PagerDuty(PD)2025-05-29 20:10Revenue Growth - First quarter revenue increased 8% year over year to $120 million[1] - Annual Recurring Revenue (ARR) grew 7% year over year to $496 million[1] - For the second quarter of fiscal 2026, PagerDuty expects total revenue of $122.5 million to $124.5 million, representing a growth rate of 6% to 7% year over year[13] - Revenue for the same period was $119,805 thousand, compared to $111,172 thousand in 2024, reflecting a growth of 7.3%[46] Customer Metrics - Customers with ARR over $100 thousand grew 5% to 848 as of April 30, 2025[8] - Dollar-based net retention rate was 104% as of April 30, 2025, compared to 106% a year earlier[8] - Total paid customers increased to 15,247 as of April 30, 2025, up from 15,120 a year earlier[8] Financial Performance - Non-GAAP operating income was $24 million, with a non-GAAP operating margin of 20.3%[5] - Non-GAAP operating income increased to $24,359 thousand in 2025 from $15,329 thousand in 2024, marking a significant rise of 59.5%[48] - Non-GAAP operating margin improved to 20.3% in 2025, up from 13.8% in 2024[48] - Non-GAAP net income attributable to common stockholders was $22,679 thousand in 2025, compared to $16,005 thousand in 2024, representing an increase of 41.6%[48] - The company reported a non-GAAP net income per share, basic, of $0.25 in 2025, up from $0.17 in 2024[48] Cash Flow and Assets - Net cash provided by operating activities was $30,670 thousand for the three months ended April 30, 2025, compared to $28,647 thousand for the same period in 2024, indicating a year-over-year increase of 7.07%[24] - Free cash flow for the period was positive, indicating the company's ability to generate cash in excess of capital investments, enhancing liquidity[42] - Free cash flow for the three months ended April 30, 2025, was $28,986 thousand, compared to $27,098 thousand in 2024, indicating a growth of 7.0%[50] - Total current assets increased to $713,291 thousand as of April 30, 2025, compared to $711,720 thousand on January 31, 2025, reflecting a growth of 0.22%[22] Liabilities and Equity - Total liabilities decreased to $763,806 thousand as of April 30, 2025, down from $779,221 thousand on January 31, 2025, representing a reduction of 1.84%[22] - The company reported a total stockholders' equity of $145,657 thousand as of April 30, 2025, up from $129,828 thousand on January 31, 2025, marking an increase of 12.19%[22] Deferred Revenue and Performance Obligations - Remaining performance obligations were $430 million, with approximately $302 million expected to be recognized as revenue over the next 12 months[8] - The company’s deferred revenue, current, was $237,076 thousand as of April 30, 2025, down from $243,269 thousand on January 31, 2025, a decrease of 2.54%[22] Stock-Based Compensation and Expenses - Stock-based compensation for the three months ended April 30, 2025, was $25,753 thousand, compared to $32,940 thousand in the same period of 2024, reflecting a decrease of 21.66%[24] - The company’s non-GAAP research and development expenses decreased to $22,303 thousand in 2025 from $25,637 thousand in 2024, a reduction of 13.5%[46] Compliance and Authorization - PagerDuty achieved FedRAMP Low Authorization, indicating compliance with federal security requirements[8]