PagerDuty, Inc. (PD) Tops Q2 EPS by 3c; Offers 3Q & FY21 EPS/Revenue Guidance

PagerDuty, Inc. (NYSE: PD) reported Q2 EPS of ($0.04), $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $50.7 million versus the consensus estimate of $50.7 million.

Second Quarter Fiscal 2021 Financial Highlights

• Revenue: Total revenue was $50.7 million, up 25.7% year-over-year.
• Gross Margin: GAAP gross margin was 86.9% compared to 84.9% in the second quarter of fiscal 2020. Non-GAAP gross margin was 87.4% compared to 85.7% in the second quarter of fiscal 2020.
• Operating Loss: GAAP operating loss was $13.4 million, or GAAP operating margin of negative 26.5%, compared to a $14.4 million GAAP loss, or GAAP operating margin of negative 35.6%, in the second quarter of fiscal 2020. Non-GAAP operating loss was $3.5 million, or non-GAAP operating margin of negative 6.8%, compared to a $7.1 million non-GAAP operating loss, or non-GAAP operating margin of negative 17.7%, in the second quarter of fiscal 2020.
• Net Loss: GAAP net loss was $14.7 million, compared to $12.6 million in the second quarter of fiscal 2020. GAAP net loss per share was $0.19, compared to $0.17 in the second quarter of fiscal 2020. Non-GAAP net loss was $3.5 million, compared to $5.3 million in the second quarter of fiscal 2020. Non-GAAP net loss per share was $0.04, compared to $0.07 in the second quarter of fiscal 2020.
• Cash Flow: Net cash provided by operations was $2.0 million, or 4.0% of revenue, compared to $2.2 million, or 5.3% of revenue, in the second quarter of fiscal 2020. Free cash flow was $1.4 million, or 2.7% of revenue, compared to $1.3 million, or 3.3% of revenue, in the second quarter of fiscal 2020.
• Cash and Cash Equivalents and Current Investments were $601.6 million as of July 31, 2020.

"PagerDuty is well-positioned to benefit from the long-term tailwinds of digital acceleration, cloud migration, and DevOps,” said Jennifer Tejada, CEO at PagerDuty. “Despite the extraordinary market dynamics, our customers remain loyal and we remain confident in our strategy and optimistic about our growth.”

GUIDANCE:

PagerDuty, Inc. sees Q3 2021 EPS of ($0.11)-($0.10), versus the consensus of ($0.09). PagerDuty, Inc. sees Q3 2021 revenue of $52-53 million, versus the consensus of $52.56 million.

PagerDuty, Inc. sees FY2021 EPS of ($0.30)-($0.27), versus the consensus of ($0.27). PagerDuty, Inc. sees FY2021 revenue of $206-211 million, versus the consensus of $208.25 million.

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

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