PD

MKT CAP:$647M

PagerDuty, Inc.

Market Cap

$647M

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$6.58-$5.81 (-46.89%)

Apr 24, 2026

Company Details

PagerDuty, Inc. operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or devic...

CEO

Jennifer G. Tejada

IPO Date

Apr 11, 2019

Website

www.pagerduty.com

Key Metrics TTM

Revenue

$493M

+10.2% YoY

Net Income

$174M

EPS (Diluted)

$1.84

Free Cash Flow

$111M

Revenue / Share

$5.50

Gross Margin

84.9%

Operating Margin

1.2%

Net Margin

35.3%

FCF Margin

22.5%

P/S

1.3x

P/E

3.7x

Earnings Reports

FY 2026

Mar 12, 2026

$493MEPS $1.87

Q4 2026

Mar 12, 2026

$125M+2.7%EPS $0.12

Q3 2026

Nov 25, 2025

$125MEPS $1.69

Q2 2026

Sep 3, 2025

$123MEPS $0.10

Q1 2026

May 30, 2025

$120M+7.8%EPS -$0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$64M	$53M	-$21M
Q2 22	$68M	$56M	-$28M
Q3 22	$72M	$60M	-$25M
Q4 22	$79M	$65M	-$27M
Q1 23	$85M	$70M	-$32M
Q2 23	$90M	$72M	-$38M
Q3 23	$94M	$76M	-$33M
Q4 23	$101M	$83M	-$26M
Q1 24	$103M	$85M	-$16M
Q4 24	$111M	$85M	-$26M
Q1 25	$111M	$92M	-$21M
Q4 25	$121M	$101M	-$12M
Q1 26	$120M	$101M	-$10M
Q2 26	$123M	$104M	$4M
Q3 26	$125M	$106M	$8M
Q4 26	$125M	$107M	$5M

Valuation

Quarter	P/S	P/E
Q1 22	14.9x	—
Q2 22	14.6x	—
Q3 22	13.9x	—
Q4 22	10.2x	—
Q1 23	8.6x	—
Q2 23	7.2x	—
Q3 23	6.5x	—
Q4 23	7.0x	—
Q1 24	7.1x	—
Q4 24	5.5x	—
Q1 25	4.5x	—
Q4 25	3.8x	—
Q1 26	3.1x	—
Q2 26	3.3x	—
Q3 26	3.0x	9.8x
Q4 26	1.9x	5.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2M	-$350.0K
Q2 22	-$12M	-$13M
Q3 22	$3M	$2M
Q4 22	$1M	-$1M
Q1 23	-$3M	-$6M
Q2 23	$3M	$1M
Q3 23	-$448.0K	-$2M
Q4 23	$18M	$17M
Q1 24	$22M	$21M
Q4 24	$22M	$20M
Q1 25	$29M	$27M
Q4 25	$31M	$29M
Q1 26	$31M	$29M
Q2 26	$34M	$33M
Q3 26	$25M	$24M
Q4 26	$25M	$25M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$1M
Q3 22	$869.0K
Q4 22	$3M
Q1 23	$3M
Q2 23	$2M
Q3 23	$2M
Q4 23	$148.0K
Q1 24	$1M
Q4 24	$3M
Q1 25	$2M
Q4 25	$3M
Q1 26	$2M
Q2 26	$874.0K
Q3 26	$743.0K
Q4 26	$883.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+27.7%	+36.0%
Q2 22	+33.2%	+49.6%
Q3 22	+33.5%	+27.7%
Q4 22	+32.4%	+36.1%
Q1 23	+34.3%	+38.9%
Q2 23	+33.6%	+33.5%
Q3 23	+31.3%	+31.2%
Q4 23	+28.6%	+20.6%
Q1 24	+20.9%	+1.0%
Q4 24	+23.1%	+6.6%
Q1 25	+18.0%	+4.6%
Q4 25	+20.3%	+4.5%
Q1 26	+16.0%	+9.3%
Q2 26	+11.1%	-12.3%
Q3 26	+12.0%	-12.2%
Q4 26	+2.7%	-9.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$14M	21.4%
Q2 22	$16M	24.4%
Q3 22	$18M	24.8%
Q4 22	$22M	28.2%
Q1 23	$25M	29.2%
Q2 23	$30M	33.4%
Q3 23	$31M	33.4%
Q4 23	$23M	23.2%
Q1 24	$28M	26.7%
Q4 24	$32M	29.0%
Q1 25	$33M	29.6%
Q4 25	$29M	24.0%
Q1 26	$26M	21.5%
Q2 26	$0	0.0%
Q3 26	$23M	18.1%
Q4 26	$24M	18.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$21M	$17M	$37M
Q2 22	$23M	$20M	$41M
Q3 22	$25M	$20M	$40M
Q4 22	$28M	$21M	$43M
Q1 23	$31M	$25M	$46M
Q2 23	$34M	$25M	$50M
Q3 23	$35M	$27M	$47M
Q4 23	$35M	$22M	$53M
Q1 24	$34M	$24M	$44M
Q4 24	$35M	$35M	$54M
Q1 25	$37M	$28M	$48M
Q4 25	$35M	$25M	$53M
Q1 26	$34M	$27M	$50M
Q2 26	$31M	$25M	$44M
Q3 26	$29M	$24M	$44M
Q4 26	$33M	$25M	$45M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	27.7%	-30.0%	-2.3
Q2 22	33.2%	-38.8%	-5.6
Q3 22	33.5%	-32.3%	1.2
Q4 22	32.4%	-30.6%	1.8
Q1 23	34.3%	-34.1%	0.2
Q2 23	33.6%	-36.8%	-3.1
Q3 23	31.3%	-29.8%	1.5
Q4 23	28.6%	-18.8%	9.8
Q1 24	20.9%	-5.5%	15.4
Q4 24	23.1%	-14.3%	8.8
Q1 25	18.0%	-8.7%	9.3
Q4 25	20.3%	-1.4%	18.9
Q1 26	16.0%	-0.2%	15.8
Q2 26	11.1%	10.5%	21.6
Q3 26	12.0%	15.3%	27.4
Q4 26	2.7%	6.1%	8.8

Rule of 40

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$16M	$48M
Q2 22	$17M	$51M
Q3 22	$17M	$54M
Q4 22	$19M	$60M
Q1 23	$21M	$65M
Q2 23	$21M	$69M
Q3 23	$22M	$72M
Q4 23	$24M	$77M
Q1 24	$28M	$75M
Q4 24	$32M	$80M
Q1 25	$30M	$81M
Q4 25	$35M	$87M
Q1 26	$34M	$86M
Q2 26	$35M	$88M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$274M	$194M	$467M
Q2 23	$278M	$192M	$471M
Q3 23	$262M	$197M	$459M
Q4 23	$274M	$203M	$477M
Q1 24	$301M	$195M	$495M
Q2 24	$299M	$206M	$504M
Q3 24	$380M	$195M	$575M
Q4 24	$361M	$210M	$571M
Q1 25	$383M	$210M	$593M
Q2 25	$386M	$214M	$599M
Q3 25	$326M	$216M	$542M
Q4 25	$346M	$224M	$571M
Q1 26	$372M	$225M	$597M
Q2 26	$340M	$228M	$568M
Q3 26	$324M	$224M	$548M
Q4 26	$237M	$232M	$470M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	83M	+1.2%	+6.6%
Q2 22	84M	+1.2%	+6.5%
Q3 22	85M	+1.4%	+6.4%
Q4 22	86M	+1.2%	+5.1%
Q1 23	87M	+1.2%	+5.1%
Q2 23	88M	+1.2%	+5.1%
Q3 23	89M	+1.3%	+4.9%
Q4 23	90M	+1.1%	+4.8%
Q1 24	92M	+1.4%	+5.0%
Q4 24	92M	+0.7%	+4.6%
Q1 25	93M	+0.8%	+4.0%
Q4 25	92M	-0.9%	+1.9%
Q1 26	91M	-0.7%	-0.2%
Q2 26	94M	+3.1%	+2.2%
Q3 26	94M	-0.0%	+1.4%
Q4 26	90M	-4.9%	-2.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$81.2K	783
Q2 22	$86.3K	783
Q3 22	$91.6K	783
Q4 22	$82.6K	950
Q1 23	$89.9K	950
Q2 23	$95.0K	950
Q3 23	$99.2K	950
Q4 23	$86.6K	1K
Q1 24	$88.5K	1K
Q4 24	$94.0K	1K
Q1 25	$94.1K	1K
Q4 25	$97.8K	1K
Q1 26	$96.5K	1K
Q2 26	$99.4K	1K
Q3 26	$100.3K	1K
Q4 26	$108.0K	1K

Revenue / Employee