Ping Identity Reports Fourth Quarter and Fiscal Year 2019 Results, Provides Outlook for 2020

  • ARR was $224.9 million, up 23% from the prior year period
  • Fourth quarter total revenue was $68.2 million, of which 94% was subscription revenue
  • Now have 38 customers spending greater than $1.0M in ARR, representing 52% year-over-year growth

DENVER–(BUSINESS WIRE)–Ping Identity Holding Corp. (“Ping Identity,” or the “Company”) (NYSE: PING), the Intelligent Identity solution for the enterprise, today announced its financial results for the quarter and year ended December 31, 2019.

“We are pleased with our fourth quarter results, and continued momentum with large enterprise customers deepening their adoption of Ping Identity’s Intelligent Identity Platform. Our unmatched deployment flexibility and experience partnering with customers to solve mission critical challenges remains a key differentiator in why enterprises choose to partner with us,” said Andre Durand, Ping Identity’s founder and Chief Executive Officer.

“Since our Initial Public Offering in September, Ping Identity has successfully deployed solution enhancements across our portfolio, landed additional Fortune 1000 customers, bolstered our leadership teams in sales and marketing, and benefited from the additional public markets exposure to further the reach of our brand. We are excited to continue to partner with enterprises as they undergo their modernization, cloud transformation, and identity security initiatives,” Durand concluded.

Financial Highlights for the Fourth Quarter and Full Fiscal Year of 2019

ARR: Ending ARR at December 31, 2019 was $224.9 million and represented a 23% increase compared to the same period last year. Ping Identity defines ARR as the annualized value of all subscription contracts as of the end of the period.

Revenue: Total revenue for the fourth quarter of 2019 was $68.2 million, an increase of 15% year-over-year. Subscription revenue was $64.0 million, an increase of 14% year-over-year. Total revenue for fiscal 2019 was $242.9 million, an increase of 21% year-over-year.

Cash Flow: Net cash provided by operating activities was $5.8 million in the year ended December 31, 2019 compared to $22.9 million in the year ended December 31, 2018. Unlevered Free Cash Flow usage was $1.2 million for the year ended December 31, 2019, inclusive of contingent deal consideration in the amount of $4.9 million, compared to an inflow of $26.7 million in the year ended December 31, 2018.

Dollar-Based Net Retention Rate: For the period ended December 31, 2019, Ping Identity’s dollar-based net retention was 115%.

Please refer to the section titled “Use of Non-GAAP Financial Information” and the tables within this press release which contain explanations and reconciliations of the Company’s non-GAAP financial measures.

Recent Business Highlights

  • Secured a new Fortune 500 telecommunications customer for customer identity and single sign-on. The customer intends to deploy the Ping platform in Amazon Web Services for maximum customization and control.
  • Continued to see positive proof points with PingIntelligence, closing a deal with an existing Fortune 100 financial services customer for over $250,000 in ARR and starting several large pilots with Fortune 1000 enterprises.
  • Ended the year with 1,361 customers, of which 38 spend over $1.0 million in ARR, representing a 52% year-over-year growth rate in that cohort of customers.
  • Refinanced existing term loan with a $150.0 million revolving credit facility. At December 31, 2019, the Company had $52.2 million outstanding under the credit facility. As a result of the refinancing, Ping Identity expects to see a 250 basis point annualized interest rate improvement.

“We delivered another strong quarter as enterprises continue to rely on Ping Identity to provide comprehensive Intelligent Identity solutions that secure and transform their business,” stated Raj Dani, Chief Financial Officer of Ping Identity. “Total ARR grew 23% versus the prior year period, which we believe provides the best representation of the underlying health of the business. We’ve continued to responsibly manage this growth and investment in innovation with profitability that has resulted in an improvement from a net loss of $2.1 million in the fourth quarter of 2018 to net income of $2.2 million this quarter. Our Adjusted EBITDA margin was 18% for the quarter and 21% for the year. Our 38 customers with over $1.0 million in ARR is a testament to the performance, durability, and mission critical nature of our solutions within the most strategic areas of our large enterprise customers.”

Financial Outlook

Ping Identity provides the following expected financial guidance for the quarter ending March 31, 2020 and the fiscal year ending December 31, 2020:

  • Quarter Ending March 31, 2020:

Total ARR of $228.5 million to $230.5 million

Total Revenue of $60.5 million to $62.5 million

Unlevered Free Cash Flow of $6.0 million to $8.0 million

  • Year Ending December 31, 2020:

Total ARR of $263.5 million to $267.5 million

Total Revenue of $263.0 million to $273.0 million

Unlevered Free Cash Flow of $5.0 million to $9.0 million

Conference Call Details

In conjunction with this announcement, Ping Identity will host a conference call today, March 4, 2020, at 5:00 p.m. Eastern Time to discuss its financial results. To access this call, dial 844.583.4551 (domestic) or 825.312.2270 (international) and reference conference ID 4168129 to the operator. A live webcast as well as the replay of the conference call will be available on the Investor Relations page of the Company’s website at investor.pingidentity.com. A replay of this conference call can also be accessed by dialing 800.585.8367 (domestic) or 416.621.4642 (international) until March 11, 2020. The replay passcode is 4168129.

Use of Non-GAAP Financial Information

In addition to Ping Identity’s results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company believes the following non-GAAP measures presented in this press release and discussed on the related teleconference call are useful in evaluating its operating performance: Non-GAAP gross profit, Non-GAAP operating expenses, Non-GAAP net income, Non-GAAP net income per share, Unlevered Free Cash Flow, and Adjusted EBITDA. Certain of these non-GAAP measures exclude stock-based compensation, depreciation and amortization expense, loss on extinguishment of debt and acquisition-related expenses. Ping Identity believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided herein for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

Forward-Looking Statements

In addition to historical consolidated financial information, certain statements in this press release and on the related teleconference call may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements other than statements of historical fact included in this press release and on the related teleconference call are forward-looking statements. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements Ping Identity makes relating to its estimated and projected costs, expenditures, cash flows, growth rates and financial results or its plans and objectives for future operations, growth initiatives, or strategies are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that the Company expected. Specific factors that could cause such a difference include, but are not limited to, those disclosed previously in the Company’s other filings with the SEC which include, but are not limited to: our ability to adapt to rapid technological change, evolving industry standards and changing customer needs, requirements or preferences; our ability to enhance and deploy our cloud-based offerings while continuing to effectively offer our on-premise offerings; our ability to maintain or improve our competitive position; the impact on our business of a network or data security incident or unauthorized access to our network or data or our customers’ data; the effects on our business if we are unable to acquire new customers, if our customers do not renew their arrangements with us, or if we are unable to expand sales to our existing customers or develop new solutions or solution packages that achieve market acceptance; our ability to manage our growth effectively, execute our business plan, maintain high levels of service and customer satisfaction or adequately address competitive challenges; our dependence on our senior management team and other key employees; our ability to enhance and expand our sales and marketing capabilities; our ability to attract and retain highly qualified personnel to execute our growth plan; the risks associated with interruptions or performance problems of our technology, infrastructure and service providers; our dependence on Amazon Web Services cloud infrastructure services; the impact of data privacy concerns, evolving regulations of cloud computing, cross-border data transfer restrictions and other domestic and foreign laws and regulations; the impact of volatility in quarterly operating results; the risks associated with our revenue recognition policy and other factors may distort our financial results in any given period; the effects on our customer base and business if we are unable to enhance our brand cost-effectively; our ability to comply with anti-corruption, anti-bribery and similar laws; our ability to comply with governmental export and import controls and economic sanctions laws; our ability to comply with HIPAA; the potential adverse impact of legal proceedings; the impact of our frequently long and unpredictable sales cycle; our ability to identify suitable acquisition targets or otherwise successfully implement our growth strategy; the impact of a change in our pricing model; our ability to meet service level commitments under our customer contracts; the impact on our business and reputation if we are unable to provide high-quality customer support; our dependence on strategic relationships with third parties; the impact of adverse general and industry-specific economic and market conditions and reductions in IT and identity spending; the ability of our platform, solutions and solution packages to interoperate with our customers’ existing or future IT infrastructures; our dependence on adequate research and development resources and our ability to successfully complete acquisitions; our dependence on the integrity and scalability of our systems and infrastructures; our reliance on software and services from other parties; the impact of real or perceived errors, failures, vulnerabilities or bugs in our solutions; our ability to protect our proprietary rights; the impact on our business if we are subject to infringement claim or a claim that results in a significant damage award; the risks associated with our use of open source software in our solutions, solution packages and subscriptions; our reliance on SaaS vendors to operate certain functions of our business; the risks associated with indemnity provisions in our agreements; the risks associated with liability claims if we breach our contracts; the impact of the failure by our customers to pay us in accordance with the terms of their agreements; our ability to expand the sales of our solutions and solution packages to customers located outside of the United States; the risks associated with exposure to foreign currency fluctuations; the impact of Brexit; the impact of potentially adverse tax consequences associated with our international operations; the impact of changes in tax laws or regulations; the impact of the Tax Act; our ability to maintain our corporate culture; our ability to develop and maintain proper and effective internal control over financial reporting; our management team’s limited experience managing a public company; the risks associated with having operations and employees located in Israel; the risks associated with doing business with governmental entities; the impact of catastrophic events on our business; and the impact of the emerging Coronavirus outbreak. Given these factors, as well as other variables that may affect Ping Identity’s operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release and on the related teleconference call relate only to events as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

About Ping Identity

Ping Identity is the Intelligent Identity solution for the enterprise. We enable companies to achieve Zero Trust identity-defined security and more personalized, streamlined user experiences. The Ping Intelligent Identity™ platform provides customers, workforce, and partners with access to cloud, mobile, SaaS and on-premises applications across the hybrid enterprise. Over half of the Fortune 100 choose us for our identity expertise, open standards, and partnerships with companies including Microsoft and Amazon. We provide flexible identity solutions that accelerate digital business initiatives, delight customers, and secure the enterprise through multi-factor authentication, single sign-on, access management, intelligent API security, directory, and data governance capabilities. For more information, visit www.pingidentity.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

PING IDENTITY HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended December 31,

 

Year Ended December 31,

 

 

2019

 

2018

 

2019

 

2018

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Subscription

 

$

63,958

 

 

$

55,934

 

 

$

225,345

 

 

$

184,991

 

Professional services and other

 

 

4,277

 

 

 

3,559

 

 

 

17,553

 

 

 

16,571

 

Total revenue

 

 

68,235

 

 

 

59,493

 

 

 

242,898

 

 

 

201,562

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Subscription (exclusive of amortization shown below)(1)

 

 

7,216

 

 

 

4,727

 

 

 

24,044

 

 

 

17,512

 

Professional services and other (exclusive of amortization shown below)(1)

 

 

4,320

 

 

 

3,519

 

 

 

15,322

 

 

 

12,703

 

Amortization expense

 

 

4,357

 

 

 

3,783

 

 

 

16,338

 

 

 

14,396

 

Total cost of revenue

 

 

15,893

 

 

 

12,029

 

 

 

55,704

 

 

 

44,611

 

Gross profit

 

 

52,342

 

 

 

47,464

 

 

 

187,194

 

 

 

156,951

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing(1)

 

 

23,736

 

 

 

18,329

 

 

 

78,889

 

 

 

60,140

 

Research and development(1)

 

 

12,422

 

 

 

10,202

 

 

 

46,016

 

 

 

36,229

 

General and administrative(1)

 

 

11,561

 

 

 

8,865

 

 

 

38,293

 

 

 

28,355

 

Depreciation and amortization

 

 

4,305

 

 

 

4,009

 

 

 

16,639

 

 

 

16,341

 

Total operating expenses

 

 

52,024

 

 

 

41,405

 

 

 

179,837

 

 

 

141,065

 

Income from operations

 

 

318

 

 

 

6,059

 

 

 

7,357

 

 

 

15,886

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(847

)

 

 

(4,087

)

 

 

(12,914

)

 

 

(15,837

)

Loss on extinguishment of debt

 

 

(1,382

)

 

 

 

 

 

(4,532

)

 

 

(9,785

)

Other income (expense), net

 

 

1,130

 

 

 

708

 

 

 

363

 

 

 

(335

)

Total other income (expense)

 

 

(1,099

)

 

 

(3,379

)

 

 

(17,083

)

 

 

(25,957

)

Income (loss) before income taxes

 

 

(781

)

 

 

2,680

 

 

 

(9,726

)

 

 

(10,071

)

Benefit (provision) for income taxes

 

 

2,995

 

 

 

(4,749

)

 

 

8,222

 

 

 

(3,375

)

Net income (loss)

 

$

2,214

 

 

$

(2,069

)

 

$

(1,504

)

 

$

(13,446

)

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

0.03

 

 

 

(0.03

)

 

 

(0.02

)

 

 

(0.21

)

Diluted

 

 

0.03

 

 

 

(0.03

)

 

 

(0.02

)

 

 

(0.21

)

Weighted-average shares used in computing net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

79,205

 

 

 

65,001

 

 

 

68,906

 

 

 

65,002

 

Diluted

 

 

81,132

 

 

 

65,001

 

 

 

68,906

 

 

 

65,002

 

______________________________________

(1) Includes stock-based compensation as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended December 31,

 

Year Ended December 31,

 

 

2019

 

2018

 

2019

 

2018

Subscription cost of revenue

 

$

141

 

$

 

$

141

 

$

Professional services and other cost of revenue

 

 

80

 

 

 

 

80

 

 

Sales and marketing

 

 

714

 

 

191

 

 

1,407

 

 

726

Research and development

 

 

706

 

 

158

 

 

1,364

 

 

342

General and administrative

 

 

894

 

 

515

 

 

3,340

 

 

1,780

Total

 

$

2,535

 

$

864

 

$

6,332

 

$

2,848

 

 

 

 

 

 

 

PING IDENTITY HOLDING CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

 

2019

 

2018

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

67,637

 

 

$

83,499

 

Accounts receivable, net of allowances of $873 and $455

 

 

67,642

 

 

 

50,108

 

Contract assets, current

 

 

70,031

 

 

 

53,435

 

Deferred commissions, current

 

 

5,814

 

 

 

3,746

 

Prepaid expenses

 

 

12,768

 

 

 

8,508

 

Other current assets

 

 

3,774

 

 

 

2,136

 

Total current assets

 

 

227,666

 

 

 

201,432

 

Noncurrent assets:

 

 

 

 

 

 

Property and equipment, net

 

 

11,183

 

 

 

5,630

 

Goodwill

 

 

417,696

 

 

 

417,696

 

Intangible assets, net

 

 

187,868

 

 

 

207,043

 

Contract assets, noncurrent

 

 

15,979

 

 

 

14,033

 

Deferred commissions, noncurrent

 

 

7,856

 

 

 

7,287

 

Deferred income taxes, net

 

 

2,755

 

 

 

1,829

 

Other noncurrent assets

 

 

1,808

 

 

 

2,073

 

Total noncurrent assets

 

 

645,145

 

 

 

655,591

 

Total assets

 

$

872,811

 

 

$

857,023

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

1,118

 

 

$

1,766

 

Accrued expenses and other current liabilities

 

 

9,302

 

 

 

7,906

 

Accrued compensation

 

 

18,126

 

 

 

18,394

 

Deferred revenue, current

 

 

45,446

 

 

 

31,493

 

Current portion of long-term debt

 

 

 

 

 

2,500

 

Total current liabilities

 

 

73,992

 

 

 

62,059

 

Noncurrent liabilities:

 

 

 

 

 

 

Deferred revenue, noncurrent

 

 

2,061

 

 

 

3,874

 

Long-term debt, net of current portion

 

 

50,941

 

 

 

241,051

 

Deferred income taxes, net

 

 

30,571

 

 

 

39,112

 

Other liabilities, noncurrent

 

 

4,775

 

 

 

1,822

 

Total noncurrent liabilities

 

 

88,348

 

 

 

285,859

 

Total liabilities

 

 

162,340

 

 

 

347,918

 

Commitments and contingencies

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Preferred stock

 

 

 

 

 

 

Common stock

 

 

80

 

 

 

65

 

Additional paid-in capital

 

 

718,446

 

 

 

515,979

 

Accumulated other comprehensive income (loss)

 

 

(399

)

 

 

(787

)

Retained earnings (accumulated deficit)

 

 

(7,656

)

 

 

(6,152

)

Total stockholders’ equity

 

 

710,471

 

 

 

509,105

 

Total liabilities and stockholders’ equity

 

$

872,811

 

 

$

857,023

 

 

 

 

 

 

 

 

PING IDENTITY HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2019

 

2018

Cash flows from operating activities

 

 

 

 

 

 

Net loss

 

$

(1,504

)

 

$

(13,446

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

Loss on extinguishment of debt

 

 

4,532

 

 

 

9,785

 

Depreciation and amortization

 

 

32,977

 

 

 

30,737

 

Stock-based compensation expense

 

 

6,332

 

 

 

2,848

 

Amortization of deferred commissions

 

 

6,423

 

 

 

5,302

 

Amortization of deferred debt issuance costs

 

 

679

 

 

 

889

 

Deferred taxes

 

 

(9,379

)

 

 

3,073

 

Other

 

 

166

 

 

 

(440

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

(18,046

)

 

 

(1,465

)

Contract assets

 

 

(18,542

)

 

 

(6,806

)

Deferred commissions

 

 

(9,060

)

 

 

(9,981

)

Prepaid expenses and other current assets

 

 

(6,586

)

 

 

(5,770

)

Other assets

 

 

373

 

 

 

(763

)

Accounts payable

 

 

(624

)

 

 

298

 

Accrued compensation

 

 

(404

)

 

 

6,070

 

Accrued expenses and other

 

 

6,318

 

 

 

1,113

 

Deferred revenue

 

 

12,140

 

 

 

1,442

 

Net cash provided by operating activities

 

 

5,795

 

 

 

22,886

 

Cash flows from investing activities

 

 

 

 

 

 

Purchases of property and equipment and other

 

 

(8,696

)

 

 

(3,437

)

Capitalized software development costs

 

 

(10,460

)

 

 

(6,310

)

Acquisition of Elastic Beam, net of cash acquired of $0

 

 

 

 

 

(17,414

)

Other investing activities

 

 

(600

)

 

 

500

 

Net cash used in investing activities

 

 

(19,756

)

 

 

(26,661

)

Cash flows from financing activities

 

 

 

 

 

 

Payment of Elastic Beam contingent consideration

 

 

(1,136

)

 

 

 

Proceeds from initial public offering, net of underwriting discounts and commissions

 

 

200,531

 

 

 

 

Payment of deferred offering costs

 

 

(5,164

)

 

 

(493

)

Proceeds from stock option exercises

 

 

1,571

 

 

 

 

Repurchase of common stock

 

 

 

 

 

(76

)

Proceeds from long-term debt

 

 

52,177

 

 

 

250,000

 

Issuance costs of long-term debt

 

 

(1,249

)

 

 

(5,994

)

Payment of long-term debt

 

 

(248,750

)

 

 

(171,250

)

Payment of debt extinguishment costs

 

 

 

 

 

(5,085

)

Net cash provided by (used in) financing activities

 

 

(2,020

)

 

 

67,102

 

Effect of exchange rates on cash and cash equivalents and restricted cash

 

 

224

 

 

 

(653

)

Net increase (decrease) in cash and cash equivalents and restricted cash

 

 

(15,757

)

 

 

62,674

 

Cash and cash equivalents and restricted cash

 

 

 

 

 

 

Beginning of period

 

 

84,143

 

 

 

21,469

 

End of period

 

$

68,386

 

 

$

84,143

 

PING IDENTITY HOLDING CORP.

SUPPLEMENTAL FINANCIAL INFORMATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL DATA

(In thousands, except per share amounts)

(unaudited)

Three Months Ended December 31,

 

Year Ended December 31,

2019

 

2018

 

2019

 

2018

Gross profit

$

52,342

 

$

47,464

 

$

187,194

 

$

156,951

 

Amortization expense

4,357

 

3,783

 

16,338

 

14,396

 

Stock-based compensation

221

 

221

 

Non-GAAP Gross Profit

$

56,920

 

$

51,247

 

$

203,753

 

$

171,347

 

Non-GAAP Gross Profit Margin

83

%

86

%

84

%

85

%

 

Three Months Ended December 31,

 

Year Ended December 31,

2019

 

2018

 

2019

 

2018

Total operating expenses

$

52,024

 

$

41,405

 

$

179,837

 

$

141,065

 

Stock-based compensation

(2,314

)

(864

)

(6,111

)

(2,848

)

Acquisition related expenses

(522

)

(1,738

)

(3,321

)

(6,666

)

Amortization expense

(3,336

)

(3,448

)

(13,652

)

(14,290

)

Non-GAAP Operating Expenses

$

45,852

 

$

35,355

 

$

156,753

 

$

117,261

 

 

Three Months Ended December 31,

 

Year Ended December 31,

2019

 

2018

 

2019

 

2018

Net income (loss)

$

2,214

 

$

(2,069

)

$

(1,504

)

$

(13,446

)

Stock-based compensation

2,535

 

864

 

6,332

 

2,848

 

Acquisition related expenses

522

 

1,738

 

3,321

 

6,666

 

Amortization expense

7,693

 

7,231

 

29,990

 

28,686

 

Loss on extinguishment of debt

1,382

 

4,532

 

9,785

 

Provision for income taxes(1)

(3,155

)

(2,557

)

(11,486

)

(12,477

)

Non-GAAP Net Income

$

11,191

 

$

5,207

 

$

31,185

 

$

22,062

 

Net income (loss) per share:
Basic

$

0.03

 

$

(0.03

)

$

(0.02

)

$

(0.21

)

Diluted

$

0.03

 

$

(0.03

)

$

(0.02

)

$

(0.21

)

Weighted-average shares used in computing net income (loss) per share:
Basic

79,205

 

65,001

 

68,906

 

65,002

 

Diluted

81,132

 

65,001

 

68,906

 

65,002

 

Non-GAAP Net Income per Share
Basic

$

0.14

 

$

0.08

 

$

0.45

 

$

0.34

 

Diluted

$

0.14

 

$

0.08

 

$

0.44

 

$

0.34

 

Weighted-average shares used in computing Non-GAAP Net Income per Share:
Basic

79,205

 

65,001

 

68,906

 

65,002

 

Diluted

81,132

 

65,372

 

70,382

 

65,200

 

Contacts

Media Contact:
Kevin Sellers

press@pingidentity.com

Investor Relations Contact:
Hugo Doetsch

Tel: 303.396.6213

investor@pingidentity.com

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