Good afternoon. I'd like to introduce Christopher Ferro, PagerDuty's Chief Legal Officer and Secretary, to open today's meeting. Welcome to our 2026 Annual Meeting of Stockholders. Before we begin, let me remind everyone that statements made in this meeting involve forward-looking statements based on the environment as we currently see it. They involve risks and uncertainties that could cause our actual results to be materially different from those expressed by these forward-looking statements. These forward-looking statements include our growth prospects and future revenue, among others, and represent our management's beliefs and assumptions only as of the date of these statements. We undertake no obligation to update these statements. It is my pleasure to introduce you to PagerDuty's Executive Chair, Jennifer Tejada, and our CEO, John DiLullo. Jen will chair today's annual meeting. Thank you, Chris, and welcome everyone. I'll start by introducing the members of our board of directors and the management team who are with us today. John will make some remarks before handing things back to Chris to take us through the formal portion of today's meeting. Along with John and myself, the other members of the board virtually present are Scott Aronson, Teresa Carlson, Donald Carty, Sarah Franklin, Bill Losch, Zachary Nelson, and Bonita Stewart. Members of the PagerDuty leadership team with us today are Howard Wilson, our Chief Financial Officer, and of course, Chris Ferro, our Chief Legal Officer and Secretary. We also have Courtney Blum representing PricewaterhouseCoopers LLP, our independent registered public accounting firm. I will now give the floor to John, PagerDuty's CEO, to make some introductory remarks before we officially call the meeting to order. Thank you, Jen. I'd like to begin by saying thank you to all of our stockholders and our investors. I'm grateful for your trust and for your partnership as I step into the leadership role at PagerDuty. The entire team, the board, and I are working hard every day to keep earning that trust. 2026 marked a historic turning point where the world witnessed the initial production and adoption of AI-powered solutions in modern mission-critical enterprise use cases. New agentic workloads, powered by emerging AI capabilities, became a daily feature of the modern workplace. In unison, PagerDuty's AI Agents began stepping in as first responders to help customers remain resilient and proactive in their deployment of critical workloads. Major incidents can cost a company millions of dollars per hour in lost revenues. AI coding agents and agentic workflows magnify this risk. They fail differently, the cost of unplanned interruptions are equally severe. PagerDuty is the central nervous system of these AI operations deployments, and I'm happy to see that our importance in this new era of business-critical operations remains undiminished. This past year was defined by innovation, numerous new product introductions, and brisk new customer acquisition. This was accompanied with rigorous spending discipline and deliberate operating margin growth. While we invested aggressively in research and development to lead competitively in this new AI agentic era, we simultaneously sharpened our operating leverage. Last year, we delivered total revenue of $493 million and ARR of $499 million. Non-GAAP operating margin expanded to 25%. GAAP net income was $174 million, including a one-time deferred tax benefit of $169 million. Our international markets now account for 29% of revenue, we ended the year with 15,351 paid customers and over 35,000 total customers. In Q4, customer spending over $1 million in ARR grew by 10% year-over-year, reaching 79 in total. We repurchased more than 10 million shares during the year under our expanded $200 million buyback program, reflecting confidence in our future. In fiscal year 2026, we also deployed our own AI agents internally alongside coding assistants, doubling our engineers' coding days per week and code commits. Those innovations allowed us to ship 150 platform enhancements in a single year, further cementing our utility for the fast-paced and demanding DevOps clients which we serve. Building on our unique data and competitive advantage, in fiscal 2026, we launched four specialized agents across the incident life cycle. SRE Agent, which triages and diagnoses issues, resolving routine incidents before escalation. Scribe Agent, which generates real-time incident summaries and stakeholder updates. Insights Agent, which suggests recommendations to improve future incident response. Lastly, Shift Agent, which automates complex on-call scheduling, eliminating manual adjustments. Our 16 years of incident data, continuously refined by machine learning, delivers tangible, high-fidelity results for our customers. Our platform builds operational memory of incidents that it experiences to improve its future automated responses and to prevent future disruptions. PagerDuty is the industry-leading AI-first operations platform. As of spring 2026, our AI partnerships include 30 partners across 11 categories, including marquee collaborations with companies such as Anthropic, Cursor, and LangChain. We are the operations platform of choice for both enterprise leaders and AI hyperscalers, including Anduril, CoreWeave, Snowflake, and Scale AI. Of special note, NVIDIA was an early adopter of PagerDuty's AI capabilities using Model Context Protocol to speed up incident resolution. Our customers are evolving how they use our platform, moving from reactive alerting to preemptive and preventative operations using our fit-for-purpose AI agents. Our enterprise-ready operations cloud platform handles data at scale with more than 700 API and Model Context Protocol integrations, meaning we can now bring human and agent responders together in an orchestrated and collaborative way. Our addition of new usage-based and outcome-focused commercial pricing models offer more options to customers and help to align our revenue with the value that our customers enjoy when using our products. In fiscal year 2027, we will further expand our fully autonomous operations. Building on the agentic offerings introduced last year, we will continue to evolve the capabilities of our SRE Agent as a virtual responder that autonomously detects, triages, and remediates well-understood incidents without human prompting. Our progress is powered by our people across every region. We are united by our leading value, champion the customer, while we stay committed to community impact. Thank you for your trust as we build the world's most resilient AI operations platform. We will now call the meeting to order. We will proceed with the formal business of the meeting in the order presented in the notice of annual meeting and proxy statement. After the formal part of the meeting, we will adjourn the meeting then offer a brief Q&A. Will the secretary please report on the mailing of the notice of the meeting and the list of stockholders? I have with me a complete list of the stockholders of record of PagerDuty's common stock on April 20, 2026, which is the record date for this meeting. I also have an affidavit certifying that starting May 4, 2026, the notice of the annual meeting of stockholders of the company was mailed to all stockholders of record as of the close of business on April 20, 2026. I am appointing Michael Williams, our Senior Corporate Counsel, to act as the Inspector of Election for this meeting. His function is to decide on the qualifications of voters, accept their votes, and when balloting on all matters completed, to tally the final votes. Michael has subscribed to the customary oath of office to execute his duties with strict impartiality. We will file this oath with the records of this meeting. Will the Secretary please report on the existence of a quorum? I have been informed by the Inspector of Election that proxies have been received for approximately 86% of the aggregate voting power of the outstanding shares of common stock that are entitled to vote at this meeting. This constitutes a quorum for the meeting today. We will now proceed to conduct the formal business of the meeting. There are three proposals to be considered by the stockholders at this meeting. The time is now 2:25 P.M. Pacific Time on Thursday, June 18, 2026. The voting is now open for all matters that are presented. Please look to the bottom right corner and select the voting button if you wish to vote. The polls will be closed to voting after we go through the matters to be voted on. The agenda and rules of conduct for the meeting are posted in the materials section in the bottom right-hand corner of the annual meeting portal. We ask that you follow these rules to help the meeting run smoothly. We will address questions during the Q&A portion of the meeting. If you have a question, please submit it by entering it into the Q&A section in the bottom right-hand corner of the annual meeting portal. The first item of business at this annual meeting is the election of the Class I Directors to serve until the 2029 Annual Meeting of Stockholders or until their successors are duly elected. The nominees for Class I Director are Jennifer Tejada, Donald Carty, Sarah Franklin, and William Losch. The second item of business today is the ratification of the Audit Committee's selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending January 31, 2027. The third item of business today is an advisory, non-binding vote to approve the compensation of our named executive officers. The voting is open for all matters that are presented. If you have already submitted your vote by proxy and you do not wish to change your vote, you do not need to vote now. Your shares will be voted as previously instructed. If you intend to vote and have not already done so, please submit your vote now in order for it to be counted. We cannot accept any ballots, proxies, revocations, or changes after the closing of the polls. We will now provide a short pause for voting. Thank you. The time is now 2:27 P.M. Voting and the Q&A submission portal are now closed. Do we have the preliminary voting results? We do. We have been informed by the Inspector of Election that the preliminary vote report covering the proposals presented at this meeting is as follows. The proposal to elect Jennifer Tejada, Donald Carty, Sarah Franklin, and William Losch as Class I Directors of PagerDuty is approved. The selection of PricewaterhouseCoopers LLP as PagerDuty's independent registered public accounting firm for the fiscal year ending January 31, 2027 is ratified. The advisory proposal on the compensation of our named executive officers is approved. We will be recording the final vote results in a Form 8-K to be filed with the Securities and Exchange Commission within four business days from today. This concludes the formal portion of today's meeting, and the annual meeting is now adjourned. Thank you for your attendance. We will now proceed with a brief Q&A session during which we will address questions from our stockholders. Chris, are there any questions from our stockholders? Yes. I'll read the first question now. Across the technology sector, companies are using AI to improve workforce productivity and operate with leaner headcounts. Given PagerDuty's positioning as an AI-first operations platform, what is your plan to capture those same efficiencies internally, and how should shareholders expect that to show up in headcount and operating margins? Chris, this is John DiLullo. I'll take that one. Thank you very much for the question. Today, we are not providing guidance on this call. I would point you to our recent Q1 earnings release, which has a discussion on operating margins included. I want to assure you that we do take capital allocation very seriously and have already seen AI delivering efficiencies in our organization, complementing our record of consistently improving operating margins, including being GAAP profitable. We are very excited about the opportunity that AI creates for us to deliver both a better experience for our customers, also the ability to improve our productivity. Thank you. Thank you, John. There are a few other questions. They do not relate to fiscal year 2026. We can close Q&A for today. I will turn it over to Jen to wrap up the annual meeting. Thank you, Chris. I'd like to thank you all for attending today's meeting and the interest you've shown in the company's business. We very much appreciate your attendance and your continued support of PagerDuty. Have a great day. This concludes today's meeting. You may now disconnect.
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