PagerDuty Q1 2023 Earnings Report
Key Takeaways
PagerDuty's first quarter fiscal 2023 shows strong revenue growth of 34% year over year, reaching $85.4 million. The company is focused on achieving profitability in Q4 FY23 and for the full year FY24, and has raised its full year top and bottom line guidance.
Revenue increased by 34.3% year over year, totaling $85.4 million.
The company recorded a GAAP operating loss of $32.5 million, with a non-GAAP operating loss of $2.3 million.
Total paid customers reached 15,040, compared to 13,918 in the same period last year.
The dollar-based net retention rate was 126%, compared to 121% in the previous year.
PagerDuty
PagerDuty
Forward Guidance
For the second quarter of fiscal 2023, PagerDuty expects total revenue of $87.0 million - $89.0 million, representing a growth rate of 29% - 32% year over year. Non-GAAP net loss per share is expected to be $0.09 - $0.08 assuming approximately 88 million shares. For the full fiscal year 2023, PagerDuty expects total revenue of $364.0 million - $369.0 million, representing a growth rate of 29% - 31% year over year and Non-GAAP net loss per share of $0.21 - $0.17 assuming approximately 89 million shares.
Positive Outlook
- Total revenue of $87.0 million - $89.0 million, representing a growth rate of 29% - 32% year over year (Q2 2023)
- Non-GAAP net loss per share of $0.09 - $0.08 assuming approximately 88 million shares (Q2 2023)
- Total revenue of $364.0 million - $369.0 million, representing a growth rate of 29% - 31% year over year (FY2023)
- Non-GAAP net loss per share of $0.21 - $0.17 assuming approximately 89 million shares (FY2023)
- Committed to profitability in Q4 FY23 and for the full year FY24