Cloud Stocks: The Key To PagerDuty’s API Strategy

 

According to an Allied Market Research report, the global DevOps market is estimated to grow at 19% CAGR to $9.4 billion by 2023. San Francisco-based PagerDuty (NYSE: PD) recently announced its results that impressed the market. The company is counting on expanding its integration with Amazon and other tech services providers to gain a bigger share in the market.

PagerDuty’s Financials

Revenues for the third quarter grew 26% to $54 million, compared with the market’s forecast of $52.5 million. GAAP net loss was $20.6 million or $0.26 per share, compared with a loss of $15.3 million or $0.20 per share a year ago. On an adjusted basis, loss was $0.09 per share compared with the market’s forecast of a loss of $0.10 per share.

Among key metrics, it had 13,725 customers at the end of October 2020 with new names like Belcorp, Chanel, CRED, LegalZoom, Lego and MSCI joining its customer portfolio.

PagerDuty forecast revenues of $57-$58 million with an adjusted loss of $0.12-$0.11 a share for the fourth quarter and revenues of $211-$212 million with an adjusted loss of $0.30-$0.29 a share for the year. Analysts had forecast revenues of $55.27 million with a loss of $0.10 a share for the fourth quarter and revenues of $208.44 million with a loss of $0.29 per share for the year.

PagerDuty’s Growing Integration

Recently, PagerDuty announced its integration with Amazon DevOps Guru, the machine learning powered operational insight service from AWS. With the integration, PagerDuty will be able to automatically integrate observability data from Amazon DevOps Guru. It will also be able to provide actionable insights and resolution that have been contextualized through ML algorithms. By leveraging Amazon DevOps Guru’s ML-enabled app health information, PagerDuty will be able to provide real-time signal-to-resolution capabilities to the customers. Customers will have the ability to seamlessly identify and act on operational issues faster, thus solving them before they result in outages.

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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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