PagerDuty Q2 2024 Earnings Report
Key Takeaways
PagerDuty reported a 19% year-over-year increase in revenue, reaching $107.6 million in the second quarter of fiscal year 2024. The company demonstrated improved operational efficiency with a 13% non-GAAP operating margin. PagerDuty also advanced its generative AI offerings, including AI-generated runbooks, to address customer priorities such as revenue protection, cost reduction, and risk mitigation.
Revenue increased by 19% year-over-year to $107.6 million.
GAAP operating loss was $26.2 million, while non-GAAP operating income was $14.3 million.
Annual recurring revenue (ARR) grew 17% year-over-year to $431.0 million.
The company expanded its generative AI offering through AI-generated runbooks.
PagerDuty
PagerDuty
Forward Guidance
For the third quarter of fiscal 2024, PagerDuty expects total revenue of $106.5 million - $108.5 million, representing a growth rate of 13% - 15% year over year, and non-GAAP net income per diluted share of $0.13 - $0.14 assuming approximately 105 million diluted shares. For the full fiscal year 2024, PagerDuty expects total revenue of $426.0 million - $430.0 million, representing a growth rate of 15% - 16% year over year, and non-GAAP net income per diluted share of $0.60 - $0.65 assuming approximately 105 million diluted shares.
Positive Outlook
- Expects total revenue of $106.5 million - $108.5 million for Q3 2024.
- Q3 revenue represents a growth rate of 13% - 15% year over year
- Expects non-GAAP net income per diluted share of $0.13 - $0.14 for Q3 2024.
- Expects total revenue of $426.0 million - $430.0 million for fiscal year 2024.
- Fiscal year 2024 revenue represents a growth rate of 15% - 16% year over year