Ping Identity Holding Corp - PING STOCK NEWS

Ping Identity has launched an underwritten public offering of 10 million shares of common stock, with an additional 1.5 million shares available through a 30-day underwriter option. The offering is led by Morgan Stanley, but Ping Identity will not receive any proceeds from the sale. Instead, the company will incur associated costs. A registration statement concerning the offering has been filed with the SEC and is effective. Investors should note that this release contains forward-looking statements that are subject to risks and uncertainties.

Ping Identity appoints Shalini Sharma as the new Chief Legal Officer, effective January 10, 2022. Sharma, a legal professional with over 23 years of experience, holds expertise in corporate governance and compliance. She replaces Lauren Romer, who contributed significantly to the company over the past decade. Andre Durand, founder and CEO, expressed confidence in Sharma’s leadership as the company aims for global expansion.

Ping Identity reported a strong financial performance for Q3 2021, with Annual Recurring Revenue (ARR) reaching $289.6 million, a 19% increase year-over-year. Total revenue was $76.2 million, up 27%, with subscription revenue accounting for 94%. Notably, SaaS revenue increased by 56%. The company also acquired Singular Key to enhance its identity solutions and plans to introduce PingOne for Government in 2022. The Dollar-Based Net Retention Rate stood at 112%, reflecting solid customer retention. Future guidance forecasts total revenue between $291.0 million and $297.0 million for 2021.

Ping Identity has been recognized by Gartner as a Leader in the 2021 Magic Quadrant for Access Management for the fifth consecutive year. This accolade follows a strong year marked by the acquisition of Singular Key, a no-code orchestration leader, and the launch of PingOne Fraud to enhance its cloud platform's fraud detection capabilities. The acquisition will streamline the integration of identity services, allowing enterprises to create workflows without coding, thus improving user experience and business agility.

Ping Identity announced the integration of its PingOne solution pack on the Palo Alto Networks Cortex XSOAR Marketplace, enhancing security orchestration for enterprises. This collaboration allows clients to utilize automation playbooks that integrate with Ping Identity services, facilitating scalable, identity-centric zero-trust solutions. The PingOne Cloud Platform offers unified identity services, enabling improved security and user experience.

Ping Identity Holding Corp. (NYSE: PING) will release its financial results for Q3 FY 2021 on November 3, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern time to discuss the results. Investors can register for the call through the provided link for dial-in details. A replay will be accessible until November 10, 2021, at 11:59 p.m. Eastern time. Ping Identity specializes in identity solutions for enterprises, supporting secure access to applications across various platforms.

Ping Identity (NYSE: PING) enhances its PingOne Cloud Platform with a new fraud detection solution, PingOne Fraud, aimed at improving online security and user experience. This platform integrates real-time session analysis, behavioral biometrics, and device identification to combat automated and manual fraud tactics without compromising user privacy. Additionally, the company is enhancing API security through its PingOne API Intelligence service. These innovations position Ping Identity as a leader in enterprise security solutions amidst rising cyber threats.