PagerDuty, Inc. has recently released its 10-Q report, providing a detailed look into the company's financial performance and operations. PagerDuty operates a digital operations management platform, collecting data and digital signals from various software-enabled systems and devices, leveraging machine learning to correlate, process, and predict opportunities and issues. The company's platform includes incident management, AIOps, process automation, and customer service operations, serving industries such as software and technology, telecommunications, retail, travel and hospitality, media and entertainment, and financial services.
In the 10-Q report, PagerDuty highlights its financial condition and results of operations. The company's revenue for the three months ended October 31, 2024, was $118,946, representing a 9.4% increase from the same period in 2023. The company's gross margin for the same period was 83.0%, reflecting a slight increase from 81.9% in 2023. PagerDuty's operating expenses for research and development, sales and marketing, and general and administrative showed minimal changes compared to the previous year.
PagerDuty's key business metrics include the number of customers and the dollar-based net retention rate. As of October 31, 2024, the company had 15,050 customers, with 825 customers having greater than $100.0 thousand in annual recurring revenue. The dollar-based net retention rate for all customers was 107% for the last 12 months ended October 31, 2024, compared to 110% for the same period in 2023.
The company generates revenue primarily from cloud-hosted subscription fees and term-license software subscription fees. Revenue increased primarily due to growth from existing customers, driven by an increase in the number of users and upsell of additional products and services. Additionally, PagerDuty's cost of revenue increased by 2.9% primarily due to various factors, including amortization of internally developed software and personnel costs.
PagerDuty's 10-Q report provides a comprehensive overview of the company's financial performance and business operations, showcasing its continued growth and strategic focus on serving enterprise customers. Following these announcements, the company's shares moved 0.5%, and are now trading at a price of $21.01. If you want to know more, read the company's complete 10-Q report here.
