PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments. PagerDuty is headquartered in San Francisco with offices in Toronto, Atlanta, London, Lisbon, Tokyo, and Sydney. Its platform is designed to alert clients to disruptions and outages.3 Its shares trade on NYSE under the symbol PD.1Wikipedia text CC BY-SA 4.0
Where each dollar of operating cash went, fiscal 2026
Share buybacks
Capital spending2¢$2.9M
Share buybacks98¢$134.9M
Out of $114.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6
Financial statements
Revenue10111213146$492.5M in 2026+318% since 2019Gross profit10111213146$418.4M in 2026+316% since 2019Operating income10111213146$5.8M in 2026Net income10111213146$173.4M in 2026
Revenue1516$124.4M in Q2 FY2026+3% since Q1 FY2026Gross profit1516$104.4M in Q2 FY2026+2% since Q1 FY2026Operating income1516$10.2M in Q2 FY2026+11% since Q1 FY2026Net income1516$7.8M in Q2 FY2026+47% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
Revenue
$492.5M
$467.5M
$430.7M
Cost of revenue
$74.1M
$79.7M
$77.8M
Gross profit
$418.4M
$387.8M
$352.9M
Research and development
$126.9M
$141.5M
$139.8M
Sales and marketing
$184.0M
$201.8M
$196.8M
General and administrative
$101.6M
$104.3M
$112.6M
Total operating expenses
$412.6M
$447.6M
$449.1M
Income (loss) from operations
$5.8M
-$59.8M
-$96.2M
Interest income
$22.7M
$27.5M
$22.1M
Interest expense
-$8.9M
-$9.3M
-$6.5M
Gain on partial extinguishment of convertible senior notes
$0
$0
$3.7M
Other income (expense), net
$489.0K
-$215.0K
-$433.0K
Income (loss) before (benefit from) provision for income taxes
$20.2M
-$41.8M
-$77.4M
(Benefit from) provision for income taxes
-$152.5M
$1.8M
-$12.0K
Net income (loss)
$172.7M
-$43.5M
-$77.4M
Net loss attributable to redeemable non-controlling interest
-$664.0K
-$801.0K
-$2.2M
Net income (loss) attributable to PagerDuty, Inc.
$173.4M
-$42.7M
-$75.2M
Less: Adjustment attributable to redeemable non-controlling interest
-$481.0K
$11.7M
$6.6M
Net income (loss) attributable to PagerDuty, Inc. common stockholders
$173.9M
-$54.5M
-$81.8M
Weighted average shares used in calculating net loss per share, basic (in shares)
91.2M shares
92.0M shares
92.3M shares
Weighted average shares used in calculating net loss per share, diluted (in shares)
93.0M shares
92.0M shares
92.3M shares
Net loss per share, basic, attributable to PagerDuty, Inc. common stockholders (in dollars per share)
$1.91
-$0.59
-$0.89
Net loss per share, diluted, attributable to PagerDuty, Inc. common stockholders (in dollars per share)
$1.87
-$0.59
-$0.89
No quarter-by-quarter statement was filed.
Total assets1710111213146$990.5M in 2026+402% since 2019Total liabilities1710111213146$719.9M in 2026+673% since 2019Shareholders’ equity111213146$253.6M in 2026Cash101113146$237.4M in 2026+86% since 2019Long-term debt10111213146$420.6M in 2026+38% since 2021
Total assets1516$958.3M in Q2 FY2026−3% since Q1 FY2026Total liabilities1516$711.4M in Q2 FY2026−1% since Q1 FY2026Shareholders’ equity1516$232.0M in Q2 FY2026−9% since Q1 FY2026Cash1516$233.7M in Q2 FY2026−2% since Q1 FY2026
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
2023-01-31
Cash and cash equivalents
$237.4M
$346.5M
$363.0M
Investments
$232.4M
$224.4M
Accounts receivable, net of allowance for credit losses of $1,175 and $1,103
$108.4M
$107.3M
Deferred contract costs, current
$18.4M
$19.8M
Prepaid expenses and other current assets
$15.6M
$13.8M
Total current assets
$612.2M
$711.7M
Property and equipment, net
$29.2M
$21.3M
Deferred contract costs, non-current
$25.0M
$25.3M
Lease right-of-use assets
$12.5M
$6.8M
Goodwill
$137.4M
$137.4M
Intangible assets, net
$15.6M
$20.9M
Deferred tax assets
$153.7M
$0
Other assets
$4.9M
$3.9M
Total assets
$990.5M
$927.3M
Accounts payable
$6.7M
$7.3M
Accrued expenses and other current liabilities
$19.9M
$20.3M
Accrued compensation
$25.9M
$37.5M
Deferred revenue, current
$246.5M
$243.3M
Lease liabilities, current
$5.0M
$3.3M
Convertible senior notes, net, current
$0
$57.4M
Total current liabilities
$303.9M
$369.2M
Convertible senior notes, net, non-current
$395.7M
$393.3M
Deferred revenue, non-current
$2.5M
$2.5M
Lease liabilities, non-current
$12.6M
$9.6M
Other liabilities
$5.1M
$4.7M
Total liabilities
$719.9M
$779.2M
Redeemable non-controlling interest (Note 3)
$17.1M
$18.2M
$7.3M
Common stock
$0
$0
Additional paid-in-capital
$679.4M
$725.5M
Accumulated other comprehensive loss
-$183.0K
-$485.0K
Accumulated deficit
-$421.8M
-$595.2M
Treasury Stock
-$3.8M
$0
Total stockholders equity
$253.6M
$129.8M
$171.6M
$241.0M
Total liabilities, redeemable non-controlling interest, and stockholders' equity
$990.5M
$927.3M
Allowance for doubtful accounts
$1.2M
$1.1M
Period ending
2026-01-31
2025-01-31
2024-01-31
2023-01-31
Cash and cash equivalents
$237.4M
$346.5M
$363.0M
Investments
$232.4M
$224.4M
Accounts receivable, net of allowance for credit losses of $1,175 and $1,103
$108.4M
$107.3M
Deferred contract costs, current
$18.4M
$19.8M
Prepaid expenses and other current assets
$15.6M
$13.8M
Total current assets
$612.2M
$711.7M
Property and equipment, net
$29.2M
$21.3M
Deferred contract costs, non-current
$25.0M
$25.3M
Lease right-of-use assets
$12.5M
$6.8M
Goodwill
$137.4M
$137.4M
Intangible assets, net
$15.6M
$20.9M
Deferred tax assets
$153.7M
$0
Other assets
$4.9M
$3.9M
Total assets
$990.5M
$927.3M
Accounts payable
$6.7M
$7.3M
Accrued expenses and other current liabilities
$19.9M
$20.3M
Accrued compensation
$25.9M
$37.5M
Deferred revenue, current
$246.5M
$243.3M
Lease liabilities, current
$5.0M
$3.3M
Convertible senior notes, net, current
$0
$57.4M
Total current liabilities
$303.9M
$369.2M
Convertible senior notes, net, non-current
$395.7M
$393.3M
Deferred revenue, non-current
$2.5M
$2.5M
Lease liabilities, non-current
$12.6M
$9.6M
Other liabilities
$5.1M
$4.7M
Total liabilities
$719.9M
$779.2M
Redeemable non-controlling interest (Note 3)
$17.1M
$18.2M
$7.3M
Common stock
$0
$0
Additional paid-in-capital
$679.4M
$725.5M
Accumulated other comprehensive loss
-$183.0K
-$485.0K
Accumulated deficit
-$421.8M
-$595.2M
Treasury Stock
-$3.8M
$0
Total stockholders equity
$253.6M
$129.8M
$171.6M
$241.0M
Total liabilities, redeemable non-controlling interest, and stockholders' equity
$990.5M
$927.3M
Allowance for doubtful accounts
$1.2M
$1.1M
Cash from operations10111213146$114.9M in 2026Capital spending10111213146$2.9M in 2026−21% since 2019Free cash flow10111213146$111.9M in 2026Share buybacks13146$134.9M in 2026
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
Net income (loss) attributable to PagerDuty, Inc. common stockholders
$173.9M
-$54.5M
-$81.8M
Net loss and adjustment attributable to non-controlling interest
-$1.1M
$10.9M
$4.4M
Net income (loss)
$172.7M
-$43.5M
-$77.4M
Depreciation and amortization
$13.1M
$20.6M
$20.2M
Amortization of deferred contract costs
$22.3M
$22.0M
$20.6M
Amortization of debt issuance costs
$2.5M
$2.6M
$2.1M
Gain on extinguishment of convertible senior notes
$0
$0
-$3.7M
Stock-based compensation
$97.8M
$126.2M
$127.2M
Impairment of long-lived assets
$1.2M
$0
$8.4M
Non-cash lease expense
$2.3M
$3.1M
$4.4M
Deferred income taxes
-$153.5M
-$92.0K
-$458.0K
Other
-$1.8M
-$4.5M
-$3.2M
Accounts receivable
-$2.1M
-$8.0M
-$10.7M
Deferred contract costs
-$20.7M
-$22.5M
-$18.8M
Prepaid expenses and other assets
-$2.8M
-$1.9M
$0
Accounts payable
-$704.0K
$1.1M
-$1.5M
Accrued expenses and other liabilities
-$3.5M
$4.3M
$4.6M
Accrued compensation
-$12.2M
$6.9M
-$11.8M
Deferred revenue
$3.3M
$17.7M
$18.1M
Lease liabilities
-$3.1M
-$6.1M
-$6.0M
Net cash provided by operating activities
$114.9M
$117.9M
$72.0M
Purchases of property and equipment
-$2.9M
-$2.8M
-$2.2M
Capitalized software costs
-$9.2M
-$6.7M
-$5.4M
Cash flows related to business combination
$0
$0
-$24.1M
Purchases of available-for-sale investments
-$195.6M
-$214.7M
-$217.0M
Proceeds from maturities of available-for-sale investments
$189.5M
$202.0M
$218.3M
Proceeds from sales of available-for-sale investments
$1.2M
$2.2M
$0
Purchases of non-marketable equity investments
-$1.2M
$0
-$200.0K
Net cash used in investing activities
-$18.3M
-$20.0M
-$30.5M
Proceeds from issuance of convertible senior notes, net of issuance costs
$0
-$403.0K
$390.8M
Purchases of capped calls related to convertible senior notes
$0
$0
-$55.1M
Repurchases of convertible senior notes
$0
$0
-$223.7M
Repayments of convertible senior notes
-$57.5M
$0
$0
Investment from redeemable non-controlling interest holder
$0
$0
$1.8M
Repurchases of common stock
-$134.9M
-$100.1M
-$50.0M
Proceeds from employee stock purchase plan
$6.9M
$9.0M
$10.3M
Proceeds from issuance of common stock upon exercise of stock options
$4.0M
$4.3M
$9.9M
Employee payroll taxes paid related to net share settlement of restricted stock units
-$24.8M
-$29.0M
-$32.4M
Net cash (used in) provided by financing activities
-$206.4M
-$116.1M
$51.6M
Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash
-$4.0K
-$124.0K
-$401.0K
Net change in cash, cash equivalents, and restricted cash
-$109.8M
-$18.3M
$92.6M
Cash paid for interest
$6.4M
$6.8M
$3.0M
Cash paid for taxes
$2.2M
$813.0K
$908.0K
Purchase of property and equipment, accrued but not yet paid
$318.0K
$251.0K
$430.0K
Issuance costs included in accrued expenses
$0
$0
$413.0K
Stock-based compensation capitalized in internal use software
PagerDuty sits at the top of its group. 5 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PagerDuty reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters is located in San Francisco, California, and consists of approximately 42,118 square feet of space under a lease that expires in fiscal 2029.
We also have office locations in Atlanta, Georgia; Toronto, Canada; Santiago, Chile; London, England; Sydney, Australia; Lisbon, Portugal; and Tokyo, Japan.
The company was founded 2009 in Toronto, Ontario, by University of Waterloo graduates Alex Solomon, Andrew Miklas, and Baskar Puvanathasan. The company was incubated at Y Combinator.
In July 2016, the former CEO of Keynote Systems, Jennifer Tejada, was named CEO of PagerDuty.
In June 2018, PagerDuty launched Event Intelligence, a product designed to analyze incoming digital signals and human responses to communicate incident response suggestions to operators when new incidents occur. At its industry conference in September 2018, the company also launched PagerDuty Visibility and PagerDuty Analytics.
In March 2019, PagerDuty filed its S-1 with the SEC in anticipation of its IPO and in April 2019, PagerDuty went public on the New York Stock Exchange.
On January 21, 2023 PagerDuty CEO Tejada's layoff memo was criticized for insensitivity for inappropriately quoting Martin Luther King, announcing promotions of executives, and tone deafness.
In May 2026, John DiLullo was named CEO and Jennifer Tejada became Executive Chair
In June 2026, Eric Prengel was named Chief Financial Officer
May 29, 2025Reported quarterly or annual results57
Mar 13, 2025Reported quarterly or annual results58
Nov 26, 2024Reported quarterly or annual results59
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
433 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 47 major events, 261 insider forms, 40 large holders, 64 other. The latest 20:
113 open-market trades by officers, directors and large owners since October 2021: 0 buys and 113 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
AuditorPricewaterhouseCoopers LLP, San Francisco, California PCAOB ID 238; it also attests to the company’s internal control over financial reporting18
From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks PagerDuty names in Item 1A of its 10-K filed Mar 12, 2026: 68 risks under these headings, as written.18
This summary provides an overview of the risks we face and should not be considered a substitute for the more fulsome risk factors discussed immediately following this summary.
Risks Related to Our Business and Industry
We have experienced slowing growth rates in recent periods, and our revenue growth may continue to decelerate, fluctuate, or decline.
The markets in which we participate are competitive, and if we do not compete effectively, our operating results could be harmed.
If we are unable to attract new customers, our revenue will be adversely affected.
Our previous and any future restructuring efforts may not result in the anticipated savings or operational efficiencies expected, could result in greater total costs and expenses than we estimated, and could disrupt our business.
If we are unable to retain our current customers or sell additional functionality and services to them, our revenue will be adversely affected.
If we fail to adapt and respond effectively to rapidly changing technology, evolving industry standards, changing regulations, and changing customer needs, requirements, or preferences, our products may become less competitive.
We have a history of operating losses and may not sustain or increase profitability in the future.
We operate in an emerging and evolving market, which may develop more slowly or differently than we expect. If our market does not grow as we expect, or if we cannot expand our platform to meet the demands of this market, our revenue may fail to grow or even decline, and we may incur additional operating losses.
We derive a majority of our revenue from a single product.
The nature of our business exposes us to inherent liability risks.
The other 57 risks
We expect fluctuations in our financial results, making it difficult to project future results, and if we fail to meet the expectations of securities analysts or investors with respect to our operating results, our stock price and the value of your investment could decline.
Because we recognize revenue from the vast majority of our subscriptions over the term of the relevant agreement, downturns or upturns in sales are not immediately reflected in full in our operating results.
Our annual recurring revenue and certain other operational data are operating metrics that are subject to assumptions and limitations, including that the factors that impact ARR will vary from those that impact revenue. As such, these metrics may not provide an accurate indication of our actual performance or our future results.
Seasonality may cause fluctuations in our sales and operating results.
If we fail to maintain and enhance our brand, our ability to expand our customer base will be impaired and our business, results of operations, and financial condition may suffer.
Failure to effectively develop and expand our marketing and sales capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our products.
If we are unable to enhance and improve our platform or develop new functionality or use cases, our revenue may not grow.
If our products fail to perform properly due to defects or similar problems, and if we fail to develop enhancements to resolve any defects or other problems, we could lose customers, become subject to service performance or warranty claims, or incur other significant costs.
As we continue to pursue sales to new and existing enterprise customers, our sales cycle, forecasting processes, and deployment processes may become more unpredictable and require greater time and expense.
Unfavorable conditions in our industry or the global economy, or reductions in information technology spending, could limit our ability to grow our business and negatively affect our results of operations.
Issues relating to the responsible use of our technologies, including Emerging AI Technologies in our offerings, may result in reputational or financial harm and liability.
If we cannot continue to maintain our company culture, our success and our business may be harmed.
If we lose key members of our management team or are unable to attract and retain executives and employees we need to support our operations and growth, our business may be harmed.
The failure to attract and retain additional qualified personnel and any restrictions on the movement of personnel could prevent us from executing our business strategy.
The estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.
If our information technology systems or those of third parties with whom we work or our data are or were compromised, we could experience adverse consequences resulting from such compromise, including, but not limited to, significant costs, litigation and regulatory investigations and actions, harm to our reputation, loss of revenue or profits, loss of customers, and other adverse consequences.
We rely upon free trials of our products and other inbound lead-generation strategies to drive our sales and revenue. If these strategies fail to continue to generate sales opportunities or trial users do not convert into paying customers, our business and results of operations would be harmed.
Interruptions or delays in performance of our service could result in customer dissatisfaction, damage to our reputation, loss of customers, limited growth, and reduction in revenue.
If we do not or cannot maintain the compatibility of our platform with third-party applications that our customers use in their businesses, our revenue and growth prospects will decline.
The success of our business depends on our customers’ continued and unimpeded internet access.
We provide service-level commitments under our cloud-hosted subscription agreements. If we fail to meet these contractual commitments, we could be obligated to provide credits for future service or face subscription termination with refunds of prepaid amounts, which would lower our revenue and harm our business, results of operations, and financial condition.
If we fail to offer high-quality support, our business and reputation could suffer.
We may not be able to scale our business quickly enough to meet our customers’ growing needs, and if we are not able to grow efficiently, our operating results could be harmed.
Our current operations are international in scope, and we plan further geographic expansion, creating a variety of operational challenges.
Our international operations may subject us to potential adverse tax consequences.
International trade policies, geopolitical developments, and macroeconomic conditions, including tariffs, sanctions, trade barriers, and global instability, may adversely affect our business, financial condition, results of operations and prospects.
We are exposed to fluctuations in currency exchange rates, which could negatively affect our operating results.
Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
Changes in tax laws or regulations may have a material adverse effect on our business, cash flow, financial condition, or results of operations.
If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our results of operations could be adversely affected.
We may not be able to successfully manage the growth of our business if we are unable to continue improving our internal systems, processes, and controls.
We could incur substantial costs in protecting or defending our proprietary rights, and any failure to adequately protect such rights could impair our competitive position and result in the loss of valuable intellectual property rights, reduced revenue, and costly litigation.
Any litigation or claims against us could be costly and time-consuming to defend.
We have in the past, and may in the future be, subject to intellectual property disputes, which are costly and may subject us to significant liability and increased costs of doing business.
We use open-source software in our products, which could subject us to litigation or other actions.
Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, data protection, and other losses.
We are subject to anti-corruption, anti-bribery, anti-money laundering, and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business.
Failure to comply with governmental laws and regulations could harm our business.
Increased government scrutiny of the technology industry could negatively affect our business.
Our sales to government entities and highly regulated organizations are subject to a number of challenges and risks.
We are subject to government regulation, including export, import and economic sanctions laws and regulations, that may impair our ability to compete in international markets or subject us to liability if we fail to comply.
Servicing our debt, including our 1.50% convertible senior notes due 2028 (the “2028 Notes”), may require a significant amount of cash and we may not have sufficient cash flow from our business or the ability to raise the funds necessary to settle conversion of the 2028 Notes in cash, repurchase the 2028 Notes upon a fundamental change or to repay our indebtedness at maturity.
The conditional conversion feature of the 2028 Notes, if triggered, may adversely affect our financial condition and results of operations.
Transactions relating to our 2028 Notes may affect the value of our common stock.
We are subject to counterparty risk with respect to the Capped Calls.
We may require additional capital to support the growth of our business, and this capital might not be available on acceptable terms, if at all.
We have acquired, and may in the future acquire, other businesses, which could require significant management attention, disrupt our business, or dilute stockholder value.
Risks Related to Ownership of Our Common Stock
Our stock price may be volatile, and the value of our common stock may decline.
Future sales of our common stock in the public market could cause the market price of our common stock to decline.
If securities or industry analysts do not publish research or publish unfavorable or inaccurate research about our business, our stock price and trading volume could decline.
We do not intend to pay dividends for the foreseeable future and, as a result, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
If our internal control over financial reporting or our disclosure controls and procedures are not effective, we may not be able to accurately report our financial results, prevent fraud, or file our periodic reports in a timely manner, which may cause investors to lose confidence in our reported financial information and may lead to a decline in our stock price.
Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our common stock.
Our amended and restated certificate of incorporation designates the Court of Chancery of the State of Delaware and, to the extent enforceable, the federal district courts of the United States of America as the exclusive forums for substantially all disputes between us and our stockholders, which restricts our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, or employees.
General Risks
The requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage our business, especially now that we are no longer an “emerging growth company.”
We are obligated to develop and maintain proper and effective internal controls over financial reporting, and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of our common stock.
Our reported financial results may be adversely affected by changes in accounting principles generally accepted in the United States.
Legal proceedings
From time to time, we are involved in various legal proceedings arising from the normal course of business activities. We are not presently a party to any litigation the outcome of which, we believe, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows, or financial condition.
