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PagerDuty Stock Slumps On Mixed Q2 Results: The Details
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PagerDuty Stock Slumps On Mixed Q2 Results: The Details
Sep 4, 2024 10:37 AM

PagerDuty Inc ( PD ) shares are trading lower in Tuesday’s after-hours session after the company reported mixed financial results for the second quarter. Here’s a rundown of the print.

Q2 Revenue: $115.9 million, versus estimates of $116.48 million

Q2 EPS: 21 cents, versus estimates of 17 cents

Total revenue was up 7.7% year-over-year. Net cash from operations totaled $35.8 million and free cash flow came in at $33.3 million in the second quarter.

Free and paid customers totaled more than 29,000 at the quarter’s end. Total customers with annual recurring revenue over $100,000 grew 6% to 820 as of July 31.

PagerDuty ( PD ) ended the period with $599.3 million in cash, cash equivalents and investments.

“PagerDuty delivered a solid second quarter with revenue growth within our guidance range, a non-GAAP operating margin four points above the range, and our eighth consecutive quarter of non-GAAP profitability,” said Jennifer Tejada, chairperson and CEO of PagerDuty ( PD ).

“We remain confident in ARR growth acceleration as global outages reinforce that incident management has become a CEO priority.”

See Also: Nvidia Stock Loses The Value Of McDonald’s, Disney, Coinbase Combined Since Q2 Earnings: AI Darling’s Decline Continues Tuesday

Outlook: PagerDuty ( PD ) expects third-quarter revenue to be in the range of $115.5 million to $117.5 million versus estimates of $116.5 million. The company sees third-quarter adjusted earnings in the range of 16 cents to 17 cents per share versus estimates of 17 cents per share, per Benzinga Pro.

Management will hold a conference call at 5 p.m. ET to discuss PagerDuty’s second-quarter performance.

PD Price Action: PagerDuty ( PD ) shares were down 12.68% after hours at $15.97 at the time of publication Tuesday, according to Benzinga Pro.

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