Ping Identity (PING) Reports In-Line Q4 EPS

Ping Identity (NYSE: PING) reported Q4 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $63.3 million versus the consensus estimate of $68.82 million.

“We exceeded our expectations in the quarter related to our Annual Recurring Revenue -- the key measure of our growth,” said Andre Durand, Ping Identity’s Chief Executive Officer. “With the growth and rising demand for our cloud offerings, we now have more than half of our customers accessing our solutions in the cloud and a rapidly growing portion of our ARR from SaaS. This is a key indicator that our investments related to cloud and new product innovations are gaining strong traction in the market.

“As we build our capabilities, it is particularly gratifying to be recognized by Gartner for our leadership in their Magic Quadrant across all use cases,” added Durand. “We continue to roll out new services on our SaaS platform at an accelerated pace. Our latest SaaS service, PingOne Verify, leverages the capabilities of our ShoCard acquisition we completed in 2020. For our most forward-thinking enterprise customers with cloud-first mandates, we’re seeing accelerating demand for our advanced services running on our cloud platform. Helping these enterprises achieve Zero Trust, seamless digital experiences, and passwordless authentication while driving to the cloud is becoming our number one focus and we’re directing our investments into these areas.”

For earnings history and earnings-related data on Ping Identity (PING) click here.

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