First quarter revenue increased 8% year over
year to $111.2 million First quarter GAAP operating loss of $21.7
million, non-GAAP operating income of $15.3 million
Announces $100 million share repurchase
program
PagerDuty, Inc. (NYSE:PD), a leader in digital operations
management, today announced financial results for the first quarter
of fiscal 2025, ended April 30, 2024.
“PagerDuty delivered a solid first quarter with annual recurring
revenue growth stabilizing at 10% for the second consecutive
quarter, and non-GAAP operating margin four percentage points above
the range,” said Jennifer Tejada, Chairperson and CEO, PagerDuty.
“We continue to scale efficiently, delivering our seventh
consecutive quarter of non-GAAP profitability. We are encouraged by
the stability and momentum emerging from PagerDuty's enterprise
focus and success."
PagerDuty also announced today that its Board of Directors has
authorized a share repurchase program for up to $100 million of
common stock.
“We believe that our business is well positioned for growth and
the continuation of meaningful free cash flow,” said Howard Wilson,
Chief Financial Officer, PagerDuty. “This share repurchase program
signals our desire to manage share dilution and reflects the
confidence of the Board and management team in our strategy.”
First Quarter Fiscal 2025 Financial Highlights
- Revenue was $111.2 million, an increase of 7.7% year over
year.
- GAAP operating loss was $21.7 million; GAAP operating margin of
negative 19.5%.
- Non-GAAP operating income was $15.3 million; non-GAAP operating
margin of 13.8%.
- GAAP net loss per share attributable to PagerDuty, Inc. common
stockholders was $0.26.
- Non-GAAP net income per diluted share attributable to
PagerDuty, Inc. common stockholders was $0.17.
- Operating cash flow was $28.6 million, with free cash flow of
$27.1 million.
- Cash, cash equivalents and current investments were $592.8
million as of April 30, 2024.
The section titled “Non-GAAP Financial Measures” below contains
a description of the non-GAAP financial measures and
reconciliations between historical GAAP and non-GAAP
information.
First Quarter and Recent Highlights
- Customers with annual recurring revenue over $100,000 grew 6%
to 811 as of April 30, 2024, compared to 764 a year ago.
- Dollar-based net retention rate of 106% as of April 30, 2024,
compared to 116% a year ago.
- Total free and paid customers of more than 29,000 as of April
30, 2024 representing approximately 18% growth year over year.
- Total paid customers of 15,120 as of April 30, 2024, compared
to 15,089 a year ago.
- Remaining performance obligations were $388.0 million as of
April 30, 2024. Of this amount, the Company expects to recognize
revenue of approximately $273.4 million, or 70%, over the next 12
months with the balance to be recognized as revenue
thereafter.1
- Lands and expands include: Cisco Systems, DataDog, Equinix,
Eventbrite, PriceSmart, Telefonica, Veterans Affairs/VA and
ZScaler
- Unveiled advanced AI and automation enhancements to accelerate
the resolution of operational issues and increase revenue
- Expanded PagerDuty’s Incident Management product with a new
enterprise offering
- Announced Eduardo Crespo as Vice President of EMEA
- Published PagerDuty’s Fourth Annual Impact Report
- Approved for Veterans Affairs Authority to Operate and advanced
to “In PMO Review” status on the FedRAMP marketplace.
- Showcased PagerDuty customers - New York Stock Exchange and
Ryanair in Executive Spotlight series
1Beginning in the first quarter of fiscal
2025, the Company now includes contracts with an original term of
less than 12 months in this disclosure which comprised $135.0
million of remaining non-cancelable performance obligations as of
April 30, 2024.
Share Repurchase Program Authorization
In May 2024, the PagerDuty Board of Directors approved the
repurchase up to an aggregate of $100 million of its common stock.
The repurchases will be made from time to time on the open market
at prevailing market prices or in negotiated transactions off the
market. The repurchase program is expected to continue through May
29, 2026 unless extended or shortened by the Board of
Directors.
Financial Outlook
For the second quarter of fiscal 2025, PagerDuty currently
expects:
- Total revenue of $115.5 million - $117.5 million, representing
a growth rate of 7% - 9% year over year
- Non-GAAP net income per diluted share attributable to
PagerDuty, Inc. common stockholders of $0.16 - $0.17 assuming
approximately 97 million diluted shares and a non-GAAP tax rate of
23%.
For the full fiscal year 2025, PagerDuty currently
expects:
- Total revenue of $471.0 million - $477.0 million, representing
a growth rate of 9% - 11% year over year
- Non-GAAP net income per diluted share attributable to
PagerDuty, Inc. common stockholders of $0.66 - $0.71 assuming
approximately 97 million diluted shares and a non-GAAP tax rate of
23%.
These statements are forward-looking and actual results may
differ materially. Please refer to the Forward-Looking Statements
section below for information on the factors that could cause our
actual results to differ materially from these forward-looking
statements.
PagerDuty 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. Accordingly, a
reconciliation for forward-looking non-GAAP net income (loss) per
share attributable to PagerDuty, Inc. common stockholders is not
available without unreasonable effort.
Conference Call Information:
PagerDuty will host a conference call and live webcast for
analysts and investors at 2:00 p.m. Pacific Time on May 30, 2024.
This news release with the financial results will be accessible
from PagerDuty’s website at investor.pagerduty.com prior to the
conference call. A live webcast of the conference call will be
accessible from the PagerDuty investor relations website at
investor.pagerduty.com.
Supplemental Financial and Other Information:
Supplemental financial and other information can be accessed
through PagerDuty’s investor relations website at
investor.pagerduty.com. PagerDuty uses the investor relations
section on its website as the means of complying with its
disclosure obligations under Regulation FD. Accordingly, we
recommend that investors monitor PagerDuty’s investor relations
website in addition to following PagerDuty’s press releases, SEC
filings, social media, including PagerDuty’s LinkedIn account
(https://www.linkedin.com/company/482819), X (formerly Twitter)
account @pagerduty, the X account @jenntejada and Facebook page
(facebook.com/pagerduty), and public conference calls and
webcasts.
Non-GAAP Financial Measures:
This press release and the accompanying tables contain the
following non-GAAP financial measures: non-GAAP gross profit,
non-GAAP gross margin, non-GAAP research and development, non-GAAP
sales and marketing, non-GAAP general and administrative, non-GAAP
operating income (loss), non-GAAP operating margin, non-GAAP net
income (loss) attributable to PagerDuty, Inc. common stockholders,
non-GAAP net income (loss) per share attributable to PagerDuty,
Inc. common stockholders, and free cash flow.
PagerDuty believes that non-GAAP financial measures, when taken
collectively, may be helpful to investors because they provide
consistency and comparability with past financial performance and
can assist in comparisons with other companies, some of which use
similar non-GAAP financial measures to supplement their GAAP
results. The non-GAAP financial information is presented for
supplemental informational purposes only, should not be considered
a substitute for financial information presented in accordance with
GAAP, and may be different from similarly-titled non-GAAP measures
used by other companies.
The principal limitation of these non-GAAP financial measures is
that they exclude significant expenses and income that are required
by GAAP to be recorded in PagerDuty’s financial statements. In
addition, they are subject to inherent limitations as they reflect
the exercise of judgment by PagerDuty’s management about which
expenses and income are excluded or included in determining these
non-GAAP financial measures. A reconciliation is provided below for
each historical non-GAAP financial measure to the most directly
comparable financial measure presented in accordance with GAAP.
Specifically, PagerDuty excludes the following from its
historical and prospective non-GAAP financial measures, as
applicable:
Stock-based Compensation: PagerDuty utilizes stock-based
compensation to attract and retain employees. It is principally
aimed at aligning their interests with those of its stockholders
and at long-term retention, rather than to address operational
performance for any particular period. As a result, stock-based
compensation expenses vary for reasons that are generally unrelated
to financial and operational performance in any particular
period.
Employer Taxes Related to Employee Stock Transactions: PagerDuty
views the amount of employer taxes related to its employee stock
transactions as an expense that is dependent on its stock price,
employee exercise and other award disposition activity, and other
factors that are beyond PagerDuty’s control. As a result, employer
taxes related to employee stock transactions vary for reasons that
are generally unrelated to financial and operational performance in
any particular period.
Amortization of Acquired Intangible Assets: PagerDuty views
amortization of acquired intangible assets as items arising from
pre-acquisition activities determined at the time of an
acquisition. While these intangible assets are evaluated for
impairment regularly, amortization of the cost of purchased
intangibles is an expense that is not typically affected by
operations during any particular period.
Acquisition-Related Expenses: PagerDuty views
acquisition-related expenses, such as transaction costs,
acquisition-related retention payments, and acquisition-related
asset impairment, as events that are not necessarily reflective of
operational performance during a period. In particular, PagerDuty
believes the consideration of measures that exclude such expenses
can assist in the comparison of operational performance in
different periods which may or may not include such expenses.
Amortization of Debt Issuance Costs: The imputed interest rates
of the Convertible Senior Notes (the "Notes") was approximately
1.91% for the 2025 Notes and 2.13% for the 2028 Notes. This is a
result of the debt issuance costs, which reduce the carrying value
of the convertible debt instruments. The debt issuance costs are
amortized as interest expense. The expense for the amortization of
the debt issuance costs is a non-cash item, and we believe the
exclusion of this interest expense will provide for a more useful
comparison of our operational performance in different periods.
Restructuring Costs: PagerDuty views restructuring costs, such
as employee severance-related costs and real estate impairment
costs, as events that are not necessarily reflective of operational
performance during a period. In particular, PagerDuty believes the
consideration of measures that exclude such expenses can assist in
the comparison of operational performance in different periods
which may or may not include such expenses.
Gains (or losses) on partial extinguishment of convertible
senior notes: PagerDuty views gains (or losses) on partial
extinguishment of debt as events that are not necessarily
reflective of operational performance during a period. PagerDuty
believes that the consideration of measures that exclude such gain
(or loss) impact can assist in the comparison of operational
performance in different periods which may or may not include such
gains (or losses).
Adjustment Attributable to Redeemable Non-Controlling Interest:
PagerDuty adjusts the value of redeemable non-controlling interest
of its joint venture PagerDuty K.K. according to the operating
agreement. PagerDuty believes this adjustment is not reflective of
operational performance during a period and exclusion of such
adjustments can assist in comparison of operational performance in
different periods.
Income Tax Effects and Adjustments: Based on PagerDuty's
financial outlook for fiscal 2025, PagerDuty is utilizing a
projected non-GAAP tax rate of 23% in order to provide better
consistency across the interim reporting periods by eliminating the
impact of non-recurring and period specific items, which can vary
in size and frequency. PagerDuty's estimated tax rate on non-GAAP
income is determined annually and may be adjusted during the year
to take into account events or trends that PagerDuty believes
materially impact the estimated annual rate including, but not
limited to, significant changes resulting from tax legislation,
material changes in the geographic mix of revenue and expenses and
other significant events.
PagerDuty defines non-GAAP gross profit as gross profit adjusted
for stock-based compensation expense, employer taxes related to
employee stock transactions, amortization of acquired intangible
assets, and restructuring costs. PagerDuty defines non-GAAP gross
margin as non-GAAP gross profit as a percentage of revenue.
PagerDuty defines non-GAAP operating income (loss) as GAAP loss
from operations excluding stock-based compensation expense,
employer taxes related to employee stock transactions, amortization
of acquired intangible assets, acquisition-related expenses, and
restructuring costs. PagerDuty defines non-GAAP net income (loss)
attributable to PagerDuty, Inc. common stockholders (which is used
in calculating non-GAAP net income (loss) per share attributable to
PagerDuty, Inc. common stockholders) as GAAP net loss attributable
to PagerDuty, Inc. common stockholders excluding stock-based
compensation expense, employer taxes related to employee stock
transactions, amortization of debt issuance costs, amortization of
acquired intangible assets, acquisition-related expenses,
restructuring costs, adjustment attributable to redeemable
non-controlling interest, and income tax adjustments. There are a
number of limitations related to the use of these non-GAAP measures
as compared to GAAP operating loss and net loss, including that the
non-GAAP measures exclude stock-based compensation expense, which
has been, and will continue to be for the foreseeable future, a
significant recurring expense in PagerDuty’s business and an
important part of its compensation strategy.
PagerDuty defines free cash flow as net cash provided by (used
in) operating activities, less cash used for purchases of property
and equipment and capitalization of internal-use software costs. In
addition to the reasons stated above, PagerDuty believes that free
cash flow is useful to investors as a liquidity measure because it
measures PagerDuty’s ability to generate or use cash in excess of
its capital investments in property and equipment in order to
enhance the strength of its balance sheet and further invest in its
business and potential strategic initiatives. PagerDuty uses free
cash flow in conjunction with traditional GAAP measures as part of
its overall assessment of its liquidity, including the preparation
of PagerDuty’s annual operating budget and quarterly forecasts, to
evaluate the effectiveness of its business strategies, and to
assess its liquidity.
There are a number of limitations related to the use of free
cash flow as compared to net cash provided by (used in) operating
activities, including that free cash flow includes capital
expenditures, the benefits of which are realized in periods
subsequent to those when expenditures are made.
PagerDuty encourages investors to review the related GAAP
financial measures and the reconciliation of these non-GAAP
financial measures to their most directly comparable GAAP financial
measures, which it includes in press releases announcing quarterly
financial results, including this press release, and not to rely on
any single financial measure to evaluate PagerDuty’s business.
Please see the reconciliation tables at the end of this release
for the reconciliation of GAAP and non-GAAP results.
Forward-Looking Statements:
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding our future financial performance and
outlook and market positioning. Words such as “expect,” “extend,”
“anticipate,” “should,” “believe,” “hope,” “target,” “project,”
“accelerate,” “goals,” “estimate,” “potential,” “predict,” “may,”
“will,” “might,” “could,” “intend,” “shall” and variations of these
terms or the negative of these terms and similar expressions are
intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control. Our actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to, risks and other
factors detailed in our Annual Report on Form 10-K/A filed with the
Securities and Exchange Commission (SEC) on March 18, 2024.
Additional information will be made available in our Quarterly
Report on Form 10-Q for the quarter ended April 30, 2024 and other
filings and reports that we may file from time to time with the
SEC. In particular, the following risks and uncertainties, among
others, could cause results to differ materially from those
expressed or implied by such forward-looking statements: the effect
of unfavorable conditions in our industry or the global economy, or
reductions in information spending on our business and results of
operations; our ability to achieve and maintain future
profitability; our ability to attract new customers and retain and
sell additional functionality and services to our existing
customers; our ability to sustain and manage our growth; our
dependence on revenue from a single product; our ability to compete
effectively in an increasingly competitive market; and general
global market, political, economic, and business conditions.
Past performance is not necessarily indicative of future
results. The forward-looking statements included in this press
release represent our views as of the date of this press release.
We anticipate that subsequent events and developments will cause
our views to change. We undertake no intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
About PagerDuty Inc.
PagerDuty, Inc. (NYSE:PD) is a global leader in digital
operations management, enabling customers to achieve operational
efficiency at scale with the PagerDuty Operations Cloud. The
PagerDuty Operations Cloud combines AIOps, Automation, Customer
Service Operations and Incident Management with a powerful
generative AI assistant to create a flexible, resilient and
scalable platform to increase innovation velocity, grow revenue,
reduce cost, and mitigate the risk of operational failure. More
than half of the Fortune 500 and nearly 70% of the Fortune 100 rely
on PagerDuty as essential infrastructure for the modern enterprise.
To learn more and try PagerDuty for free, visit
www.pagerduty.com.
PagerDuty, Inc.
Condensed Consolidated
Statements of Operations
(in thousands, except per share
data)
(unaudited)
Three Months Ended April
30,
2024
2023
Revenue
$
111,172
$
103,246
Cost of revenue(1)
19,343
17,936
Gross profit
91,829
85,310
Operating expenses:
Research and development(1)
37,523
33,508
Sales and marketing(1)
48,499
43,801
General and administrative(1)
27,540
23,801
Total operating expenses
113,562
101,110
Loss from operations
(21,733
)
(15,800
)
Interest income
6,980
4,203
Interest expense
(2,148
)
(1,334
)
Other expense, net
(251
)
(13
)
Loss before (provision for) benefit from
income taxes
(17,152
)
(12,944
)
(Provision for) benefit from income
taxes
(193
)
106
Net loss
$
(17,345
)
$
(12,838
)
Net loss attributable to redeemable
non-controlling interest
(206
)
(620
)
Net loss attributable to PagerDuty,
Inc.
$
(17,139
)
$
(12,218
)
Adjustment attributable to redeemable
non-controlling interest
6,917
—
Net loss attributable to PagerDuty, Inc.
common stockholders
$
(24,056
)
$
(12,218
)
Net loss per share, basic and diluted,
attributable to PagerDuty, Inc. common stockholders
$
(0.26
)
$
(0.13
)
Weighted average shares used in
calculating net loss per share, basic and diluted
92,876
91,522
(1) Includes stock-based compensation
expense as follows:
Three Months Ended April
30,
2024
2023
Cost of revenue
$
1,756
$
1,876
Research and development
11,222
10,101
Sales and marketing
7,947
5,951
General and administrative
12,015
9,617
Total
$
32,940
$
27,545
PagerDuty, Inc.
Condensed Consolidated Balance
Sheets
(in thousands)
(unaudited)
As of April 30, 2024
As of January 31, 2024
Assets
Current assets:
Cash and cash equivalents
$
382,541
$
363,011
Investments
210,242
208,178
Accounts receivable, net of allowance for
credit losses of $1,142 and $1,382 as of April 30, 2024 and January
31, 2024, respectively
77,536
100,413
Deferred contract costs, current
19,612
19,502
Prepaid expenses and other current
assets
17,045
12,094
Total current assets
706,976
703,198
Property and equipment, net
17,400
17,632
Deferred contract costs, non-current
24,532
25,118
Lease right-of-use assets
2,943
3,789
Goodwill
137,401
137,401
Intangible assets, net
29,467
32,616
Other assets
5,324
5,552
Total assets
$
924,043
$
925,306
Liabilities, redeemable non-controlling
interest, and stockholders’ equity
Current liabilities:
Accounts payable
$
6,558
$
6,242
Accrued expenses and other current
liabilities
12,893
15,472
Accrued compensation
28,609
30,239
Deferred revenue, current
219,571
223,522
Lease liabilities, current
5,498
6,180
Total current liabilities
273,129
281,655
Convertible senior notes, net
448,667
448,030
Deferred revenue, non-current
4,022
4,639
Lease liabilities, non-current
5,979
6,809
Other liabilities
4,209
5,280
Total liabilities
736,006
746,413
Redeemable non-controlling interest
14,004
7,293
Stockholders’ equity:
Common stock
—
—
Additional paid-in-capital
794,842
774,768
Accumulated other comprehensive loss
(1,235
)
(733
)
Accumulated deficit
(569,574
)
(552,435
)
Treasury stock
(50,000
)
(50,000
)
Total stockholders’ equity
174,033
171,600
Total liabilities, redeemable
non-controlling interest, and stockholders’ equity
$
924,043
$
925,306
PagerDuty, Inc.
Condensed Consolidated
Statements of Cash Flows
(in thousands) (unaudited)
Three Months Ended April
30,
2024
2023
Cash flows from operating
activities
Net loss attributable to PagerDuty, Inc.
common stockholders
$
(24,056
)
$
(12,218
)
Net loss and adjustment attributable to
redeemable non-controlling interest
6,711
(620
)
Net loss
(17,345
)
(12,838
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
5,292
4,725
Amortization of deferred contract
costs
5,279
4,990
Amortization of debt issuance costs
608
455
Stock-based compensation
32,940
27,545
Non-cash lease expense
846
1,176
Other
(1,302
)
(852
)
Changes in operating assets and
liabilities:
Accounts receivable
22,716
30,003
Deferred contract costs
(4,805
)
(3,372
)
Prepaid expenses and other assets
(4,813
)
(2,207
)
Accounts payable
268
(1,206
)
Accrued expenses and other liabilities
(3,435
)
(244
)
Accrued compensation
(1,667
)
(17,286
)
Deferred revenue
(4,423
)
(7,246
)
Lease liabilities
(1,512
)
(1,491
)
Net cash provided by operating
activities
28,647
22,152
Cash flows from investing
activities
Purchases of property and equipment
(457
)
(235
)
Capitalization of internal-use software
costs
(1,092
)
(1,072
)
Purchases of available-for-sale
investments
(50,065
)
(39,085
)
Proceeds from maturities of
available-for-sale investments
46,556
48,955
Proceeds from sales of available-for-sale
investments
2,237
—
Net cash (used in) provided by
investing activities
(2,821
)
8,563
Cash flows from financing
activities
Proceeds from issuance of common stock
upon exercise of stock options
291
4,751
Employee payroll taxes paid related to net
share settlement of restricted stock units
(6,552
)
(8,820
)
Net cash used in financing
activities
(6,261
)
(4,069
)
Effects of foreign currency exchange rates
on cash, cash equivalents, and restricted cash
(115
)
(60
)
Net increase in cash, cash equivalents,
and restricted cash
19,450
26,586
Cash, cash equivalents, and restricted
cash at beginning of period
366,667
274,019
Cash, cash equivalents, and restricted
cash at end of period
$
386,117
$
300,605
PagerDuty, Inc.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(in thousands, except
percentages)
(unaudited)
Three Months Ended April
30,
2024
2023
Reconciliation of gross profit and
gross margin
GAAP gross profit
$
91,829
$
85,310
Plus: Stock-based compensation
1,756
1,876
Plus: Employer taxes related to employee
stock transactions
44
72
Plus: Amortization of acquired intangible
assets
2,407
2,087
Plus: Restructuring costs
—
137
Non-GAAP gross profit
$
96,036
$
89,482
GAAP gross margin
82.6
%
82.6
%
Non-GAAP adjustments
3.8
%
4.1
%
Non-GAAP gross margin
86.4
%
86.7
%
Reconciliation of operating
expenses
GAAP research and development
$
37,523
$
33,508
Less: Stock-based compensation
(11,222
)
(10,101
)
Less: Employer taxes related to employee
stock transactions
(282
)
(517
)
Less: Acquisition-related expenses
(295
)
(161
)
Less: Amortization of acquired intangible
assets
(87
)
(87
)
Less: Restructuring costs
—
3
Non-GAAP research and development
$
25,637
$
22,645
GAAP sales and marketing
$
48,499
$
43,801
Less: Stock-based compensation
(7,947
)
(5,951
)
Less: Employer taxes related to employee
stock transactions
(190
)
(267
)
Less: Amortization of acquired intangible
assets
(632
)
(610
)
Less: Restructuring costs
—
104
Non-GAAP sales and marketing
$
39,730
$
37,077
GAAP general and administrative
$
27,540
$
23,801
Less: Stock-based compensation
(12,015
)
(9,617
)
Less: Employer taxes related to employee
stock transactions
(187
)
(341
)
Less: Acquisition-related expenses
32
—
Less: Amortization of acquired intangible
assets
(22
)
(22
)
Less: Restructuring costs
(8
)
(114
)
Non-GAAP general and administrative
$
15,340
$
13,707
Note: Certain figures may not sum due to rounding.
PagerDuty, Inc.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(in thousands, except percentages
and per share data)
(unaudited)
Three Months Ended April
30,
2024
2023
Reconciliation of operating income
(loss) and operating margin
GAAP operating loss
$
(21,733
)
$
(15,800
)
Plus: Stock-based compensation
32,940
27,545
Plus: Employer taxes related to employee
stock transactions
703
1,197
Plus: Amortization of acquired intangible
assets
3,148
2,806
Plus: Acquisition-related expenses
263
161
Plus: Restructuring costs
8
144
Non-GAAP operating income (loss)
$
15,329
$
16,053
GAAP operating margin
(19.5
)%
(15.3
)%
Non-GAAP adjustments
33.3
%
30.8
%
Non-GAAP operating margin
13.8
%
15.5
%
Reconciliation of net income
(loss)
GAAP net loss attributable to PagerDuty,
Inc. common stockholders
$
(24,056
)
$
(12,218
)
Plus: Stock-based compensation
32,940
27,545
Plus: Employer taxes related to employee
stock transactions
703
1,197
Plus: Amortization of debt issuance
costs
608
455
Plus: Amortization of acquired intangible
assets
3,148
2,806
Plus: Acquisition-related expenses
263
161
Plus: Restructuring costs
8
144
Plus: Adjustment attributable to
redeemable non-controlling interest
6,917
—
Less: Income tax effects and
adjustments
(4,526
)
(792
)
Non-GAAP net income attributable to
PagerDuty, Inc. common stockholders
$
16,005
$
19,298
Reconciliation of net income (loss) per
share, basic
GAAP net loss per share, basic,
attributable to PagerDuty, Inc. common stockholders
$
(0.26
)
$
(0.13
)
Non-GAAP adjustments to net loss
attributable to PagerDuty, Inc. common stockholders
0.43
0.34
Non-GAAP net income per share, basic,
attributable to PagerDuty, Inc. common stockholders
$
0.17
$
0.21
Reconciliation of net income (loss) per
share, diluted(1)
GAAP net loss per share, diluted,
attributable to PagerDuty, Inc. common stockholders
$
(0.26
)
$
(0.13
)
Non-GAAP adjustments to net loss
attributable to PagerDuty, Inc. common stockholders
0.43
0.33
Non-GAAP net income per share, diluted,
attributable to PagerDuty, Inc. common stockholders
$
0.17
$
0.20
Weighted-average shares used in
calculating GAAP net loss per share, basic and diluted
92,876
91,522
Weighted-average shares used in
calculating non-GAAP net income per share
Basic
92,876
91,522
Diluted
96,104
103,431
Note: Certain figures may not sum due to
rounding.
(1) On October 13, 2023, the Company
provided written notice to the trustee and the note holders of the
2025 Notes that it had irrevocably elected to settle the principal
amount of its convertible senior notes in cash and pay or deliver,
as the case may be, cash, shares of common stock or a combination
of cash and shares of common stock, at the Company’s election, in
respect to the remainder, if any, of the Company’s conversion
obligation in excess of the aggregate principal amount of the 2025
Notes being converted. The company uses the if-converted method to
calculate the non-GAAP net income per diluted share attributable to
PagerDuty, Inc. related to the convertible notes due 2025 prior to
the election on October 13, 2023. As such, approximately 7.2
million shares related to the convertible notes due 2025 were
included in the non-GAAP diluted outstanding share number for the
three months ended April 30, 2023, related to the period prior to
the election on October 13, 2023. Similarly, the numerator used to
compute this measure was increased by $0.9 million for after-tax
interest expense savings related to our convertible notes for the
three months ended April 30, 2023.
PagerDuty, Inc.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(in thousands, except
percentages)
(unaudited)
Free Cash Flow
Three Months Ended April
30,
2024
2023
Net cash provided by operating
activities
28,647
22,152
Less:
Purchases of property and equipment
(457
)
(235
)
Capitalization of internal-use software
costs
(1,092
)
(1,072
)
Free cash flow
$
27,098
$
20,845
Net cash (used in) provided by investing
activities
$
(2,821
)
$
8,563
Net cash used in financing activities
$
(6,261
)
$
(4,069
)
Free cash flow margin
24.4
%
20.2
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240530180234/en/
Investor Relations Contact: Tony Righetti
investor@pagerduty.com
Press Contact: Debbie O'Brien media@pagerduty.com
SOURCE PagerDuty
PagerDuty (NYSE:PD)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
PagerDuty (NYSE:PD)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024