PagerDuty’s stock falls 5% in extended trading as company beats estimates
PagerDuty Inc.’s stock skidded more than 5% in extended trading Wednesday, after the software company reported fiscal fourth-quarter results that beat Wall Street estimates.
PagerDuty PD, -0.29% reported a net loss of $22.1 million, or 27 cents a share, compared with a net loss of $10.4 million, or 14 cents a share, in the year-ago quarter. Its adjusted net loss was $5.8 million, or 7 cents a share.
Revenue popped 29% to $59.3 million from $45.9 million a year ago. For the fiscal year, PagerDuty revenue hit $213.6 million, and the company forecast first-quarter sales of $61 million to $63 million, up 23% to 27% year over year.
PagerDuty could see a further bump in revenue as employees return to work, necessitating digital-infrastructure services like its own across distributed work environments, and as the travel, hospitality, entertainment and transportation industries get back on their feet.
Fiscal 2021 was highlighted by “consistent, durable” growth in the enterprise and mid-market, with total dollar-based net retention of 121% and enterprise dollar-based net retention above 125% exiting the year, PagerDuty Chief Executive Jennifer Tejada told MarketWatch.
The number of customers who spent more than $1 million grew 44% year over year, while mid-market transactions improved 48%.
Analysts surveyed by FactSet had expected an adjusted loss of 11 cents a share on revenue of $57.5 million.
PagerDuty’s stock has soared 174% over the past 12 months. The broader S&P 500 index SPX, +0.29% has improved 66% over the past year.