PagerDuty, Inc. (PD) Tops Q2 EPS by 3c, Revenues Beat; Offers Q3 & FY20 EPS/Revenue Outlook

September 5, 2019 4:14 PM EDT

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PagerDuty, Inc. (NYSE: PD) reported Q2 EPS of ($0.07), $0.03 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $40.4 million versus the consensus estimate of $39.12 million.

Second Quarter Fiscal 2020 Financial Highlights

  • Revenue: Total revenue was $40.4 million, up 45% year-over-year.
  • Gross Margin: GAAP gross margin was 84.9%. Non-GAAP gross margin was 85.7% compared to Non-GAAP gross margin of 86.2% in the second quarter of fiscal 2019.
  • Operating Loss: GAAP operating loss was $14.4 million, or 35.6% of revenue, compared to a $13.0 million loss, or 46.7% of revenue, in the second quarter of fiscal 2019. Non-GAAP operating loss was $7.1 million, or 17.7% of revenue, compared to a $4.2 million loss, or 15.2% of revenue, in the second quarter of fiscal 2019.
  • Net Loss: GAAP net loss was $12.6 million, compared to $12.6 million in the second quarter of fiscal 2019. GAAP net loss per share was $0.17, compared to $0.59 in the second quarter of fiscal 2019. Non-GAAP net loss was $5.3 million, compared to $3.8 million in the second quarter of fiscal 2019. Non-GAAP net loss per share was $0.07, compared to $0.18 in the second quarter of fiscal 2019.
  • Cash Flow: Net cash provided by operations was $2.2 million, or 5.3% of revenue, compared to net cash used in operations of $4.7 million, or 17.1% of revenue, in the second quarter of fiscal 2019. Free cash flow was positive $1.3 million, or 3.3% of revenue, compared to negative $5.0 million, or 18.1% of revenue, in the second quarter of fiscal 2019.
  • Cash and Cash Equivalents and Investments were $341.1 million as of July 31, 2019.

“We are pleased to report strong second quarter results, driven by our continued growth across industry verticals, geographies and use cases, particularly in the mid-market and enterprise segments," said Jennifer Tejada, Chief Executive Officer of PagerDuty. “This was our first $40 million quarter and a record quarter for growth in accounts investing over $100,000. We’re excited to see a growing number of customers around the world utilize the PagerDuty platform to continually improve their digital operations.”

GUIDANCE:

PagerDuty, Inc. sees Q3 2020 EPS of ($0.10)-($0.09), versus the consensus of ($0.08). PagerDuty, Inc. sees Q3 2020 revenue of $41.5-42.5 million, versus the consensus of $41.58 million.

PagerDuty, Inc. sees FY2020 EPS of ($0.37)-($0.36), versus the consensus of ($0.37). PagerDuty, Inc. sees FY2020 revenue of $162-164 million, versus the consensus of $162.39 million.

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



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