Ping Identity (PING, $24.44) misses Q4 revenue estimates; issues lower-than-expected guidance

Ping Identity posted fourth-quarter revenue that fell short of analysts’ expectations. The identity management and access control software company's guidance midpoint is also below analyst forecasts.

The company’s revenue fell -7% year-over-year to $63.3 million, well below the Street consensus forecast of $68.2 million.

Annual recurring revenue rose +15% from the year-ago quarter to $259.1 million.

Adjusted earnings came in at 9 cents a share, in line with Wall Street estimates. Under GAAP, the company had a loss of -4 cents a share. 

For the quarter ending March, Ping expects revenue in the range of $61.5 million to $63.5 million, below the Street’s estimate of $67.4 million. The company expects annual recurring revenue of $263 million for the fourth quarter.