
PagerDuty reported strong revenue growth and customer expansion in its latest quarter, exceeding market expectations. The company noted that while customer growth dynamics remain largely stable, overall customer numbers were flat, with 100,000 customers showing a 6% increase. Free customers saw a sequential uptick, while remaining performance obligations (RPO) and current remaining performance obligations (CRPO) were flat sequentially. The company's dollar-based net retention (NDR) remained steady at 107%, with billings up 8% year-over-year. Despite these positive indicators, PagerDuty acknowledged that its software customers are being 'prudent' with spending, which has resulted in longer sales cycles. However, the presence of enterprise customers has provided stability and momentum for the incident management vendor.
With enterprise customers providing stability, incident management vendor @pagerduty delivers a strong quarter, saying that despite longer sale cycles, it has good momentum. @Derek_duPreez reviews the numbers: https://t.co/eeg33Lwjuz https://t.co/xV92ltJ6vY
PagerDuty says software customers are still being ‘prudent’ with their spending https://t.co/Z99ykSFidF
PagerDuty says software customers are still being ‘prudent’ with their spending $PD https://t.co/iWbNKee1s5