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PagerDuty (PD) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Aug 27, 2026 · PagerDuty (PD) Q2 FY27 earnings results →

Q2 FY27 Revenue up 1% year over year to $124M · 6¢ of every $1 of revenue kept as net profit · operating margin 8.2%

PagerDuty made $124M in Q2 FY27 (+0.8% Y/Y). Operating margin 8.2%, net earnings $7.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 27, 2026.

Revenue$124M
Year over year+0.8%
Operating margin8.2%
Net earnings$7.8M
Operating cash flow$36.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $124.4M in Q2 FY27, up 1% year over year and up 3% from the previous quarter.

Gross margin was 83.9%, down 0.7 points from Q2 FY26. Operating profit was $10.2M, a 8.2% margin (up 5.3 points year over year). Of the extra revenue versus Q2 FY26, 651% reached operating profit, above the 3% margin then. Operating expenses fell 7% while revenue rose 1%. Net earnings were $7.8M, down 19% year over year. The effective tax rate was 36.1%.

Operating cash flow was $36.9M (up 9% year over year), 479% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $16.5M of share-based compensation. Working capital and other items added $9.9M. After purchases of property and equipment ($2.2M) and capitalization of software costs ($1.9M), free cash flow as the company reports it was $32.8M.

Quarterly history

PagerDuty revenue by quarterPagerDuty revenue by quarter$121MQ4 FY25$120MQ1 FY26$123MQ2 FY26$125MQ3 FY26$125MQ4 FY26$121MQ1 FY27$124MQ2 FY27
PagerDuty net earnings by quarterPagerDuty net earnings by quarter−$8.9MQ4 FY25−$7.4MQ1 FY26$9.6MQ2 FY26$162MQ3 FY26$9.4MQ4 FY26$5.3MQ1 FY27$7.8MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QAug 27, 2026$124M+0.8%8.2%$7.8M$36.9M
Q1 FY2710-QMay 28, 2026$121M+1%7.6%$5.3M$44.3M
Q4 FY2610-KMar 12, 2026$125M+3%3.6%$9.4M$25.4M
Q3 FY2610-QNov 26, 2025$125M+5%6.5%$162M$24.8M
Q2 FY2610-QSep 4, 2025$123M+6%2.9%$9.6M$34.0M
Q1 FY2610-QMay 30, 2025$120M+8%-8.6%−$7.4M$30.7M
Q4 FY2510-KMar 17, 2025$121M+9%-9.6%−$8.9M$31.4M

Charts

PagerDuty: revenue growth, year over year and quarter over quarterPagerDuty: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q4 FY25+8%-1%Q1 FY26+6%+3%Q2 FY26+5%+1%Q3 FY26+3%+0%Q4 FY26+1%-3%Q1 FY27+1%+3%Q2 FY27
Latest (Q2 FY27): Y/Y +1%, Q/Q +3%.
PagerDuty: where the cash came from (+) and went (−), TTM to Q2 FY27PagerDuty: where the cash came from (+) and went (−), TTM to Q2 FY27Buybacks−$208MOperating cash flow$131MCash drawn (+) / kept (−)$106MTaxes on employees’ shares−$16.5MOther investing−$15.3MOther financing$4.9MCapital spending−$4.8MShares issued$1.9MExchange rates−$257K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
PagerDuty: profit against cash, quarter by quarterPagerDuty: profit against cash, quarter by quarterNet incomeOperating cash flow−$6.1M$22.1MQ3 FY25−$8.9M$31.4MQ4 FY25−$7.4M$30.7MQ1 FY26$9.4M$34.0MQ2 FY26$161M$24.8MQ3 FY26$9.3M$25.4MQ4 FY26$5.1M$44.3MQ1 FY27$7.7M$36.9MQ2 FY27
Latest (Q2 FY27): Net income $7.7M, Operating cash flow $36.9M.
PagerDuty: diluted shares by fiscal yearPagerDuty: diluted shares by fiscal year80MFY2185MFY2289MFY2392MFY2492MFY2593MFY26
+16.8% since FY21: more shares outstanding (issuance, stock pay).
PagerDuty: long-term debt falling due (FY26)PagerDuty: long-term debt falling due (FY26)$6.0M2027$6.0M2028$409M2029
Cash $237M, short-term investments $232M, long-term debt $421M at 2026-01-31.
PagerDuty in its industry: growth against margin (192 companies, SIC 7372)PagerDuty in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYPD (+1%, 8%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About PagerDuty

PagerDuty, Inc. (“PagerDuty,” “we,” “us” or “our”) transforms critical work for modern business by building operational resilience, reducing risk, improving customer experience, and driving operational efficiency across digital operations. As a global leader in digital operations management since 2009, PagerDuty helps enterprises manage the complex web of infrastructure, applications, and systems that power today's digital experiences. The PagerDuty Operations Cloud sits at the center of the enterprise technology stack as a system of intelligence and action, ingesting signals from over 700 integrations—including monitoring, observability, security, customer service, and development tools—to orchestrate the right response across people, machines, and software.

In its own words, from its 10-K, filed Mar 12, 2026.

PagerDuty against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.8% against the peers' median +14%. Operating margin: 8.2% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
PD PagerDutyQ2 FY27$124M+0.8%8.2%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: PagerDuty 10-Q on SEC EDGAR · CIK 1568100 · Services-Prepackaged Software

13F: who owns PD and who is buying

Largest holders of PD (13F)Largest holders of PD (13F)Vanguard Group$171MBlackRock$89.3MVanguard Portfolio Management LLC$54.7MD. E. Shaw$40.7MLynrock Lake LP$35.7MAQR Capital Management LLC$31.1MVanguard Capital Management LLC$30.6MState Street$24.0MGeode Capital Management, LLC$21.7MGoldman Sachs Group$19.8M
Funds' net buying of PD by quarter (13F)Funds' net buying of PD by quarter (13F)−$45.9M2024-09−$10.2M2024-12$9.9M2025-03−$23.7M2025-06$45.7M2025-09−$85.9M2025-12−$25.6M2026-03−$2.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PD

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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