PING - Ping Identity Non-GAAP EPS of -$0.34 misses by $0.22 revenue of $72.03M misses by $1.27M
- Ping Identity press release ( NYSE: PING ): Q2 Non-GAAP EPS of -$0.34 misses by $0.22 .
- Revenue of $72.03M (-8.7% Y/Y) misses by $1.27M .
- Total revenue was 92% was subscription-based
- Annual Recurring Revenue ("ARR") growth accelerated to 22% year-over-year, growing for the sixth straight quarter on a year-over-year basis to $341.0 million at June 30, 2022
- Software as a service ("SaaS") ARR now exceeds 30% of total ARR, surpassing the $100 million threshold
- SaaS revenue for the second quarter 2022 grew 69% year-over-year – accelerating for the fifth straight quarter
- The company also announced it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, for $28.50 per share in an all-cash transaction valued at an Enterprise Value of approximately $2.8 billion. The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including approval by Ping Identity shareholders and regulatory approvals. Closing of the transaction is not subject to any financing contingency. Upon completion of the transaction, Ping Identity's common stock will no longer be listed on the New York Stock Exchange and Ping Identity will become a privately held company.
- Shares +60% PM
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Ping Identity Non-GAAP EPS of -$0.34 misses by $0.22, revenue of $72.03M misses by $1.27M