator beforehand, all the agents without owners, some major basically critical risks here that they want to know about, right, in numbers and all the agents that they have. And the risk widget here shows you the critical, the very well organized and sort of critical high and other findings here. You can see in one quick snapshot. A critical attack vector has been in both the frontier model exploits, but also, in general, in the cyberattack has been exposed credentials. These are the credentials that for some, shape and form linked either publicly or in the places that are acting publicly available or accessible to other customers or other users. So you can quickly see all your exposed credentials here we have detected also sorted by criticality. And this is basically just a great dashboard that gives you like a quick glimpse of your landscape, the top risk, the top pieces that you have to pay attention to. We have this AI agents here again. We -- one of our key capabilities is behavioral monitoring. We monitored the agents and their behavior as well as NHI and their use in almost near real time to see the spikes in their activity. I'll show you more about this in detail in a second. So we have some great data here about what we found, some of the anomalies that maybe we flagged. And in some real useful information here that you can see in the dashboard. But let me begin to a little more detail about what we actually show. So let's start with the agent inventory. Now our inventory is aimed to be the single source of truth across all your digital landscape. We have multiple, as Chandra said, we have multiple detectors and sensors. We plug into the platforms. We have thousands of connectors, first of all. And then in addition to that, we plug into all the top AI platforms, all the critical SaaS platforms that are used in enterprise that you can imagine as well as, of course, we have our own sensors on the endpoint, so we can detect any kind of endpoint agent activity ourselves as well as on the web browser. So we have a very great easy-to-deploy centralized web browser plug-in that basically detects any kind of user and age of interaction. Now that's very critical because that means that we can basically detect the full life cycle of an agent and the use of NHI from beginning to end, from the point that the user may be prompted an agent with a specific task where we can understand the intent and how it's planning its activity all the way to actually accessing the resource and executing the mission. And all along, we can track all that activity and detect behaviors, right? So let me show you how we do that here. So here is, for instance, this is all of our agent inventory. Let's click on one of these. So here very quickly, you can see who owns this agent? What are the other users or owners that does this? This was clearly a [indiscernible] it's accessing AWS. So let's look at the critical actual insight that our customers love, which is the lineage, the usage and the lineage of this agent. So here you can see [indiscernible] created this agent on her local MacBook Pro. It was a [indiscernible] agent and some interesting things, right? Like so this agent is using multiple identities. They cut all of them, right? There's a service account here, there's a token here that we kind of created. And you can also see what these agents and through these identities are accessing to. So in this case, it's a very interesting one. Like it's accessing a storage, S3 storage account. It has access to [indiscernible], the design system. It has a production sequel database. So these are some really high privileged access that this agent has through [indiscernible]. So -- and that's why it was -- if you look at it, it was probably ranked as critical, right? So let's kind of go dig into further [indiscernible] here, right? So we can look at the access graph of this agent. So we -- the linear show to what it did. The access graph shows what it has access to that also goes into our risk calculation. So you can see the full access graph of what this agent can do. You can zoom and [indiscernible] understand that. And you can see the identities that are using it. The accounts are associated with it. But here's the most important tab, I would say. We have a dedicated risk tab here for this agent. We figured out the top issues that this agent has demonstrated and classified those risks. In this case, this agent was using an unclassified unsanctioned MCP server. So that means it have capabilities that you -- the administrator probably didn't know about that could be dangerous. It's an unsanctioned platform. So that's clearly another risk factor. The human-owner was confirmed, but the ownership was -- is not exactly a -- classification is exactly matching the behavior. So some really great details here that you can see right off the bat. And here is another critical piece here and this is the behavior. So I talked about our abnormal behavior detection. This is basically that in action. You can see on this graph, all the sessions and activity that this agent has done over time. And when there were specific things like -- or this process in the very first one was an unsanctioned agent platform that we saw that -- and then it was accessing -- it did a spike in its planning for a specific activity. All of these get -- basically got flagged on our abnormal behavior detection. And that figured into the high-risk severity. So we already kind of found that from very getgo that hey, this is their high-risk agent, accessing production systems, unsanctioned platform, you don't want this. So again, as Chandra said, this is not just a discovery platform, this is an action platform. So you can very easily take action on this and you can create policies to, first of all, block this action, I'll show you how. But in this very moment, we know that this agent is to go, so we can just simply say deactivate and deactivate that agent, and that would be done. As easy as that, okay? So that's the power of this platform. We can deactivate and take action in a moment. That's our kill switch that we have here. Now let me move on in the interest of time here. We talked about a lot about agents and how we detect it. But the reality is agents use credentials and equally important to manage and govern and protect other credentials. And here, we can see all the credentials that your landscape has. You can slice and dice them by idle ones, by exposed ones, maybe ones that are owned by former employees. That's a major flag that we should manage those ones that are privileged and you can easily go through those filters and either rotate them or take action on them. And -- but more interesting about credentials and one of the top attack vectors, as we mentioned, especially the frontier model incidents exploited was exposed credentials. So let's go there because this is one of the key areas that are -- when we do a POC, customers get surprised quite a bit about. They are so surprised, a, they have way more agents and how they are way more credentials than they thought they have; and b, how many of those credentials are actually exposed are not secured or stale or owned by former employees. So -- this is the place that they would come to in this case, expose credentials, and they would take action on it. So for instance, in this case, let's take one, this one -- take a random one here. This was the AWS credential expose Slack channel, right? You don't want that because Slack channels are not exactly safe places to expose your credentials. Again, you can see how that credential was used. In this case, it was another user. It was a cursor agent and then that credential that got used for a much other things and we can easily take action on as well as Chandra said, to rotate it or be activated. So -- that's basically our [indiscernible]. Now to share this was just one risk vector to really explore all the risks on your landscape, which is, again, one of the top areas that people are very curious about and get surprises when we do a POC with them is the risk center. This is the place that they come to see all the top risks. Again, here you can sort by critical risks and various type of filters here that we can go to abnormal tokens, abnormal [indiscernible] activity for employees, again, and you can basically go ahead and easily see these risks and handle them as you see. You can see the details, all the connected services, all these pieces are here. All right. So now we talked a little about activity of agents and NHI, the risks around them and how we can manage it, how we can govern and protect them. Let me focus into an area that is very critical for our customers, and that's audit and compliance. So usually, audit and compliance is this ceremony that takes, in some cases, honestly, weeks to finish and months for some of our large complicated customers. And we didn't thought people about how we can innovate here? How can we make their job easier, faster [indiscernible]? And we came up with a new innovation here that no other vendor has which is [indiscernible] easy to use other reports. That automatically run on a schedule that you would like. So here, we have basically covered most of the frameworks that our customers are trying to out comply to like GDPR and HIPAA and the EU AI ads. And the great thing about these is while we have these [indiscernible] reports that we can just simply export that just create the [indiscernible], and that's going to basically be in progress, and it's going to be ready probably in a few minutes. You can do this. You can export anything. You can also schedule this on a time basis. So this is a great innovation that we added. Customers love it so much that, hey, I want this on the human side, so we're going to now unify our other capability and create our own [indiscernible] as well, these capabilities. And it's really been a very exciting capability for our customers. And each of these are also customizable. So if you those pre-canned reports doesn't fit your needs, you can actually go ahead and create your own customized evidence reporting that's as easy to export. All right. I am mindful of the time here. Let me come to a very important protect capability. And that's our authorization, agent authorization capabilities. So one of the key things our customers, of course, faces once they discover an agent and their agents in their landscape, once they discovered NHI. The first thing they want to do is start putting guardrails. For instance, they can be very simple, they can be very complicated. We can do all of the guardrails that people want to create. But for instance, one guardrail that people want to create is, hey, look, first, I'm deploying a coding agent for my developers, obviously, those coding agents have some critical access to GitHub and other resources. I don't want that maybe to access. I don't want that to be used by people in marketing department. We can do that, right? We have authorization policies that enable that. So here, we have this policy center that enables you to create all these great policy types. I'm going to show you a quick one here. In this case, for instance, we have another one that says, say, look, I do not want our agents to send Slack messages, right, because you don't want to maybe spend the user or share credentials or anything like that. So let's walk through this. This policy basically says, hey, make sure that Claude code, right, agent using an MCP servers, it could be a server, it could be a gateway, it doesn't matter. Whatever they use. Again, we enforce it on multiple layers. That's the power of SailPoint, cannot send any Slack messages, right? And remember that we can -- notice that this is a very fine grain policy. It just says do not send messages. You can still read messages on the platform with this policy. So this one is enabled. That means you already have the protection. So if I were now to create an agent and that try to create a Slack message, it would not work. Now I will -- so that's a very quick glimpse of all the capabilities that we have on the SailPoint agentic fabric. We have way more than that, the time doesn't allow us to show it. But these are some of the top customer favorites. I'm going to hand it over to Dan Martillotti, our VP of Product for Human Fabric, who is going to walk us through the innovations that we have on the human agenetic side or human fabric side.

Thanks, Levent. I'm going to go ahead and look at what we see from our autonomous identity security posture management that Chandra talked about earlier. It is the ability for somebody from a security and risk perspective to be able to see what's happening across their identity program for all types of identities, whether it be human identities or nonhuman identities. And look at a variety of posture dimensions to understand what's happening within the environment and what risk may exist. Now as Chandra mentioned earlier, the key thing around the posture management work that SailPoint is doing here is it's not just visibility, it's about remediation and action. So when we identify where there is a potential issue within the system, we're going to use AI to be able to analyze the risk and provide you with a recommended remediation of that risk that you can then execute from within this single dashboard. The other interesting thing about this whole program is as organizations are expanding their identity program and expanding the types of identities that they're governing understanding their capability adoption of the program and how that impacts the ability to truly govern what's happening in their environment. So this gives them some insights into the adoption of capabilities that they have across the SailPoint platform and how that impacts their potential risk posture. Now let's take a shift and look at an administrator and the work that they're doing to onboard entitlements into the identity program so that they can be properly governed. So a couple of years ago, we rolled out the ability to just create entitlement descriptions. And the idea of entitlement descriptions are as an application owner, when I define the description of an entitlement, I do it from the perspective of an expert and it doesn't necessarily translate into descriptions that end users understand about that application. So we discovered -- we created capabilities to create descriptions, but now we've automated that process. So when I onboard a new application and we discover new entitlements, we're going to automatically generate entitlement descriptions for all of those entitlements as the administrator of the program, you can review those [indiscernible] descriptions and make adjustments to them. But now by providing that level of context, when anybody needs to interact with the application, they have better understanding of what that entitlement grants access to. Now another view of this is looking at what we're doing from a privilege perspective. So as you're onboarding new applications, being able to evaluate those entitlements and help you understand what is the privilege associated with each of those entitlements. Is it high privilege? Is it medium privilege? And giving you the ability to make adjustments to that. We also talked earlier about this idea of effective privilege. So I can see for a particular entitlement how that privilege severity was defined, and it can include the effective privilege as associated with the embedded entitlements that are a part of that role. And that's the power of the identity graph. So now we're going to transition to an end user who needs to request access. They need access to go in for themselves, and we've generated a new user experience where instead of having to go in and search for particular entitlements or know the name of something, we have a new a genetic experience where you can go in and interact with search and say, I need access to run payroll, for example. We're going to do an analysis of who the user is, what roles they have within the organization and make a recommendation for the role or the entitlement that they should request. So this is a high privileged role and it is also a just-in-time role. So I'm going to add this to my request and submit it. Now what traditionally would happen is that entitlement or that role would be provisioned to the end user, and they would have standing access to go perform that task. Well, since this was a just-in-time privileged entitlement, we now have a launch pad that the user can go to. And when they're ready to use that entitlement that they are preapproved for, they can click on start session. That will be when we automatically provision the access for that particular item within the boundaries of policy associated with that access. And we may require the user to provide some justification or a ticket number to be able to activate this access. But once the activation happens, now we provision that, the user can perform that task, they're time bound based on the policy associated with that particular entitlement and when they're done, they can simply end the session and that de provisions that access, right? So now we've moved from standing privilege or standing access for privileged entitlements to just-in-time access when I need to use it. So I've got preapproved permission, but it's not a standing privilege. And then last but not least, we talked earlier about certifications. This is one of the toughest things that our customers have to deal with. You're asking day-to-day professionals to go in and certify and review the access of all of the employees that they've got. I know that when I talk with Levent about this, right, there are things that I have access to or people my team have access to. We're not quite sure whether they should have that access or not. We don't have all of the details about the entitlement or how they're using those entitlements. Well, with this new mechanism that we've developed, we can go in and automatically generate and review the access associated with all of those users that make this recommended decisions on the access for all of those entitlements. And it's going to be based on a variety of guardrails that are defined as the certification policy is put into place. So I can create guardrails at say, for example, if this is privileged access and it hasn't been used in the last 30 days, recommend revoking that access. If it's access that's been reviewed multiple times and have been approved, well, let's just go ahead and automatically recommend keeping that access. What we see as a reviewer now is all of the recommended actions that are being taken. I could override these if I choose to, but I can see all of the details associated with every single one of the decisions that the system has made, and I can choose to adjust or confirm those decisions. We believe this is going to really reduce the amount of time that people spend reviewing the access that their employees have and really create more value. Chandra, I'm going to turn it back over to you for any closing thoughts.

Sorry, yes. No, look, I don't have any particular closing remarks. Scott, I'll turn it over to you because I think we should really move to taking Q&A now.

Perfect. Yes. There are several questions that were submitted. So if you others, please type them in, and I'll go through a few here. So the first one I wanted to relay to the team, and there's a couple of different versions of this. So I'll just read one of them that kind of encompasses it. But a lot of identity security players are trying to become the run time enforcement layer for agentic identity. What gives SailPoint the right to win here compared to other identity vendors, which are already operating in line for human access management?

Sure, sure. I'll start. I'll answer that in 2 parts, right? One is, look, the only way to have -- or the only way to really enforce runtime controls in a very, very effective way is to have [indiscernible] identity context. And the best way to think about this is the proverbial kill switch now, right, the kill switch for agents. A lot of runtime platforms claim to have a kill switch, right? Our view is an agent kill switch is supposed to kill a bad agent. Now a kill switch should know or what's the basis on which a kill switch will know what is a good agent versus a bad agent, right? It's like giving security guard a gun and say, well, shoot the bad players, right? They've got to know how to distinguish the good and the bad player. That requires knowing deep identity context, right? We've got to be able to say this agent is a bad agent because it violated all the policies of access. There is a pattern of access behavior here where it's tried doing bad things. We have analyzed the intent for that agent. And it doesn't have the right intent in the way it's prompting. And so with that depth of context, we -- you have to combine that with the runtime control, which is what we are doing, and that's a real differentiator. That's -- and the context comes from discover and govern and protect is where we enforce that, right? So that's sort of part one. Part 2 is in almost all -- in most cases, we actually coexist. It is not a one size fits all. It's not a one winner takes all, right? So let me give a couple of examples. So you could say Okta, Microsoft Entra, they are in line with the traffic. They are looking at the token, they are doing token exchange and so on. But they are really the front door. Once you are inside at a very fine -- they will tell you, you have access to the Snowflake database, okay? Go, you validate it. Now it could be a human or an agent. But a specific role or a column of data inside Snowflake and what is the -- and if it's -- whether the data is very sensitive, -- and at the very moment that human or agent can they have access to it, that context, they don't have, that context we have, and that's why we have the policy decision point, and we are the real-time authorization engine. So they do the IDPs do authentication, and we do authorization, find great authorization. So hopefully, that makes it clear on why on the differentiation and the need to coexist.

Great. And I think a good follow-up to that is then we get -- we have several questions on just the differentiation versus the platform vendors and what telemetry do we rely on from those vendors? And what are we incorporating into our platform from the platform players?

Yes. Levent, do you want to talk about how we have our own telemetry, but we also get all the logs from the

That's right. Exactly, yes. I can jump in. So look, I mean, look, we are obviously -- we're hooked into as many places as we can, and we never turned down data. So we, first of all, have our own sensors and telemetry directly that we source, right? Again, from agentic perspective, we're on the endpoint. We have an endpoint sensor, as I mentioned earlier. We're in the web browser, so we can get direct interaction with the web browser agentic pieces, right? We are -- have thousands of connectors. So we connect to all types of different sources, right, in the -- both for humans and the agents combined, right? So we can see their access, what they are entitled to. We actually manage that access, right? We control that access and we know exactly what the provision, not provision for. Now on top of that, of course, we have -- we also plug into all the [indiscernible]. We can get like real-time log data from many of the providers out there from like network providers and IDPs, both at the log layer, but also at the direct integration with their platform. So we can see all the activity through both those platform players as well, very easily. So literally, like I can't go into details here, but we are aggregating and putting all that information together. It's our unique differentiated data that we have through our thousands of connectors, our presence to endpoint and web browser and the direct plugins to these platforms, plus we also cycle the data in as the customers, of course, allow us to do to overlay it, combine it and add human and data context to it. And that's a part of it. We make intelligent risk assessments and creations and create policies out of it than people can deploy on their platforms.

Levent, it's not just access to applications, there's also access to data, right? So we look at it holistically across the board.

That's right. We plug into the DSP [indiscernible] providers. We get -- we have our own classification, but we also get all the [indiscernible] classifications for customers that have existing classifications from their like Microsoft [indiscernible] of the world or [indiscernible] of the world. So we can easily get that and also make that a policy decision parameter for our policies of our customers on our platform.

Got it. So I think you probably answered this in some of that response. But then what makes identity or SailPoint, the right kill switch relative to some of those other players in the market, right, where they have a lot of visibility as well, why is SailPoint the right kill switch?

Yes. It's really the -- it's the -- we use the word context. And I recognize it's actually an overloaded work. So the plain English translation of that is the kill switch needs to know, particularly for agents, right, what is the risk associated with that agent? And if that agent has done or if that agent has gone rogue because -- it is like drifted from policy, the policies that were assigned to it to how bad is it drift. Is there a pattern of behavior over the last few weeks where it has continuously drifted, analyze the intent because a lot of times, what people don't realize is agents are prompting. They will go to a command line interface, and they will prompt something to get access [indiscernible], let's say, analyzing those prompts and seeing whether the intent behind those prompts is right. This is what we do, right? And so when we say the lineage, the depth of context, we take like 10 parameters into account to actually determine risk. And this is why this risk and posture is very important. Now then we use that to do the enforcement, right? Actually, doing the enforcement is actually the last mile, 80% of the traffic is an actually make doing all the analysis, the policy drift, the risks, the intent, all that analysis to make sure that you are 100% convinced that you have spotted the real bad actor and now is the time to stop that.

And Chandra, the additional piece of that, right, is the human context, many of those agents that you're talking about are acting on behalf of somebody. And so if the human context provides insight that there's risk that can flow through as a part of that.

I mean imagine like it's someone -- imagine agent shows up on your front door, and they have a pass that says, hey, I want to access [indiscernible]. Like I want to get into this house, right? If they have a visitor pass, it looks legit, right? That's what an access layer does, right? They let them in based on that pass, which is a token where they claim on it, right? But what SailPoint does is hold on. That agent is trying to access or that person is trying to access that house, right? They have bad intentions. They were trying to break into deep financial information may be. They're owned or they are associated with a network of bad players, right? They are like your behavior in the past right, that have like malicious intent and malicious behavior in the past, right? And they're trying to obviously get access all the critical things in your house. Would you let them in? That's the SailPoint power, right? And access they might just see the tokens, oh, you have a visitor pass, go in, but we see the full context of data, what they have done, what they did, what they want to do and basically stop it right there. So I think that's the differentiation that we bring to the table.

Very helpful. And next question is really, again, all these are kind of related, but how do we enable the provisioning, certification review of agents that are ephemeral in nature? And how do we manage the [indiscernible] agents?

I can take that. We capture [indiscernible] agents just easily because, again, we have near real-time capabilities of the detecting these agents in real time with our sensors, right? So we can see them. And there are multiple ways. First, we can -- as I show, we can create policies to say, hey, look, in allow sanctioned AI platforms to do certain things, and I don't want them to access to certain resources. For instance, a marketing agent. However, like long-lived [indiscernible] cannot access maybe GitHub [indiscernible], right, or production systems for coding. So those policies get applied no matter what [indiscernible] or not, we detect them, we apply our policies. And of course, also have a record of [indiscernible] as well. So if you need to certify their access or audit them, we have -- we'll have all that in our evidence trails.