PagerDuty Q3 2024 Earnings Report
Key Takeaways
PagerDuty reported a 15% year-over-year increase in revenue, reaching $108.7 million. The company's non-GAAP operating income was $15.0 million, resulting in a non-GAAP operating margin of 13.8%. PagerDuty also saw growth in annual recurring revenue and customers with ARR over $100,000.
Revenue increased by 15.4% year-over-year to $108.7 million.
GAAP operating loss was $20.8 million, with a GAAP operating margin of negative 19.2%.
Non-GAAP operating income reached $15.0 million, resulting in a non-GAAP operating margin of 13.8%.
Annual recurring revenue grew 13% year-over-year to $438.9 million.
PagerDuty
PagerDuty
Forward Guidance
For the fourth quarter of fiscal 2024, PagerDuty expects total revenue of $109.5 million - $111.5 million, representing a growth rate of 8% - 10% year over year and Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.14 - $0.15 assuming approximately 95 million diluted shares. For the full fiscal year 2024, PagerDuty expects total revenue of $429.0 million - $431.0 million, representing a growth rate of 16% year over year and Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.72 - $0.73 assuming approximately 101 million diluted shares.
Positive Outlook
- Expects total revenue of $109.5 million - $111.5 million for Q4 2024, representing a growth rate of 8% - 10% year over year
- Expects Non-GAAP net income per diluted share of $0.14 - $0.15 for Q4 2024, assuming approximately 95 million diluted shares.
- Expects total revenue of $429.0 million - $431.0 million for full fiscal year 2024, representing a growth rate of 16% year over year
- Expects Non-GAAP net income per diluted share of $0.72 - $0.73 for full fiscal year 2024, assuming approximately 101 million diluted shares.
- Guidance reflects continued growth and profitability.
Challenges Ahead
- The provided guidance is forward-looking and actual results may differ materially.
- Guidance has not reconciled its expectations as to non-GAAP net income (loss) per share attributable to PagerDuty, Inc. common stockholders to GAAP net loss per share attributable to PagerDuty, Inc. common stockholders because certain items are out of its control or cannot be reasonably predicted.
- Unfavorable conditions in the industry or global economy could impact results.
- Inability to attract new customers and retain existing customers could impact results.
- Dependence on revenue from a single product poses a risk.