Cloud Stocks: PagerDuty’s Expanding Integration Portfolio

According to a recent market research report, the global market for DevOps is estimated to grow from $6 billion in 2020 to $17.8 billion by 2026, at a CAGR of just under 20%. DevOps solutions are being increasingly adopted across various industries, with the telecom & ITES sector leading the growth. San Francisco-based PagerDuty (NYSE: PD) recently announced the results for the second quarter that outpaced market expectations.

PagerDuty’s Financials

Revenues for the second quarter grew 33% to $68 million, ahead of the market’s forecast by 3.28%. GAAP net loss was $29.7 million or $0.35 per share, compared with a loss of $14.7 million or $0.19 per share a year ago. Non-GAAP net loss was $0.13 per share compared with the market’s forecast of a loss of $0.16 per share.

Among key metrics, it reported 18,000 customers as of the end of July this year with new names like Alkeon Capital Management, Citigroup, EnterpriseDB Corporation, Mattress Firm, Via Varejo S.A., and Selfridges joining its customer portfolio.

For the third quarter, PagerDuty forecast revenues of $69-$71 million and an adjusted loss of $0.10-$0.09 per share. It expects revenues of $273-$276 million and an adjusted loss of $0.39-$0.35 a share for the fiscal year. Analysts had forecast revenues of $70.04 million and a loss of $0.09 a share for the third quarter and revenues of $275.05 million and a loss of $0.37 per share for the year.

PagerDuty’s Focus Areas

PagerDuty continued to build its integration ecosystem and ended the quarter with over 600 direct integrations across security, workflow, data observability, digital experience, and other use cases. The company currently allows three kinds of integrations – email integrations that allow users to integrate PagerDuty with any service capable of sending email alerts; through APIs that allow developers to build real-time workflows into their applications, and through a helper program PagerDuty Agent that can be installed on a monitoring system to integrate monitoring tools with PagerDuty.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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