PD Q3 2026 Earnings
Reported Nov 25, 2025 at 4:09 PM ET · SEC Source
Q3 26 EPS
$0.33
BEAT +35.02%
Est. $0.24
Q3 26 Revenue
$124.5M
MISS 0.25%
Est. $124.9M
vs S&P Since Q3 26
-46.3%
TRAILING MARKET
PD -38.5% vs S&P +7.9%
Market Reaction
Did PD Beat Earnings? Q3 2026 Results
PagerDuty delivered a sharply split Q3 FY2026 report, posting a substantial earnings beat against a modest revenue miss that left investors weighing profitability progress against slowing top-line momentum. Non-GAAP diluted EPS of $0.33 cleared the $… Read more PagerDuty delivered a sharply split Q3 FY2026 report, posting a substantial earnings beat against a modest revenue miss that left investors weighing profitability progress against slowing top-line momentum. Non-GAAP diluted EPS of $0.33 cleared the $0.24 consensus estimate by 35.02%, powered by a dramatic expansion in non-GAAP operating margin to 28.5% from 21.0% a year ago, as stock-based compensation fell to $22.57 million from $31.77 million and total operating expenses dropped to $98.11 million from $108.97 million. Revenue of $124.55 million grew 4.7% year over year but fell just short of the $124.86 million consensus, and the company trimmed its full-year revenue outlook to $490.00 million–$492.00 million while simultaneously raising its non-GAAP EPS guidance to $1.11–$1.12, underscoring a clear pivot toward margin over growth. A declining dollar-based net retention rate of 100%, down from 107% a year ago, triggered significant investor concern after the print, with the stock falling sharply as securities fraud investigations were announced in its wake.
Key Takeaways
- • Disciplined execution and continued margin expansion driving GAAP profitability
- • Significant reduction in stock-based compensation expense from $31.8M to $22.6M YoY
- • Operating expense reduction from $109.0M to $98.1M YoY
- • Non-GAAP operating margin expansion to 28.5% from 21.0% YoY
- • Gross margin improvement to 85.3% from 83.0% YoY
PD YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
“PagerDuty delivered $125 million in revenue and our second consecutive quarter of GAAP profitability, reflecting disciplined execution and continued margin expansion.”
— Jennifer Tejada, Q3 2026 Earnings Press Release
PD Earnings Trends
PD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PD EPS Trend
Earnings per share: estimate vs actual
PD Revenue Trend
Quarterly revenue: estimate vs actual
PD Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.25 | $0.32 | +29.14% | $121.0M | +1.34% |
| Q4 26 BEAT FY | $0.25 | $0.29 | +16.51% | $124.8M | +1.48% |
| FY Full Year | — | $1.16 | — | $492.5M | — |
| Q3 26 BEAT | $0.24 | $0.33 | +35.02% | $124.5M | -0.25% |
| Q2 26 BEAT | $0.20 | $0.30 | +49.25% | $123.4M | -0.09% |