DENVER — Ping Identity Holding Corp. (NYSE: PING) has released its first quarterly earnings since going public on Sept. 19.
The Denver-based information security company had annual recurring revenue of $206.7 million for the third quarter of 2019, a 23% increase compared to the same period the year prior, when the company had an ending ARR of $167.7 million. Ping’s ARR is the annualized value of all subscription contracts at the end of the period.
Revenue was $61.8 million, a 45% increase year over year. Subscription revenue grew 49% to $57.5 million.
Ping had a net loss of $595,000, compared to $5.6 million the year prior. Loss per share for Q3 2019 was 1 cent, compared to a 9 cent loss in Q3 2018.
When Ping went public in September, the company offered 12.5 million shares of its common stock at $15 per share. Its valuation was more than $1.1 billion.
The company said it was pleased with its third-quarter results.
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