PagerDuty, Inc. (NYSE:PD) Q2 2024 Earnings Conference Call August 31, 2023 5:00 PM ET
Company Participants
Tony Righetti - VP, IR
Jennifer Tejada - Chairman & CEO
Howard Wilson - CFO
Conference Call Participants
Robert Oliver - Baird
Tony Righetti
Good afternoon, and thank you for joining us to discuss PagerDuty's Second Quarter Fiscal Year 2024 Results. With me on today's call are Jennifer Tejada, PagerDuty's Chairperson and Chief Executive Officer; and Howard Wilson, our Chief Financial Officer.
Before we begin, let me remind everyone that statements made on this call include forward-looking statements based on the environment as we currently see it, which involve known and unknown risks and uncertainties that cause -- that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements.
These forward-looking statements include our growth prospects, future revenue, operating margins, net income, cash balance, and total addressable market, among others, and represent our management's belief and assumptions only as of the date such statements are made, and we undertake no obligation to update these.
During today's call, we will discuss non-GAAP financial measures, which are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures is available in our earnings release. Further information on these and other factors that could cause the company's financial results to differ materially are included in the filings we make with the Securities and Exchange Commission, including our most recently filed Form 10-K as well as our subsequent filings made with the SEC.
With that, I will turn the call over to Jennifer.
Jennifer Tejada
Good afternoon, and thank you for joining us on the call today. PagerDuty delivered solid second quarter results, exceeding our top and bottom line guidance with 19% revenue growth and a non-GAAP operating margin of 13%. Year-over-year operating margin expanded by 1,700 basis points due to disciplined execution as we remain committed to durable profitable growth.
Our customers continue to choose the Operations Cloud to protect and grow their digital revenue, reduce operating expenses and more efficiently ensure customer experiences and trust. While customer spending was still measured, our low cost of ownership, quantifiable high return on investment and short payback period resonated as Banco Santander, Cisco Systems, Confluent, DocuSign, Grammarly, HubSpot and NVIDIA chose PagerDuty as their real-time operations platform.