PagerDuty,Inc。(PD) 首席执行官 Jennifer Tejada 在 2020年 第二季度业绩 - 收益电话会议记录

[机器翻译] 电话会议 · 2019年09月08日 · 165 次阅读 · PagerDuty, Inc.

PagerDuty, Inc. (NYSE:PD) Q2 2020 Results Earnings Conference Call September 5, 2019 5:00 PM ET

PagerDuty,Inc。(纽约证券交易所代码:[PD])2020年第二季度业绩收益电话会议2019年9月5日美国东部时间下午5:00

公司参与者

Stacey Finerman - VP, IR
Jennifer Tejada - CEO
Howard Wilson - CFO

  • Stacey Finerman - IR副总裁
  • Jennifer Tejada - 首席执行官
  • Howard Wilson - 首席财务官

电话会议参与者

Sterling Auty - JPMorgan
Matt Hedberg - RBC Capital Markets
Rob Owens - KeyBanc Capital Markets
Sanjit Singh - Morgan Stanley
Bhavan Suri - William Blair
Rishi Jaluria - D.A. Davidson

  • Sterling Auty - 摩根大通
  • 马特赫德伯格 - 加拿大皇家银行资本市场
  • Rob Owens - KeyBanc Capital Markets
  • Sanjit Singh - 摩根士丹利
  • Bhavan Suri - 威廉布莱尔
  • Rishi Jaluria - D.A.戴维森

会议主持员

Good afternoon. My name is Camille, and I'll be your conference operator today. At this time, I would like to welcome everyone to the PagerDuty Second Quarter 2020 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question-and-answer session. [Operator Instructions] Thank you.
I will now turn the conference over to Stacey Finerman. Please go ahead.

下午好。 我的名字是卡米尔,今天我将成为你的会议运营商。 在这个时候,我想欢迎大家参加PagerDuty 2020年第二季度收益电话会议。 所有线路都已静音以防止任何背景噪音。 发言者发言后将会有一个问答环节。 [操作员说明]谢谢。

我现在将会议转交给Stacey Finerman。 请继续。

Stacey Finerman

Stacey Finerman

Good afternoon, and thank you for joining us on today's conference call to discuss PagerDuty's second quarter financial results. With me on today's call are Jennifer Tejada, PagerDuty's Chairperson and Chief Executive Officer; and Howard Wilson, the company's Chief Financial Officer.
Statements made on this call include forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made, and we undertake no obligation to update these forward-looking statements.
In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their closest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation between GAAP and non-GAAP financial measures is available in our earnings release.
Further information on these and other factors that could affect the company's financial results are included in filings we make with the Securities and Exchange Commission from time to time, including the section titled Risk Factors and the company's most recent quarterly Form 10-Q previously filed with the SEC.
Now I'd like to turn the call over to our CEO, Jennifer Tejada. Jennifer?

下午好,感谢您参加今天的电话会议,讨论PagerDuty的第二季度财务业绩。我今天的电话会议是PagerDuty主席兼首席执行官Jennifer Tejada;和公司首席财务官霍华德威尔逊。

本次电话会议的声明包括前瞻性声明。前瞻性陈述涉及已知和未知的风险和不确定性,可能导致我们的实际结果,业绩或成就与前瞻性陈述中明示或暗示的内容存在重大差异。前瞻性陈述仅代表我们的管理层的信念和假设,仅在此类陈述发布之日,我们不承担更新这些前瞻性陈述的义务。

此外,在今天的电话会议中,我们将讨论非GAAP财务指标。这些非GAAP财务指标是根据GAAP编制的财务业绩衡量指标的补充,而非替代或优于财务执行指标。与使用这些非GAAP财务指标相比,它们与最接近的GAAP等价物相比存在许多限制。例如,其他公司可能以不同方式计算非GAAP财务指标,或者可能使用其他指标来评估其绩效,所有这些都可能会降低我们的非GAAP财务指标作为比较工具的实用性。我们的收益发布中提供了GAAP与非GAAP财务指标之间的对账。

有关这些以及可能影响公司财务业绩的其他因素的进一步信息包含在我们不时向美国证券交易委员会提交的文件中,包括标题为风险因素的部分以及该公司最近提交的季度表格10-Q。 SEC。

现在我想把这个电话转给我们的CEO Jennifer Tejada。珍妮弗?...

Jennifer Tejada

Jennifer Tejada...

Thank you, Stacey, and thank you, everyone, for joining us this afternoon for our second quarter earnings call. I'm pleased to welcome Stacey Finerman, our new VP of Investor Relations, to the PagerDuty team. Great to have you here, Stacey.
Q2 was another strong quarter, demonstrating our leadership in a rapidly growing category we pioneered: digital operations management. It was our first $40 million revenue quarter driven by our multiple engines for growth: new customers, new users, new product adoption and international expansion.
Revenue grew 45% year-over-year with continued broad demand across industries, verticals and geographies. We closed the quarter with 12,045 total customers, adding 365 net new customers.
Q2 is also a record quarter for expansion of customers spending over $100,000, increasing by 32, totaling 274. This represents an increase of 51% year-over-year, further validating our success in enterprise and in market segments.
We grew efficiently, sustaining best-in-class non-GAAP gross margins of 86%. Our success is tied directly to the success of our users and our customers, and we appreciate and respect the trust they place in our team and in PagerDuty.
During the quarter, we saw robust demand for our platform as well as strong adoption of our new products, Event Intelligence, Modern Incident Response, Visibility and Analytics. Demand is driven by a number of macro trends, three of which I will focus on today. First, the amount of time the consumer will wait when a brand experience is not perfect is shrinking to less than 3 seconds.
Second, digital transformation comes with the challenges of proliferation in technology, apps and signals stemming from cloud computing, distributed architectures and IT modernization. This creates hugely complex technology ecosystems that need to be managed to deliver on customers' expectations.
And third, the developer-influenced modern workforce requires intuitive apps that work together seamlessly, scalably and securely and support employees' needs in today's dynamic real-time environment.
Traditional incident management solutions don't address the challenges that come with these trends. Many were designed prior to cloud computing in a time of sequential command-and-control workloads. They often require manual integration, heavy investments to deploy and can't support today's agile work environment.
PagerDuty is different. Our platform is designed for additional disruptors as well as the world's largest enterprises. It was architected for real-time, cross-functional work and delivers proven resiliency at scale.
10 years ago, we made a big bet that DevOps methodology would become mainstream and created a cloud native On-Call Management solution for DevOps teams. Our bet paid off as software engineers voted with their credit cards. Today, our on-call solution is the entry point for our platform, which is now enhanced with automation, machine learning and intelligence substantially separating it from other solutions.

感谢Stacey,感谢大家今天下午加入我们的第二季度财报电话会议。我很高兴欢迎我们的新投资者关系副总裁Stacey Finerman加入PagerDuty团队。很高兴有你在这里,斯泰西。

Q2是另一个强劲的季度,展示了我们在快速发展的领域中的领导地位:我们开创了数字运营管理。这是我们用于增长的多个引擎推动的第一个4000万美元的收入季度:新客户,新用户,新产品采用和国际扩张。

由于各行业,垂直行业和地区的需求持续增长,收入同比增长45%。我们在该季度关闭了12,045名客户,增加了365名净新客户。

第二季度也是创纪录的季度,客户支出超过10万美元,增加了32个,共计274个。这比去年同期增长了51%,进一步证实了我们在企业和细分市场的成功。

我们有效地发展,保持了最佳的非GAAP毛利率86%。我们的成功与我们的用户和客户的成功直接相关,我们感谢并尊重他们对我们团队和PagerDuty的信任。

在本季度,我们看到了对我们平台的强劲需求以及我们新产品,事件情报,现代事件响应,可见性和分析的强烈采用。需求是由一系列宏观趋势驱动的,其中三个我将在今天关注。首先,当品牌体验不完美时,消费者将等待的时间缩短到不到3秒。

其次,数字化转型伴随着云计算,分布式架构和IT现代化带来的技术,应用和信号激增的挑战。这创造了非常复杂的技术生态系统,需要进行管理以满足客户的期望。

第三,受开发人员影响的现代劳动力需要直观的应用程序,这些应用程序可以无缝,可扩展和安全地协同工作,并在当今动态的实时环境中支持员工的需求。

传统的事件管理解决方案无法解决这些趋势带来的挑战。许多是在顺序命令和控制工作负载之前的云计算之前设计的。它们通常需要手动集成,需要大量投资才能部署,并且无法支持当今敏捷的工作环境。

PagerDuty是不同的。我们的平台专为其他破坏者以及世界上最大的企业而设计。它专为实时,跨职能工作而设计,可大规模提供经过验证的弹性。

10年前,我们大力打赌DevOps方法将成为主流,并为DevOps团队创建了一个云原生的On-Call Management解决方案。当软件工程师用他们的信用卡投票时,我们的赌注得到了回报。今天,我们的随叫随到解决方案是我们平台的切入点,现在通过自动化,机器学习和智能将其与其他解决方案基本分离,增强了解决方案。

When customers add enhanced products on top of the PagerDuty platform, they gain significant value by shifting from basic coordination of on-call rotation to proactive and automated orchestration, incident management and real-time operations management.
Automation is a key focus area in our new products. A public mobile payments company with a point-of-sale solutions used by millions of businesses uses PagerDuty platform across all of its engineering teams. This quarter, the company added Event Intelligence, which combines machine and human response data using machine learning to intelligently group cohorts and automatically route them to the right teams. As a result, the customer has reduced incidents by 42%, saving hours of unplanned work, improving customer experience, protecting revenue and reducing operation costs.
IG Group, a global fintech leader in derivative, also adapted Event Intelligence this quarter, reducing their work by 58% and thereby reducing the number of the services employed. We estimate their projected annual savings to be over $500,000.
We recently commissioned our first real-time work study, which revealed that 51% of executives and employees find out about incidents from customers themselves when they complain or tweet about a bad experience. This causes hours of unplanned stressful work as multiple teams scramble in silos to address each incident.
Our Modern Incident Response solution addresses these problems by automatically detecting issues and intelligently orchestrating cross-functional team response, helping teams to ensure a better customer experience.
IHS Markit is a $26 billion public, global information company providing data, insight and software principally across three major industries: energy and natural resources, financial services and transportation.
This quarter, IHS Markit replaced a point solution that did not scale effectively with PagerDuty platform. The company is deploying our platform and Modern Incident Response across nearly 1,000 users.
It's also important that companies can determine the business impact of unplanned work and customer-impacting incidents on their bottom line. According to our survey, the cost of unplanned work is increasing, and 86% states that this results in less time to innovate. Team states burnout, lost productivity and less development time which, in turn, impact competitiveness and creates brand risk.
Other companies cannot understand the real-time business impact of incidents. Our Visibility product translates the immediate impact of incidents like outages and disruptions into business outcomes. No other product in the market consolidates a real-time holistic view of operation and correlates people, technology, services and business impact in the moments that matter.
PagerDuty analytics provides operational scorecards and customizable dashboards so companies can apply a proactive approach to managing digital operations based on how teams have historically responded to major issues.

当客户在PagerDuty平台上添加增强型产品时,他们通过从待命轮换的基本协调转变为主动和自动编排,事件管理和实时操作管理,获得了巨大的价值。

自动化是我们新产品的重点关注领域。拥有数百万家企业使用的销售点解决方案的公共移动支付公司在其所有工程团队中使用PagerDuty平台。本季度,该公司增加了Event Intelligence,它利用机器学习将机器和人工响应数据结合起来,智能地将群组分组并自动将它们路由到正确的团队。因此,客户将事故减少了42%,节省了数小时的计划外工作,改善了客户体验,保护了收入并降低了运营成本。

全球金融科技衍生品行业领导者IG集团本季度也调整了事件情报,将其工作量减少了58%,从而减少了所用服务的数量。我们估计他们预计的每年节省超过50万美元。

我们最近委托进行了第一次实时工作研究,结果显示51%的高管和员工在抱怨或发布有关糟糕经历的推文时会发现客户自己发生的事件。这导致数小时的计划外压力,因为多个团队在孤岛中争抢解决每个事件。

我们的现代事件响应解决方案通过自动检测问题和智能地协调跨职能团队响应来解决这些问题,帮助团队确保更好的客户体验。

IHS Markit是一家价值260亿美元的公共全球信息公司,主要提供三大行业的数据,洞察力和软件:能源和自然资源,金融服务和运输。

本季度,IHS Markit取代了一个无法通过PagerDuty平台有效扩展的点解决方案。该公司正在为近1,000名用户部署我们的平台和现代事件响应。

同样重要的是,公司可以确定计划外工作和影响客户的事件对其底线的业务影响。根据我们的调查,计划外工作的成本正在增加,86%表示这会导致创新时间缩短。团队表示职业倦怠,生产力下降和开发时间缩短,反过来影响竞争力并造成品牌风险。

其他公司无法理解事件对实时业务的影响。我们的可见性产品将中断和中断等事件的直接影响转化为业务成果。市场上没有任何其他产品可以整合实时的整体运营视图,并在重要时刻关联人员,技术,服务和业务影响。

PagerDuty分析提供运营记分卡和可自定义的仪表板,因此公司可以根据团队历史上对主要问题的响应方式,采用主动方法管理数字运营。

The scorecards provide a curated approach to improve team health, technology service health and business outcomes like total cost of incidents, response cost to the business and predictive people metrics to detect response of the team. This is an industry-first and a significant differentiator for PagerDuty.
We are excited by the broad visibility of PagerDuty's platform. This quarter, we discovered a number of new use cases where our customers have applied our platform.
A late-stage, hydro fintech company that facilitates digital payments for millions of businesses worldwide uses PagerDuty across many of its teams. Having started with developers, they then expanded their users to legal, security and payment operations teams.
The payment operations team use PagerDuty to coordinate with global banking partners in real time, ensuring successful transaction. Physical security teams are on PagerDuty for real-time response to physical security issues. The legal teams manage time-sensitive requests from law enforcement, and SecOps teams are on PagerDuty to monitor security risk and ensure compliance.
A global recognized leader in GPS navigation and wireless devices uses PagerDuty to monitor its emergency communication devices where complete reliability is a life or death matter. The company previously used a basic monitoring service and switched to PagerDuty due to reliability concerns. After recognizing improved reliability, scale and value PagerDuty provides, the company has now expanded its use of PagerDuty to its digital transformation initiatives.
Another notable new use case led by our PagerDuty.org initiative was Code for America, a nonprofit that focuses on reforming government services to make them simple, easy to use and accessible to all Americans. They are currently using PagerDuty to support their GetCalFresh program, which improves access to the Supplemental Nutrition Assistance Program, or SNAP, more commonly known as food stamps. GetCalFresh has digitized and streamlined the process for applying for SNAP, reducing the application time from 82% from 45 minutes to 8 minutes and has helped over 1 million Californians gain access to food stamps.
From a product perspective, this quarter, we launched a number of new capabilities that help our customers more quickly and accurately respond to issues and opportunities that impact revenue brands and customer experience. In July, we launched Business Response, which advances traditional status page capabilities so responders can seamlessly update business stakeholders on business service impacts and real-time recovery progress in an intuitive, fully automated way. This allows responders to drive faster evolution and enable stakeholders to proactively manage customers' needs.
Similarly, in Q2, we enhanced our search capability to provide improved contacts for IT and DevOps team so they can more easily navigate large organizations to find the right subject matter experts team and escalation policies during incidents and respond faster in the moments that matter.

记分卡提供了一种策划方法,可以改善团队健康状况,技术服务健康状况和业务成果,例如事件总成本,业务响应成本以及检测团队响应的预测人员指标。这是PagerDuty的行业优先和显着的差异化因素。

我们对PagerDuty平台的广泛可见性感到兴奋。本季度,我们发现了许多新用例,我们的客户已经应用了我们的平台。

为全球数百万家企业提供数字支付的后期水电金融科技公司在其许多团队中使用PagerDuty。从开发人员开始,他们将用户扩展到法律,安全和支付运营团队。

支付运营团队使用PagerDuty实时协调全球银行合作伙伴,确保成功交易。物理安全团队正在使用PagerDuty来实时响应物理安全问题。法律团队管理来自执法部门的时间敏感请求,SecOps团队正在使用PagerDuty来监控安全风险并确保合规性。

全球公认的GPS导航和无线设备领导者使用PagerDuty监控其紧急通信设备,其中完全可靠性是生死攸关的问题。该公司之前使用过基本的监控服务,并因可靠性问题而转为PagerDuty。在认识到PagerDuty提供的可靠性,规模和价值提高后,该公司现在已将PagerDuty的使用扩展到其数字化转型计划。

由我们的PagerDuty.org计划领导的另一个值得注意的新用例是Code for America,这是一个非营利组织,专注于改革政府服务,使其简单,易于使用,并且可供所有美国人使用。他们目前正在使用PagerDuty来支持他们的GetCalFresh计划,该计划改善了对补充营养援助计划(SNAP)的访问,这通常被称为食品券。 GetCalFresh已经数字化并简化了申请SNAP的流程,将申请时间从45分钟缩短到了45分钟到8分钟,并帮助超过100万加利福尼亚人获得了食品券。

从产品的角度来看,本季度,我们推出了一系列新功能,帮助我们的客户更快,更准确地回应影响收入品牌和客户体验的问题和机遇。 7月,我们推出了业务响应,它提升了传统的状态页面功能,因此响应者可以以直观,完全自动化的方式无缝地更新业务利益相关者的业务服务影响和实时恢复进度。这使响应者能够推动更快的发展,并使利益相关者能够主动管理客户的需求。

同样,在第二季度,我们增强了搜索功能,为IT和DevOps团队提供了更好的联系,以便他们可以更轻松地导航大型组织,以便在事件发生期间找到合适的主题专家团队和升级政策,并在重要时刻做出更快的响应。

To further build on our market leadership, we continue to deepen our leadership bench. During the quarter, we appointed a new CMO, Julie Herendeen. Julie comes to PagerDuty having led large marketing teams at companies, including Uber, Dropbox, Yahoo! and Lookout, and now leads our efforts to scale our brands and continue to build our demand generation and growth markets. As we expand our business, we will continue to invest proactively in leadership to support our growth. In the coming quarters, we anticipate adding a Chief People Officer and a Chief Revenue Officer.
Overall, we had another strong quarter, and I'm proud of what our team has accomplished to benefit our users, customers and partners. We are encouraged by our continued strength in enterprise and rapid adoption of add-on products. We continue to see growth in expansion, geographies, new use cases and new products aided by our self-serve and high-velocity sales motion.
Finally, I'd like to highlight our fourth annual user conference summit, which takes place on September 23 through the 25th where we will be hosting over 1,000 developers and technology executives. We are excited to host industry leaders, including Jeff Lawson from Twilio, Eric Yuan of Zoom, Cynthia Stoddard of Adobe and investor Andre Iguodala as well as breakout sessions led by leaders and practitioners innovating with the PagerDuty platform. We look forward to an action-packed week with our community, including new product innovation and best practices we can all learn from.
With that, I'd now like to turn the call over to our CFO, Howard, who'll walk through the financial results. Howard?

为了进一步巩固我们的市场领导地位,我们将继续深化我们的领导力。在本季度,我们任命了一位新的首席营销官Julie Herendeen。 Julie来到PagerDuty,曾在Uber,Dropbox,Yahoo!等公司领导过大型营销团队。和Lookout,现在我们努力扩大我们的品牌,并继续建立我们的需求生成和增长市场。随着我们业务的扩展,我们将继续积极投资领导,以支持我们的发展。在接下来的几个季度中,我们预计会增加一名首席人事官和一名首席营收官。

总体而言,我们还有另一个强劲的季度,我为我们的团队所取得的成就感到自豪,让我们的用户,客户和合作伙伴受益。我们在企业中的持续优势和附加产品的快速采用使我们感到鼓舞。通过我们的自助服务和高速销售活动,我们继续看到扩张,地理位置,新用例和新产品的增长。

最后,我想强调我们的第四届年度用户大会峰会,该峰会将于9月23日至25日举行,届时我们将主持1,000多名开发人员和技术主管。我们很高兴能够接待行业领导者,包括Twilio的Jeff Lawson,Zoom的Eric Yuan,Adobe的Cynthia Stoddard以及投资人Andre Iguodala,以及由PagerDuty平台创新的领导者和从业者领导的分组会议。我们期待与我们的社区一起度过充满动感的一周,包括我们都可以从中学习的新产品创新和最佳实践。

有了这个,我现在想把这个电话转给我们的首席财务官霍华德,他将完成财务业绩。霍华德?

Howard Wilson

霍华德威尔逊

Thanks, Jennifer. We are pleased with our second quarter fiscal 2020 results. Our revenue for the second quarter grew 45% year-over-year to $40.4 million, beating the high end of our guidance. New customer acquisition, new product adoption and healthy growth in international geographies all contributed to our strong results.
Non-GAAP gross margin remains strong at 85.7%, and we exceeded our non-GAAP EPS guidance by $0.02, coming in at a non-GAAP net loss of $0.07 per share.
We ended the quarter with 12,045 customers, up 15% year-over-year; and 274 customers with an annual recurring revenue above $100,000, up 51% year-over-year, demonstrating our strong growth in the enterprise segment. One such customer is a global Fortune 500 company which provides global human resources management software and services.
We landed a 7 figure multi-year deal with them this quarter. They use PagerDuty across multiple teams, both a modern DevOps team and a traditional IT and OT team. They use PagerDuty to improve communication across teams, increase the benefit productivity and increase total visibility into the health of all services.
Other notable wins in the quarter included companies in the highly regulated financial services sector where scalability and reliability are both factors in deepening their relationship with us. As Jen noted, our platform was built for digital disruptors as well as the world's largest enterprises. These expansions are proof points of the strong demand for real-time operations.
Our dollar-based net revenue retention for the quarter was 132%. In the past 8 quarters, our net revenue retention has been above 130%. And while we expect this number to vary quarter-to-quarter, 132% is a strong number for both our industry and our company.
Our international revenue grew 59% year-over-year and now represents 22% of our total revenue. We continue to be excited about our early expansion efforts in EMEA and APJ, and our revenue growth in these regions continue to be strong.
In the quarter, we hosted 2 developer and user conferences, London Connect and Sydney Connect. I was pleased to attend London Connect where our customers shared their stories with several hundred attendees.
One of those was Monzo Bank. Monzo is a disruptor in the financial services industry and has built a mobile-only bank. Their business is 100% dependent on digital services, and they use PagerDuty to support a seamless experience for their more than 2.8 million customers.
Cambridge Cognition is another customer that was featured at London Connect using our platform for a new use case: clinical work. They're a digital neuroscience company developing validated software technologies to enhance research into brain health and mental well-being.
In addition to using PagerDuty to monitor the health and status of its IT infrastructure, the company utilizes PagerDuty to help monitor suicidal ideation, immediately notifying clinicians and sponsors to take action to prevent self-harm in patients. The need to acknowledge the call and using escalation policies ensures that the message is actioned.

谢谢,詹妮弗。我们对2020财年第二季度业绩感到满意。我们第二季度的收入同比增长45%至4040万美元,超过了我们指导的高端。新客户的获得,新产品的采用以及国际地区的健康发展都有助于我们取得强劲的成果。

非美国通用会计准则毛利率保持强劲,为85.7%,我们超过非美国通用会计准则每股盈利预测0.02美元,非GAAP净亏损为每股0.07美元。

我们在本季度结束时共有12,045名客户,同比增长15%;年度经常性收入超过10万美元的274位客户,同比增长51%,显示了我们在企业领域的强劲增长。其中一个客户是全球财富500强企业,提供全球人力资源管理软件和服务。

本季度,我们与他们达成了7位数的多年合约。他们在多个团队中使用PagerDuty,既有现代的DevOps团队,也有传统的IT和OT团队。他们使用PagerDuty来改善团队之间的沟通,提高福利效率并提高对所有服务健康状况的总体可视性。

本季度其他值得注意的胜利包括高度监管的金融服务领域的公司,其可扩展性和可靠性是加深与我们关系的两个因素。正如Jen所说,我们的平台是为数字颠覆者以及世界上最大的企业而建立的。这些扩展是对实时操作的强烈需求的证据。

本季度以美元为基础的净收入保留率为132%。在过去的8个季度中,我们的净收入保持率已超过130%。虽然我们预计这个数字按季度变化,但对于我们的行业和公司来说,132%是一个强大的数字。

我们的国际收入同比增长59%,现在占我们总收入的22%。我们继续对我们在EMEA和APJ的早期扩张努力感到兴奋,我们在这些地区的收入增长仍然强劲。

在本季度,我们举办了2次开发者和用户会议,伦敦连接和悉尼连接。我很高兴参加伦敦联系,我们的客户与数百名与会者分享了他们的故事。

其中一个是Monzo Bank。 Monzo是金融服务行业的颠覆者,并且已经建立了一家仅限移动银行。他们的业务100%依赖于数字服务,他们使用PagerDuty为超过280万客户提供无缝体验。

Cambridge Cognition是伦敦Connect的另一个客户,使用我们的平台进行新的用例:临床工作。他们是一家数字神经科学公司,开发经过验证的软件技术,以加强对大脑健康和心理健康的研究。

除了使用PagerDuty监控其IT基础设施的健康状况外,该公司还利用PagerDuty帮助监控自杀意念,立即通知临床医生和赞助商采取措施防止患者自残。确认呼叫和使用升级策略的需要可确保对消息进行操作。

With that, I will turn to the detailed financial results. I'm providing these results on a non-GAAP basis. Our GAAP financial results, along with the reconciliation between GAAP and non-GAAP results, can be found in our earnings release.
In Q2, non-GAAP gross margin was 85.7% and was in line with the second quarter of last year. Our cloud native architecture, DevOps approach to production and programmatic approach to customer support and success drives our efficient operating model.
Our strong gross margins create operating leverage and allow us to make investments in the long-term growth of our business. We have run our business on gross margins between 84% and 86%, and we expect gross margins to stay within this range for the remainder of the fiscal year.
Turning now to operating expenses. While we remain focused on scaling the operation to improve our leverage, we anticipate continuing to make investments for growth. Over the long term, we anticipate that our revenue will grow at a faster rate than our total operating expenses, which will improve operating margins over time. Operating expenses this quarter reflected anticipated investments in expanding our sales force and go-to-market programs.
Second quarter non-GAAP operating expenses were $41.7 million compared to $28.1 million a year ago. This 48% increase year-over-year was driven by investments made in line with our go-to-market strategy, continued product innovation and infrastructure to support being a public company.
Non-GAAP research and development expenses for Q2 were $10.2 million compared to $7.4 million in the same year ago period, representing an increase of 38% year-over-year. Innovation has been and will continue to be a top priority for us as we continue to move up the value chain in real-time operations. We expect R&D to increase for the remainder of the year but remain roughly the same as a percentage of revenue.
Non-GAAP sales and marketing expenses for Q2 were $21.5 million and grew by 49% compared to Q2 of fiscal 2019. As we discussed on our Q1 earnings call, we made early investments in the first half of the year to increase our sales capacity.
We expect to expand our sales force more modestly for the remainder of the year. And over time, we would expect to see improved operating leverage as our subscription revenue grows.
From a marketing perspective, we will host our annual industry conference, PagerDuty summit, in September, which is a significant investment in the quarter. We will be making additional investments in Q3 program spend to promote our brand, which includes above-the-line advertising, and this will continue into Q4.
Non-GAAP general and administrative expenses for Q2 were $10.1 million for the quarter ended -- and increased 60% year-over-year. As I mentioned in our Q1 earnings call, the year-over-year growth in G&A was driven by investments in head count and systems that we made in anticipation of becoming a public company.
G&A expenses in Q2 was sequentially flat relative to Q1 and decreased as a percentage of revenue. We expect G&A expenses to increase slightly over the remainder of the year but to continue to decrease as a percentage of revenue.

有了这个,我将转向详细的财务结果。我是在非GAAP的基础上提供这些结果的。我们的GAAP财务结果以及GAAP和非GAAP结果之间的对账可以在我们的收益发布中找到。

第二季度,非美国通用会计准则毛利率为85.7%,与去年第二季度持平。我们的云原生架构,DevOps生产方法以及客户支持和成功的程序化方法推动了我们的高效运营模式。

我们强劲的毛利率创造了经营杠杆,使我们能够对我们业务的长期增长进行投资。我们的毛利率在84%至86%之间,我们预计毛利率将在本财年的剩余时间内保持在此范围内。

现在转到运营费用。虽然我们仍然专注于扩大业务以提高杠杆率,但我们预计将继续为增长进行投资。从长远来看,我们预计我们的收入将以比总运营支出更快的速度增长,这将提高运营利润率。本季度的运营支出反映了对扩大销售队伍和上市计划的预期投资。

第二季度非GAAP运营支出为4170万美元,而一年前为2810万美元。与去年市场战略相关的投资,持续的产品创新以及支持成为上市公司的基础设施,推动了48%的同比增长。

第二季度的非GAAP研发费用为1,020万美元,而去年同期为740万美元,同比增长38%。随着我们继续在实时运营中提升价值链,创新已经并将继续成为我们的首要任务。我们预计研发将在今年剩余时间内增加,但与收入的百分比保持大致相同。

第二季度的非GAAP销售和营销费用为2150万美元,与2019财年第二季度相比增长了49%。正如我们在第一季度的财报电话会议上讨论的那样,我们在今年上半年进行了早期投资以增加销售能力。

我们预计今年剩余时间内我们的销售人员将更加适度扩大。随着时间的推移,我们预计随着订阅收入的增长,运营杠杆会有所改善。

从营销角度来看,我们将于9月举办年度行业会议,PagerDuty峰会,这是本季度的重大投资。我们将对Q3计划支出进行额外投资,以推广我们的品牌,其中包括线上广告,并将持续到第四季度。

截至第二季度,非GAAP一般和管理费用为1010万美元,同比增长60%。正如我在第一季度财报电话会议中所提到的,G&A的同比增长是由于我们为成为上市公司而进行的人员和系统投资所推动的。

第二季度的G&A费用与第一季度相比持平,并且占收入的比例下降。我们预计G&A费用将在今年剩余时间内略有增加,但将继续减少占收入的百分比。...

Our non-GAAP operating loss in the quarter was $7.1 million compared to a loss of $4.2 million in the same quarter last year. Our non-GAAP operating margin was negative 17.7% in Q2 and negative 15.2% in the same period of last year. The decrease in operating margin is largely due to investments in G&A to support becoming a public company. Over the longer term, we expect improvement in operating margin.
Non-GAAP net loss for the second quarter was $5.3 million or a net loss of $0.07 per basic share compared to a non-GAAP net loss of $3.8 million or a loss of $0.18 per share in the second quarter of last year.
Turning to the balance sheet. We ended the quarter with $341 million in cash, cash equivalents and investments, up $213 million from the end of the fiscal year 2019. This was primarily driven by proceeds raised in our initial public offering, slightly offset by our year-to-date operating losses.
We generated $2.2 million in operating cash flow in Q2 compared to having used $4.7 million in the prior year primarily due to timing in working capital changes. Free cash flow was $1.3 million in Q2 compared to negative $5 million last year. Free cash flow margin was positive 3.3% compared to negative 18.1% in Q2 last year.
In the second half of the year, we are planning a number of capital expenditures related to our office build-out. And in the short term, we don't expect positive operating cash flow or positive free cash flow.
While we expect to make continued progress towards sustainable free cash flow in the long term, it may not be in a linear trajectory given period-to-period fluctuations in billings and working capital and capital expenditure as we expand our U.S. and international offices.
Moving on to guidance for the third quarter of fiscal 2020 and the full fiscal year 2020. Revenue is expected to be in the range of $41.5 million to $42.5 million for the third fiscal quarter and would see our full year fiscal 2020 end in the range of $162 million to $164 million. Non-GAAP net loss per share is expected to be in the range of $0.09 to $0.10 for the third fiscal quarter and in the range of $0.36 to $0.37 for the full fiscal year 2020.
Bottom line forecast include the impact of the cost of our user conference in Q3 and program spend for above-the-line advertising. Basic shares outstanding for Q3 and the full year fiscal 2020 are expected to be 76 million and 65 million, respectively.
With that, Jennifer and I are happy to take any of your questions. Operator?

我们在本季度的非GAAP运营亏损为710万美元,而去年同期为亏损420万美元。我们的非美国通用会计准则营业利润率在第二季度为负17.7%,与去年同期相比为负15.2%。营业利润率下降主要是由于投资G&A以支持成为上市公司。从长期来看,我们预计营业利润率将有所改善。

与去年第二季度的非GAAP净亏损380万美元或每股亏损0.18美元相比,第二季度非GAAP净亏损为530万美元或每基本份额净亏损0.07美元。

转向资产负债表。截至2019财年末,我们以3.41亿美元的现金,现金等价物和投资结束了这一季度的结果。这主要是由于我们首次公开募股所筹集的收益,略微被我们今年迄今为止的运营所抵消。损失。

我们在第二季度产生了220万美元的运营现金流,而上一年的运营现金流为470万美元,这主要是由于营运资金变动的时间安排。第二季度自由现金流为130万美元,而去年则为负500万美元。自由现金流利润率为正3.3%,而去年第二季为负18.1%。

在今年下半年,我们正计划与办公室扩建相关的一些资本支出。而在短期内,我们预计不会出现正的经营现金流或正的自由现金流。

虽然我们期望在长期内实现可持续自由现金流的持续进展,但随着我们扩大美国和国际办事处的规模,考虑到账单和营运资本以及资本支出的逐期波动,它可能不会处于线性轨道。

转到2020财年第三季度和2020财年全年的指导。第三财季的收入预计将在4150万美元到4250万美元之间,并且我们的2020财年全年将在1.62亿美元至1.64亿美元。非GAAP每股净亏损预计在第三财季为0.09美元至0.10美元,在2020财年全年为0.36美元至0.37美元。

底线预测包括第三季度用户会议成本和上线广告计划支出的影响。第三季度和2020财年全年的流通股预计分别为7600万和6500万。

有了这个,珍妮弗和我很乐意接受你的任何问题。操作?

问答环节

[Operator Instructions] And our first question comes from Sterling Auty with JPMorgan.

[操作员说明]我们的第一个问题来自与摩根大通的Sterling Auty。

Sterling Auty...

Hi, guys. So guys, net retention rate kind of came down. I know it does fluctuate, vary per quarter, but trying to see if pricing is kind of becoming an issue with the competition and how the level of expansion deals look in the quarter versus the last couple of quarters. Thanks.

嗨,大家好。 所以,伙计们,净保留率有点下降。 我知道它确实有波动,每季度变化,但试图看看定价是否会成为竞争的问题以及本季度扩张交易的水平与过去几个季度的关系。 谢谢。

Howard Wilson

霍华德威尔逊

Yes. So in terms of dollar-based net retention rate, the 132 number is -- 132% is a strong number for our industry and for our company. And we do expect to see that fluctuate from quarter-to-quarter. A couple of points to note though with respect to Q2, we did see a couple of our primary competitors churn or downgrade within the quarter.
And I think one other characteristic is that this was a quarter for us of intense hiring. In fact, we -- from a sales team perspective, we have our highest proportion of our sales force ramping in this quarter compared to prior years as we front loaded our hiring in H1.

是。 因此,就基于美元的净保留率而言,132个数字是 - 132%对于我们的行业和我们公司来说是一个强大的数字。 我们确实预计会出现季度波动。 关于第二季度,我们确实看到了几个主要竞争对手流失或降级的几点。

而且我认为另一个特点是,对于我们来说,这是一个强烈招聘的四分之一。 事实上,我们 - 从销售团队的角度来看,我们在本季度的销售人员比例与前几年相比增长最多,因为我们在上半年的招聘工作中占据了上风。

Sterling Auty...

Got it. Thanks for taking the question. I appreciate it.

得到它了。 谢谢你提出这个问题。 我很感激。...

会议主持员

And our next question comes from Matt Hedberg with RBC Capital Markets.

我们的下一个问题来自RBC Capital Markets的Matt Hedberg。

Matt Hedberg

Hey, guys. Thanks for taking my question. Jen, on the top of the new product attach, you launched a number of products over the past year. You talked about another one in this call, a couple examples.
I am curious, when you look at these family of products, was there one that we should be keeping an eye on more in terms of attach or just sort of overall demand from an add-on perspective?

大家好。 谢谢你提出我的问题。 Jen,在新产品附件的顶部,您在过去一年中推出了许多产品。 你在这次电话会谈中讨论了另一个例子。

我很好奇,当你看到这些产品系列时,是否有一个我们应该更多地关注附加或者从附加角度来看整体需求?

Jennifer Tejada

Jennifer Tejada...

Hi, Matt. Good to hear from you. We were really encouraged by the new product adoption that we're seeing. Event Intelligence and Modern Incident Response in particular are products that are sort of the natural next step for a customer that has already automated their on-call environment, is looking to use beyond simply improving their response to becoming more proactive and more predictive by leveraging machine learning on automation.
And we also see that some of our products suit the more senior personas whereas other products suit sort of all of the developer and operating community. So there are sort of bigger horses for different courses. But the next sort of logical step, I think, for our customers as they add on product is Modern Incident Response and Event Intelligence.

嗨,马特。 很高兴听到你的消息。 我们看到的新产品采用让我们感到非常鼓舞。 事件智能和现代事件响应特别是对于已经自动化其随叫随到的环境的客户来说自然是下一步的产品,希望通过利用机器来简单地改进他们的响应以变得更加主动和更具预测性 学习自动化。

我们还看到,我们的一些产品适合更高级的人物角色,而其他产品适合所有开发人员和运营社区。 因此,对于不同的课程,有一些更大的马匹。 但我认为,对于我们的客户而言,他们添加产品的下一步逻辑步骤是现代事件响应和事件智能。

Matt Hedberg

That's great. And then, Howard, one for you. I know you talked - we talked a lot about trailing 12 month billings as probably the best indicator. But technically, the billings still, I think, it accelerated sequentially. It looked like deferred revenue is pretty strong this quarter.
Can you remind us again how we should think about calculated billings given your monthly contracts and the fact that a lot of your customers co-term deals?

那很棒。 然后,霍华德,一个适合你。 我知道你说过 - 我们谈了很多关于追踪12个月的账单可能是最好的指标。 但从技术上讲,我认为,这个账单仍在顺序加速。 看起来本季度递延收入非常强劲。

您是否可以再次提醒我们,考虑到您的月度合同以及许多客户的共同交易事宜,我们应该如何考虑计算出的账单?...

Howard Wilson

霍华德威尔逊

Yes. Well, thanks, Matt. Obviously, we're pleased when we see some acceleration when it comes to billings [ph]. To your point, we do have a few items that do create some fluctuation in that which includes the fact that we do have 20% of our revenue coming from monthly customers who are on a month-to-month arrangement with us. And then because of the nature in which we contract, those annual customers initially do then will co-term and so end up with shorter period billings associated with those.
So we do tend to look at it in terms of on a trailing basis to get some sort of view because that helps balance out those fluctuations. But again, it's one of those things that does move around because of these factors that I mentioned including the seasonality of our renewals.

是。 好吧,谢谢,马特。 显然,当我们看到一些关于账单的加速时,我们很高兴[ph]。 在您看来,我们确实有一些项目会产生一些波动,其中包括我们确实有20%的收入来自与我们按月安排的月度客户。 然后,由于我们签订合同的性质,那些年初的客户最初会这样做,因此会产生与此相关的较短期间的账单。

因此,我们倾向于在尾随的基础上查看它以获得某种观点,因为这有助于平衡这些波动。 但同样,由于我提到的这些因素,包括续约的季节性,这些事情之一确实存在。

Matt Hedberg

Great. Thanks a lot guys.

大。 非常感谢你们。

会议主持员

And our next question comes from Rob Owens with KeyBanc Capital Markets.

我们的下一个问题来自Rob Owens和KeyBanc Capital Markets。

Rob Owens

Yeah, good afternoon. Just want to drill down a little bit again into the net renewal rates. I did hear you say churn or downgrade during the quarter with a couple of customers. Would love a little more clarity on that and where you are seeing success with the expansion. Can you help us understand how much of that is seat-based versus maybe product-based at this point?

是的,下午好。 只想再次深入了解净续订率。 我确实听到你在季度与几个客户说流失或降级。 我会更加清楚地了解这一点以及您在扩展中看到成功的地方。 您能否帮助我们了解其中有多少是基于座位的而不是基于产品的?

Jennifer Tejada

Jennifer Tejada...

I might take that question, Rob. It's nice to hear from you. So I just want to clarify what Howard alluded to was we had a couple of competitors that churned off of our platform in Q2. Yes, which is - and in a business like ours, you're always seeing some customers come and go.
But our churn number still remains best-in-class. And we're particularly proud of the expansion that we've seen in enterprise where this quarter in particular, we added 32 customers spending over $100,000 with us.
I think I'd also would just point out that we're seeing -- we continue to see strong expansion, user expansion, across teams and use cases. And that drives the majority of our growth. But we're excited about the new product adoption that we've seen. I would just underscore what we said last quarter, which is those new products are still early.
We don't guide on a revenue breakdown by those new products or share that information. But we are seeing customers very interested and excited about taking their operations maturity to the next level, starting to use machine learning and automation to their advantage to reduce the cost and time and risk associated with what we think of as modern incident response.

我可能会接受这个问题,Rob。很高兴收到你的来信。所以我只想澄清霍华德提到的是我们在第二季度有几个竞争对手离开了我们的平台。是的,这是 - 和像我们这样的企业,你总是看到一些客户来来去去。

但我们的流失率仍然是同类最佳。我们特别为我们在企业中看到的扩张感到特别自豪,特别是本季度,我们增加了32位消费超过10万美元的客户。

我想我也会指出我们正在看到 - 我们继续看到强大的扩展,用户扩展,跨团队和用例。这推动了我们的大部分增长。但我们对我们所看到的新产品采用感到兴奋。我只想强调我们上个季度所说的内容,即新产品还处于初期阶段。

我们不会指导这些新产品的收入细分或分享该信息。但我们看到客户对将其运营成熟度提升到新的水平非常感兴趣和兴奋,开始使用机器学习和自动化来优势,以减少与我们所认为的现代事件响应相关的成本,时间和风险。

Rob Owens

Great. Thanks for the clarification there on the competitor churn. Number two, with the success you're seeing internationally, can you talk about go-to-market overseas? And is there any unique localized competition or anything different from a competitive landscape?

大。 感谢有关竞争对手流失的澄清。 第二,随着您在国际上的成功,您能谈谈海外上市吗? 是否有任何独特的本地化竞争或任何与竞争格局不同的竞争?

Jennifer Tejada

Jennifer Tejada...

I think go-to-market is a lot like it is in North America. Most of the accounts we engage with are greenfields, and that's the case across our customer base. While we do see some competition from time to time, I'd emphasize that we still really see it as a large and nascent market, and a lot of customers are really just phasing through how to improve the time it takes for them to respond to demanding customer requirements when their technologies are getting more complicated.
We're really proud of the growth that we're seeing with very new teams in both EMEA and APJ. Those teams have only been in market for about 2 years. And some of the most interesting use cases are coming out of those markets.
Again, I would also just reflect that in international, very similar to North America, the adoption of our platform is very horizontal. We see it across just about every single vertical and across different kinds of teams.

我认为进入市场很像北美。 我们参与的大部分账户都是绿地,而我们的客户群就是这种情况。 虽然我们确实经常看到一些竞争,但我强调我们仍然认为它是一个庞大而新生的市场,很多客户实际上只是逐步完成如何改善他们回应的时间。 当技术变得越来越复杂时,要求客户的要求。

我们为EMEA和APJ的新团队所取得的成长感到自豪。 这些团队只在市场上待了大约2年。 一些最有趣的用例来自这些市场。

同样,我也只是反映在国际上,与北美非常相似,我们平台的采用是非常横向的。 我们在几乎所有垂直行业和不同类型的团队中都能看到它。...

Rob Owens

Great. Thanks, Jennifer.

大。 谢谢,詹妮弗。

会议主持员

[Operator Instructions] And our next question comes from Sanjit Singh with Morgan Stanley.

[操作员说明]我们的下一个问题来自摩根士丹利的Sanjit Singh。

Sanjit Singh

I just had a higher, I guess, a strategic question, Jennifer, if you will. So we see a lot of -- call it in the IT operation management space, a lot of consolidation, I suppose made a couple of acquisitions in the performance monitoring side, on application performance monitoring side. A lot of these guys are your partners. But in terms of the longer-term strategy, is the partnership strategy with the performance monitoring vendors and other parts of the ecosystem, is that the right way to go?
Or do you just start to bring in more and more and consume more of that functionality into the PagerDuty platform as you try and pursue a platform play in the enterprise? Just want to get your like sort of higher-level thoughts there.

我想,如果你愿意的话,我只是有一个更高的战略问题詹妮弗。 所以我们看到了很多 - 在IT运营管理领域称之为大量整合,我想在性能监控方面进行了几次收购,在应用程序性能监控方面。 很多这些人都是你的合作伙伴。 但就长期战略而言,与性能监控供应商和生态系统其他部分的合作战略是正确的方法吗?

或者,当您尝试在企业中寻求平台游戏时,您是否刚开始引入越来越多的功能并将更多功能消耗到PagerDuty平台中? 只想在那里得到你那种更高层次的想法。

Jennifer Tejada

Jennifer Tejada...

Thanks for the question, Sanjit. What I would say is that as we see consolidation in that particular part of the market, it really strengthens our position because it becomes increasingly important to our customers to have a central, independent, third-party correlating events from all the different points and monitoring environments within the ecosystem. And that's not limited to APN. It includes security, ticketing, physical environment, et cetera.
And so you're correct that we do partner with the APN providers. And in fact, most of them like Datadog, New Relic, AppD, Cisco are our customers as well. So there's a very strong complement. And the way to think about it is as we consume those signals long term, we're not just leveraging what's happening right now in the moment, we're leveraging 10 years of data in the platform that helps us to really correlate and make sense of what's happening regardless of how complex or how distributed the environment is.
The second thing that I would say, which is very different from the approach of the APN providers or traditional monitoring and log providers, is that we're really focused on automating and intelligently orchestrating the people and the work itself. So every time an issue or an opportunity runs on the platform, the platform is learning from it and then providing more proactive, predictive capabilities to the teams the next time around.
And that continues to be, I think, a really important part of our long-term strategy, the fact that our focus is actually on the people and helping them orchestrate and engage effectively even though their organizations and the ecosystem is getting more complex. So we continue to see ourselves as being central in that ecosystem as opposed to a bias towards one particular type of capability or a subsegment or an ops.

谢谢你的问题,Sanjit。我要说的是,当我们看到市场特定部分的整合时,它确实增强了我们的地位,因为对于我们的客户来说,从所有不同的点和监控中获得一个集中的,独立的,第三方关联事件变得越来越重要生态系统内的环境。而且这不仅限于APN。它包括安全性,票务,物理环境等。

所以你说我们确实与APN提供商合作是正确的。事实上,他们中的大多数人如Datadog,New Relic,AppD,Cisco也是我们的客户。所以有一个非常强大的补充。考虑它的方式就是我们长期消耗这些信号,我们不仅仅是利用当前正在发生的事情,我们在平台上利用10年的数据来帮助我们真正关联并有意义无论环境有多复杂或分布如何,都会发生什么。

我要说的第二件事,与APN提供商或传统监控和日志提供商的方法截然不同,是我们真正专注于自动化和智能地协调人员和工作本身。因此,每当平台上出现问题或机会时,平台就会从中学习,然后在下一次为团队提供更积极主动的预测能力。

我认为,这仍然是我们长期战略的一个非常重要的部分,即我们的重点实际上是关注人员并帮助他们有效地协调和参与,即使他们的组织和生态系统变得越来越复杂。因此,我们继续将自己视为该生态系统的核心,而不是偏向某种特定类型的能力或子区域或操作。

Sanjit Singh

Understood. And maybe just sticking with that, those sort of longer-term themes, as customers kind of move more and more to these container-based, micro services-based, Kubernetes standard type application architectures, how does that impact PagerDuty from a growth and positioning standpoint in your view?

了解。 也许只是坚持这一点,那些长期主题,随着客户越来越多地转向这些基于容器的,基于微服务的Kubernetes标准类型应用程序架构,这如何影响PagerDuty的增长和定位 你认为立场?

Jennifer Tejada

Jennifer Tejada...

So containerization so far has been great for PagerDuty because it actually creates another layer of complexity to monitor, but it doesn't replace some of the legacy environments that our customers have to contend with on a day in and day out basis.
And I would say even with some of our younger disruptive customers, because of the pace at which technology and architecture has changed, they all have to deal with some kind of hybrid mix of native, new cloud-centric technology, on-prem, traditional legacy technology and the complexity and the change that accelerates as you have people doing 10, 20, hundreds of deploys a day, make it impossible for you to manage.
So containerization's actually been a good tailwind for us alongside of cloud and the broader sort of umbrella of digital transformation where you're trying to do more, you're trying to shift your investment to innovation and application development, and yet the complex technology sitting behind it isn't getting any easier to manage. There's just a kind of different set of challenges, I would say, that come with this containerization and the distribution in architecture.

因此,到目前为止,集装箱化对于PagerDuty来说非常有用,因为它实际上创造了另一层复杂性来监控,但它并没有取代我们的客户日复一日地应对的一些遗留环境。

我会说,即使我们的一些年轻的颠覆性客户,由于技术和架构的变化速度,他们都必须处理某种混合的原生,新的以云为中心的技术,在本地,传统传统技术以及随着人们每天进行10,20,数百次部署而加速的复杂性和变化,使您无法管理。

因此,对于我们来说,集装箱化实际上是一个很好的顺风,除了云和更广泛的数字化转型之外,你还在尝试做更多的事情,你正在努力将你的投资转向创新和应用程序开发,而复杂的技术却停滞不前它背后并没有变得更容易管理。我想说,这种集装箱化和建筑分布都带来了一系列不同的挑战。

Sanjit Singh

Great. Appreciate the thoughts Jennifer.

大。 欣赏Jennifer的想法。...

会议主持员

And our next question will come from Bhavan Suri with William Blair.

我们的下一个问题将来自Bhavan Suri和William Blair。

Bhavan Suri

Hey, guys. Thanks for taking my questions. And a nice job there on the quarter. I guess I wanted to chat a little bit on the penetration opportunity of the core product. If I think about the core On-Call Management product and you think when you look the seat count perspective within average customers, I'd love to sort of get an idea how you think about sort of the remaining runway for additional seats within larger customers.
You got some customers deployed more than 20,000 seats and you think about sort of that spreading. I'd love to sort of think about how you guys think about attacking that opportunity and what the size of that opportunity within the existing base might be.

大家好。 谢谢你回答我的问题。 这个季度的工作很不错。 我想我想谈谈核心产品的渗透机会。 如果我考虑一下核心的On-Call Management产品,并且您认为当您在普通客户中查看座位数时,我想知道您如何看待大型客户中额外座位的剩余跑道。

你有一些客户部署了超过20,000个座位,你想到了那种传播。 我很乐意考虑一下你们如何考虑攻击这个机会以及现有基地内机会的大小。

Jennifer Tejada

Jennifer Tejada...

Yes, the way we think about that is, I think the traditional starting point for most of our customers is in developer ops and IT teams. And then you see this natural expansion, organic expansion, into related organizations like customer support or security operations, et cetera. We don't have a single customer that is sold out. All of our customers still have employees that have real time responsibilities that deal with complexity in their day-to-day operations that are not on PagerDuty.
So we think the opportunity continues to be significant within our existing base on our core products as well as the opportunity to acquire new customers and expand through add-on products. What I would say is we continue to work very hard at making our products simple and easy to use that you don't have to be a developer who can script to kind of understand how it works.
That includes things like removing jargon from ELI and also articulating the value and how our products can be leveraged and applied to different use cases than sort of what's typical as opposed to sort of allowing customers have to figure it out for themselves.

是的,我们考虑的方式是,我认为大多数客户的传统起点是开发人员和IT团队。然后,您会看到这种自然扩展,有机扩展,进入客户支持或安全运营等相关组织。我们没有一个售罄的客户。我们所有的客户仍然拥有实时职责的员工,这些员工可以处理不在PagerDuty上的日常运营中的复杂性。

因此,我们认为机会在我们现有的核心产品基础上继续发挥重要作用,并有机会获得新客户并通过附加产品进行扩展。我要说的是,我们继续努力使我们的产品简单易用,您不必是一个开发人员,可以通过脚本来理解它是如何工作的。

这包括从ELI中删除术语,以及阐明价值以及我们的产品如何被利用并应用于不同的用例,而不是典型的,而不是允许客户自己解决问题。

Bhavan Suri

Got it. Got it. That's helpful. And then I know someone asked about competitors, there's a little bit of consolidation. But I want to touch on some of the AI Ops entrants, right? So you think some of the monitoring guys are coming in, so guys like Dynatrace have opened up their platform to work with more third-party systems and data sources and addressing sort of the AI Ops opportunity.
I guess are you seeing it in customers at all? Do you see any of these new AI Ops kind of entrants in that space? Are you seeing monitoring entrants on deals? Or is that sort of still pretty much the traditional guys or guys that have been acquired and consolidated like VictorOps or whatever.

得到它了。 得到它了。 这很有帮助。 然后我知道有人询问竞争对手,有一点整合。 但我想谈谈一些AI Ops参赛者,对吧? 所以你认为一些监控人员正在进入,所以像Dynatrace这样的人已经开辟了他们的平台来处理更多的第三方系统和数据源,并解决了AI Ops的机会。

我想你是否在顾客身上看到了它? 您是否在这个领域看到过这些新的AI Ops类型的参赛者? 您是否看到监控参与者的交易? 或者是那种像VictorOps或其他任何东西一样被收购和整合的传统家伙或家伙。

Jennifer Tejada

Jennifer Tejada...

So first of all, most of our deals are uncontested. There are still a lot of greenfields where we're replacing PhoneTree and want that channel. Second of all, I would say that we're not seeing AI Ops as a competitive way at all. And in fact, all those people that you mentioned use PagerDuty and are beginning to leverage PagerDuty for things like event management or event intelligence.
So I don't see them coming that way. And I think what's important is there's quite a technology effort to not just consume a signal but then correlate that signal. And you need a very strong data set to work from in order to make sense out of a very complicated set of events that in a traditional APN environment will each look like their own separate incidents and would be pushed to a single silo team whereas with PagerDuty Event Intelligence and Modern Incident Response, as those events come together through our platform, they're consolidated into a single related event and then orchestrated to maybe a handful of people instead of hundreds of people across 5 or 6 teams working on it.
So the workflow is different, and then our ability to orchestrate people -- orchestrate team and intelligently route insights and actions direct to the right teams and right subject matter experts is very differentiated.
The last thing I'd mention is Visibility where we talked about helping people in the moment. We understand the context of what's happening in business, for instance, changes in transaction volume or changes with shopping cart abandonment at the same time they're experiencing a complicated technology incident, which helps responders prioritize immediately, spontaneously, the things that are the most important for the business in that moment. And that, again, is quite different relative to the AI Ops part of the world.

首先,我们的大多数交易都是无可争议的。还有很多绿地我们正在取代PhoneTree并且想要那个频道。其次,我会说我们根本没有看到AI Ops是一种竞争方式。事实上,你提到的所有人都使用PagerDuty并开始利用PagerDuty进行事件管理或事件情报等事务。

所以我不认为他们会这样。我认为重要的是,不仅要消耗信号,还要将信号关联起来,这是一项非常重要的技术工作。而且你需要一个非常强大的数据集才能从一个非常复杂的事件中理解,这些事件在传统的APN环境中每个都看起来像他们自己的独立事件,并且会被推送到单个孤岛团队而使用PagerDuty事件情报和现代事件响应,当这些事件通过我们的平台聚集在一起时,它们被整合到一个相关的事件中,然后可能只有少数几个人,而不是5或6个团队中的数百人。

因此工作流程是不同的,然后我们协调人员的能力 - 协调团队并智能地将见解和行动直接传递给正确的团队和正确的主题专家是非常有区别的。

我要提到的最后一件事是Visibility,我们谈到了当下帮助人们的问题。我们了解业务中发生的事情的背景,例如,在他们遇到复杂的技术事件的同时,交易量的变化或放弃购物车的变化,这有助于响应者立即,自发地优先考虑最重要的事情对那个时刻的业务很重要。而且,与世界上的AI Ops部分相比,这又是完全不同的。

Bhavan Suri

That was super helpful. Thank you, guys and nice job there. Thanks for taking my questions.

这非常有帮助。 谢谢你,伙计们,那里的工作很好。 谢谢你回答我的问题。

会议主持员

And our next question comes from Rishi Jaluria with D.A. Davidson.

我们的下一个问题来自Rishi Jaluria和D.A.戴维森。

Rishi Jaluria

Hey, guys. Thanks for taking my questions. I wanted to start by drilling down on the $100,000 adds, now 32 and getting to 74 in the quarter. Maybe help us understand, was that just a result of better execution in terms of sales and go-to-market or any other contributors there?
And then maybe directionally help us understand, was that mostly existing PagerDuty customers that just expanded with both products and seats? Or were some of those net new customers that weren't PagerDuty customers before?

大家好。 谢谢你回答我的问题。 我想首先深入了解10万美元,现在是32,并在本季度达到74。 也许有助于我们理解,这只是在销售和市场推广或其他任何贡献者方面更好的执行结果?

然后可能在定向上帮助我们理解,是否大多数现有的PagerDuty客户只是扩展了产品和座位? 或者之前是那些不是PagerDuty客户的净新客户?

Jennifer Tejada

Jennifer Tejada...

Thank you. I'll answer your second part of your question first because it's easier to remember. The customers over $100,000 is a mix of existing customers and net new customers, but the majority are existing customers that are expanding within their dev teams or to new teams or new use cases or new products within their relationship with us.
And if I think about what's driving the strength in that segment, I think one of it is just market demand from enterprise and mid-market and the fact that there are not other scalable, resilient, secure platforms available to them. Some of those customers have tried point solutions or internal solutions and have not been successful.
The other thing I would say is some of the macro trends that we're seeing, which is most of these large companies and even large, disruptive, mid-market players are trying to move very fast. They're investing heavily in digital transformation, which we facilitate readily. A lot of them are involved in cloud adoption or cloud migration. And those tend to be tailwinds that really support that kind of expansion.
And then last, I would say I think we are building credibility because we are proven in more than half of the Fortune 100 and over a third of the Fortune 500 as delivering the enterprise scale and enterprise grade offering. We've also had feedback from a lot of these customers around how excited they are about the road map and the fact that as their operational maturity advances, there is somewhere for them to go.

谢谢。我会首先回答你问题的第二部分,因为它更容易记住。超过100,000美元的客户是现有客户和净新客户的混合,但大多数是现有客户,他们正在开发团队或新团队或新用例或与我们的关系中的新产品中扩展。

如果我考虑推动该领域实力的因素,我认为其中之一就是企业和中端市场的市场需求,以及没有其他可扩展,弹性,安全的平台可供他们使用的事实。其中一些客户已尝试过点解决方案或内部解决方案,但尚未成功。

我要说的另一件事是我们看到的一些宏观趋势,这些大型公司中的大多数甚至是大型的,具有破坏性的中端市场参与者都试图快速行动。他们在数字化转型方面投入了大量资金,我们很容易实现这一目其中很多都涉及云采用或云迁移。那些往往是真正支持这种扩张的顺风。

最后,我想说我认为我们正在建立可信度,因为我们在财富100强中超过一半和财富500强中超过三分之一被证明可以提供企业规模和企业级产品。我们也收到很多这些客户的反馈,他们对路线图的兴趣有多激动,以及随着他们的运营成熟度提高,他们可以去的地方。

Rishi Jaluria

Got it. That's really helpful. And then just in thinking about some of the early positive reception you've had with Event Intelligence, Incident Response, some of the other ancillary products, I mean have you given thought to at some point -- I know, Jennifer, you said not disclosing revenue breakdown or anything like that but maybe even something like attach rates or attach rates for even just $100,000 customers, even be that once a year or at the Analyst Day or something, just I think what gets people really excited is when the platform part of the story really starts to take off, and clearly the pieces are in place, but any kind of early signs on that I think would be helpful but just wanted to get your perspective on that.

得到它了。 这真的很有帮助。 然后只是考虑一下事件情报,事件响应,一些其他辅助产品的早期积极接待,我的意思是你在某个时候考虑过 - 我知道,詹妮弗,你说没有 披露收入细分或类似的东西,甚至可能甚至是10万美元客户的附加费率或附加费率,甚至是每年一次或在分析师日或其他什么,只是我认为让人们非常兴奋的是当平台部分 故事真的开始起飞了,显然这些部分已经到位,但我认为任何一种早期迹象都会有所帮助,但只是想了解你的观点。

Jennifer Tejada

Jennifer Tejada...

Thanks, I appreciate your feedback there. At this point in time, we don't have an intention to share that data. Again, I think these products are early. We've released Event Intelligence into the market last summer, so it's been out in the market in just a year, and the other products have all followed. And just earlier this quarter, we've released Business Response, which allows customers to not just manage their technology incidents and issues and opportunities but helps business leaders drive the corporate response that they need to engage go-to-market to get ahead of challenges with their customers or legal or PR. And so it's a pretty diversified offering, and I think from where we are right now, we don't intend to share attachment data.

谢谢,我感谢您的反馈意见。 目前,我们无意共享该数据。 我再次认为这些产品是早期的。 去年夏天我们已经将Event Intelligence发布到了市场,所以它在短短一年内就已经上市,而其他产品都紧随其后。 就在本季度早些时候,我们发布了业务响应,它使客户不仅可以管理他们的技术事件,问题和机会,还可以帮助业务领导者推动他们进入市场以应对挑战所需的企业响应 与他们的客户或法律或公关。 所以这是一个非常多样化的产品,我想我们现在的位置,我们不打算分享附件数据。

Rishi Jaluria

Okay, got it. Understood. Thank you so much.

好,知道了。了解。 非常感谢。

会议主持员

And there are no final questions at this time. I will now turn the conference back over to management for closing remarks.

目前还没有最后的问题。 我现在将会议转回管理层,以便结束发言。

Jennifer Tejada

Jennifer Tejada...

Thank you, everybody, for taking the time to join our call. And thank you for the entire PagerDuty customer and user community and the team for another solid quarter. We look forward to seeing many of you at our upcoming summit later this month. Thanks very much, and have a great night.

感谢大家,花时间加入我们的电话会议。 感谢整个PagerDuty客户和用户社区以及团队另一个稳固的季度。 我们期待在本月晚些时候举行的峰会上看到你们中的许多人。 非常感谢,祝你有个美好的夜晚。

会议主持员

And that concludes today's conference call. You may now disconnect.

这就结束了今天的电话会议。 您现在可以断开连接。

相关问题

  • PagerDuty, Inc. 电话会议
  • PagerDuty, Inc. 财务报告

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