실적분석 PagerDuty ($PD) Q2 FY2027 Earnings Analysis — Revenue and Adjusted EPS Beat, After-Hours Weakness
Earnings Scorecard
Revenue: $124.4 million (+0.8% YoY, $123 million estimate) ✅ Beat
EPS: $0.32 adjusted (vs. $0.31 estimate) ✅ Beat
Guidance: Newly issued — Q3 revenue $123M–$125M, adjusted EPS $0.34–$0.36 / Full-year revenue $491.5M–$496.5M
Stock reaction: After-hours -2.38% ($12.33) — as of 08-28 06:09 Korea time
The Positives
Revenue beat: $124.4 million exceeded both the high end of guidance and consensus
Adjusted profit: Adjusted EPS of $0.32 came in modestly above the $0.31 estimate
Cash & recurring revenue: Free cash flow of $32.8 million, ARR of $501 million
On a GAAP basis, the company also extended its adjusted-profit streak to five consecutive quarters. Management highlighted this as a sign that its AI-driven operations strategy is taking hold.
The Negatives
Stalled growth: Revenue grew just 0.8% year over year
Net retention at 98%: Existing-customer spend shrank slightly rather than expanding
Attributable net income decline: Net income attributable to common stockholders of $4.7 million, down from the year-ago period
Customer additions included marquee names such as Anthropic and CoreWeave, but they did not appear sufficient to lift the overall growth pace. The after-hours weakness is best read as a reaction to that slowdown.
What Management Said
CEO John DiLullo noted that revenue topped the high end of guidance, ARR crossed the $500 million threshold, and cash generation supported the picture. He emphasized that AI is changing how software is built and operated, and that PagerDuty is uniquely positioned to benefit from that shift.
Market Reaction and What to Watch Next
Both revenue and adjusted EPS exceeded estimates, but growth under 1% and net retention below 100% appear to have triggered selling pressure.
Where Q3 revenue lands within the guidance range
Whether net retention recovers back above 100%
Whether large-customer expansion accelerates under the current CEO
Disclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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