PagerDuty, Inc. (PD) Tops Q1 EPS by 5c, Revenues Beat; Offers 2Q EPS/Revenue Guidance Above Consensus, FY21 EPS Views Above Cons., Offers FY21 Revenue Outlook

June 4, 2020 4:06 PM EDT

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PagerDuty, Inc. (NYSE: PD) reported Q1 EPS of ($0.04), $0.05 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $49.8 million versus the consensus estimate of $47.99 million.

First Quarter Fiscal 2021 Financial Highlights

  • Revenue: Total revenue was $49.8 million, up 33% year-over-year.
  • Gross Margin: GAAP gross margin was 86.0%. Non-GAAP gross margin was 86.7% compared to non-GAAP gross margin of 85.7% in the first quarter of fiscal 2020.
  • Operating Loss: GAAP operating loss was $12.6 million, or GAAP operating margin of negative 25.3%, compared to a $12.7 million GAAP loss, or GAAP operating margin of negative 34.1%, in the first quarter of fiscal 2020. Non-GAAP operating loss was $4.3 million, or non-GAAP operating margin of negative 8.6%, compared to a $7.9 million non-GAAP loss, or non-GAAP operating margin of negative 21.2%, in the first quarter of fiscal 2020.
  • Net Loss: GAAP net loss was $11.5 million, compared to $12.1 million in the first quarter of fiscal 2020. GAAP net loss per share was $0.15, compared to $0.37 in the first quarter of fiscal 2020. Non-GAAP net loss was $3.2 million, compared to $7.3 million in the first quarter of fiscal 2020. Non-GAAP net loss per share was $0.04, compared to $0.22 in the first quarter of fiscal 2020.
  • Cash Flow: Net cash used in operations was $0.2 million, or 0.4% of revenue, compared to net cash used in operations of $7.6 million, or 20.3% of revenue, in the first quarter of fiscal 2020. Free cash flow was negative $2.9 million, or 5.8% of revenue, compared to negative $8.8 million, or 23.5% of revenue, in the first quarter of fiscal 2020.
  • Cash and Cash Equivalents and Current Investments were $350.8 million as of April 30, 2020.

“PagerDuty is pleased to report a strong start to the fiscal year, with a 33% year-on-year revenue increase to $49.8 million for the quarter, demonstrating the continued trust our customers place in the PagerDuty platform. We believe that PagerDuty is uniquely positioned to be a trusted partner in this environment. Our cloud-native platform is designed to enable proactive response capabilities to prevent outages, and gain predictive insights so our customers can automate repetitive work and improve collaboration across virtual teams,” said Jennifer Tejada, CEO at PagerDuty.

GUIDANCE:

PagerDuty, Inc. sees Q2 2021 EPS of ($0.07)-($0.06), versus the consensus of ($0.08). PagerDuty, Inc. sees Q2 2021 revenue of $50-51 million, versus the consensus of $49.79 million.

PagerDuty, Inc. sees FY2021 EPS of ($0.30)-($0.25), versus the consensus of ($0.31). PagerDuty, Inc. sees FY2021 revenue of $204-213 million, versus the consensus of $206.69 million.

For earnings history and earnings-related data on PagerDuty, Inc. (PD) click here.



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