PagerDuty, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data PagerDuty, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	79.6	118	166	214	281	371	431	467	493
Cost of revenue	12.7	17.3	24.6	30.7	48.4	70.4	77.8	79.7	74.1
Gross profit	66.9	101	142	183	233	300	353	388	418
Research and development	33.5	38.9	49	64.6	95.7	135	140	141	127
Selling and marketing	47.4	64.1	97.4	122	162	196	197	202	184
General and administrative	24.3	40	51	62.4	77.4	99.2	113	104	102
Operating expenses	105	143	197	249	335	430	449	448	413
Operating income	-38.3	-42.3	-55.6	-66.3	-102	-129	-96.2	-59.8	5.84
Interest expense	0.7	0	0	9.97	5.4	5.43	6.5	9.26	8.86
Interest income	0.37	1.25	5.69	4.23	0.76	5.38	22.1	27.5	22.7
Other non-operating income	0.68	1.03	0.2	-0.79	-0.57	-0.64	-0.43	-0.22	0.49
Pre-tax income	-38	-40	-49.7	-72.8	-107	-130	-77.4	-41.8	20.2
Income tax	0.18	0.7	0.68	-3.91	0.54	-0.84	-0.01	1.78	-153
Net income	-38.1	-40.7	-50.3	-68.9	-107	-128	-75.2	-42.7	173
EBITDA	-37	-40.6	-53.2	-61	-93.4	-112	-76.1	-39.2	19
EPS, basic	-1.91	-1.90	-0.77	-0.87	-1.27	-1.45	-0.89	-0.59	1.91
EPS, diluted	-1.91	-1.90	-0.77	-0.87	-1.27	-1.45	-0.89	-0.59	1.87
Shares, basic (weighted)	20	21.4	65.5	79.6	84.5	88.7	92.3	92	91.2
Shares, diluted (weighted)	20	21.4	65.5	79.6	84.5	88.7	92.3	92	93

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	44	128	124	339	350	274	363	346	237
Short-term investments		0	227	221	194	203	208	224	232
Receivables		33.5	37.1	55.1	75.3	91.3	100	107	108
Other current assets		5.42	7.16	10.6	9.78	13.4	12.1	13.8	15.6
Total current assets		173	405	638	645	600	703	712	612
Property, plant and equipment		5.77	12.4	12.6	18.2	18.4	17.6	21.3	29.2
Lease right-of-use assets				24.7	20.2	14	3.79	6.81	12.5
Goodwill			0	72.1	72.1	119	137	137	137
Intangible assets			0	26.6	23.1	37.2	32.6	20.9	15.6
Other non-current assets		7.16	1.65	1.78	1.49	1.36	5.55	3.86	4.86
Total assets		197	435	795	806	818	925	927	991
Accounts payable		7.66	6.43	5.75	9.51	7.4	6.24	7.33	6.72
Accrued liabilities		7.15	7.2	9.63	13.6	11.8	15.5	20.3	19.9
Deferred revenue		64	87.5	124	163	204	224	243	246
Total current liabilities		88.8	115	173	227	271	282	369	304
Lease liabilities				26.5	20.9	12.7	6.81	9.64	12.6
Other non-current liabilities		4.19	7.35	5.67	3.16	4.18	5.28	4.66	5.15
Total liabilities		93.1	127	429	539	576	746	779	720
Total debt				304	300	296	490	485	421
Paid-in capital		59.9	487	614	616	720	775	725	679
Retained earnings		-129	-179	-248	-349	-477	-552	-595	-422
Treasury stock						0	-50	0	-3.84
Other comprehensive income		0	0.14	0.34	-0.67	-1.59	-0.73	-0.49	-0.18
Shareholders' equity	-56.4	-68.9	308	367	267	241	172	130	254
Total equity	-56.4	-68.9	308	367	267	241	172	130	254
Total liabilities and equity		197	435	795	806	818	925	927	991
Shares outstanding		23.2	77.8	82.9	86.8	91.2	92.7	91.1	84.6

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-38.1	-40.7	-50.3	-68.9	-107	-129	-77.4	-43.5	173
Depreciation and amortization	1.35	1.69	2.34	5.27	8.36	17.4	20.2	20.6	13.1
Stock-based compensation	18.2	19.1	27.2	43.2	70	110	127	126	97.8
Deferred income tax	0.05	0.54	0.52	-4.32	0.35	-1.11	-0.6	-0.09	-154
Change in receivables	-10.1	-15.5	-3.6	-17.6	-21.6	-16.6	-10.7	-8.04	-2.14
Change in payables	2.5	1.36	-1.11	0.32	2.9	-1.47	-1.45	1.14	-0.7
Cash from operations	-11.8	-5.61	-0.17	10.1	-6.02	17	72	118	115
Capital expenditures	-0.82	-3.73	-5.17	-4.04	-3.46	-4.64	-2.16	-2.79	-2.94
Acquisitions		0	0	-49.7	-0.16	-66.3	-24.1	0	0
Purchases of investments	0	0	-224	-222	-197	-212	-217	-215	-196
Sales and maturities of investments	0	0	25	190	194	203	218	202	190
Cash from investing	-0.82	-4.12	-232	-49.3	17.4	-86.2	-30.5	-20	-18.3
Debt repaid	-10	0	0
Stock issued	1.16	1.53	7.19	14.1	15.1	10.5	9.87	4.34	3.96
Share buybacks					0	0	-50	-100	-135
Cash from financing	45.4	93.6	226	254	-0.74	-6.41	51.6	-116	-206
Exchange rate effect				0	0	-0.17	-0.4	-0.12	-0
Net change in cash	32.8	83.9	-6.3	215	10.6	-75.8	92.6	-18.3	-110
Free cash flow	-12.7	-9.34	-5.35	6.06	-9.48	12.3	69.8	115	112
Interest paid	0.52	0	0	1.86	1.8	3.59	2.97	6.79	6.4
Income taxes paid	0.02	0.05	0.07	0	0.32	0.17	0.91	0.81	2.22

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $14.38 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	84.8%	Gross profit / revenue.
Operating margin	6.5%	Operating income / revenue.
EBITDA margin	8.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.5%	Pre-tax income / revenue.
Net margin	37.2%	Net income / revenue.
FCF margin	25.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.6%	Cash from operations / revenue.
Effective tax rate	-335.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	79.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	19.2%	Net income / average total assets.
R&D / revenue	24.8%	Research and development expense / revenue.
Stock-based pay / revenue	16.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	18.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	18.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-2.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	89.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	62.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-2.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	108.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	79.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	95.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-7.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.02x	Current assets / current liabilities.
Quick ratio	1.89x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.64x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	74.2%	Total liabilities / total assets.
Interest coverage	3.80x	Operating income / interest expense.
Working capital	$291.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	15.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$80.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	14.4x	Revenue / average property, plant and equipment.
Receivables turnover	6.90x	Revenue / average receivables.
Days sales outstanding	53 days	365 x average receivables / revenue.
Days payables	27 days	365 x average accounts payable / cost of revenue.
FCF conversion	68.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.33	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$6.25	Revenue / diluted weighted shares.
FCF per share	$1.60	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.66	Cash from operations / diluted weighted shares.
Book value per share	$2.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.02	Tangible book value / shares outstanding.
Cash per share	$5.94	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	164.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.11B	Share price x shares outstanding.
Enterprise value	$639.0M	Market cap + total debt - cash - short-term investments.
P/E	6.03x	Market cap / net income. Only when net income is positive.
P/S	2.24x	Market cap / revenue.
P/B	4.78x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	13.7x	Market cap / tangible book value, when positive.
P/FCF	8.76x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.44x	Market cap / cash from operations, when positive.
EV/Sales	1.29x	Enterprise value / revenue.
EV/EBIT	20.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	5.05x	Enterprise value / free cash flow, when both are positive.
FCF yield	11.4%	Free cash flow / market cap.
Earnings yield	16.6%	Net income / market cap (the inverse of P/E).
Shareholder yield	18.7%	(Dividends paid + share buybacks) / market cap.

What was PagerDuty, Inc.'s revenue in fiscal 2026?

PagerDuty, Inc. reported revenue of $492.5M for fiscal 2026, 5.4% higher than the year before.

Was PagerDuty, Inc. profitable in fiscal 2026?

Yes. Net income was $173.4M, a net margin of 35.2%.

How much free cash flow did PagerDuty, Inc. generate in fiscal 2026?

Cash from operations of $114.9M minus capital expenditures of $2.9M left free cash flow of $111.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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