PagerDuty (PD) Q4 Earnings Report Review

PagerDuty Inc (NYSE:PD) is a cloud-based digital management platform that helps enterprises manage their digital operations. Its tech solutions provide a rapid automated response to incidents in IT systems in enterprises, quickly identifying issues and solving them in real time. PagerDuty went public in April 2019 by pricing its shares at $24 apiece for total proceeds of over $200 million.

The demand for the company’s products, services, and solutions remained high during the Covid-19 pandemic, as an increasing number of businesses adopted the work-from-home system. PagerDuty stock rose more than 70 percent in 2020.

The growth is also reflected in the company’s fourth-quarter results. PagerDuty recently announced better-than-expected financial results for the three months ended January 31. It reported a loss of $22.1 million, or 27 cents per share, as compared to a loss of $10.4 million, or 14 cents per share in the year-ago quarter.

On an adjusted basis, the net loss of 7 cents per share was narrower than the loss of 11 cents per share projected by analysts. Revenue came in at $59.3 million, up 29 percent from the year-ago quarter. Analysts on average were expecting PagerDuty to post revenue of $57.5 million.

Commenting on the quarter, CEO Jennifer Tejada said in a statement, “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.”

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PagerDuty also issued its revenue outlook for the first quarter. It expects to report revenue in the range of $61 million to $63 million for the current quarter, translating to a surge of 23-27 percent on a year-over-year basis.

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