This page shows Pagerduty (PD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
PagerDuty’s high-margin software model is entering self-funding territory as fixed costs are finally being absorbed.
FY2026’s$173.4M net income overstates the operating turn because a tax benefit of$152.5M did most of the work. The more durable shift is cash conversion: operating income finally turned positive and free cash flow stayed above$100M for a second year, helped by capex of only$2.9M .
Because gross margin never left the
The business is capital-light: free cash flow of
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Pagerduty's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pagerduty has an operating margin of 1.2%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 5/100, suggesting thin profitability after operating expenses. This is up from -12.8% the prior year.
Pagerduty's revenue grew 5.4% year-over-year to $492.5M, a solid pace of expansion. This earns a growth score of 45/100.
Pagerduty carries a low D/E ratio of 1.66, meaning only $1.66 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
Pagerduty's current ratio of 2.01 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
Pagerduty converts 22.7% of revenue into free cash flow ($111.9M). This strong cash generation earns a score of 80/100.
Pagerduty's ROE of 68.1% shows moderate profitability relative to equity, earning a score of 47/100. This is up from -29.9% the prior year.
Pagerduty scores 0.74, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($532.7M) relative to total liabilities ($719.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Pagerduty passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Pagerduty generates $0.67 in operating cash flow ($114.9M OCF vs $172.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Pagerduty earns $0.7 in operating income for every $1 of interest expense ($5.8M vs $8.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Pagerduty generated $492.5M in revenue in fiscal year 2026. This represents an increase of 5.4% from the prior year.
Pagerduty's EBITDA was $19.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 148.4% from the prior year.
Pagerduty reported $172.7M in net income in fiscal year 2026. This represents an increase of 496.7% from the prior year.
Pagerduty earned $1.87 per diluted share (EPS) in fiscal year 2026. This represents an increase of 416.9% from the prior year.
Cash & Balance Sheet
Pagerduty generated $111.9M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 2.8% from the prior year.
Pagerduty held $237.4M in cash against $420.6M in long-term debt as of fiscal year 2026.
Pagerduty had 85M shares outstanding in fiscal year 2026. This represents a decrease of 6.7% from the prior year.
Margins & Returns
Pagerduty's gross margin was 85.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the prior year.
Pagerduty's operating margin was 1.2% in fiscal year 2026, reflecting core business profitability. This is up 14.0 percentage points from the prior year.
Pagerduty's net profit margin was 35.1% in fiscal year 2026, showing the share of revenue converted to profit. This is up 44.4 percentage points from the prior year.
Pagerduty's ROE was 68.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 98.0 percentage points from the prior year.
Capital Allocation
Pagerduty invested $126.9M in research and development in fiscal year 2026. This represents a decrease of 10.3% from the prior year.
Pagerduty spent $134.9M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 34.8% from the prior year.
Pagerduty invested $2.9M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 5.4% from the prior year.
PD Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $124.8M+0.2% | $124.5M+0.9% | $123.4M+3.0% | $119.8M-1.4% | $121.4M+2.1% | $118.9M+2.6% | $115.9M+4.3% | $111.2M |
| Cost of Revenue | $17.6M-4.1% | $18.4M-3.4% | $19.0M-1.0% | $19.2M-4.0% | $20.0M-1.5% | $20.3M+0.9% | $20.1M+3.8% | $19.3M |
| Gross Profit | $107.2M+0.9% | $106.2M+1.7% | $104.4M+3.8% | $100.6M-0.8% | $101.5M+2.8% | $98.7M+2.9% | $95.9M+4.4% | $91.8M |
| R&D Expenses | $32.6M+10.7% | $29.4M-4.8% | $30.9M-9.3% | $34.0M-1.6% | $34.6M+1.0% | $34.3M-2.3% | $35.1M-6.5% | $37.5M |
| SG&A Expenses | $24.9M+2.1% | $24.4M-4.4% | $25.5M-5.1% | $26.9M+5.3% | $25.5M+0.3% | $25.4M-1.5% | $25.8M-6.2% | $27.5M |
| Operating Income | $4.5M-44.0% | $8.1M+126.6% | $3.6M+134.5% | -$10.3M+11.9% | -$11.7M-13.9% | -$10.3M+35.8% | -$16.0M+26.3% | -$21.7M |
| Interest Expense | $2.1M+0.3% | $2.1M-8.1% | $2.3M-3.3% | $2.4M-0.3% | $2.4M-0.3% | $2.4M+0.6% | $2.4M+10.0% | $2.1M |
| Income Tax | -$1.8M+98.8% | -$149.7M-7925.4% | -$1.9M-329.4% | $813K+81.5% | $448K-37.3% | $715K+67.4% | $427K+121.2% | $193K |
| Net Income | $8.7M-94.6% | $161.6M+1587.6% | $9.6M+233.7% | -$7.2M+25.1% | -$9.6M-61.4% | -$5.9M+45.7% | -$10.9M+36.3% | -$17.1M |
| EPS (Diluted) | N/A | $1.69+1590.0% | $0.10+242.9% | $-0.07 | N/A | $-0.07+50.0% | $-0.14+46.2% | $-0.26 |
PD Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $990.5M-3.6% | $1.0B+15.3% | $891.5M-3.8% | $926.8M-0.1% | $927.3M+7.0% | $866.8M-5.4% | $916.0M-0.9% | $924.0M |
| Current Assets | $612.2M-7.1% | $658.9M-1.9% | $671.7M-5.8% | $713.3M+0.2% | $711.7M+8.8% | $654.1M-6.6% | $700.5M-0.9% | $707.0M |
| Cash & Equivalents | $237.4M-26.8% | $324.3M-4.5% | $339.7M-8.6% | $371.8M+7.3% | $346.5M+6.1% | $326.4M-15.4% | $385.7M+0.8% | $382.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $108.4M+37.5% | $78.9M+12.0% | $70.4M-11.6% | $79.7M-25.8% | $107.3M+42.8% | $75.2M+12.5% | $66.8M-13.8% | $77.5M |
| Goodwill | $137.4M0.0% | $137.4M0.0% | $137.4M0.0% | $137.4M0.0% | $137.4M0.0% | $137.4M0.0% | $137.4M0.0% | $137.4M |
| Total Liabilities | $719.9M+4.6% | $688.4M-0.8% | $693.9M-9.2% | $763.8M-2.0% | $779.2M+5.5% | $738.7M+0.5% | $735.3M-0.1% | $736.0M |
| Current Liabilities | $303.9M+9.3% | $278.1M-1.1% | $281.1M-20.5% | $353.7M-4.2% | $369.2M+11.1% | $332.3M+1.0% | $328.9M+20.4% | $273.1M |
| Long-Term Debt | $420.6M | N/A | N/A | N/A | $484.5M | N/A | N/A | N/A |
| Total Equity | $253.6M-20.9% | $320.5M+77.4% | $180.7M+24.1% | $145.7M+12.2% | $129.8M+16.3% | $111.6M-32.2% | $164.7M-5.4% | $174.0M |
| Retained Earnings | -$421.8M+2.2% | -$431.2M+27.3% | -$592.8M+1.6% | -$602.3M-1.2% | -$595.2M-1.5% | -$586.4M-1.0% | -$580.5M-1.9% | -$569.6M |
PD Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.4M+2.4% | $24.8M-27.0% | $34.0M+10.8% | $30.7M-2.3% | $31.4M+42.3% | $22.1M-38.3% | $35.8M+24.9% | $28.6M |
| Capital Expenditures | $883K+18.8% | $743K-15.0% | $874K+98.2% | $441K-61.5% | $1.1M+107.4% | $552K-13.3% | $637K+39.4% | $457K |
| Free Cash Flow | $24.5M+1.9% | $24.1M-27.3% | $33.1M+9.5% | $30.2M-0.1% | $30.3M+40.6% | $21.5M-38.7% | $35.1M+24.6% | $28.2M |
| Investing Cash Flow | -$11.2M-719.4% | $1.8M+125.3% | -$7.2M-326.8% | -$1.7M+83.6% | -$10.2M-230.4% | -$3.1M+18.4% | -$3.8M-34.7% | -$2.8M |
| Financing Cash Flow | -$101.0M-138.6% | -$42.3M+28.3% | -$59.1M-1393.9% | -$4.0M-40.5% | -$2.8M+96.4% | -$78.1M-169.9% | -$28.9M-362.3% | -$6.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $98.8M+173.3% | $36.1M | N/A | N/A | $2.6M-96.3% | $70.3M | N/A | N/A |
PD Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.9%+0.6pp | 85.3%+0.7pp | 84.6%+0.6pp | 84.0%+0.4pp | 83.5%+0.6pp | 83.0%+0.3pp | 82.7%+0.1pp | 82.6% |
| Operating Margin | 3.6%-2.9pp | 6.5%+3.6pp | 2.9%+11.5pp | -8.6%+1.0pp | -9.7%-1.0pp | -8.6%+5.2pp | -13.8%+5.7pp | -19.6% |
| Net Margin | 7.0%-122.8pp | 129.7%+122.0pp | 7.8%+13.7pp | -6.0%+1.9pp | -7.9%-2.9pp | -5.0%+4.4pp | -9.4%+6.0pp | -15.4% |
| Return on Equity | 3.4%-47.0pp | 50.4%+45.1pp | 5.3%+10.2pp | -4.9%+2.4pp | -7.4%-2.1pp | -5.3%+1.3pp | -6.6%+3.2pp | -9.8% |
| Return on Assets | 0.9%-14.8pp | 15.7%+14.7pp | 1.1%+1.8pp | -0.8%+0.3pp | -1.0%-0.4pp | -0.7%+0.5pp | -1.2%+0.7pp | -1.8% |
| Current Ratio | 2.01-0.4 | 2.37-0.0 | 2.39+0.4 | 2.02+0.1 | 1.93-0.0 | 1.97-0.2 | 2.13-0.5 | 2.59 |
| Debt-to-Equity | 1.66-0.5 | 2.15-1.7 | 3.84-1.4 | 5.24+1.5 | 3.73-2.9 | 6.62+2.2 | 4.46+0.2 | 4.23 |
| FCF Margin | 19.7%+0.3pp | 19.3%-7.5pp | 26.8%+1.6pp | 25.2%+0.3pp | 24.9%+6.8pp | 18.1%-12.2pp | 30.3%+4.9pp | 25.4% |
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Frequently Asked Questions
What is Pagerduty's annual revenue?
Pagerduty (PD) reported $492.5M in total revenue for fiscal year 2026. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pagerduty's revenue growing?
Pagerduty (PD) revenue grew by 5.4% year-over-year, from $467.5M to $492.5M in fiscal year 2026.
Is Pagerduty profitable?
Yes, Pagerduty (PD) reported a net income of $172.7M in fiscal year 2026, with a net profit margin of 35.1%.
What is Pagerduty's EBITDA?
Pagerduty (PD) had EBITDA of $19.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Pagerduty have?
As of fiscal year 2026, Pagerduty (PD) had $237.4M in cash and equivalents against $420.6M in long-term debt.
What is Pagerduty's gross margin?
Pagerduty (PD) had a gross margin of 85.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pagerduty's operating margin?
Pagerduty (PD) had an operating margin of 1.2% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Pagerduty's net profit margin?
Pagerduty (PD) had a net profit margin of 35.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Pagerduty's return on equity (ROE)?
Pagerduty (PD) has a return on equity of 68.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Pagerduty's free cash flow?
Pagerduty (PD) generated $111.9M in free cash flow during fiscal year 2026. This represents a -2.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pagerduty's operating cash flow?
Pagerduty (PD) generated $114.9M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Pagerduty's total assets?
Pagerduty (PD) had $990.5M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Pagerduty's capital expenditures?
Pagerduty (PD) invested $2.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Pagerduty spend on research and development?
Pagerduty (PD) invested $126.9M in research and development during fiscal year 2026.
What is Pagerduty's current ratio?
Pagerduty (PD) had a current ratio of 2.01 as of fiscal year 2026, which is generally considered healthy.
What is Pagerduty's debt-to-equity ratio?
Pagerduty (PD) had a debt-to-equity ratio of 1.66 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pagerduty's return on assets (ROA)?
Pagerduty (PD) had a return on assets of 17.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Pagerduty's Altman Z-Score?
Pagerduty (PD) has an Altman Z-Score of 0.74, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pagerduty's Piotroski F-Score?
Pagerduty (PD) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pagerduty's earnings high quality?
Pagerduty (PD) has an earnings quality ratio of 0.67x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pagerduty cover its interest payments?
Pagerduty (PD) has an interest coverage ratio of 0.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pagerduty?
Pagerduty (PD) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.