PagerDuty Inc. reported sales and earnings that easily surpassed analyst estimates Thursday, initially pushing the company’s stock up 7% in after-hours trading.
Revenue soared 34% to a record $85.4 million from $63.6 million a year ago, for the software company’s fourth straight quarter of at least 30% year-over-year growth.
Analysts surveyed by FactSet had expected an adjusted loss of 8 cents a share on revenue of $82.7 million. PagerDuty shares topped $28 on Thursday after closing with an 8% gain at $27.43.
During the quarter, PagerDuty “landed and expanded” deals with DocuSign Inc. DOCU,
“We are on track to be profitable for the full fiscal 2024 [next year], and to break even this fourth quarter,” Wilson told MarketWatch in an interview.
The company offered second-quarter guidance of between $87 million and $89 million in revenue, representing a growth rate of 29% to 31% year-over-year, and an adjusted loss of 8 cents to 9 cents a share. FactSet analysts were projecting revenue of $87.2 million and a loss of 8 cents a share.
Shares of PagerDuty have decreased 21% this year, while the broader S&P 500 index SPX,