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PagerDuty Announces First Quarter Fiscal Year 2020 Financial Results
 
Revenue accelerates to 49% year-over-year growth to a record $37.3 million
Over 11,600 customers now using PagerDuty to power their digital transformations
Best in class gross margins above 85%
 
SAN FRANCISCO – (BUSINESS WIRE) – June 6, 2019 – PagerDuty, Inc. (NYSE:PD), a global leader in digital operations management, today announced financial results for the
first quarter of fiscal year 2020 ended April 30, 2019.
 
“We are pleased to report strong Q1 results in our first quarter as a public company, with revenue accelerating to 49% year-over-year growth and best-in-class gross margins above 85%,” said Jennifer Tejada, Chief Executive Officer of PagerDuty. “We continued to see growing demand across industry verticals and customer segments, especially the enterprise segment. Our existing customers are expanding their use of PagerDuty, adding teams and adopting new products like Event Intelligence and Analytics that enable a more proactive approach to digital operations. With our community applying PagerDuty to new use cases every day, we are just scratching the surface of the potential for our business.”

First Quarter Fiscal 2020 Financial Highlights

Revenue:  Total revenue was $37.3 million, up 49% year-over-year.
Gross Margin:  GAAP gross margin was 85.3% up 80 basis points compared to the first quarter of fiscal 2019. Non-GAAP gross margin was 85.7% compared to Non-GAAP gross margin of 84.7% in the first quarter of fiscal 2019.
Operating Loss:  GAAP operating loss was $12.7 million, or 34.1% of revenue, compared to $7.0 million, or 28.0% of revenue, in the first quarter of fiscal 2019. Non-GAAP operating loss was $7.9 million, or 21.2% of revenue, compared to $3.8 million, or 15.3% of revenue, in the first quarter of fiscal 2019.
Net Loss: GAAP net loss was $12.1 million, compared to $6.6 million in the first quarter of fiscal 2019. GAAP net loss per share was $0.37, compared to $0.32 in the first quarter of fiscal 2019. Non-GAAP net loss was $7.3 million, compared to $3.4 million in the first quarter of fiscal 2019. Non-GAAP net loss per share was $0.22, compared to $0.16 in the first quarter of fiscal 2019.
Cash Flow: Net cash used in operations was $7.6 million, or 20.3% of revenue, compared to $4.3 million, or 17.2% of revenue, in the first quarter of fiscal 2019. Free cash flow was negative $8.8 million, or 23.5% of revenue, compared to negative $4.7 million, or 18.8% of revenue, in the first quarter of fiscal 2019.
Cash and Cash Equivalents were $338.0 million as of April 30, 2019.

The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures and reconciliations between historical GAAP and non-GAAP information.


The following information was filed by Pagerduty, Inc. (PD) on Thursday, June 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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