PagerDuty, Inc.'s earnings call highlighted significant achievements including achieving GAAP profitability, strong international growth, and substantial traction in the AI-native segment. These positive developments were tempered by challenges such as elevated churn, downgrades, and inconsistent sales performance in North America. Overall, the company shows promising growth potential with ongoing strategic initiatives, but faces hurdles in customer retention and sales execution.

Company Guidance

During PagerDuty, Inc.'s second quarter fiscal year 2026 call, several key metrics and guidance were provided. The company reported revenue of $123 million, marking a 6% year-over-year growth and achieved GAAP profitability for the first time. The non-GAAP operating margin reached 25%, an 800-point year-over-year expansion. Annual recurring revenue (ARR) increased to $499 million, with a 5% year-over-year growth and a dollar-based net retention rate of 102%. New and expansion bookings rose by over 15% sequentially, with net new customer additions totaling 208, nearly tripling those of the previous fiscal year. PagerDuty's high-value customer base, spending over $100,000, expanded to 868 customers. The company anticipates revenue for the third quarter to range between $124 million and $126 million, with a full fiscal year 2026 revenue expectation of between $493 million and $497 million, representing a growth rate of 5% to 6%. The net income per diluted share for the full fiscal year is projected to be between $1.00 and $1.04, with an operating margin of 21% to 22%. The company aims to achieve GAAP profitability for the full year in fiscal year 2027, with continued focus on accelerating ARR growth and expanding margins.

GAAP Profitability Achieved

PagerDuty, Inc. achieved GAAP profitability for the first time in the company's history in Q2 FY2026, with a non-GAAP operating margin reaching 25%, exceeding guidance and showing an 800-point year-over-year expansion.

Strong International Performance

International revenue increased 12% annually, contributing 29% of total revenue, and surpassed targets, indicating strong global demand and improved sales execution.

Growth in High-Value Customer Base

The number of customers spending over $100,000 annually increased to 868, rising by 20 customers sequentially and 48 year over year, reflecting successful expansion in the high-value customer segment.

AI-Native Ecosystem Traction

Native AI leaders now contribute 2% of total ARR and are growing rapidly, with over half of the Fortune 50 AI companies using PagerDuty, Inc.'s platform, validating the company's role in the AI ecosystem.

Innovation and Strategic Partnerships

PagerDuty, Inc. launched four new AI agents and announced a strategic partnership with Amazon Q, enhancing its ecosystem and integrating with major platforms to provide comprehensive incident management solutions.

PagerDuty (PD) Earnings, Revenues Date & History

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PD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 03, 2025	2026 (Q3)	0.25 / -	0.25	―	―	―
Sep 03, 2025	2026 (Q2)	0.20 / 0.30	0.21	42.86% (+0.09)
May 29, 2025	2026 (Q1)	0.19 / 0.24	0.17	41.18% (+0.07)
Mar 13, 2025	2025 (Q4)	0.16 / 0.22	0.17	29.41% (+0.05)
Dec 26, 2024	2025 (Q3)	0.18 / 0.25	0.2	25.00% (+0.05)	―	―
Sep 03, 2024	2025 (Q2)	0.18 / 0.21	0.19	10.53% (+0.02)
May 30, 2024	2025 (Q1)	0.13 / 0.17	0.2	-15.00% (-0.03)
Mar 14, 2024	2024 (Q4)	0.15 / 0.17	0.08	112.50% (+0.09)
Nov 30, 2023	2024 (Q3)	0.14 / 0.20	0.04	400.00% (+0.16)
Aug 31, 2023	2024 (Q2)	0.11 / 0.19	-0.04	575.00% (+0.23)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

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Missed

PD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 03, 2025	$15.59	$16.57	+6.29%
May 29, 2025	$16.10	$14.26	-11.43%
Mar 13, 2025	$15.61	$18.38	+17.75%
Dec 26, 2024	$18.32	$17.83	-2.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.