PagerDuty(PD) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter revenue increased 10.1% year over year to $111.1 million[1] - Total revenue for fiscal 2024 was $430.7 million, an increase of 16.2% year over year[4] - Annual recurring revenue (ARR) grew 10% year over year to $451.9 million[8] - Revenue for the three months ended January 31, 2024, was $111,117,000, representing a 10.7% increase from $100,966,000 in the same period of 2023[34] - Gross profit for the year ended January 31, 2024, was $352,867,000, up from $300,359,000 in 2023, indicating a growth of 17.5%[34] - The company achieved a GAAP gross profit of $90.8 million for the three months ended January 31, 2024, up from $82.6 million in the same period of 2023, reflecting a growth of 9.9%[40] - Non-GAAP gross profit for the same period was $94.9 million, compared to $87.0 million in 2023, indicating a year-over-year increase of 9.9%[40] Operating Loss and Income - GAAP operating loss was $33.4 million, with a GAAP operating margin of (30.1)%[4] - Non-GAAP operating income was $11.0 million, resulting in a non-GAAP operating margin of 9.9%[4] - PagerDuty reported a net loss of $30.6 million for the three months ended January 31, 2024, compared to a net loss of $24.6 million for the same period in 2023, representing a 24.5% increase in losses year-over-year[38] - GAAP operating loss for the three months ended January 31, 2024, was $33,431 thousand, compared to a loss of $26,490 thousand in the same period of 2023[42] - Non-GAAP operating income for the three months ended January 31, 2024, was $11,016 thousand, up from $6,125 thousand in the prior year, reflecting a non-GAAP operating margin of 9.9%[42] Net Income and Loss - Non-GAAP net income per diluted share for fiscal 2024 was $0.74[4] - Non-GAAP net income attributable to common stockholders for the year ended January 31, 2024, was $72,554 thousand, significantly higher than $3,694 thousand in the previous year[42] - The company reported a GAAP net loss per share, basic, of $0.89 for the year ended January 31, 2024, compared to $1.45 in 2023[42] - The company reported a non-GAAP net income per share, diluted, of $0.17 for the three months ended January 31, 2024, compared to $0.07 in the same period of 2023[42] Cash Flow and Assets - Cash and cash equivalents as of January 31, 2024, were $363,011,000, an increase from $274,019,000 in 2023, representing a growth of 32.5%[36] - Total assets as of January 31, 2024, were $925,306,000, compared to $817,873,000 in 2023, indicating a growth of 13.1%[36] - Cash flows from operating activities for the three months ended January 31, 2024, were $22.2 million, an increase from $17.6 million in the prior year, marking a 26.5% increase[38] - The company provided $22,155 thousand in net cash from operating activities for the three months ended January 31, 2024, compared to $17,572 thousand in the same period of 2023[45] Expenses - Total operating expenses for the three months ended January 31, 2024, were $124,190,000, compared to $109,112,000 in the same period of 2023, reflecting a 13.8% increase[34] - The company’s GAAP research and development expenses were $35.5 million for the three months ended January 31, 2024, compared to $34.6 million in 2023, reflecting a 2.8% increase[40] - Research and development expenses for the year ended January 31, 2024, were $139,769,000, up from $134,876,000 in 2023, indicating a 3.1% increase[34] - The company incurred acquisition-related expenses of $786 thousand for the three months ended January 31, 2024, compared to $5 thousand in the same period of 2023[42] Guidance and Projections - Total revenue guidance for Q1 fiscal 2025 is projected to be between $110.5 million and $112.5 million, representing a growth rate of 7% - 9% year over year[8] - Non-GAAP net income per diluted share guidance for Q1 fiscal 2025 is expected to be between $0.12 and $0.13[8] Acquisition - Closed on the acquisition of Jeli, Inc. on November 15, 2023, to enhance incident management solutions[8] Retention Rate - Dollar-based net retention rate was 107% as of January 31, 2024, down from 120% in the previous year[8]