Ping Identity Holding Corp.

2022 Q3 Form 10-Q Financial Statement

#000155837022011966 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $210.3M $213.3M
YoY Change 101.55% 287.79%
Cash & Equivalents $210.3M $213.3M
Short-Term Investments
Other Short-Term Assets $2.956M $2.055M
YoY Change 32.02% 11.68%
Inventory
Prepaid Expenses $19.94M $21.08M
Receivables $78.33M $74.27M
Other Receivables $0.00 $0.00
Total Short-Term Assets $369.9M $383.0M
YoY Change 44.49% 85.76%
LONG-TERM ASSETS
Property, Plant & Equipment $8.810M $8.955M
YoY Change 0.65% -1.96%
Goodwill $526.0M $527.9M
YoY Change 11.05% 19.62%
Intangibles $176.1M $183.3M
YoY Change -1.78% 4.44%
Long-Term Investments
YoY Change
Other Assets $8.836M $8.962M
YoY Change 200.14% 169.37%
Total Long-Term Assets $762.1M $770.1M
YoY Change 9.02% 15.64%
TOTAL ASSETS
Total Short-Term Assets $369.9M $383.0M
Total Long-Term Assets $762.1M $770.1M
Total Assets $1.132B $1.153B
YoY Change 18.52% 32.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.919M $9.665M
YoY Change 67.09% 1592.64%
Accrued Expenses $34.92M $30.99M
YoY Change 9.16% 23.96%
Deferred Revenue $81.16M $70.45M
YoY Change 86.87% 53.17%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.900M $1.900M
YoY Change
Total Short-Term Liabilities $122.9M $113.0M
YoY Change 56.8% 57.79%
LONG-TERM LIABILITIES
Long-Term Debt $290.2M $290.7M
YoY Change 143.66% 643.48%
Other Long-Term Liabilities $15.65M $17.38M
YoY Change 899.87% 1010.22%
Total Long-Term Liabilities $307.8M $308.8M
YoY Change 105.44% 314.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.9M $113.0M
Total Long-Term Liabilities $307.8M $308.8M
Total Liabilities $430.7M $421.8M
YoY Change 88.74% 188.7%
SHAREHOLDERS EQUITY
Retained Earnings -$151.9M -$104.0M
YoY Change 228.0% 194.5%
Common Stock $86.00K $84.00K
YoY Change 4.88% 3.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $701.4M $731.3M
YoY Change
Total Liabilities & Shareholders Equity $1.132B $1.153B
YoY Change 18.52% 32.22%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1

Facts In Submission

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210607000
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 28.8pt;">Use of Estimates</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 28.8pt;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, determining the fair values of assets acquired and liabilities assumed in business combinations, valuing stock-based compensation awards and assessing the probability of the awards meeting vesting conditions, recognizing revenue, establishing allowances for expected credit losses based on expected credit losses and the collectability of financial assets, determining useful lives for finite-lived assets, assessing the recoverability of long-lived assets, determining the value of right-of-use assets and lease liabilities, accounting for income taxes and related valuation allowances against deferred tax assets, determining the amortization period for deferred commissions and assessing the accounting treatment for commitments and contingencies. Management evaluates these estimates and </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 28.8pt;">assumptions on an ongoing basis and makes estimates based on historical experience and various other assumptions that are believed to be reasonable. Actual results may differ from these estimates due to risks and uncertainties.</p>
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CY2022Q2 us-gaap Capitalized Contract Cost Net
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CY2021Q2 us-gaap Capitalized Contract Cost Net
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CY2021Q2 us-gaap Capitalized Contract Cost Net Current
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CY2022Q2 us-gaap Capitalized Contract Cost Net Current
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CY2021Q2 us-gaap Capitalized Contract Cost Net Noncurrent
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CY2022Q2 us-gaap Capitalized Contract Cost Net
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CY2021Q2 us-gaap Capitalized Contract Cost Net
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CY2022Q2 us-gaap Capitalized Contract Cost Net
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CY2021Q2 us-gaap Capitalized Contract Cost Net
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CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q2 ping Business Acquisition Pro Forma Amortization Of Intangible Assets
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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31290000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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12229000
CY2022Q2 ping Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
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us-gaap Interest Expense Debt
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CY2021Q2 us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1500000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3000000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3000000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3000000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3000000
CY2022Q2 ping Long Term Debt Maturities Repayments Of Principal In Year Five And After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveAndAfterYearFive
285750000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
299250000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4000000.0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7300000
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
ping Number Of Votes Per Common Share
NumberOfVotesPerCommonShare
1
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13485000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17476000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21613000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34415000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1900000
CY2022Q2 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
300000
CY2021Q4 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
300000
CY2022Q2 us-gaap Purchase Obligation
PurchaseObligation
175600000
CY2022Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1100000
CY2021Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1000000.0
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
2400000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-47848000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-10979000
us-gaap Net Income Loss
NetIncomeLoss
-68106000
us-gaap Net Income Loss
NetIncomeLoss
-26913000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85295000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82025000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84562000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81684000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.56
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8862000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5730000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8862000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5730000

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