PagerDuty Announces Third Quarter Fiscal 2022 Financial Results
PagerDuty, Inc. (NYSE:PD) reported a 33% year-over-year revenue increase to $72 million for Q3 fiscal 2022, ending October 31, 2021. Despite this growth, the company faced a GAAP operating loss of $24.8 million and a non-GAAP operating loss of $5.0 million. The total number of paid customers rose to 14,486, while customers with annual recurring revenue over $100,000 grew to 543. Looking ahead, PagerDuty projects Q4 revenue of $75.5 million - $76.5 million and full fiscal year revenue of $278.5 million - $279.5 million.
- 33% revenue growth year-over-year to $72 million.
- Total paid customers increased to 14,486.
- Customers with ARR over $100,000 rose to 543.
- Dollar-based net retention rate improved to 124%.
- Forecasts Q4 revenue between $75.5 million and $76.5 million.
- GAAP operating loss of $24.8 million.
- Non-GAAP operating loss of $5.0 million.
- GAAP net loss per share of $0.31.
Third quarter revenue increased
Third quarter GAAP operating loss of
"Q3 was an outstanding quarter for
Third Quarter Fiscal 2022 Financial Highlights
-
Revenue was
, an increase of$71.8 million 33.5% year over year. -
GAAP operating loss was
; GAAP operating margin of negative$24.8 million 34.6% . -
Non-GAAP operating loss was
; non-GAAP operating margin of negative$5.0 million 7.0% . -
GAAP net loss per share was
; non-GAAP net loss per share was$0.31 .$0.07 -
Operating cash flow was
, with free cash flow of$2.7 million .$1.8 million -
Cash, cash equivalents and current investments were
as of$545.3 million October 31, 2021 .
The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures and reconciliations between historical GAAP and non-GAAP information.
Third Quarter and Recent Highlights
-
Total paid customers of 14,486 as of
October 31, 2021 , compared to 13,725 in the year ago period. -
Customers with annual recurring revenue (“ARR”) over
was 543 as of$100,000 October 31, 2021 , compared to 401 in the year ago period. -
Land and Expand: PagerDuty’s go to market engine continues to bring in new customers and expand with current customers including Albertsons,
Cox Automotive ,Cuscal (the largest independent provider of payments solutions for the Australian financial services sector), Guidewire, Hopin, Lululemon Athletica,Saviynt , Shopify, and Truist Financial. -
Dollar-based net retention rate of
124% as ofOctober 31, 2021 , compared to119% in the year ago period. -
International revenue of
24% of revenue as ofOctober 31, 2021 , consistent with the year ago period. - Announced a series of fall product releases to enhance the PagerDuty Operations Cloud.
-
Announced an update to
PagerDuty for Salesforce Service Cloud. -
Announced new integrations to Datadog: Status Dashboard by Pager Duty and Incidents by
PagerDuty . -
Announced plans to establish a cross-functional hub of innovation and development in
Lisbon, Portugal . - Featured case studies: Guidewire and SPS Commerce.
Financial Outlook
For the fourth quarter of fiscal 2022,
-
Total revenue of
-$75.5 million , representing a growth rate of$76.5 million 27% -29% year over year -
Non-GAAP net loss per share of
-$0.06 assuming approximately 86 million shares$0.05
For the full fiscal year 2022,
-
Total revenue of
-$278.5 million , representing a growth rate of$279.5 million 30% -31% year over year -
Non-GAAP net loss per share of
-$0.34 assuming approximately 84 million shares$0.33
These statements are forward-looking and actual results may differ materially. Please refer to the Forward-Looking Statements section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
Conference Call Information:
Supplemental Financial and Other Information:
Supplemental financial and other information can be accessed through PagerDuty’s investor relations website at investor.pagerduty.com.
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 operating expenses, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, and free cash flow.
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,
Share-based Compensation:
Employer Taxes Related to Employee Stock Transactions:
Amortization of Acquired Intangible Assets:
Acquisition-Related Expenses:
Amortization of Debt Issuance Costs: For the three and nine months ended
Acquisition-Related Income Tax Benefit:
There are a number of limitations related to the use of free cash flow as compared to net cash provided by (used in) 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.
Please see the reconciliation tables at the end of this release for the reconciliation of GAAP and non-GAAP results.
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,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “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 Form 10-K filed with the
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
Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except per share data) (unaudited) |
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Revenue |
$ |
71,760 |
|
|
$ |
53,772 |
|
|
$ |
202,887 |
|
|
$ |
154,272 |
|
Cost of revenue(1) |
12,039 |
|
|
7,685 |
|
|
34,433 |
|
|
21,285 |
|
||||
Gross profit |
59,721 |
|
|
46,087 |
|
|
168,454 |
|
|
132,987 |
|
||||
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Research and development(1) |
24,554 |
|
|
16,156 |
|
|
68,062 |
|
|
46,705 |
|
||||
Sales and marketing(1) |
40,176 |
|
|
34,024 |
|
|
118,224 |
|
|
88,271 |
|
||||
General and administrative(1) |
19,808 |
|
|
17,746 |
|
|
56,680 |
|
|
45,899 |
|
||||
Total operating expenses |
84,538 |
|
|
67,926 |
|
|
242,966 |
|
|
180,875 |
|
||||
Loss from operations |
(24,817 |
) |
|
(21,839 |
) |
|
(74,512 |
) |
|
(47,888 |
) |
||||
Interest income |
705 |
|
|
974 |
|
|
2,306 |
|
|
3,375 |
|
||||
Interest expense |
(1,350 |
) |
|
(4,133 |
) |
|
(4,045 |
) |
|
(5,741 |
) |
||||
Other expense, net |
(729 |
) |
|
(449 |
) |
|
(1,931 |
) |
|
(861 |
) |
||||
Loss before (provision for) benefit from income taxes |
(26,191 |
) |
|
(25,447 |
) |
|
(78,182 |
) |
|
(51,115 |
) |
||||
(Provision for) benefit from income taxes |
(150 |
) |
|
4,839 |
|
|
(378 |
) |
|
4,360 |
|
||||
Net loss |
$ |
(26,341 |
) |
|
$ |
(20,608 |
) |
|
$ |
(78,560 |
) |
|
$ |
(46,755 |
) |
Other comprehensive (loss) income |
|
|
|
|
|
|
|
||||||||
Unrealized (loss) gain on investments |
(222 |
) |
|
(422 |
) |
|
(534 |
) |
|
497 |
|
||||
Total comprehensive loss |
$ |
(26,563 |
) |
|
$ |
(21,030 |
) |
|
$ |
(79,094 |
) |
|
$ |
(46,258 |
) |
Net loss per share, basic and diluted |
$ |
(0.31 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.94 |
) |
|
$ |
(0.59 |
) |
Weighted-average shares used in calculating net loss per share, basic and diluted |
85,092 |
|
|
79,937 |
|
|
83,979 |
|
|
78,835 |
|
(1) Includes stock-based compensation expense as follows:
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Cost of revenue |
$ |
861 |
|
|
$ |
488 |
|
|
$ |
2,560 |
|
|
$ |
1,095 |
|
Research and development |
6,183 |
|
|
2,807 |
|
|
16,230 |
|
|
7,459 |
|
||||
Sales and marketing |
4,606 |
|
|
6,254 |
|
|
12,961 |
|
|
11,409 |
|
||||
General and administrative |
6,128 |
|
|
3,910 |
|
|
16,115 |
|
|
11,772 |
|
||||
Total |
$ |
17,778 |
|
|
$ |
13,459 |
|
|
$ |
47,866 |
|
|
$ |
31,735 |
|
Condensed Consolidated Balance Sheets (in thousands) (unaudited) |
|||||||
|
As of |
|
As of |
||||
|
(unaudited) |
|
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
359,738 |
|
|
$ |
339,166 |
|
Investments |
185,545 |
|
|
221,112 |
|
||
Accounts receivable, net of allowance for doubtful accounts of |
53,965 |
|
|
55,119 |
|
||
Deferred contract costs, current |
15,075 |
|
|
12,330 |
|
||
Prepaid expenses and other current assets |
11,833 |
|
|
10,587 |
|
||
Total current assets |
626,156 |
|
|
638,314 |
|
||
Property and equipment, net |
14,625 |
|
|
12,639 |
|
||
Deferred contract costs, non-current |
22,703 |
|
|
19,257 |
|
||
Lease right-of-use assets |
21,360 |
|
|
24,691 |
|
||
|
72,126 |
|
|
72,126 |
|
||
Intangible assets, net |
24,008 |
|
|
26,633 |
|
||
Other assets |
1,108 |
|
|
1,783 |
|
||
Total assets |
$ |
782,086 |
|
|
$ |
795,443 |
|
Liabilities and stockholders’ equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
9,564 |
|
|
$ |
5,747 |
|
Accrued expenses and other current liabilities |
11,167 |
|
|
9,627 |
|
||
Accrued compensation |
32,253 |
|
|
28,372 |
|
||
Deferred revenue, current |
137,353 |
|
|
123,686 |
|
||
Lease liabilities, current |
5,554 |
|
|
5,262 |
|
||
Total current liabilities |
195,891 |
|
|
172,694 |
|
||
Convertible senior notes, net |
280,615 |
|
|
217,528 |
|
||
Deferred revenue, non-current |
5,497 |
|
|
6,286 |
|
||
Lease liabilities, non-current |
22,438 |
|
|
26,542 |
|
||
Other liabilities |
4,256 |
|
|
5,666 |
|
||
Total liabilities |
508,697 |
|
|
428,716 |
|
||
Stockholders’ equity: |
|
|
|
||||
Common stock |
— |
|
|
— |
|
||
Additional paid-in-capital |
593,508 |
|
|
614,494 |
|
||
Accumulated other comprehensive income |
(191 |
) |
|
343 |
|
||
Accumulated deficit |
(319,928 |
) |
|
(248,110 |
) |
||
Total stockholders’ equity |
273,389 |
|
|
366,727 |
|
||
Total liabilities and stockholders’ equity |
$ |
782,086 |
|
|
$ |
795,443 |
|
Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) |
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Cash flows from operating activities |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(26,341 |
) |
|
$ |
(20,608 |
) |
|
$ |
(78,560 |
) |
|
$ |
(46,755 |
) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
2,133 |
|
|
1,313 |
|
|
6,160 |
|
|
3,352 |
|
||||
Amortization of deferred contract costs |
3,839 |
|
|
2,830 |
|
|
10,651 |
|
|
7,894 |
|
||||
Amortization of debt discount and issuance costs (1) |
452 |
|
|
3,235 |
|
|
1,350 |
|
|
4,493 |
|
||||
Stock-based compensation |
17,778 |
|
|
13,459 |
|
|
47,866 |
|
|
31,735 |
|
||||
Non-cash lease expense |
1,122 |
|
|
1,095 |
|
|
3,331 |
|
|
3,299 |
|
||||
Other |
897 |
|
|
471 |
|
|
2,592 |
|
|
1,897 |
|
||||
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
||||||||
Accounts receivable |
(6,113 |
) |
|
(2,586 |
) |
|
360 |
|
|
(3,879 |
) |
||||
Deferred contract costs |
(7,357 |
) |
|
(4,745 |
) |
|
(16,842 |
) |
|
(10,944 |
) |
||||
Prepaid expenses and other assets |
1,905 |
|
|
1,384 |
|
|
(857 |
) |
|
(3,605 |
) |
||||
Accounts payable |
2,657 |
|
|
1,339 |
|
|
3,836 |
|
|
(210 |
) |
||||
Accrued expenses and other liabilities |
(3,452 |
) |
|
(1,394 |
) |
|
(79 |
) |
|
2,224 |
|
||||
Accrued compensation |
7,590 |
|
|
6,402 |
|
|
3,760 |
|
|
7,689 |
|
||||
Deferred revenue |
8,848 |
|
|
3,864 |
|
|
12,878 |
|
|
12,475 |
|
||||
Lease liabilities |
(1,308 |
) |
|
(1,215 |
) |
|
(3,812 |
) |
|
(2,959 |
) |
||||
Net cash provided by (used in) operating activities |
2,650 |
|
|
4,844 |
|
|
(7,366 |
) |
|
6,706 |
|
||||
Cash flows from investing activities |
|
|
|
|
|
|
|
||||||||
Purchases of property and equipment |
(85 |
) |
|
(110 |
) |
|
(1,376 |
) |
|
(3,402 |
) |
||||
Capitalization of internal-use software costs |
(784 |
) |
|
(217 |
) |
|
(2,701 |
) |
|
(328 |
) |
||||
Business acquisitions, net of cash acquired |
— |
|
|
(49,656 |
) |
|
(160 |
) |
|
(49,656 |
) |
||||
Proceeds from maturities of held-to-maturity of investments |
— |
|
|
4,000 |
|
|
— |
|
|
28,040 |
|
||||
Purchases of available-for-sale investments |
(34,505 |
) |
|
(53,225 |
) |
|
(150,608 |
) |
|
(153,254 |
) |
||||
Proceeds from maturities of available-for-sale investments |
40,466 |
|
|
51,720 |
|
|
156,616 |
|
|
123,352 |
|
||||
Proceeds from sales of available-for-sale investments |
— |
|
|
2,000 |
|
|
27,380 |
|
|
9,285 |
|
||||
Net cash provided by (used in) investing activities |
5,092 |
|
|
(45,488 |
) |
|
29,151 |
|
|
(45,963 |
) |
||||
Cash flows from financing activities |
|
|
|
|
|
|
|
||||||||
Proceeds from issuance of convertible senior notes, net of issuance costs paid of |
— |
|
|
(684 |
) |
|
— |
|
|
278,665 |
|
||||
Purchase of capped call related to convertible senior notes |
— |
|
|
— |
|
|
— |
|
|
(35,708 |
) |
||||
Proceeds from employee stock purchase plan |
— |
|
|
— |
|
|
4,889 |
|
|
3,558 |
|
||||
Proceeds from issuance of common stock upon exercise of stock options |
5,087 |
|
|
3,938 |
|
|
12,517 |
|
|
9,709 |
|
||||
Employee payroll taxes paid related to net share settlement of restricted stock units |
(7,616 |
) |
|
(2,591 |
) |
|
(18,619 |
) |
|
(4,334 |
) |
||||
Net cash (used in) provided by financing activities |
(2,529 |
) |
|
663 |
|
|
(1,213 |
) |
|
251,890 |
|
||||
Net increase in cash, cash equivalents, and restricted cash |
5,213 |
|
|
(39,981 |
) |
|
20,572 |
|
|
212,633 |
|
||||
Cash, cash equivalents, and restricted cash at beginning of period |
354,525 |
|
|
376,638 |
|
|
339,166 |
|
|
124,024 |
|
||||
Cash, cash equivalents, and restricted cash at end of period |
$ |
359,738 |
|
|
$ |
336,657 |
|
|
$ |
359,738 |
|
|
$ |
336,657 |
|
(1) During the first quarter of fiscal 2022, the Company early adopted ASU 2020-06 which resulted in the elimination of amortization of the debt discount on the convertible senior notes from
Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) |
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Reconciliation of gross profit and gross margin |
|
|
|
|
|
|
|
||||||||
GAAP gross profit |
$ |
59,721 |
|
|
$ |
46,087 |
|
|
$ |
168,454 |
|
|
$ |
132,987 |
|
Plus: Share-based compensation |
861 |
|
|
488 |
|
|
2,560 |
|
|
1,095 |
|
||||
Plus: Employer taxes related to employee stock transactions |
22 |
|
|
14 |
|
|
78 |
|
|
23 |
|
||||
Plus: Amortization of acquired intangible assets |
280 |
|
|
93 |
|
|
840 |
|
|
93 |
|
||||
Non-GAAP gross profit |
$ |
60,884 |
|
|
$ |
46,682 |
|
|
$ |
171,932 |
|
|
$ |
134,198 |
|
GAAP gross margin |
83.2 |
% |
|
85.7 |
% |
|
83.0 |
% |
|
86.2 |
% |
||||
Non-GAAP adjustments |
1.6 |
% |
|
1.1 |
% |
|
1.7 |
% |
|
0.8 |
% |
||||
Non-GAAP gross margin |
84.8 |
% |
|
86.8 |
% |
|
84.7 |
% |
|
87.0 |
% |
||||
|
|
|
|
|
|
|
|
||||||||
Reconciliation of operating expenses |
|
|
|
|
|
|
|
||||||||
GAAP research and development |
$ |
24,554 |
|
|
$ |
16,156 |
|
|
$ |
68,062 |
|
|
$ |
46,705 |
|
Less: Share-based compensation |
(6,183 |
) |
|
(2,807 |
) |
|
(16,230 |
) |
|
(7,459 |
) |
||||
Less: Employer taxes related to employee stock transactions |
(212 |
) |
|
(81 |
) |
|
(618 |
) |
|
(202 |
) |
||||
Less: Acquisition-related expenses |
(442 |
) |
|
(154 |
) |
|
(1,348 |
) |
|
(154 |
) |
||||
Non-GAAP research and development |
$ |
17,717 |
|
|
$ |
13,114 |
|
|
$ |
49,866 |
|
|
$ |
38,890 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP sales and marketing |
$ |
40,176 |
|
|
$ |
34,024 |
|
|
$ |
118,224 |
|
|
$ |
88,271 |
|
Less: Share-based compensation |
(4,606 |
) |
|
(6,254 |
) |
|
(12,961 |
) |
|
(11,409 |
) |
||||
Less: Employer taxes related to employee stock transactions |
(175 |
) |
|
(157 |
) |
|
(533 |
) |
|
(345 |
) |
||||
Less: Amortization of acquired intangible assets |
(595 |
) |
|
(199 |
) |
|
(1,785 |
) |
|
(199 |
) |
||||
Non-GAAP sales and marketing |
$ |
34,800 |
|
|
$ |
27,414 |
|
|
$ |
102,945 |
|
|
$ |
76,318 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP general and administrative |
$ |
19,808 |
|
|
$ |
17,746 |
|
|
$ |
56,680 |
|
|
$ |
45,899 |
|
Less: Share-based compensation |
(6,128 |
) |
|
(3,910 |
) |
|
(16,115 |
) |
|
(11,772 |
) |
||||
Less: Employer taxes related to employee stock transactions |
(286 |
) |
|
(131 |
) |
|
(857 |
) |
|
(217 |
) |
||||
Less: Acquisition-related expenses |
— |
|
|
(1,632 |
) |
|
(8 |
) |
|
(1,632 |
) |
||||
Non-GAAP general and administrative |
$ |
13,394 |
|
|
$ |
12,073 |
|
|
$ |
39,700 |
|
|
$ |
32,278 |
|
|
|
|
|
|
|
|
|
||||||||
Reconciliation of operating loss and operating margin |
|
|
|
|
|
|
|
||||||||
GAAP operating loss |
$ |
(24,817 |
) |
|
$ |
(21,839 |
) |
|
$ |
(74,512 |
) |
|
$ |
(47,888 |
) |
Plus: Share-based compensation |
17,778 |
|
|
13,459 |
|
|
47,866 |
|
|
31,735 |
|
||||
Plus: Employer taxes related to employee stock transactions |
695 |
|
|
383 |
|
|
2,086 |
|
|
787 |
|
||||
Plus: Amortization of acquired intangible assets |
875 |
|
|
292 |
|
|
2,625 |
|
|
292 |
|
||||
Plus: Acquisition-related expenses |
442 |
|
|
1,786 |
|
|
1,356 |
|
|
1,786 |
|
||||
Non-GAAP operating loss |
$ |
(5,027 |
) |
|
$ |
(5,919 |
) |
|
$ |
(20,579 |
) |
|
$ |
(13,288 |
) |
GAAP operating margin |
(34.6 |
)% |
|
(40.6 |
)% |
|
(36.7 |
)% |
|
(31.0 |
)% |
||||
Non-GAAP adjustments |
27.6 |
% |
|
29.6 |
% |
|
26.6 |
% |
|
22.4 |
% |
||||
Non-GAAP operating margin |
(7.0 |
)% |
|
(11.0 |
)% |
|
(10.1 |
)% |
|
(8.6 |
)% |
||||
|
|
|
|
|
|
|
|
||||||||
Reconciliation of net loss |
|
|
|
|
|
|
|
||||||||
GAAP net loss |
$ |
(26,341 |
) |
|
$ |
(20,608 |
) |
|
$ |
(78,560 |
) |
|
$ |
(46,755 |
) |
Plus: Share-based compensation |
17,778 |
|
|
13,459 |
|
|
47,866 |
|
|
31,735 |
|
||||
Plus: Employer taxes related to employee stock transactions |
695 |
|
|
383 |
|
|
2,086 |
|
|
787 |
|
||||
Plus: Amortization of debt discount and issuance costs (1) |
452 |
|
|
3,235 |
|
|
1,350 |
|
|
4,493 |
|
||||
Plus: Amortization of acquired intangible assets |
875 |
|
|
292 |
|
|
2,625 |
|
|
292 |
|
||||
Plus: Acquisition-related expenses |
442 |
|
|
1,786 |
|
|
1,356 |
|
|
1,786 |
|
||||
Plus: Tax benefit associated with acquisition |
$ |
— |
|
|
$ |
(5,058 |
) |
|
$ |
— |
|
|
$ |
(5,058 |
) |
Non-GAAP net loss |
$ |
(6,099 |
) |
|
$ |
(6,511 |
) |
|
$ |
(23,277 |
) |
|
$ |
(12,720 |
) |
|
|
|
|
|
|
|
|
||||||||
Reconciliation of net loss per share, basic and diluted |
|
|
|
|
|
|
|
||||||||
GAAP net loss per share, basic and diluted |
$ |
(0.31 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.94 |
) |
|
$ |
(0.59 |
) |
Non-GAAP adjustments to net loss |
0.24 |
|
|
0.18 |
|
|
0.66 |
|
|
0.44 |
|
||||
Non-GAAP net loss per share, basic and diluted |
$ |
(0.07 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.28 |
) |
|
$ |
(0.16 |
) |
|
|
|
|
|
|
|
|
||||||||
Weighted-average shares used in calculating net loss per share, basic and diluted |
85,092 |
|
|
79,937 |
|
|
83,979 |
|
|
78,835 |
|
Note: Certain figures may not sum due to rounding.
(1) During the first quarter of fiscal 2022, the Company early adopted ASU 2020-06 which resulted in the elimination of amortization of debt discount on the convertible senior notes from
Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except percentages and per share data) (unaudited) |
|||||||||||||||
Free Cash Flow |
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Net cash provided by (used in) operating activities |
$ |
2,650 |
|
|
$ |
4,844 |
|
|
$ |
(7,366 |
) |
|
$ |
6,706 |
|
Less: |
|
|
|
|
|
|
|
||||||||
Purchases of property and equipment |
(85 |
) |
|
(110 |
) |
|
(1,376 |
) |
|
(3,402 |
) |
||||
Capitalization of internal-use software costs |
(784 |
) |
|
(217 |
) |
|
(2,701 |
) |
|
(328 |
) |
||||
Free cash flow |
$ |
1,781 |
|
|
$ |
4,517 |
|
|
$ |
(11,443 |
) |
|
$ |
2,976 |
|
Net cash provided by (used in) investing activities |
$ |
5,092 |
|
|
$ |
(45,488 |
) |
|
$ |
29,151 |
|
|
$ |
(45,963 |
) |
Net cash (used in) provided by financing activities |
$ |
(2,529 |
) |
|
$ |
663 |
|
|
$ |
(1,213 |
) |
|
$ |
251,890 |
|
Free cash flow margin |
2.5 |
% |
|
8.4 |
% |
|
(5.6 |
)% |
|
1.9 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207006087/en/
Investor Relations Contact:
investor@pagerduty.com
SOURCE
Source:
FAQ
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