Slides
Page 1
Investor PresentationQ1 2026Period ended April 30, 2025
Page 2
Safe Harbor © PagerDuty Inc. PagerDuty and the PagerDuty logo are trademarks of PagerDuty, Inc. Other names and brands may be claimed as theproperty of others. This presentation contains forward-looking statements. All statements other than statements of historical fact contained in this presentation, are forward-looking statements, including but not limited to: statements regarding the future financial and operational performance and outlook, and strategies, objectives, opportunity, expectations and market positioning of PagerDuty, Inc. (“PagerDuty” or the “Company”). In some cases, you can identify forward-looking statements by terms such as “can,” “desire,” “able,” “guidance,” “expect,” “extend,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “accelerate,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” or the negative of these terms or other similar words or expressions. You should not rely upon-forward looking statements as predictions of future events.The outcome of events described in these forward-looking statements contained in this presentation is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause PagerDuty’s actual results, performance or outcomes to differ materially from those expressed or implied by such forward-looking statements, including: the Company’s ability to achieve and maintain future profitability; the Company’s ability to sustain and manage its growth; the Company’s ability to attract new customers and retain and sell additional functionality and services to its existing customers; the Company’s dependence on revenue from a single product; the Company’s ability to compete effectively in an increasingly competitive market; the impact of seasonality on its business; the Company’s ability to adapt and respond effectively to rapidly developing technology; the Company’s ability to effectively develop and expand its marketing and sales capacities; the Company’s ability to enhance and improve its platform or develop new functionality or use cases; the effect of unfavorable conditions in the Company’s industry or the global economy, or reductions in information spending, on the Company’s business and results of operations; adverse consequences that could arise as a result of international trade policies, including tariffs, sanctions and trade barriers; the accuracy of the Company’s estimates of market opportunity and forecasts of market growth; the Company’s assumptions and limitations to which ARR and certain other operational data are subject that may cause such metrics to not provide an accurate indication of actual performance or future results; adverse consequences that could result from any compromise of the Company’s information technology systems or those of third parties with whom the Company works or the Company’s data; adverse consequences that could result from any interruptions or delays in performance of the Company’s service; and the Company’s ability to maintain the compatibility of its platform with third party applications that its customers use in their businesses.The forward-looking statements contained in this presentation are also subject to additional risks, uncertainties, and factors, including those more fully described in PagerDuty’s filings with the Securities and Exchange Commission (the “SEC”), including its most recently filed Form 10-K and subsequent filings with the SEC. Forward-looking statements represent PagerDuty’s management’s beliefs and assumptions only as of the date such statements are made. PagerDuty does not undertake, and expressly disclaims any duty, to update any statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law.This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of its future performance and the future performance of the markets in which the Company competes are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from those expressed in the estimates made by the independent parties and by PagerDuty.This presentation also includes certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not as 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 nearest 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 the Company’s non-GAAP financial measures as tools for comparison. The Company has provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available in the Appendix to this presentation. For further information with respect to PagerDuty, we refer you to the Company’s most recent Form 10-K/A and subsequent filings with the SEC. In addition, the Company is subject to the information and reporting requirements of the Securities Exchange Act of 1934 and, accordingly, files periodic reports, current reports, proxy statements and other information with the SEC. These periodic reports, current reports, proxy statements and other information are available for review at the SEC’s website at http://www.sec.gov.The last day of the Company’s fiscal year is January 31. The Company’s fiscal quarters end on April 30, July 31, October 31 and January 31. References to a fiscal year (FY) refer to the fiscal year ended January 31 of such year. For example, fiscal 2026 or FY26 refer to the fiscal year ended January 31, 2026.
Page 3
About PagerDutyPagerDuty, Inc. (NYSE:PD)is a global leader in digital operations management. The PagerDuty Operations Cloud is an AI-powered platform that empowers business resilience and drives operational efficiency for enterprises. With a generative AI assistant at its core, PagerDuty empowers teams to detect and resolve issues in real time, orchestrate complex workflows, and drive continuous improvement across their digital operations. Trusted by nearly half of both the Fortune 500 and the Forbes AI 50, as well as approximately two-thirds of the Fortune 100, PagerDuty is essential for delivering always-on digital experiences to modern businesses. FY26 Q1ARR: $496MRevenue: $120MNon-GAAP Operating Margin: 20%Free Cash Flow Margin: 24%DBNR: 104%Total Paid Customers: 15,247Customer with ARR > $100K:848
Page 4
Then to Today On-Call Management 2009Escalation PoliciesPagerDuty Founded 2018 2021Event IntelligenceServiceGraph 2022Private & Public Status Pages 202020192010 2024 Response Plays 2023
Page 5
PagerDuty Operations Cloud
Page 6
PagerDuty Incident ManagementPagerDuty for Customer Service PagerDuty AIOPsRunbook Automation, Runbook Automation, Self-hosted,Workflow Automation The Operations Cloud Product Pillars Reduce noise, identify root causes, and automate incident resolution in real time.Operate faster by automating and delegating business and IT processes.Empower Customer Service teams to proactively solve customer issues, faster.Deliver always on digital services by mobilizing the right response when seconds matter. Add ons PagerDuty Advance | Jeli | Runbook Automation for Incident Management | Stakeholder License | Status Pages | Professional Services and Support
Page 7
FreeStart with on-call and incident response for small teams.Includes:Easy on-call schedulingUnlimited API calls700+ out-of-box integrations (Monitoring and chat)No maintenance windows ever Why?-88% of execs expect an incident as large as the July global IT outage within the next year1 Incident Managementis the end-to-end business process of addressing an outage, service disruption, or other major incident from its initial conception to its full resolution. Professional $252per user/yearOn-call and incident response for growing teams.Free Plan, plus:Unlimited international phone/SMS notifications, schedules, escalation policiesSSOTicketing integrationsEmail support Business$492per user/yearAdvanced incident response for modern operations teams.Professional Plan, plus:Incident WorkflowsBusiness responseAdvanced admin featuresAdvanced ITSM integrationsUnlimited data accessCustom Fields Enterprise(contact for pricing)End-to-end incident management for the entire lifecycle.Business Plan, plus:Post Incident reviewsIncident Workflows: Conditionals, Loops, and DelaysIncident Workflows: Advanced ActionsTrigger Incident Workflows on Custom Fields Incident RolesIncident TasksPremium Slack ActionsBi-directional Custom Field Sync with ServiceNowUnlimited International phone/ SMS notifications Source: 1 Not ‘If’ but ‘When’: 88% of Execs Expect an Incident as Large as the July Global IT Outage Within the Next Year, https://www.pagerduty.com/resources/insights/learn/execs-expecting-it-outages-2025/
Page 8
For Incident ManagementPagerDuty Advanceis a set of generative AI capabilities for the PagerDuty Operations Cloud. A set of Generative AI capabilities that augment and scale responder teams. This saves time and money by eliminating repetitive and time-consuming tasks. PagerDuty Advance$4,980per user/yearPagerDuty Incident Management customers (excluding month-to-month) can add PagerDuty Advance to accelerate mission-critical work and mitigate operational risk with GenAI capabilities for the PagerDuty Operations Cloud.Automate time-consuming work at every step of the incident lifecycle:Surface actionable insights and suggested next steps, directly from Slack (support for Microsoft Teams coming soon)Draft an audience-specific status update in secondsSummarize the most important automation jobs results
Page 9
PagerDuty AIOps helps teams experience fewer incidents, faster resolution, and greater productivity without long implementations or heavy ongoing maintenance.PagerDuty AIOps launched in April 2023 and is the current evolution of PagerDuty’s Legacy Event Intelligence add-on. AIOpsConsumption pricing, starting at $8,388/yearPay only for what you use with transparent, flexible consumption-based pricing, up toFeatures fall into one of five categories Noise ReductionTriage and RCAAutomation and OrchestrationVisibilityIncreased Event Ingestion
Page 10
Balance automation, security, and governance with time to value.By associating Automation Actions with a PagerDuty service, responders get push-button access to a library of defined diagnosticor remediation actions, resulting in shorter resolution times and fewer disruptive escalations.Automation Actions can also be used as part of an Event Orchestration to enrich incident data with diagnostics information orperform remediation actions on incidents automatically. Workflow Automation(contact for pricing)Automate manual processes and expedite task completion by integrating business processes with technical automation.Automate manual business processes using workflows integrated with Runbook AutomationStreamline approvals, information gathering, and multi-channel communication and collaborationRapid time to value with no-code workflow builderOut-of the-box workflow templates, actions, and integrationsIntegrated with SSOInvoke automation through webhooks, custom webforms, emails, or on a scheduleSecurely connects to Runbook Automation in physical and cloud environments Runbook Automation$1,500 per user/year + Cloud Platform feeFaster time to value with a fully managed runbook automation platform hosted by PagerDuty.Hosted and managed by PagerDutyReplace manual IT processes with automated runbooksInvoke technical automation through web, CLI, APIs or integrated applicationsOut-of the-box plugins to common systems and infrastructureIntegrated with SSO and cloud secrets management systemsSecurely connects and runs jobs in physical and cloud environments Runbook Automation Self-Hosted(contact for pricing)Maximize flexibility with a self-hosted runbook automation platform.Self-hosted on-premise or in your private cloudReplace manual IT processes with automated runbooksInvoke technical automation through web, CLI, API’s or integrated applicationsOut-of the-box plugins to common systems and infrastructureIntegrated with SSO and cloud secrets management systemsSecurely connects and runs jobs in physical and cloud environments
Page 11
Enterprise(contact for pricing)Our enterprise-grade solution, customized for your needs.Business Plan, plus:Post Incident reviewsIncident Workflows: Conditionals, Loops, and DelaysIncident Workflows: Advanced ActionsTrigger Incident Workflows on Custom FieldsIncident RolesIncident TasksPremium Slack ActionsBi-directional Custom Field Sync with ServiceNow 80% of consumers say that the experience a company provides is just as important as its products and services.PagerDuty Customer Service Opsenables automated escalation policies, bidirectional comms and direct line of escalation for every agent to quickly mobilize and activate a response. Professional$252per user/yearEssential capabilities to break down the walls between customer service and engineering.Free Plan, plus:Work within Zendesk, Salesforce Service Cloud, ServiceNow CSMBi-Directional communication with engineeringUnlimited international phone/ SMS notificationsSSO Business$492per user/yearMore automation and advanced capabilities for greater efficiency.Professional Plan, plus:Embedded incident Status DashboardCustomer Service Incident WorkflowsBi-Directional Automation Rules EngineHelp Desk and Advanced ITSM integrationLink customer cases to incidentsAdvanced Agent Routing Source: https://www.pagerduty.com/assets/ebook-real-time-work-customer-service.pdf
Page 12
700+ IntegrationsMonitoring & Observability Security DevOps & Lifecycle Customer Service Infrastructure Automation ChatOps & Collaboration ITOps & ITSM
Page 13
Operational Maturity ManualIssues are identifiedby customers ReactiveCompanies are stuckin firefighting mode ResponsiveResolving issuesas they occur ProactiveSeamless, coordinated issue management PreventativeAhead of issuesbefore they start
Page 14
The $50B Market Opportunity1 Developers: driven by digital services and software-driven innovation →30m usersInfrastructure and Operations:undergoing modernization with Digital, Cloud adoption, and DevOps →23m usersCustomer Service: push for improving cost-efficiency and productivity through self-service and automation →28m usersSecOps: a relatively small, but influential population (i.e. protect all technology / data, employees, customers and stakeholders for a business) →6m users 87 million users by persona2 Sources: 1 To calculate our total addressable market, we multiply our estimate of 87 million potential users by our applicable productaverage revenue per user. We believe that we have approximately 1% penetration worldwide within these markets.2 Development user population for 2024 is sourced from the IDC Worldwide Developer Census for 2023–2027 (March, 2023), IT Operations user population for 2024 is sourced from the IDC Worldwide Information and Communication Technology Employment Forecast, 2020–2023 (July 2020), Customer Service user population for 2024 in the U.S. is sourced from the U.S. Bureau of Labor Statistics, Security user population for 2024 is sourced from the ISC2 Cybersecurity Workforce Study (2023)3 A study of 500 IT leaders and decision-makers of companies with more than 1,000 employees responsible for IT operations from the United States, the United Kingdom and Australia. June 2024, https://www.pagerduty.com/resources/learn/cost-of-downtime/ Anatomy of an incident3 Cost of downtime:~$4,537/minute→$794,000 per incident High-priority/priority incidents:25 in the past 12 months per organization →$20M per yearTime to manually resolve an incident:more than 3 hours and 58 minutes
Page 15
Forrester Total Economic Impact StudyPagerDuty is an essential partner to build resilient and efficient operations 249%Return on investment (ROI) over three years Source: Forrester Consulting: The Total Economic Impact of the PagerDuty Operations Cloud. August 2024 https://www.pagerduty.com/resources/analyst-report/unlock-the-roi-of-pagerduty-forrester-study/ <12 monthsPayback
Page 16
Extensive APIs & IntegrationsProprietary Foundational Data ModelNo-Code to Pro-Code AutomationZero Maintenance Availability WindowEmbedded AI/ML and GenAI PagerDuty Operations Cloud DevOps & Lifecycle Cloud Infrastructure Security Cloud Data Monitoring & Observability ChatOps & Collaboration Infrastructure Automation Customer Service ITOps & ITSM AI 700+ integrations AutomationAI
Page 17
Resolve issues more quickly and efficiently with streamlined responses Increase resilience and protect revenueby turning information into action Achieve faster time to valueby removing friction from adoption Reduce spendand uncover trends to solve issues faster PagerDuty’s Competitive Advantage Make better data-driven decisions on the basis of learnings and insights IntegrateCollect & correlateAutomateResolvePrevent & learn
Page 18
Innovation-Driven Land-and-Expand ModelExpansion motion at a major financial institution Hundreds Thousands Users A leading financial services organization relies on PagerDuty to increase workforce efficiency, critical application uptime, and operating leverage.Value captured includes,reduced toil and improved customer experience through greater app reliability.2019:Initial purchase for a group delivering applications for high value clients 2020:Additional purchases = > $1M in ARR2021: Added gold services2022: Additional 7-figure deal2023: Expanded product mix and purchase sets for international business needs2024:Became the incident response standard platform for the organization Expanded into other technology teams Initial purchase 7-figureexpansion Gold Services attached 20192020202120222023 Expanded product mix and purchase sets for international business needs 2024 PagerDuty became the incident response standard platform
Page 19
PagerDuty Q1 Overview Quarterly revenue Non-GAAP operating marginPaid customersYear-over-Yearrevenue growth $120M8%15,24720% See appendix for GAAP to non-GAAP reconciliation
Page 20
Select Operating Metrics Note: See appendix for definition of operating metrics. 1. See appendix for GAAP to non-GAAP reconciliation2. See GAAP to non-GAAP reconciliation at https://s23.q4cdn.com/247028398/files/doc_presentations/2024/FY25-Q2-General-Investor-Presentation-9-3-1.pdf3. See GAAP to non-GAAP reconciliation at https://s23.q4cdn.com/247028398/files/doc_financials/2025/q3/FY25-Q3-General-Investor-Presentation-11-26.pdf4. See GAAP to non-GAAP reconciliation at https://s23.q4cdn.com/247028398/files/doc_presentations/2025/Mar/13/FY25-Q4-General-Investor-Presentation-4-24-pptx.pdf FY25 Q1FY25 Q2FY25 Q3FY25 Q4FY26 Q1Revenue (millions) $111$116$119$121$120 Revenue Growth8%8%9%9%8% Non-GAAP Operating Margin14%117%221%318%420%1 DBNR106%106%107%106%104% Paid Customers15,12015,04415,05015,11415,247 Customers >$100K 811820825849848
Page 21
Non-GAAP Target Operating Model See appendix for GAAP to non-GAAP reconciliation for FY23, FY24, FY25, and Q1’FY26. For GAAP to non-GAAP reconciliation of FY20, FY21, and FY22, refer to https://s23.q4cdn.com/247028398/files/doc_presentations/2022/03/FY22-Q4-General-Investor-Presentation-3.16.21.pdf*PagerDuty has not reconciled its long-term non-GAAP targets because certain reconciling items are out of PagerDuty’s control orcannot be reasonably predicted. Accordingly, such reconciliation is not available without unreasonable effort. However, it is important to note that these reconciling items could have a significant effect on PagerDuty’s future GAAP results. % of RevenueFY20FY21FY22FY23 FY24FY25Q1’FY26Target*Gross Margin86%87%85%85%86%86%86%85% Sales & Marketing53%50%50%43%38%36%34%-Research & Development26%25%25%24%22%20%19%- General & Administrative24%21%19%17%13%13%13%- Operating Margin(17%)(8%)(8%)1%13%18%20%30%
Page 22
Solid revenue growth with significant operating margin expansion Investment HighlightsReal-time leading operations cloud platform Significant market opportunity Expansive enterprise adoption Consistent innovation Aiming to achieve durable profitable growth Expanding competitive advantage through product offerings Strong enterprise demand with opportunity to further expand across the operations cloud platform Customer-driven demand across business operations and industrial operations Comprehensive product offerings to optimize operating efficiency and offer tangible ROI
Page 23
ResourcesInvestor Relations Pagehttps://investor.pagerduty.comPagerDuty Newsroom https://www.pagerduty.com/newsroom/PagerDuty Introductionhttps://support.pagerduty.com/main/docs/introductionKnowledge Basehttps://support.pagerduty.com/Case Studies https://www.pagerduty.com/customers/Executive Spotlight https://www.pagerduty.com/in-perspective/Impact Hubhttps://www.pagerduty.com/impact-hub/
Page 24
Appendix
Page 25
DefinitionsAnnual Recurring Revenue (ARR) -Annualized recurring value of all active contracts at the end of a reporting period. Customer-A separate legal entity, such as a company or an educational or government institution, that has an active subscription with us or one of our partners to access our platform. In situations where an organization has multiple subsidiaries or divisions, we treat the parent entity as the customer instead of treating each subsidiary or division as a separate customer.Dollar-Based Net Retention (DBNR)-Calculated as of a period end starting with the ARR from the cohort of all customers as of 12 months prior to such period end. Next, we calculate the ARR from these same customers as of the current period end. Period ARR includes any expansion and is net of downgrades or churn over the last 12 months but excludes ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based net retention rate.
Page 26
Reconciliation PagerDuty, Inc.Reconciliation of GAAP to Non-GAAP Data(in thousands, except percentages and per share data) (unaudited) Note: Certain figures may not sum due to rounding. Three months ended April 30,Year ended January 31, 20252024202520242023Non-GAAP gross profit and non-GAAP gross marginGross profit $100,621$91,829$387,834$352,867$300,359Add:Stock-based compensation 1,0971,7565,9847,5866,827Employer taxes related to employee stock transactions 38 44162199163Amortization of acquired intangible assets 1,2732,4079,0758,6147,401Restructuring costs — — (2)137357Non-GAAP gross profit $103,029$96,036$403,053$369,403$315,107Revenue $119,805$111,172$467,499$430,699$370,793Gross margin 84%83%83%82%81%Non-GAAP gross margin 86%86%86%86%85% Non-GAAP research and developmentResearch and development$34,048$37,523$141,489$139,769$134,876Less:Stock-based compensation 9,84011,22244,69144,80039,012Employer taxes related to employee stock transactions3042821,1161,398942Acquisition-related expenses 2282959788383,105Amortization of acquired intangible assets— 87116350232Restructuring costs 1,373—424(26)2,004Non-GAAP research and development$22,303$25,637$94,164$92,409$89,581
Page 27
Reconciliation ContinuedPagerDuty, Inc.Reconciliation of GAAP to Non-GAAP Data(in thousands, except percentages and per share data) (unaudited) Note: Certain figures may not sum due to rounding. Three months ended April 30,Year ended January 31, 20252024202520242023Non-GAAP sales and marketingSales and marketing $50,045$48,499$201,821$196,769$195,622Less:Stock-based compensation 6,2197,94731,18530,34529,804Employer taxes related to employee stock transactions182190773919892Amortization of acquired intangible assets6336322,5302,4592,546Restructuring costs 2,210— 140(49)2,200Non-GAAP sales and marketing$40,801$39,730$167,193$163,095$160,180Non-GAAP general and administrativeGeneral and administrative$26,855$27,540$104,296$112,575$99,238Less:Stock-based compensation 8,59712,01544,35044,42134,264Employer taxes related to employee stock transactions1941877459821,099Acquisition-related expenses — (32)(1)9621,454Amortization of acquired intangible assets— 22298758Restructuring costs 2288 1808,615474Shareholder matters 2,270— ———Non-GAAP general and administrative$15,566$15,340$58,993$57,508$61,889Non-GAAP operating income and non-GAAP operating marginLoss from operations $(10,327)$(21,733)$(59,772)$(96,246)$(129,377)Add:Stock-based compensation 25,75332,940126,210127,152109,907Employer taxes related to employee stock transactions7187032,7963,4983,096Amortization of acquired intangible assets1,9063,1489771,8004,559Acquisition-related expenses 22826311,75011,51010,237Restructuring costs 3,8118 7428,6775,035Shareholder matters 2,270— ———Non-GAAP operating income$24,359$15,329$82,703$56,391$3,457Revenue $119,805$111,172$467,499$430,699$370,793Operating margin (9)%(20)%(13)%(22)%(35)%Non-GAAP operating margin20%14%18%13%1%
Page 28
Note: Certain figures may not sum due to rounding. Reconciliation ContinuedPagerDuty, Inc.Reconciliation of GAAP to Non-GAAP Data(in thousands, except percentages and per share data) (unaudited)Three months ended April 30, Year ended January 31, 20252024202520242023Non-GAAP net income attributable to PagerDuty, Inc. common stockholdersNet loss attributable to PagerDuty, Inc. common stockholders$(6,497)$(24,056)$(54,460)$(81,757)$(128,423)Add:Stock-based compensation25,75332,940126,210127,152109,907Employer taxes related to employee stock transactions7187032,7963,4983,096Amortization of debt issuance costs6776082,6292,0781,839Amortization of acquired intangible assets1,9063,14811,75011,51010,237Acquisition-related expenses 2282639771,8004,559Restructuring costs 3,8118 7428,6775,035Gain on extinguishment of convertible senior notes— — —(3,699)—Shareholder matters 2,270— ———Adjustment attributable to redeemable non-controlling interest(665)6,91711,7256,568—Income tax effects and adjustments(5,522)(4,526)(21,989)(3,273)(2,556)Non-GAAP net income attributable to PagerDuty, Inc. common stockholders$22,679$16,005$80,380$72,554$3,694 Non-GAAP net income per share, basicNet loss per share, basic, attributable to PagerDuty, Inc. common stockholders$(0.07)$(0.26)$(0.59)$(0.89)$(1.45)Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders0.320.431.461.681.49Non-GAAP net income per share, basic, attributable to PagerDuty, Inc. common stockholders$0.25$0.17$0.87$0.79$0.04 Non-GAAP net income per share, dilutedNet loss per share, diluted, attributable to PagerDuty, Inc. common stockholders$(0.07)$(0.26)$(0.59)$(0.89)$(1.45)Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders0.310.431.441.631.49Non-GAAP net income per share, diluted, attributable to PagerDuty, Inc. common stockholders$0.24$0.17$0.85$0.74$0.04Weighted-average shares used in calculating non-GAAP net income per shareBasic 91,37492,87692,00092,34188,721Diluted 93,65696,10495,060100,941100,862
Page 29
ReconciliationPagerDuty, Inc.Reconciliation of GAAP to Non-GAAP Data(in thousands, except percentages and per share data) (unaudited) Note: Certain figures may not sum due to rounding. Three months ended April 30, Year ended January 31, 20252024202520242023Free cash flow and free cash flow marginNet cash provided by operating activities$30,670$28,647$117,891$71,974$16,980Purchases of property and equipment(441)(457)(2,791)(2,164)(4,637)Capitalization of software costs(1,243)(1,092)(6,686)(5,384)(3,836)Free cash flow$28,986$27,098$108,414$64,426$8,507Net cash used in investing activities$(1,682)$(2,821)$(19,968)$(30,525)$(86,165)Net cash (used in) provided by financing activities$(3,955)$(6,261)$(116,138)$51,600$(6,413) Revenue $119,805$111,172$467,499$430,699$370,793Operating cash flow margin26%26%25%17%5%Free cash flow margin24%24%23%15%2%