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PagerDuty Announces Second Quarter Fiscal 2025 Financial Results

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PagerDuty (NYSE:PD) reported Q2 fiscal 2025 financial results, showing revenue growth of 7.7% year-over-year to $115.9 million. The company's ending ARR grew 10% to $474 million. Despite a GAAP loss from operations of $16 million, PagerDuty achieved a non-GAAP operating income of $20.1 million with a 17.3% margin. Key highlights include:

- Customers with ARR over $100K grew 6% to 820
- Dollar-based net retention rate was 106%
- Free cash flow of $33.3 million
- Cash, equivalents, and investments totaled $599.3 million

PagerDuty updated its fiscal 2025 guidance, now expecting total revenue of $463.0-$467.0 million, representing 7-8% growth year-over-year, and non-GAAP net income per diluted share of $0.67-$0.72.

PagerDuty (NYSE:PD) ha riportato i risultati finanziari del secondo trimestre fiscale 2025, evidenziando una crescita del fatturato del 7,7% rispetto all'anno precedente, raggiungendo 115,9 milioni di dollari. L'ARR finale dell'azienda è cresciuto del 10% a 474 milioni di dollari. Nonostante una perdita operativa secondo i principi contabili GAAP di 16 milioni di dollari, PagerDuty ha raggiunto un reddito operativo non-GAAP di 20,1 milioni di dollari, con un margine del 17,3%. I punti salienti includono:

- I clienti con ARR superiore a 100.000 dollari sono aumentati del 6%, raggiungendo 820
- Il tasso di ritenzione netto basato sul dollaro è stato del 106%
- Flusso di cassa libero di 33,3 milioni di dollari
- Liquidità, equivalenti e investimenti hanno totalizzato 599,3 milioni di dollari

PagerDuty ha aggiornato la propria guida fiscale per il 2025, ora prevedendo un fatturato totale di 463,0-467,0 milioni di dollari, con una crescita del 7-8% rispetto all'anno precedente, e un reddito netto non-GAAP per azione diluita di 0,67-0,72 dollari.

PagerDuty (NYSE:PD) informó sobre sus resultados financieros del segundo trimestre fiscal 2025, mostrando un crecimiento de ingresos del 7.7% interanual, alcanzando 115.9 millones de dólares. El ARR final de la compañía creció un 10% hasta 474 millones de dólares. A pesar de una pérdida operativa GAAP de 16 millones de dólares, PagerDuty logró un ingreso operativo no-GAAP de 20.1 millones de dólares con un margen del 17.3%. Los aspectos destacados incluyen:

- Los clientes con ARR por encima de 100K dólares crecieron un 6% alcanzando 820
- La tasa de retención neta de ingresos fue del 106%
- Flujo de caja libre de 33.3 millones de dólares
- Efectivo, equivalentes e inversiones totalizaron 599.3 millones de dólares

PagerDuty actualizó su guía fiscal para 2025, ahora esperando ingresos totales de 463.0 a 467.0 millones de dólares, lo que representa un crecimiento del 7-8% interanual, y un ingreso neto no-GAAP por acción diluida de 0.67 a 0.72 dólares.

PagerDuty (NYSE:PD)는 2025 회계연도 2분기 재무 결과를 보고하며, 전년 대비 7.7%의 매출 성장을 보여 1억 1,590만 달러에 달했습니다. 회사의 연간 반복 수익(ARR)은 10% 증가하여 4억 7,400만 달러에 도달했습니다. GAAP 기준 운영 손실이 1,600만 달러임에도 불구하고, PagerDuty는 비-GAAP 운영 수익 2,010만 달러를 달성하며 17.3%의 마진을 기록했습니다. 주요 하이라이트는 다음과 같습니다:

- ARR이 10만 달러를 초과하는 고객 수가 6% 증가하여 820명에 도달
- 달러 기준 순 유지율은 106%
- 자유 현금 흐름은 3,330만 달러
- 현금, 현금성 자산 및 투자 합계는 5억 9,930만 달러

PagerDuty는 2025 회계연도 가이던스를 업데이트하여 총 매출을 4억 6,300만 달러에서 4억 6,700만 달러로 예상하며, 이는 전년 대비 7-8% 성장에 해당하고, 희석 주당 비-GAAP 순이익은 0.67-0.72달러로 전망하고 있습니다.

PagerDuty (NYSE:PD) a annoncé ses résultats financiers du deuxième trimestre de l'exercice 2025, montrant une croissance des revenus de 7,7 % par rapport à l'année précédente, atteignant 115,9 millions de dollars. L'ARR final de l'entreprise a augmenté de 10 % pour atteindre 474 millions de dollars. Malgré une perte d'exploitation GAAP de 16 millions de dollars, PagerDuty a réalisé un revenu d'exploitation non-GAAP de 20,1 millions de dollars avec une marge de 17,3 %. Les points clés incluent :

- Le nombre de clients avec un ARR supérieur à 100 000 dollars a augmenté de 6 % pour atteindre 820
- Le taux de rétention nette basé sur le dollar était de 106 %
- Flux de trésorerie disponible de 33,3 millions de dollars
- La trésorerie, les équivalents et les investissements totalisent 599,3 millions de dollars

PagerDuty a mis à jour ses prévisions pour l'exercice 2025, maintenant qu'elle s'attend à un chiffre d'affaires total de 463,0 à 467,0 millions de dollars, représentant une croissance de 7 à 8 % par rapport à l'année précédente, et un revenu net non-GAAP par action diluée de 0,67 à 0,72 dollar.

PagerDuty (NYSE:PD) hat die Finanzergebnisse für das zweite Quartal des Geschäftsjahres 2025 veröffentlicht, die ein Umsatzwachstum von 7,7% im Vergleich zum Vorjahr auf 115,9 Millionen US-Dollar zeigen. Der jahresgültige ARR des Unternehmens wuchs um 10% auf 474 Millionen US-Dollar. Trotz eines GAAP-Betriebsverlusts von 16 Millionen US-Dollar erzielte PagerDuty einen nicht-GAAP-Betriebsgewinn von 20,1 Millionen US-Dollar bei einer Marge von 17,3%. Wichtige Highlights sind:

- Kunden mit einem ARR von über 100.000 US-Dollar wuchsen um 6% auf 820
- Die dollarbasierte Netto-Retention-Rate betrug 106%
- Freier Cashflow in Höhe von 33,3 Millionen US-Dollar
- Zahlungsmittel, Äquivalente und Investitionen beliefen sich insgesamt auf 599,3 Millionen US-Dollar

PagerDuty hat seine Prognose für das Geschäftsjahr 2025 aktualisiert und erwartet nun einen Gesamtumsatz von 463,0 bis 467,0 Millionen US-Dollar, was einem Wachstum von 7-8% im Vergleich zum Vorjahr entspricht, und einen nicht-GAAP Nettoertrag pro verwässerter Aktie von 0,67 bis 0,72 US-Dollar.

Positive
  • Revenue grew 7.7% year-over-year to $115.9 million
  • Ending ARR increased 10% year-over-year to $474 million
  • Non-GAAP operating income of $20.1 million, with a 17.3% margin
  • Free cash flow of $33.3 million
  • Customers with ARR over $100K grew 6% to 820
  • Number of customers with ARR greater than $500K grew over 20%
  • Raised non-GAAP net income per diluted share guidance for fiscal 2025
Negative
  • GAAP loss from operations of $16 million
  • Dollar-based net retention rate decreased to 106% from 114% a year ago
  • Total paid customers decreased to 15,044 from 15,146 a year ago
  • Lowered total revenue guidance for fiscal 2025

Insights

PagerDuty's Q2 FY2025 results present a mixed picture. While revenue grew 7.7% YoY to $115.9 million, it's a slowdown from previous quarters. The ARR growth of 10% to $474 million is positive, but the dollar-based net retention rate dropped to 106% from 114% a year ago, indicating potential challenges in upselling.

The company achieved non-GAAP profitability for the eighth consecutive quarter, with a non-GAAP operating margin of 17.3%, significantly above guidance. This, coupled with strong free cash flow of $33.3 million, demonstrates improved operational efficiency. However, the lowered full-year revenue guidance suggests headwinds in the near term, which investors should monitor closely.

PagerDuty's focus on AI-powered solutions and incident management is timely, given the 43% increase in customer-facing incidents reported in their study. The expansion of high-value customers (ARR > $500,000) by over 20% indicates traction in enterprise markets. However, the slight decrease in total paid customers (15,044 vs 15,146 YoY) is concerning and may reflect challenges in the SMB segment or competitive pressures.

The company's recognition in Gartner and Forrester reports bolsters its market position. The integration with Snowflake Trail and the launch of PagerDuty Advance show a commitment to innovation. These initiatives could be important for maintaining competitiveness and driving future growth, especially as organizations prioritize operational resilience and digital transformation.

Second quarter revenue increased 8% year over year to $116 million

Ending ARR grew 10% year over year to $474 million

Second quarter loss from operations of $16 million, non-GAAP operating income of $20 million

SAN FRANCISCO--(BUSINESS WIRE)-- PagerDuty, Inc. (NYSE:PD), a leader in digital operations management, today announced financial results for the second quarter of fiscal 2025, ended July 31, 2024.

“PagerDuty delivered a solid second quarter with revenue growth within our guidance range, a non-GAAP operating margin four points above the range, and our eighth consecutive quarter of non-GAAP profitability,” said Jennifer Tejada, Chairperson and CEO, PagerDuty. “We remain confident in ARR growth acceleration as global outages reinforce that incident management has become a CEO priority.”

Second Quarter Fiscal 2025 Financial Highlights

  • Revenue was $115.9 million, an increase of 7.7% year over year.
  • Loss from operations was $16.0 million; operating margin was negative 13.8%.
  • Non-GAAP operating income was $20.1 million; non-GAAP operating margin was 17.3%.
  • Net loss per share attributable to PagerDuty, Inc. common stockholders was $0.14.
  • Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders was $0.21.
  • Net cash provided by operating activities was $35.8 million, with free cash flow of $33.3 million.
  • Cash, cash equivalents, and investments were $599.3 million as of July 31, 2024.

The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures and reconciliations between GAAP and non-GAAP financial information.

Second Quarter and Recent Highlights

  • Customers with annual recurring revenue over $100 thousand grew 6% to 820 as of July 31, 2024, compared to 773 a year ago.
  • Dollar-based net retention rate was 106% as of July 31, 2024, compared to 114% a year ago.
  • Free and paid customers totaled more than 29,000 as of July 31, 2024, representing approximately 12% growth year over year.
  • Total paid customers were 15,044 as of July 31, 2024, compared to 15,146 a year ago.
  • Remaining performance obligations were $403 million as of July 31, 2024. Of this amount, the Company expects to recognize revenue of approximately $280 million, or 70%, over the next 12 months with the balance to be recognized as revenue thereafter.(1)
  • The number of customers with ARR greater than $500 thousand grew over 20%.
  • Lands and expands include: Aon, Commonwealth Bank of Australia, Coupa, FirstRand Bank, Moderna, Snowflake, Western Digital Corp and Vodafone.
  • Expanded generative AI solutions with PagerDuty Advance to mitigate risk of operational outages including AI-powered capabilities for enterprises to accelerate strategic roadmap initiatives, build more resilient operations and drive digital transformation initiatives.
  • Highlighted in nine Gartner Hype Cycle Reports and Forrester’s Infrastructure Automation Platforms Landscape report.
  • Announced integration with Snowflake Trail to improve observability workflows.
  • Released a study that reveals customer-facing incidents increased by 43% during the past year; each incident costs nearly $800 thousand addressing the imperative for organizations to invest in automation in order to mitigate the risk and shorten the time of incident.
  • Engaged with hundreds of customers and prospects during PagerDuty on Tour in New York, San Francisco, London, Sydney and Tokyo to learn about the PagerDuty Operations Cloud.
  • Launched Learning from Incidents Workshop, a series of best practice workshops to help teach organizations how to outmaneuver the complexity of digital operations and establish a more proactive approach for handling and learning from incidents.
  • Showcased PagerDuty customer - Vodafone in Executive Spotlight series.
  • Recognized as a great place to work including: FORTUNE Best Workplace in the Bay Area 2024, 2024 Fortune Best Workplace for Millennials (US), San Francisco Business Times - Fastest-Growing Middle Market Companies in the Greater Bay Area, Inspiring Workplace - North America, Inspiring Workplace - Australasia, Inspiring Workplace - LatAm and 2024 ParityLIST.

(1)Beginning in the first quarter of fiscal 2025, the Company began to include contracts with an original term of less than 12 months in this disclosure which comprised $128 million of remaining non-cancelable performance obligations as of July 31, 2024.

Financial Outlook

For the third quarter of fiscal 2025, PagerDuty currently expects:

  • Total revenue of $115.5 million - $117.5 million, representing a growth rate of 6% - 8% year over year.
  • Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.16 - $0.17 assuming approximately 96 million diluted shares and a non-GAAP tax rate of 23%.

For the full fiscal year 2025, PagerDuty currently expects:

  • Total revenue of $463.0 million - $467.0 million (down from $471.0 million - $477.0 million), representing a growth rate of 7% - 8% year over year.
  • Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.67 - $0.72 (up from $0.66 - $0.71) assuming approximately 96 million diluted shares and a non-GAAP tax rate of 23%.

These statements are forward-looking and actual results may differ materially. Please refer to the section titled "Forward-Looking Statements" below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

PagerDuty has not reconciled forward-looking net loss per share attributable to PagerDuty, Inc. common stock holders to forward-looking non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders because certain items are out of PagerDuty's control or cannot be reasonably predicted. Accordingly, such reconciliation is not available without unreasonable effort.

Conference Call Information

PagerDuty will host a conference call and live webcast for analysts and investors at 2:00 p.m. Pacific Time on September 3, 2024. This news release with the financial results will be accessible from PagerDuty’s website at investor.pagerduty.com prior to the conference call. A live webcast of the conference call will be accessible from the PagerDuty investor relations website at investor.pagerduty.com.

Supplemental Financial and Other Information

Supplemental financial and other information can be accessed through PagerDuty’s investor relations website at investor.pagerduty.com. PagerDuty uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors monitor PagerDuty’s investor relations website in addition to following PagerDuty’s press releases, SEC filings, social media, including PagerDuty’s LinkedIn account (https://www.linkedin.com/company/482819), X (formerly Twitter) account @pagerduty, the X account @jenntejada and Facebook page (facebook.com/pagerduty), and public conference calls and webcasts.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our future financial performance and outlook, and market positioning. Words such as “expect,” “extend,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “accelerate,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks and other factors detailed in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (SEC) on March 18, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024 and other filings and reports that we may file from time to time with the SEC. In particular, the following risks and uncertainties, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the effect of unfavorable conditions in our industry or the global economy, or reductions in information technology spending on our business and results of operations; our ability to achieve and maintain future profitability; our ability to attract new customers and retain and sell additional functionality and services to our existing customers; our ability to sustain and manage our growth; our dependence on revenue from a single product; our ability to compete effectively in an increasingly competitive market; and general global market, political, economic, and business conditions.

Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

About PagerDuty Inc.

PagerDuty, Inc. (NYSE:PD) is a global leader in digital operations management, enabling customers to achieve operational efficiency at scale with the PagerDuty Operations Cloud. The PagerDuty Operations Cloud combines AIOps, Automation, Customer Service Operations and Incident Management with a powerful generative AI assistant to create a flexible, resilient and scalable platform to increase innovation velocity, grow revenue, reduce cost, and mitigate the risk of operational failure. Half of the Fortune 500 and nearly 70% of the Fortune 100 rely on PagerDuty as essential infrastructure for the modern enterprise. To learn more and try PagerDuty for free, visit www.pagerduty.com.

The PagerDuty Operations Cloud

The PagerDuty Operations Cloud is the platform for mission-critical, time-critical operations work in the modern enterprise. Through the power of AI and automation, it detects and diagnoses disruptive events, mobilizes the right team members to respond, and streamlines infrastructure and workflows across your digital operations. The PagerDuty Operations Cloud is essential infrastructure for revolutionizing digital operations to compete and win as a modern digital business.

PAGERDUTY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Revenue

$

115,935

 

 

$

107,616

 

 

$

227,107

 

 

$

210,862

 

Cost of revenue(1)

 

20,080

 

 

 

19,833

 

 

 

39,423

 

 

 

37,769

 

Gross profit

 

95,855

 

 

 

87,783

 

 

 

187,684

 

 

 

173,093

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

Research and development(1)

 

35,088

 

 

 

36,441

 

 

 

72,611

 

 

 

69,949

 

Sales and marketing(1)

 

50,966

 

 

 

49,724

 

 

 

99,465

 

 

 

93,525

 

General and administrative(1)

 

25,828

 

 

 

27,791

 

 

 

53,368

 

 

 

51,592

 

Total operating expenses

 

111,882

 

 

 

113,956

 

 

 

225,444

 

 

 

215,066

 

Loss from operations

 

(16,027

)

 

 

(26,173

)

 

 

(37,760

)

 

 

(41,973

)

 

 

 

 

 

 

 

 

Interest income(2)

 

7,516

 

 

 

5,011

 

 

 

14,496

 

 

 

9,214

 

Interest expense

 

(2,363

)

 

 

(1,396

)

 

 

(4,511

)

 

 

(2,730

)

Other income (expense), net(2)

 

117

 

 

 

(114

)

 

 

(134

)

 

 

(127

)

Loss before (provision for) benefit from income taxes

 

(10,757

)

 

 

(22,672

)

 

 

(27,909

)

 

 

(35,616

)

(Provision for) benefit from income taxes

 

(427

)

 

 

50

 

 

 

(620

)

 

 

156

 

Net loss

$

(11,184

)

 

$

(22,622

)

 

$

(28,529

)

 

$

(35,460

)

Net loss attributable to redeemable non-controlling interest

 

(272

)

 

 

(569

)

 

 

(478

)

 

 

(1,189

)

Net loss attributable to PagerDuty, Inc.

$

(10,912

)

 

$

(22,053

)

 

$

(28,051

)

 

$

(34,271

)

Less: Adjustment attributable to redeemable non-controlling interest

 

2,330

 

 

 

1,729

 

 

 

9,247

 

 

 

1,729

 

Net loss attributable to PagerDuty, Inc. common stockholders

$

(13,242

)

 

$

(23,782

)

 

$

(37,298

)

 

$

(36,000

)

 

 

 

 

 

 

 

 

Weighted average shares used in calculating net loss per share, basic and diluted

 

93,289

 

 

 

92,542

 

 

 

93,082

 

 

 

92,041

 

Net loss per share, basic and diluted, attributable to PagerDuty, Inc. common stockholders

$

(0.14

)

 

$

(0.26

)

 

$

(0.40

)

 

$

(0.39

)

(1) Includes stock-based compensation expense as follows:

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Cost of revenue

$

1,508

 

$

2,164

 

$

3,264

 

$

4,040

Research and development

 

11,842

 

 

 

12,773

 

 

 

23,064

 

 

 

22,874

 

Sales and marketing

 

8,116

 

 

 

8,317

 

 

 

16,063

 

 

 

14,268

 

General and administrative

 

10,900

 

 

 

12,283

 

 

 

22,915

 

 

 

21,900

 

Total

$

32,366

 

 

$

35,537

 

 

$

65,306

 

 

$

63,082

 

 

(2) Includes a reclassification for the three and six months ended July 31, 2023 for a portion of other income to the interest income line item to conform to current period presentation.

PAGERDUTY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

 

 

July 31, 2024

 

January 31, 2024

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

385,673

 

 

$

363,011

 

Investments

 

213,640

 

 

 

208,178

 

Accounts receivable, net of allowance for credit losses of $948 and $1,382 as of July 31, 2024 and January 31, 2024, respectively

 

66,804

 

 

 

100,413

 

Deferred contract costs, current

 

19,676

 

 

 

19,502

 

Prepaid expenses and other current assets

 

14,683

 

 

 

12,094

 

Total current assets

 

700,476

 

 

 

703,198

 

Property and equipment, net

 

18,239

 

 

 

17,632

 

Deferred contract costs, non-current

 

24,373

 

 

 

25,118

 

Lease right-of-use assets

 

3,339

 

 

 

3,789

 

Goodwill

 

137,401

 

 

 

137,401

 

Intangible assets, net

 

26,530

 

 

 

32,616

 

Other assets

 

5,648

 

 

 

5,552

 

Total assets

$

916,006

 

 

$

925,306

 

 

 

 

 

Liabilities, redeemable non-controlling interest, and stockholders’ equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

6,940

 

 

$

6,242

 

Accrued expenses and other current liabilities

 

16,104

 

 

 

15,472

 

Accrued compensation

 

29,547

 

 

 

30,239

 

Deferred revenue, current

 

214,494

 

 

 

223,522

 

Lease liabilities, current

 

4,603

 

 

 

6,180

 

Convertible senior notes, net, current

 

57,241

 

 

 

 

Total current liabilities

 

328,929

 

 

 

281,655

 

Convertible senior notes, net, non-current

 

392,098

 

 

 

448,030

 

Deferred revenue, non-current

 

3,395

 

 

 

4,639

 

Lease liabilities, non-current

 

6,622

 

 

 

6,809

 

Other liabilities

 

4,216

 

 

 

5,280

 

Total liabilities

 

735,260

 

 

 

746,413

 

 

 

 

 

Redeemable non-controlling interest

 

16,062

 

 

 

7,293

 

 

 

 

 

Stockholders' equity

 

 

 

Common stock

 

 

 

 

 

Additional paid-in capital

 

747,599

 

 

 

774,768

 

Accumulated other comprehensive loss

 

(730

)

 

 

(733

)

Accumulated deficit

 

(580,486

)

 

 

(552,435

)

Treasury stock

 

(1,699

)

 

 

(50,000

)

Total stockholders’ equity

 

164,684

 

 

 

171,600

 

Total liabilities, redeemable non-controlling interest, and stockholders' equity

$

916,006

 

 

$

925,306

 

PAGERDUTY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

Net loss attributable to PagerDuty, Inc. common stockholders

$

(13,242

)

 

$

(23,782

)

$

(37,298

)

 

$

(36,000

)

Net loss and adjustment attributable to redeemable non-controlling interest

 

2,058

 

 

 

1,160

 

 

8,769

 

 

 

540

 

Net loss

 

(11,184

)

 

 

(22,622

)

 

(28,529

)

 

 

(35,460

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

5,163

 

 

 

5,266

 

 

10,455

 

 

 

9,991

 

Amortization of deferred contract costs

 

5,427

 

 

 

5,173

 

 

10,706

 

 

 

10,163

 

Amortization of debt issuance costs

 

671

 

 

 

478

 

 

1,279

 

 

 

933

 

Stock-based compensation

 

32,366

 

 

 

35,537

 

 

65,306

 

 

 

63,082

 

Non-cash lease expense

 

789

 

 

 

1,143

 

 

1,635

 

 

 

2,319

 

Other

 

(1,163

)

 

 

950

 

 

(2,465

)

 

 

98

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

10,441

 

 

 

(5,599

)

 

33,157

 

 

 

24,404

 

Deferred contract costs

 

(5,325

)

 

 

(3,393

)

 

(10,130

)

 

 

(6,765

)

Prepaid expenses and other assets

 

1,951

 

 

 

822

 

 

(2,862

)

 

 

(1,385

)

Accounts payable

 

511

 

 

 

961

 

 

779

 

 

 

(245

)

Accrued expenses and other liabilities

 

2,606

 

 

 

229

 

 

(829

)

 

 

(15

)

Accrued compensation

 

846

 

 

 

(1,506

)

 

(821

)

 

 

(18,792

)

Deferred revenue

 

(5,893

)

 

 

(5,182

)

 

(10,316

)

 

 

(12,428

)

Lease liabilities

 

(1,437

)

 

 

(1,507

)

 

(2,949

)

 

 

(2,998

)

Net cash provided by operating activities

 

35,769

 

 

 

10,750

 

 

64,416

 

 

 

32,902

 

Cash flows from investing activities:

 

 

 

 

 

 

Purchases of property and equipment

 

(637

)

 

 

(713

)

 

(1,094

)

 

 

(948

)

Capitalized internal-use software costs

 

(1,849

)

 

 

(1,299

)

 

(2,941

)

 

 

(2,371

)

Purchases of available-for-sale investments

 

(48,335

)

 

 

(68,972

)

 

(98,400

)

 

 

(108,057

)

Proceeds from maturities of available-for-sale investments

 

47,021

 

 

 

58,609

 

 

93,577

 

 

 

107,564

 

Proceeds from sales of available-for-sale investments

 

 

 

 

 

 

2,237

 

 

 

 

Purchases of non-marketable equity investments

 

 

 

 

(200

)

 

 

 

 

(200

)

Net cash used in investing activities

 

(3,800

)

 

 

(12,575

)

 

(6,621

)

 

 

(4,012

)

Cash flows from financing activities:

 

 

 

 

 

 

Investment from redeemable non-controlling interest holder

 

 

 

 

1,781

 

 

 

 

 

1,781

 

Cash paid for debt issuance costs

 

(403

)

 

 

 

 

(403

)

 

 

 

Repurchases of common stock

 

(27,213

)

 

 

 

 

(27,213

)

 

 

 

Proceeds from employee stock purchase plan

 

5,735

 

 

 

6,292

 

 

5,735

 

 

 

6,292

 

Proceeds from issuance of common stock upon exercise of stock options

 

513

 

 

 

2,666

 

 

804

 

 

 

7,417

 

Employee payroll taxes paid related to net share settlement of restricted stock units

 

(7,576

)

 

 

(7,166

)

 

(14,128

)

 

 

(15,986

)

Net cash used in financing activities

 

(28,944

)

 

 

3,573

 

 

(35,205

)

 

 

(496

)

Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash

 

92

 

 

 

(214

)

 

(23

)

 

 

(274

)

Net change in cash, cash equivalents, and restricted cash

 

3,117

 

 

 

1,534

 

 

22,567

 

 

 

28,120

 

Cash, cash equivalents, and restricted cash at beginning of period

 

386,117

 

 

 

300,605

 

 

366,667

 

 

 

274,019

 

Cash, cash equivalents, and restricted cash at end of period

$

389,234

 

 

$

302,139

 

$

389,234

 

 

$

302,139

 

Non-GAAP Financial Measures

This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to PagerDuty, Inc. common stockholders, non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders, free cash flow, and free cash flow margin.

PagerDuty believes that non-GAAP financial measures, when taken collectively, may be helpful to investors because they provide consistency and comparability with past financial performance and can assist in comparisons with other companies, some of which use similar non-GAAP financial measures to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies.

The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in PagerDuty’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by PagerDuty’s management about which expenses and income are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below for each historical non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP.

Specifically, PagerDuty excludes the following from its historical and prospective non-GAAP financial measures, as applicable:

Stock-based compensation: PagerDuty utilizes stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period.

Employer taxes related to employee stock transactions: PagerDuty views the amount of employer taxes related to its employee stock transactions as an expense that is dependent on its stock price, employee exercise and other award disposition activity, and other factors that are beyond PagerDuty’s control. As a result, employer taxes related to employee stock transactions vary for reasons that are generally unrelated to financial and operational performance in any particular period.

Amortization of acquired intangible assets: PagerDuty views amortization of acquired intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period.

Acquisition-related expenses: PagerDuty views acquisition-related expenses, such as transaction costs, acquisition-related retention payments, and acquisition-related asset impairment, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses.

Amortization of debt issuance costs: The imputed interest rates of the Company's convertible senior notes (the "2025 Notes" and the "2028 Notes" or, collectively, the "Notes") was approximately 1.91% for the 2025 Notes and 2.13% for the 2028 Notes. This is a result of the debt issuance costs, which reduce the carrying value of the convertible debt instruments. The debt issuance costs are amortized as interest expense. The expense for the amortization of the debt issuance costs is a non-cash item, and we believe the exclusion of this interest expense will provide for a more useful comparison of our operational performance in different periods.

Restructuring costs: PagerDuty views restructuring costs, such as employee severance-related costs and real estate impairment costs, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses.

Gains (or losses) on partial extinguishment of convertible senior notes: PagerDuty views gains (or losses) on partial extinguishment of debt as events that are not necessarily reflective of operational performance during a period. PagerDuty believes that the consideration of measures that exclude such gain (or loss) impact can assist in the comparison of operational performance in different periods which may or may not include such gains (or losses).

Adjustment attributable to redeemable non-controlling interest: PagerDuty adjusts the value of redeemable non-controlling interest of its joint venture PagerDuty K.K. according to the operating agreement. PagerDuty believes this adjustment is not reflective of operational performance during a period and exclusion of such adjustments can assist in comparison of operational performance in different periods.

Income tax effects and adjustments: Based on PagerDuty's financial outlook for fiscal 2025, PagerDuty is utilizing a projected non-GAAP tax rate of 23% in order to provide better consistency across the interim reporting periods by eliminating the impact of non-recurring and period specific items, which can vary in size and frequency. PagerDuty's estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that PagerDuty believes materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, material changes in the geographic mix of revenue and expenses and other significant events.

Non-GAAP gross profit and non-GAAP gross margin

We define non-GAAP gross profit as gross profit excluding the following expenses typically included in cost of revenue: stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, and restructuring costs. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue.

Non-GAAP operating expenses

We define non-GAAP operating expenses as operating expenses excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period.

Non-GAAP operating income (loss) and non-GAAP operating margin

We define non-GAAP operating income as loss from operations excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period. We define non-GAAP operating margin as non-GAAP operating income as a percentage of revenue.

Non-GAAP net income attributable to PagerDuty, Inc. common stockholders

We define non-GAAP net income attributable to PagerDuty, Inc. common stockholders as net loss attributable to PagerDuty, Inc. common stockholders excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of debt issuance costs, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments and asset impairment, restructuring costs, adjustment attributable to redeemable non-controlling interest, and income tax adjustments, which are not necessarily reflective of operational performance during a given period.

Non-GAAP net income (loss) per share, basic and diluted

We define non-GAAP net income (loss) per share, basic as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average shares outstanding at the end of the reporting period. We define non-GAAP net income (loss) per share, diluted as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average diluted shares outstanding at the end of the reporting period.

Free cash flow and free cash flow margin

We define free cash flow as net cash provided by operating activities, less cash used for purchases of property and equipment and capitalization of internal-use software costs. We define free cash flow margin as free cash flow as a percentage of revenue. In addition to the reasons stated above, we believe that free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment in order to enhance the strength of our balance sheet and further invest in our business and potential strategic initiatives. A limitation of the utility of free cash flow as a measure of our liquidity is that it does not represent the total increase or decrease in our cash balance for the period. We use free cash flow in conjunction with traditional U.S. GAAP measures as part of our overall assessment of our liquidity, including the preparation of our annual operating budget and quarterly forecasts and to evaluate the effectiveness of our business strategies. There are a number of limitations related to the use of free cash flow as compared to net cash provided by operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

PagerDuty encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate PagerDuty’s business.

Please see the reconciliation tables at the end of this release for the reconciliation of non-GAAP financial measures to their most-comparable GAAP financial measures.

PAGERDUTY, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(in thousands, except percentages and per share data)

(unaudited)

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Non-GAAP gross profit and non-GAAP gross margin

 

 

 

 

 

 

 

Gross profit

$

95,855

 

 

$

87,783

 

 

$

187,684

 

 

$

173,093

 

Add:

 

 

 

 

 

 

 

Stock-based compensation

 

1,508

 

 

 

2,164

 

 

 

3,264

 

 

 

4,040

 

Employer taxes related to employee stock transactions

 

39

 

 

 

45

 

 

 

83

 

 

 

117

 

Amortization of acquired intangible assets

 

2,268

 

 

 

2,086

 

 

 

4,675

 

 

 

4,173

 

Restructuring costs

 

(2

)

 

 

 

 

 

(2

)

 

 

137

 

Non-GAAP gross profit

$

99,668

 

 

$

92,078

 

 

$

195,704

 

 

$

181,560

 

 

 

 

 

 

 

 

 

Revenue

$

115,935

 

 

$

107,616

 

 

$

227,107

 

 

$

210,862

 

Gross Margin

 

82.7

%

 

 

81.6

%

 

 

82.6

%

 

 

82.1

%

Non-GAAP gross margin

 

86.0

%

 

 

85.6

%

 

 

86.2

%

 

 

86.1

%

 

 

 

 

 

 

 

 

Non-GAAP operating expenses

 

 

 

 

 

 

 

Research and development

$

35,088

 

 

$

36,441

 

 

$

72,611

 

 

$

69,949

 

Less:

 

 

 

 

 

 

 

Stock-based compensation

 

11,842

 

 

 

12,773

 

 

 

23,064

 

 

 

22,874

 

Employer taxes related to employee stock transactions

 

236

 

 

 

203

 

 

 

518

 

 

 

720

 

Acquisition-related expenses

 

228

 

 

 

162

 

 

 

523

 

 

 

323

 

Amortization of acquired intangible assets

 

29

 

 

 

87

 

 

 

116

 

 

 

174

 

Restructuring costs

 

(2

)

 

 

(2

)

 

 

(2

)

 

 

(5

)

Non-GAAP research and development

$

22,755

 

 

$

23,218

 

 

$

48,392

 

 

$

45,863

 

 

 

 

 

 

 

 

 

Sales and marketing

$

50,966

 

 

$

49,724

 

 

$

99,465

 

 

$

93,525

 

Less:

 

 

 

 

 

 

 

Stock-based compensation

 

8,116

 

 

 

8,317

 

 

 

16,063

 

 

 

14,268

 

Employer taxes related to employee stock transactions

 

145

 

 

 

283

 

 

 

335

 

 

 

550

 

Amortization of acquired intangible assets

 

633

 

 

 

610

 

 

 

1,265

 

 

 

1,220

 

Restructuring costs

 

(10

)

 

 

56

 

 

 

(10

)

 

 

(48

)

Non-GAAP sales and marketing

$

42,082

 

 

$

40,458

 

 

$

81,812

 

 

$

77,535

 

 

 

 

 

 

 

 

 

General and administrative

$

25,828

 

 

$

27,791

 

 

$

53,368

 

 

$

51,592

 

Less:

 

 

 

 

 

 

 

Stock-based compensation

 

10,900

 

 

 

12,283

 

 

 

22,915

 

 

 

21,900

 

Employer taxes related to employee stock transactions

 

154

 

 

 

172

 

 

 

341

 

 

 

513

 

Acquisition-related expenses

 

31

 

 

 

 

 

 

(1

)

 

 

 

Amortization of acquired intangible assets

 

7

 

 

 

22

 

 

 

29

 

 

 

44

 

Restructuring costs

 

16

 

 

 

1,204

 

 

 

24

 

 

 

1,318

 

Non-GAAP general and administrative

$

14,720

 

 

$

14,110

 

 

$

30,060

 

 

$

27,817

 

 

Note: Certain figures may not sum due to rounding.

PAGERDUTY, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)

(in thousands, except percentages and per share data)

(unaudited)

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Non-GAAP operating income and non-GAAP operating margin

 

 

 

 

 

 

 

Loss from operations

$

(16,027

)

 

$

(26,173

)

 

$

(37,760

)

 

$

(41,973

)

Add:

 

 

 

 

 

 

 

Stock-based compensation

 

32,366

 

 

 

35,537

 

 

 

65,306

 

 

 

63,082

 

Employer taxes related to employee stock transactions

 

574

 

 

 

703

 

 

 

1,277

 

 

 

1,900

 

Amortization of acquired intangible assets

 

2,937

 

 

 

2,805

 

 

 

6,085

 

 

 

5,611

 

Acquisition-related expenses

 

259

 

 

 

162

 

 

 

522

 

 

 

323

 

Restructuring costs

 

2

 

 

 

1,258

 

 

 

10

 

 

 

1,402

 

Non-GAAP operating income

$

20,111

 

 

$

14,292

 

 

$

35,440

 

 

$

30,345

 

 

 

 

 

 

 

 

 

Revenue

$

115,935

 

 

$

107,616

 

 

$

227,107

 

 

$

210,862

 

Operating margin

 

(13.8

)%

 

 

(24.3

)%

 

 

(16.6

)%

 

 

(19.9

)%

Non-GAAP operating margin

 

17.3

%

 

 

13.3

%

 

 

15.6

%

 

 

14.4

%

 

 

 

 

 

 

 

 

Non-GAAP net income attributable to PagerDuty, Inc. common stockholders

 

 

 

 

 

 

 

Net loss attributable to PagerDuty, Inc. common stockholders

$

(13,242

)

 

$

(23,782

)

 

$

(37,298

)

 

$

(36,000

)

Add:

 

 

 

 

 

 

 

Stock-based compensation

 

32,366

 

 

 

35,537

 

 

 

65,306

 

 

 

63,082

 

Employer taxes related to employee stock transactions

 

574

 

 

 

703

 

 

 

1,277

 

 

 

1,900

 

Amortization of debt issuance costs

 

671

 

 

 

478

 

 

 

1,279

 

 

 

933

 

Amortization of acquired intangible assets

 

2,937

 

 

 

2,805

 

 

 

6,085

 

 

 

5,611

 

Acquisition-related expenses

 

259

 

 

 

162

 

 

 

522

 

 

 

323

 

Restructuring costs

 

2

 

 

 

1,258

 

 

 

10

 

 

 

1,402

 

Adjustment attributable to redeemable non-controlling interest

 

2,330

 

 

 

1,729

 

 

 

9,247

 

 

 

1,729

 

Income tax effects and adjustments

 

(5,566

)

 

 

(662

)

 

 

(10,092

)

 

 

(1,454

)

Non-GAAP net income attributable to PagerDuty, Inc. common stockholders

$

20,331

 

 

$

18,228

 

 

$

36,336

 

 

$

37,526

 

 

 

 

 

 

 

 

 

Non-GAAP net income per share, basic

 

 

 

 

 

 

 

Net loss per share, basic, attributable to PagerDuty, Inc. common stockholders

$

(0.14

)

 

$

(0.26

)

 

$

(0.40

)

 

$

(0.39

)

Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders

 

0.36

 

 

 

0.46

 

 

 

0.79

 

 

 

0.80

 

Non-GAAP net income per share, basic, attributable to PagerDuty, Inc. common stockholders

$

0.22

 

 

$

0.20

 

 

$

0.39

 

 

$

0.41

 

 

 

 

 

 

 

 

 

Non-GAAP net income per share, diluted(1)

 

 

 

 

 

 

 

Net loss per share, diluted, attributable to PagerDuty, Inc. common stockholders

$

(0.14

)

 

$

(0.26

)

 

$

(0.40

)

 

$

(0.39

)

Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders

 

0.35

 

 

 

0.45

 

 

 

0.78

 

 

 

0.77

 

Non-GAAP net income per share, diluted, attributable to PagerDuty, Inc. common stockholders

$

0.21

 

 

$

0.19

 

 

$

0.38

 

 

$

0.38

 

 

 

 

 

 

 

 

 

Weighted-average shares used in calculating net loss per share, basic and diluted

 

93,289

 

 

 

92,542

 

 

 

93,082

 

 

 

92,041

 

 

 

 

 

 

 

 

 

Weighted-average shares used in calculating non-GAAP net income per share

 

 

 

 

 

 

 

Basic

 

93,289

 

 

 

92,542

 

 

 

93,082

 

 

 

92,041

 

Diluted

 

96,238

 

 

 

103,235

 

 

 

96,245

 

 

 

103,342

 

Note: Certain figures may not sum due to rounding.

 

(1) On October 13, 2023, the Company provided written notice to the trustee and the note holders of the 2025 Notes that it had irrevocably elected to settle the principal amount of its convertible senior notes in cash and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in respect to the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2025 Notes being converted. The company uses the if-converted method to calculate the non-GAAP net income per diluted share attributable to PagerDuty, Inc. related to the convertible notes due 2025 prior to the election on October 13, 2023. As such, approximately 7.2 million shares related to the convertible notes due 2025 were included in the non-GAAP diluted outstanding share number for the three and six months ended July 31, 2023, related to the period prior to the election on October 13, 2023. Similarly, for the three and six months ended July 31, 2023, the numerator used to compute this measure was increased by $0.9 million and $1.8 million, respectively, for after-tax interest expense savings related to our convertible notes.

PAGERDUTY, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued)

(in thousands, except percentages)

(unaudited)

 

 

Three months ended July 31,

 

Six months ended July 31,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Free cash flow and free cash flow margin

 

 

 

 

 

 

 

Net cash provided by operating activities

$

35,769

 

 

$

10,750

 

 

$

64,416

 

 

$

32,902

 

Purchases of property and equipment

 

(637

)

 

 

(713

)

 

 

(1,094

)

 

 

(948

)

Capitalization of internal-use software costs

 

(1,849

)

 

 

(1,299

)

 

 

(2,941

)

 

 

(2,371

)

Free cash flow

$

33,283

 

 

$

8,738

 

 

$

60,381

 

 

$

29,583

 

Net cash used in investing activities

$

(3,800

)

 

$

(12,575

)

 

$

(6,621

)

 

$

(4,012

)

Net cash (used in) provided by financing activities

$

(28,944

)

 

$

3,573

 

 

$

(35,205

)

 

$

(496

)

 

 

 

 

 

 

 

 

Revenue

$

115,935

 

 

$

107,616

 

 

$

227,107

 

 

$

210,862

 

Free cash flow margin

 

28.7

%

 

 

8.1

%

 

 

26.6

%

 

 

14.0

%

 

Investor Relations Contact:

Tony Righetti

investor@pagerduty.com

Press Contact:

Debbie O'Brien

media@pagerduty.com

SOURCE PagerDuty

Source: PagerDuty, Inc.

FAQ

What was PagerDuty's (PD) revenue growth in Q2 fiscal 2025?

PagerDuty's revenue grew 7.7% year-over-year to $115.9 million in Q2 fiscal 2025.

How much did PagerDuty's (PD) ARR grow in Q2 fiscal 2025?

PagerDuty's ending ARR grew 10% year-over-year to $474 million in Q2 fiscal 2025.

What was PagerDuty's (PD) non-GAAP operating income in Q2 fiscal 2025?

PagerDuty reported a non-GAAP operating income of $20.1 million with a 17.3% margin in Q2 fiscal 2025.

How many customers does PagerDuty (PD) have with ARR over $100K as of Q2 fiscal 2025?

PagerDuty had 820 customers with annual recurring revenue over $100,000 as of Q2 fiscal 2025, growing 6% year-over-year.

What is PagerDuty's (PD) updated revenue guidance for fiscal 2025?

PagerDuty updated its fiscal 2025 revenue guidance to $463.0-$467.0 million, representing 7-8% growth year-over-year.

PagerDuty, Inc.

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