Subscription revenue was $66.3 million, or 92% of total revenue. Revenue: Total revenue for the second quarter 2022 was $72.0 million.
Ping Identity defines ARR as the annualized value of all subscription contracts as of the end of the period. SaaS ARR exceeded $100 million, representing 30% of total ending ARR. Key Highlights for the Second Quarter 2022ĪRR: Ending ARR at June 30, 2022, was $341.0 million and represented a 22% increase compared with the second quarter 2021. "We believe this is a great outcome for all stakeholders as we accelerate our vision for securing the Internet through intelligent identity, while delivering extraordinary experiences for our end users." "We are also excited to announce our transaction with Thoma Bravo," added Durand. As we look to the second half of the year, we remain focused on maturing our cloud platform, supporting our channel partners, and winning in the customer use case. "As customers buy in to our hybrid cloud platform vision, we had a record number of customer wins that each exceeded half a million dollars in ARR. We were excited to see SaaS ARR exceed $100 million, as growth in the quarter was once again highlighted by expansion of our cloud solutions," said Andre Durand, Ping Identity's Chief Executive Officer. "Ongoing ARR growth acceleration and demand for our services led to a strong first half of the year. ("Ping Identity," or the "Company") (NYSE: PING), which delivers intelligent identity solutions for the enterprise, today announced its financial results for the three months ended June 30, 2022.
3, 2022 /PRNewswire/ - Ping Identity Holding Corp.
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Software as a service ("SaaS") ARR now exceeds 30% of total ARR, surpassing the $100 million threshold.Annual Recurring Revenue ("ARR") growth accelerated to 22% year-over-year, growing for the sixth straight quarter on a year-over-year basis to $341.0 million at June 30, 2022.Company Cancels Earnings Call in Light of Transaction with Thoma Bravo
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