PagerDuty, Inc. Files 2024 10-K Report

TL;DR

<b>PagerDuty, Inc. has submitted its annual 10-K filing for the fiscal year ending January 31, 2024.</b>

AI Summary

PagerDuty, Inc. (PD) filed a Annual Report (10-K) with the SEC on March 15, 2024. PagerDuty, Inc. filed its 10-K report for the fiscal year ending January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. The company's principal business address is 600 Townsend Street #200, San Francisco, CA 94103. PagerDuty, Inc. is incorporated in Delaware. The filing was submitted on March 15, 2024.

Why It Matters

For investors and stakeholders tracking PagerDuty, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of PagerDuty's financial performance, operational activities, and risk factors for the fiscal year 2024. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — PagerDuty, Inc. shows moderate risk based on this filing. The company's business is subject to risks associated with the technology and software industry, including competition and rapid technological changes, as indicated by its SIC code 7372 (Services-Prepackaged Software).

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand PagerDuty's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2024-01-31 — Fiscal Year End (Report period)
• 2024-03-15 — Filing Date (Submission date)
• 001-38856 — SEC File Number (PagerDuty's SEC registration)
• 272793871 — IRS Number (Company tax identifier)

Key Players & Entities

• PagerDuty, Inc. (company) — Filer name
• 2024-01-31 (date) — Fiscal year end
• 2024-03-15 (date) — Filing date
• 600 Townsend Street #200 (address) — Business address
• San Francisco (location) — Business address city
• CA (location) — Business address state
• DE (location) — State of incorporation
• 7372 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

PagerDuty operates in the software industry, specifically in prepackaged software services, indicating a focus on technology-driven solutions.

Regulatory Implications

As a publicly traded company, PagerDuty is subject to the regulations of the Securities and Exchange Commission (SEC) under the 1934 Act.

What Investors Should Do

1. Analyze PagerDuty's revenue streams and growth trends from the detailed financial statements.
2. Evaluate the company's operational efficiency and profitability metrics.
3. Assess the identified risk factors and management's mitigation strategies.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-15: Filing Date — Date PagerDuty, Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending January 31, 2024, following previous filings.

Key Financial Figures

• $0.000005 — ange on which registered Common Stock, $0.000005 par value PD New York Stock Exchange
• $430.7 million — uary 31, 2024 and 2023, our revenue was $430.7 million and $370.8 million, respectively. We co
• $370.8 m — 023, our revenue was $430.7 million and $370.8 million, respectively. We continue to inv
• $75.2 million — a net loss attributable to PagerDuty of $75.2 million and $128.4 million for the fiscal years
• $128.4 million — table to PagerDuty of $75.2 million and $128.4 million for the fiscal years ended January 31,
• $38 billion — te our total addressable market is over $38 billion. To calculate our total addressable mar

Filing Documents

• pd-20240131.htm (10-K) — 2173KB
• compensationcommitteeconse.htm (EX-10.18) — 40KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 5KB
• exhibit231eyconsent31524.htm (EX-23.1) — 5KB
• pagerdutyq42024ex311.htm (EX-31.1) — 9KB
• pagerdutyq42024ex312.htm (EX-31.2) — 8KB
• pagerdutyq42024ex321.htm (EX-32.1) — 6KB
• pd-20240131_g1.jpg (GRAPHIC) — 320KB
• pd-20240131_g2.jpg (GRAPHIC) — 43KB
• 0001568100-24-000013.txt (&nbsp;) — 11997KB
• pd-20240131.xsd (EX-101.SCH) — 66KB
• pd-20240131_cal.xml (EX-101.CAL) — 150KB
• pd-20240131_def.xml (EX-101.DEF) — 331KB
• pd-20240131_lab.xml (EX-101.LAB) — 866KB
• pd-20240131_pre.xml (EX-101.PRE) — 655KB
• pd-20240131_htm.xml (XML) — 1603KB

Business

Business 6 Item IA.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 48

Cybersecurity

Item 1C. Cybersecurity 49 Item 2.

Properties

Properties 50 Item 3.

Legal Proceedings

Legal Proceedings 50 Item 4. Mine Safety Disclosures 50 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 51 Item 6. [Reserved] 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 52 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 113 Item 9A.

Controls and Procedures

Controls and Procedures 113 Item 9B. Other Information 114

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 114 Part III Item 10. Directors, Executive Officers and Corporate Governance 115 Item 11.

Executive Compensation

Executive Compensation 115 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 115 Item 13. Certain Relationships and Related Transactions and Director Independence 115

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 115 Part IV Item 15. Exhibits and Financial Statement Schedules 116 Item 16. Form 10-K Summary 118

Signatures

Signatures 119 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Form 10-K"), contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risk and uncertainties. All statements contained in this report other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth and trends, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "likely," "target" and similar expressions are intended to identify forward-looking statements. Forward-looking statement contained in this Form 10-K include, but are not limited to, statements about our expectations regarding: the impact of an economic downturn or recession, rising inflation or significant market volatility in the global economy on our customers, partners, employees and business; trends in key business metrics, including number of customers and dollar-based net retention rate, and non-GAAP financial measures and their usefulness in evaluating our business; trends in revenue, cost of revenue, and gross margin; trends in operating expenses, including research and development, sales and marketing, and general and administrative expense, and expectations regarding these expenses as a percentage of revenue; our existing cash and cash equivalents and cash provided by sales of our subscriptions being sufficient to support working capital and capital expenditures for at least the next 12 months and our ability to meet longer-term expected future cash requirements and obligations, through a combi

Business

Item 1. Business Overview PagerDuty, Inc. is a global leader in digital operations management, enabling customers to achieve operational efficiency at scale and transform critical work for modern enterprises. The PagerDuty Operations Cloud combines AIOps, Automation, Incident Management, and Customer Service Operations into a flexible, resilient and scalable platform to increase innovation velocity, protect revenue, reduce cost, and mitigate the risk of operational failure. Today, nearly every business is a digital business. As such, organizations are under pressure to enhance their digital operations in order to meet escalating customer expectations, resolve incidents proactively, and free-up time for innovation projects. This means critical, time sensitive, and unpredictable work needs to be detected and orchestrated. We collect data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning (ML) to correlate, process, and predict opportunities and incidents. Using incident management, process automation, AI operations and customer service operations, we bring together the right people with the right information so they can resolve issues and act on opportunities in minutes or seconds from wherever they are. Since our founding in 2009, we have expanded our capabilities from a single product focused on on-call management for developers to a multi-product platform that crosses silos into IT infrastructure and operations, security, customer service, and executive stakeholder roles across an organization. We have evolved from an on-call tool into a platform for digital operations, which resides at the center of a company's technology ecosystem. We have spent more than a decade building deep product integrations to our platform, and our ecosystem now includes over 700 direct integrations to enable our customers to gather and correlate digital signals from any system or device. This allows technical teams to col