PING - Ping Identity stock pops after Q2 beats upside full-year forecast

Ping Identity (NYSE:PING) is currently up over 15% in pre-market trading after yesterday's second-quarter earnings and full-year sales forecast topped analyst estimates. Revenue was up 34% year-over-year to $78.9M with 93% coming from subscription-based sales. Adjusted earnings of $0.11 per share came in seven cents ahead of consensus estimates. Annual recurring revenue increased 16% on the year to $279.6M. “Results were bolstered by sustained improvement in the demand environment, which drove substantial growth in ARR and revenue that give us confidence for strong execution during the remainder of 2021,” says CEO Andre Durand. The company met analyst estimates with its third-quarter guidance, seeing revenue of about $65M versus the $65.21M consensus. ARR should come in between $286M and $288M. Negative free cash flow is expected to fall between $13,000 to $16,000. For the year, Ping (PING) expects $278-285M compared to the $269.40 estimate. ARR is forecast between $304M and $306M. Positive free cash

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Ping Identity stock pops after Q2 beats, upside full-year forecast