Zinger Key Points
- PagerDuty's Q4 FY24 revenue increased by 10.1% Y/Y, exceeding consensus estimates, driven by a 10% growth in annual recurring revenue (ARR).
- PagerDuty reported solid non-GAAP operating income of $11.0 million with a margin of 9.9%, along with non-GAAP EPS of $0.17.
PagerDuty, Inc. PD shares are trading lower after the company reported fourth-quarter FY24 results.
Revenue rose 10.1% Y/Y to $111.1 million, beating the consensus of $110.4 million.
Annual recurring revenue (ARR) grew 10% Y/Y to $451.9 million. As of January 31, 2024, total paid customers came in at 15,039 vs. 15,244 the prior year quarter.
Non-GAAP operating income stood at $11.0 million, with a margin of 9.9%. Non-GAAP EPS of $0.17 beat the consensus of $0.15.
Operating cash flow stood at $22.2 million and free cash flow of $19.6 million.
As of January 31, 2024, cash, cash equivalents, and current investments stood at $571.2 million.
Outlook: For the first quarter, the company expects revenue of $110.5 million-$112.5 million (up 7% – 9% Y/Y) vs. the consensus of $113.4 million and adjusted EPS of $0.12 – $0.13 vs. street view of $0.18.
For FY25, PagerDuty sees revenue of $470.0 million-$478.0 million vs. street view of $480.67 million and adjusted EPS of $0.65-$0.70 vs. $0.82 consensus.
Price Action: PD shares are down 8.46% at $20.99 premarket on the last check Friday.
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