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.

PagerDuty already has over 350 technology partners that provide integrations across a variety of cloud services, monitoring, deployment, and ticketing systems for incident resolution and operations management. A deeper integration with Amazon is a key part of its API strategy.

PagerDuty’s Expanding Partnerships

In addition to the integration, PagerDuty also announced the addition of support for two other AWS services – AWS Control Tower and AWS Outposts. PagerDuty for AWS Control Tower will help auto-remediate compliance issues and send issues to the right person to handle, thus giving organizations the power of service ownership. PagerDuty for AWS Outposts will provide organizations the ability to manage incidents in real-time for AWS infrastructure being used in either a private datacenter, co-location space, or on premises facility.

Besides expanding its relationship with Amazon’s products, PagerDuty recently announced a partnership with Tata Consultancy Services to accelerate digital transformation across several key industries. The two companies will work together to focus on developing and implementing digital solutions for joint customers across Infrastructure Managed Services, Cloud Migration, ITOps and DevOps Modernization, Customer Service, security Operations, and Industry-Specific Operation, and build a PagerDuty-TCS Solutions Service Center.

The partnership will take PagerDuty’s Digital Operations Management platform worldwide, thus providing new capabilities for event management, incident response, and AIOps, in addition to advanced insights and analytics. TCS will join PagerDuty’s Partner Program for Solution Partners and Managed Service Providers to provide distribution reselling, professional services, and managed services worldwide.

Its stock is currently trading at $42.01 with a market capitalization of $3.4 billion. It touched a 52-week high of $48.29 in December. The market turbulence in March sent the stock to a 52-week low of $12.33.