PagerDuty, Inc. (PD) Tops Q4 EPS by 4c, Revenues Beat; Offers 1Q & FY22 EPS/Revenues Guidance Above Consensus

PagerDuty, Inc. (NYSE: PD) reported Q4 EPS of ($0.07), $0.04 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $59.3 million versus the consensus estimate of $57.47 million.

Fourth Quarter Fiscal 2021 Financial Highlights

• Revenue: Total revenue was $59.3 million, up 29.1% year-over-year.
• Gross Margin: GAAP gross margin was 84.1% compared to 86.2% in the fourth quarter of fiscal 2020. Non-GAAP gross margin was 85.6% compared to 86.7% in the fourth quarter of fiscal 2020.
• Operating Loss: GAAP operating loss was $18.4 million, or GAAP operating margin of negative 31.0%, compared to an $11.8 million GAAP operating loss, or GAAP operating margin of negative 25.6%, in the fourth quarter of fiscal 2020. Non-GAAP operating loss was $5.4 million, or non-GAAP operating margin of negative 9.1%, compared to a $3.9 million non-GAAP operating loss, or non-GAAP operating margin of negative 8.6%, in the fourth quarter of fiscal 2020.
• Net Loss: GAAP net loss was $22.1 million, compared to $10.4 million in the fourth quarter of fiscal 2020. GAAP net loss per share was $0.27, compared to $0.14 in the fourth quarter of fiscal 2020. Non-GAAP net loss was $5.8 million, compared to $2.6 million in the fourth quarter of fiscal 2020. Non-GAAP net loss per share was $0.07, compared to $0.03 in the fourth quarter of fiscal 2020.
• Cash Flow: Net cash provided by operations was $3.4 million, or 5.7% of revenue, compared to net cash provided by operations of $1.8 million, or 3.9% of revenue, in the fourth quarter of fiscal 2020. Free cash flow was $2.3 million, or 3.8% of revenue, compared to negative $0.2 million, or (0.4)% of revenue, in the fourth quarter of fiscal 2020.
• Cash and Cash Equivalents and Investments were $560.3 million as of January 31, 2021.

"The fourth quarter was outstanding for PagerDuty. We added $59 million in revenue, reaccelerating growth sequentially to 29% year over year, as our momentum built to close out an unparalleled year,” said Jennifer Tejada, CEO at PagerDuty. “During fiscal 2021 we continued to see strength in the enterprise and mid-market, with total dollar-based net retention of 121 percent and enterprise dollar-based net retention above 125 percent exiting the year. I am incredibly appreciative of our customers and partners for their loyalty and trust, and grateful for the PagerDuty team, whose resilience, commitment and customer devotion over the last 12 months was inspiring and delivered a great outcome for our stakeholders."

GUIDANCE:

PagerDuty, Inc. sees Q1 2022 EPS of ($0.10)-($0.09), versus the consensus of ($0.07). PagerDuty, Inc. sees Q1 2022 revenue of $61-63 million, versus the consensus of $60.96 million.

PagerDuty, Inc. sees FY2022 EPS of ($0.43)-($0.36), versus the consensus of ($0.21). PagerDuty, Inc. sees FY2022 revenue of $264-270 million, versus the consensus of $262.63 million.

For the first quarter of fiscal 2021, PagerDuty currently expects:

• Total revenue of $61.0 million - $63.0 million, representing a growth rate of 23% - 27% year-over-year
• Non-GAAP net loss per share of $0.10 - $0.09, assuming approximately 83 million shares

For the full fiscal year 2021, PagerDuty currently expects:

• Total revenue of $264.0 million - $270.0 million, representing a growth rate of 24% - 26% year-over-year
• Non-GAAP net loss per share of $0.43 - $0.36, assuming approximately 84 million shares

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

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