Companies /Technology

Pagerduty Inc

NYSE: PD Software - Application
$13.77
▼ $0.27 (−1.92%) today
Markets closed · 6:28am ET

Q2 2026 Earnings

Reported Sep 3, 2025, 4:08pm ET · SEC source
$0.30
Beat +49.25%
EPS · est. $0.20
$123.4M
Miss −0.09%
Revenue · est. $123.5M
−7.0%
Trailing market
PD vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%+8%Sep 3Sep 4report 4:08pm ETearnings+0.9%+8.0%
−4%0+4%+8%Sep 3Sep 4earnings+0.9%+8.0%
PD +8.0%S&P 500 +0.9%
−4%0+4%+8%Sep 3Sep 4report 4:08pm ETearnings+1.1%+8.0%
−4%0+4%+8%Sep 3Sep 4earnings+1.1%+8.0%
PD +8.0%NASDAQ +1.1%
0+5%+10%+15%Sep 2Sep 11report 4:08pm ETearnings+2.1%+11.0%
0+5%+10%+15%Sep 2Sep 11earnings+2.1%+11.0%
PD +11.0%S&P 500 +2.1%
0+5%+10%+15%Sep 2Sep 11report 4:08pm ETearnings+2.4%+11.0%
0+5%+10%+15%Sep 2Sep 11earnings+2.4%+11.0%
PD +11.0%NASDAQ +2.4%
+6.29%
Day of report
−0.60%
Next session
+0.06%
One week
−3.56%
30 days

S&P 500 over the same 30 days: +3.46%.

Did PD Beat Earnings? Q2 2026 Results

PagerDuty posted a headline-grabbing earnings beat in its fiscal second quarter of 2026, with non-GAAP EPS of $0.30 clearing the $0.20 consensus estimate by 49.25%, even as revenue of $123.41 million came in fractionally below the $123.52 million expectation, a miss of just 0.09%. Revenue grew 6.5% year over year, and the more compelling story was on the bottom line, where disciplined cost management drove a dramatic swing to GAAP operating income of $3.57 million from an operating loss of $16.03 million a year ago, aided in part by stock-based compensation falling to $25.96 million from $32.37 million. Annual recurring revenue reached $499 million, growing 5% year over year, while the company's deepening push into AI-powered operations drew notable customer expansions including Shopify and The Lego Group. Looking ahead, PagerDuty guided Q3 revenue to $124 to $126 million and raised its full-year non-GAAP EPS outlook to $1.00 to $1.04, even as it trimmed the top end of its revenue range, a trade-off that reflects confidence in profitability despite a measured top-line posture.

Key Takeaways
  • GAAP profitability achieved with operating income of $3.6 million vs. operating loss of $16.0 million a year ago
  • Non-GAAP operating margin expanded to 25.4% from 17.3% year over year
  • Solid growth across international markets
  • Paid customer additions outpaced last year's full-year performance
  • Customers with ARR over $100K grew 6% to 868
  • Gross margin improved to 84.6% from 82.7% year over year
  • Stock-based compensation declined significantly year over year

“PagerDuty achieved important milestones in Q2, including GAAP profitability, solid growth across international markets, and paid customer additions that have already outpaced last year's full year performance.”

PagerDuty CEO, on the earnings call

Forward Guidance & Outlook

For Q3 FY2026, PagerDuty expects revenue of $124.0 million to $126.0 million (4-6% YoY growth) and non-GAAP diluted EPS of $0.24 to $0.25. For full-year FY2026, the company expects revenue of $493.0 million to $497.0 million (5-6% growth, narrowed from prior $493-$499M range) and non-GAAP diluted EPS of $1.00 to $1.04 (raised from prior $0.95-$1.00), assuming approximately 94 million diluted shares and a 22% non-GAAP tax rate.

PD YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$40.0M$80.0M$120.0M$115.9M$123.4MRevenue$95.9M$104.4MGross Profit$1.6M$3.6MOperating Income$3.3M$9.4MNet Income
$0$40.0M$80.0M$120.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.