PagerDuty Q3 Results Beat Street View, Lifts FY Outlook; Shares Jump 11%

Shares of PagerDuty, Inc. (PD) gained over 11% in extended session on Tuesday after it reported its third-quarter results and lifted its full year outlook.

Third-quarter net loss was $26.6 million or $0.31 per share, wider than last year’s loss of $21.0 million or $0.26 per share. Adjusted loss for the quarter was $0.07 per share, narrower than last year’s $0.08 per share.

Revenues for the quarter jumped 35% to $71.8 million from $53.8 million last year.

Analysts polled by Thomson Reuters estimated a loss of $0.09 per share on revenues of $70.04 million. Analysts’ estimates typically exclude one-time items.

Total paid customers was 14,486 as of October 31, 2021, compared to 13,725 in the year ago period. Customers with annual recurring revenue over $100,000 was 543 as of October 31, 2021, compared to 401 in the year ago period.

Commenting on the results, CEO Jennifer Tejada said, “Q3 was an outstanding quarter for PagerDuty as we delivered record revenue of $72 million and grew 33% year over year. Our product innovation continues to accelerate across use cases and departments as we empower enterprises to mature their digital operations and deliver superior customer experiences.”

Looking forward to the fourth quarter, the company expects revenues of $75.5 million to $76.5 million and adjusted loss of $0.06 to $0.05 per share. Analysts currently estimate loss of $0.08 per share on revenue of $73.67 million.

For the full fiscal year 2022, PagerDuty currently expects revenues of $278.5 million to $279.5 million and adjusted loss of $0.34 to $0.33 per share. Analysts currently estimate loss of $0.37 per share on revenues of $275.05 million.

Previously, PagerDuty expected revenues of $273.0 million to $276.0 million and adjusted loss of $0.39 to $0.35 per share for the full year.

PD closed Tuesday’s trading at $33.49, up $1.89 or 5.98%, on the NYSE. The stock further gained $3.93 or 11.73% in the after-hours trading.

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