PagerDuty Inc · Q1 2023 earnings

Briefing

PagerDuty's revenue accelerated, customer base expanded, and commitment to profitability was reaffirmed.

PagerDuty's first quarter fiscal 2023 shows strong revenue growth of 34% year over year, reaching $85.4 million. The company is focused on achieving profitability in Q4 FY23 and for the full year FY24, and has raised its full year top and bottom line guidance.

• Revenue increased by 34.3% year over year, totaling $85.4 million.
• The company recorded a GAAP operating loss of $32.5 million, with a non-GAAP operating loss of $2.3 million.
• Total paid customers reached 15,040, compared to 13,918 in the same period last year.
• The dollar-based net retention rate was 126%, compared to 121% in the previous year.

Headline financials

Revenue & EPS history

For the second quarter of fiscal 2023, PagerDuty expects total revenue of $87.0 million - $89.0 million, representing a growth rate of 29% - 32% year over year. Non-GAAP net loss per share is expected to be $0.09 - $0.08 assuming approximately 88 million shares. For the full fiscal year 2023, PagerDuty expects total revenue of $364.0 million - $369.0 million, representing a growth rate of 29% - 31% year over year and Non-GAAP net loss per share of $0.21 - $0.17 assuming approximately 89 million shares.