Here are 1-3 brief analogies to describe PagerDuty:

• It's like ADT for your company's software, constantly monitoring for critical issues and alerting the right team immediately.
• It's like Google Maps for your company's IT operations, providing real-time visibility into problems and guiding teams to solutions.
• It's like AccuWeather for your software systems, using machine learning to predict potential outages and help you prevent them.

• Incident Management Platform: Enables real-time detection, triaging, and resolution of critical incidents across IT systems and applications.
• AIOps: Utilizes machine learning to correlate digital signals, identify patterns, predict issues, and reduce alert noise for proactive operations.
• Automation: Provides automated workflows and runbooks to streamline incident response, operational tasks, and accelerate problem resolution.
• Customer Service Operations: Extends real-time operational visibility and response capabilities to enhance customer support and experience by connecting support teams with operational incidents.

PagerDuty primarily sells its digital operations management platform to other companies (Business-to-Business or B2B). Some of its major customers, which span various industries, include:

• Zoom Video Communications (Symbol: ZM)
• Netflix (Symbol: NFLX)
• Shopify (Symbol: SHOP)
• Atlassian (Symbol: TEAM)
• Salesforce (Symbol: CRM)

• Amazon.com, Inc. (AMZN) - (for Amazon Web Services)
• Twilio Inc. (TWLO)

Jennifer Tejada, Chairperson and CEO

Jennifer Tejada has a successful track record in product innovation, optimizing operations, and scaling public and private enterprise technology companies over 25 years. Prior to her role at PagerDuty, she was CEO of Keynote Systems, where she led the company to strong, profitable growth before its acquisition by Dynatrace. She was also Executive Vice President and Chief Strategy Officer at Mincom, leading its global strategy up to its acquisition by ABB. She has held senior positions at Procter & Gamble and i2 Technologies. Tejada is also an active tech investor.

Howard Wilson, Chief Financial Officer

Howard Wilson leads PagerDuty's internal and strategic execution, building and directing the finance organization to support the company's growth. He brings more than 20 years of experience in software, services, and operational management to his role. Before becoming CFO in 2018 (after serving as acting CFO from December 2017), he was PagerDuty's Chief Commercial Officer. Prior to joining PagerDuty, he oversaw the SaaS business at Dynatrace and was the Chief Operating Officer at Keynote Systems. Wilson also served as Senior Vice President of Field Operations at Ventyx and spent 14 years in various senior leadership roles at Oracle.

Jeff Hausman, Chief Product Development Officer

Jeff Hausman joined PagerDuty in February 2024, where he is responsible for the company's product strategy, product management, engineering, design, and user experience. Before PagerDuty, Hausman was the Chief Product Officer at Samsara. He previously served as ServiceNow Senior Vice President and General Manager of the Operations Management Portfolio and has over 25 years of experience leading product development as a senior executive across a wide range of products at McAfee, Symantec, Hewlett-Packard, and Veritas.

Katherine Post Calvert, Chief Marketing Officer

Katherine Post Calvert joined PagerDuty as Chief Marketing Officer in May 2022. She has over 20 years of leadership experience in global marketing strategy, branding, product marketing, campaign management, demand generation, and marketing automation. Prior to PagerDuty, Calvert served as CMO at Khoros, a customer engagement platform provider, where she led the global marketing strategy. She also served as CMO of Advent Software.

Tim Armandpour, Chief Technology Officer

Tim Armandpour is the Chief Technology Officer at PagerDuty, where he leads the company's long-term technology strategy, architecture vision, security, and technology research. He brings a 20-year history of applying technological innovation to maximize value to users. Before joining PagerDuty, Tim led product management and engineering teams at Yapstone, a global payment solutions provider, and global engineering teams at PayPal.

The key risks to PagerDuty's business are primarily centered around its decelerating revenue growth, intense market competition, and reliance on its core incident management product.

1. Decelerating Revenue Growth and Customer Retention Challenges

PagerDuty has been experiencing slowing growth rates, with concerns raised by analysts regarding high churn rates and stagnant revenue growth. The company faces increased challenges in expanding within existing customer accounts and attracting new ones, particularly in a tighter IT spending environment. This risk indicates that revenue growth may continue to decelerate, fluctuate, or decline, which could negatively affect the company's stock price.

2. Intense Market Competition and Need for Technological Adaptation

The digital operations management market in which PagerDuty operates is highly competitive. The company faces substantial competition from both established players and new entrants, particularly those leveraging emerging artificial intelligence (AI) technologies. PagerDuty's ability to compete effectively, retain and attract new customers, and continuously adapt its platform to rapid technological changes, evolving industry standards, and changing customer needs is critical to its operating results.

3. Reliance on a Single Product Line

A significant majority of PagerDuty's revenue is derived from its incident management product. This concentration makes the company vulnerable to competitive threats and technological shifts. If demand for this core product were to decline due to factors like increased competition, evolving technology, or changing customer preferences, it could adversely affect PagerDuty's revenue and overall financial performance.

The clear emerging threat for PagerDuty is the increasing integration of incident management, on-call automation, and AIOps capabilities directly into larger, existing IT operations management (ITOM), observability, and IT service management (ITSM) platforms offered by major competitors.

Companies like Datadog, Splunk, and ServiceNow are actively expanding their platforms with features that directly compete with PagerDuty's core offerings. For instance, observability platforms are adding sophisticated incident response and on-call scheduling, while ITSM giants are enhancing their AIOps and workflow automation. This trend towards platform consolidation could reduce the need for PagerDuty as a standalone solution, especially for enterprises that prefer a single, integrated vendor for their operational tooling.

PagerDuty (symbol: PD) estimates its total addressable market to be $50 billion globally.

This market opportunity encompasses several key areas:

• Developers, driven by digital services and software-driven innovation, account for an estimated 30 million users.
• Infrastructure and Operations, undergoing modernization with digital transformation, cloud adoption, and DevOps, represent approximately 23 million users.
• Customer Service, with a push for improving cost-efficiency and productivity through self-service and automation, has about 28 million users.
• SecOps, a smaller but influential population focused on protecting technology, data, employees, and customers, includes an estimated 6 million users.

PagerDuty believes it has approximately 1% penetration worldwide within these markets. The company serves over 20,000 customers globally, including more than 65% of the Fortune 100.

PagerDuty (PD) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives and product expansions.

1. Product Expansion with AI and Automation Capabilities: PagerDuty is focusing on broadening its digital operations management platform beyond core incident alerting to include advanced AI operations (AIOps), automation, customer service operations (CSOps), and comprehensive incident response solutions. The company is actively integrating generative AI capabilities, such as Incident Workflows, Incident Roles and Tasks, and Incident Types, as well as developing Agentic AI offerings like Agentic Site Reliability Engineer and Operational Insights. This expansion aims to address a wider range of workflows and personas, creating significant upsell and cross-sell opportunities for existing customers.

2. Enterprise and Multi-Product Customer Expansion: A significant driver of revenue growth is the continued focus on expanding PagerDuty's presence within large enterprise accounts. Management emphasizes securing multi-year, multi-product strategic deals with these customers. This strategy aims to increase the number of customers contributing over $100,000 in annual recurring revenue (ARR) and to boost the adoption of multiple PagerDuty products, fostering durable net expansion.

3. Transition to Consumption-Based "Flex" Pricing Models: PagerDuty is strategically shifting away from traditional seat-based licensing to more flexible, consumption-led pricing models. This "flex" pricing is designed to reduce friction for customers, allowing the platform to scale more efficiently across human responders, automated solutions, and various agents. This transition is expected to enable customers to explore new use cases beyond traditional digital operations, potentially including areas like manufacturing and broader AI operations, thereby driving gradual ARR improvement.

4. Strategic Partnerships and Ecosystem Integrations: PagerDuty is actively pursuing and leveraging strategic partnerships with major technology companies, including Amazon Web Services (AWS), Microsoft Azure, and ServiceNow. These alliances, along with over 700 integrations across cloud, observability, IT service management (ITSM), and security ecosystems, are crucial for expanding market reach and driving new customer acquisition. A notable partnership involves integrating PagerDuty Advance with Amazon Q Business and Amazon Bedrock to enhance AI capabilities and expand the customer base.

Share Repurchases

• PagerDuty's Board of Directors approved an increase in the company's share repurchase program to $200 million on August 28, 2025.
• In March 2025, a new share repurchase program of up to $150 million of common stock was authorized.
• A $100 million share repurchase program was completed in May 2024.

Outbound Investments

• In November 2023, PagerDuty completed the acquisition of Jeli, Inc., a cloud-based business intelligence and incident analysis platform, to enhance its incident management solution.
• PagerDuty acquired Catalytic for no-code workflows in 2022.

Capital Expenditures

• PagerDuty's latest twelve months capital expenditure was $6.93 million as of June 2025.
• Capital expenditures reached their peak in 2023.
• In the most recent quarter, capital expenditures totaled -$0.74 million USD.