PING - Ping Identity down sharply after earnings report soft Q4 guidance

Ping Identity (PING) down 8.0% following Q3 beats with a softer Q4 outlook.Total revenue was down 3% Y/Y to $59.9M, of which 92% was subscription revenueARR was up 17% Y/Y to $242.6M at the end of the quarter. Customers with ARR over $250K totaled 252, up 11%."We saw solid improvement in our cash flow from operations, increasing $11.5 million year over year, while our Unlevered Free Cash Flow margin for the nine months ended September 30, 2020 was 6%" says Raj Dani, CFO.For Q4, Ping expects revenue of $67-70M (consensus: $68.4M), total ARR of $255-257M and unlevered FCF of negative $3-5M.Previously: Ping Identity EPS beats by $0.09, beats on revenue (Nov. 4)Related: Ping Identity Holding Corp (PING) CEO Andre Durand on Q3 2020 Results - Earnings Call Transcript (Nov. 4)

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Ping Identity down sharply after earnings report, soft Q4 guidance