Here is why PagerDuty Inc. (PD) stock pop up on Thursday?

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PagerDuty Inc. (PD) stock surged 13.77% in after-hours on Thursday, September 02, 2021, and closed the daily trading at $50.40. In the regular trading session, PD’s stock also gained 1.21%. PD shares have risen 26.61% over the last 12 months, and they have moved up 9.79% in the past week. Over the past three months, the stock has gained 25.28%, while over the past six months, it has soared17.82%.

Let’s have a look at its recent news and developments.

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PD Stock recent financial results announcement

On September 02, 2021, PagerDuty, Inc (PD) announced financial results for the second quarter of fiscal 2022, which ended July 31, 2021.

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Q2 2022 financial highlights

  • PD reported total revenue of $67.5 million in Q2 2022 compared to $50.7 million in Q2 2021.
  • In Q2 2022, GAAP gross margin was 82.3% compared to 86.9% in the second quarter of fiscal 2021.
  • Total operating expenses were $84.07 million compared to $57.5 million in Q2 2021.
  • It suffered a GAAP net loss of $29.7 million in Q2 2022 compared to $14.7 million in the second quarter of fiscal 2021.
  • In Q2 2022, GAAP net loss per share was $0.35, compared to $0.19 in Q2 2021.
  • As of July 31, 2021, the company had cash and Cash Equivalents and Current Investments of 8 million.

Q3 &FY 2022 financial outlook

For the third quarter of fiscal 2022, the company is expecting

  • Total revenue in the range of $69.0 million – $71.0 million.
  • Non-GAAP net loss per share in the range of $0.10 – $0.09.

For FY 2022, it’s expecting Total revenue of $273.0 million and a non-GAAP net loss per share of $0.39 to $0.35.

PD Stock State of Digital Operations report

On July 28, 2021PagerDuty (PD) released findings from its inaugural “State of Digital Operations” report, presenting an aggregated view of data from its customer base of over 16,000 companies and 700,000 users. The report sheds light on the volume of real-time work during the pandemic, the increasing burden on technical teams, and the direct correlation between this new load and employee turnover.

PD Stock new European service region

On June 25, 2021, PagerDuty (PD), announced the general availability of its European service region to support its growing customer base with operations across Europe. Starting June 28, when new customers sign up for PagerDuty, they will have a choice between either the U.S. service region or the European service region. In Europe, PagerDuty’s primary hosting facility is based in Frankfurt, Germany.

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Conclusion

The recent financial results were the reason behind its gains on Thursday. We expect it to continue its positive performance on Friday as well.

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