Slide 1: Q2 Fiscal Year 2027 Investor Presentation
Q2 Fiscal Year 2027 Investor Presentation Period ended July 31, 2026
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements. All statements other than statements of historical Forward-looking statements represent PagerDuty’s management’s beliefs and assumptions only as of fact contained in this presentation, are forward-looking statements, including but no
Slide 3: Our Vision: Autonomous Operations
Our Vision: Autonomous Operations Prevents Incidents Human + Agent Incident Response • Event orchestration & intelligence • Chat-native collaboration Data at Scale • AI Agents & Workflow • 750+ API and 20 MCP automation integrations • 12 billion events* Autonomous • 16 million incident workflows* • 10
Slide 4: Constant and Deliberate Innovation
Constant and Deliberate Innovation 16 years of domain expertise 86B Events ingested 828M incidents created by 99.9% customers 10+ $100M web availability SLA 2026 annual R&D investment 2025 years of AI innovation AI Ecosystem 2024 Platform MCP 2022 2023 GenAI 2019 2020 2021 2009 2010 2018 Incident Lo
Slide 5: AI Is Accelerating Software — and Operational Risk
AI Is Accelerating Software — and Operational Risk More code shipped faster, by more autonomous agents, means more can break. Resilient, automated operations are now a board-level priority. Operational efficiency Disruptions are Resilience and reliability remain a board-level investment is a foundatio
Slide 6: AI Is Accelerating Software — and Our Opportunity
AI Is Accelerating Software — and Our Opportunity Agentic $s ITOM Spend (e.g. agents) $44 The agentic era $35 is paying off $26 $4 $10 $17 46% CY26-30 88% CAGR of agentic-AI early adopters already see CY25 CY26 CY27 CY28 CY29 CY30 positive returns Y/Y: 151% 74% 51% 36% 27% Source: Google DORA, The RO
Slide 7: Trusted by Innovators and Category Leaders
Trusted by Innovators and Category Leaders Software & Financial Retail & Healthcare Media & Travel & AI Technology Services & Wholesale Entertainment Hospitality Insurance 7
Slide 8: Q2 Results
Q2 Results PagerDuty
Slide 9: The AI-first Digital Operations Platform
The AI-first Digital Operations Platform $501M $124M 24% 26% Annual recurring revenue Total revenue Non-GAAP operating margin Free cash flow margin 15,506 884 98% 750+/20+ Total paid customers Customers > $100K ARR Dollar-based net retention Platform / MCP integrations See appendix for GAAP-to-non-GAA
Slide 10: Durable Profitability
Durable Profitability Non-GAAP Operating Margin Gross Margin 30% Target Performance of 85% Consistently tracking the long-term target baseline target of 84%-86% See appendix for GAAP-to-non-GAAP reconciliations for FY24, FY25, FY26, and Q2’FY27. For non-GAAP reconciliation for Q1’FY27, see https://s2
Slide 11: Disciplined and Efficient Operations
Disciplined and Efficient Operations Operating cash flow margin Free cash flow margin Managing for profitable growth Returning cash to investors Modeling assistance update: FY27 free cash flow margin to align with FY26 See appendix for GAAP-to-non-GAAP reconciliations for FY24, FY25, FY26, and Q2’FY27. Fo
Slide 12: Share Repurchase Program
Share Repurchase Program $100M $200M $100M 2024 Share 2025 Share 2026 Share Repurchase Program Repurchase Program Repurchase Program completed November 2024 completed March 2026 $8M repurchased, $92M remaining Note: As of July 31, 2026 12
Slide 13: Balance Sheet
Balance Sheet $470M $426M* Flexibility to invest In operational efficiency, productivity and innovation. Cash, cash equivalents RPO and investments $309M of RPO expected to be recognized over the next 12 months. Note: As of July 31, 2026 *Of this amount, approximately $309 million is expected to be re
Slide 14: Updated Guidance
Updated Guidance Issued August 27, 2026 Q3 FY 2027 Full-year FY27* Revenue $123M - $125M $488.5M – $496.5M $491.5M - $496.5M Non-GAAP operating margin 26.5% - 27.5% 24 – 25% 25% - 26% Non-GAAP EPS (diluted) $0.34– $0.36 $1.27 – $1.32 $1.33 – $1.37 PagerDuty has not provided the GAAP equivalent or re
Slide 15: Thank You
Thank You Resilient, autonomous operations for the AI era. Investor Relations Newsroom investor.pagerduty.com pagerduty.com/newsroom Customer stories Product pagerduty.com/customers pagerduty.com 15
Slide 16: Appendix
Appendix PagerDuty
Slide 17: Resources
Resources Investor Relations Page https://investor.pagerduty.com PagerDuty Newsroom https://www.pagerduty.com/newsroom/ PagerDuty Introduction https://support.pagerduty.com/main/docs/introduction Knowledge Base https://support.pagerduty.com/ Case Studies https://www.pagerduty.com/customers/ Executiv
Slide 18: Definitions
Definitions Annual 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
Slide 19: Reconciliation
Reconciliation PagerDuty, Inc. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three months ended July 31, Year ended January 31, 2026 2025 2026 2025 2024 Non-GAAP gross profit and non-GAAP gross margin Gross profit $104,399 $104,410 $418,404 $
Slide 20: Reconciliation con’t
Reconciliation con’t PagerDuty, Inc. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three months ended July 31, Year ended January 31, 2026 2025 2026 2025 2024 Non-GAAP sales and marketing Sales and marketing $38,325 $44,456 $184,040 $201,82
Slide 21: Reconciliation con’t
Reconciliation con’t PagerDuty, Inc. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three months ended July 31, Year ended January 31, 2026 2025 2026 2025 2024 Non-GAAP operating income and non-GAAP operating margin Income (loss) from operat
Slide 22: Reconciliation
Reconciliation PagerDuty, Inc. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three months ended July 31, Year ended January 31, 2026 2025 2026 2025 2024 Non-GAAP net income attributable to PagerDuty, Inc. common stockholders Net income (los
Slide 23: Reconciliation con’t
Reconciliation con’t PagerDuty, Inc. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three months ended July 31, Year ended January 31, 2026 2025 2026 2025 2024 Free cash flow and free cash flow margin Net cash provided by operating activities
Slide 24: Q&A
&A PagerDuty 24