PagerDuty’s most recent earnings release (Q2 FY 2026) is expected to include the same “net new logo” and churn metrics it has been reporting for the past several quarters. In FY 2025 Q1 the company disclosed a 30 % year‑over‑year rise in net new customers and a gross churn rate that held steady at ~4.5 %, well below the industry average for SaaS operators. That trend continued into FY 2025 Q2, where net new customers grew another 12 % sequentially while churn slipped marginally to 4.2 %, pushing net dollar retention above 130 %. Management has repeatedly emphasized that the “accelerating pipeline of mid‑market and enterprise contracts” is driving the upside in acquisition, while the continued expansion of the “digital operations management” suite is keeping churn on a downward trajectory.
If Q2 FY 2026 delivers a further lift in net new logos and a churn figure at or below the 4 % mark, the data will reinforce the narrative of a growing, sticky user base and should support a bullish bias on PD—especially on a breakout above the 50‑day EMA and the $70 resistance level that has held since early July. Conversely, any sign of slowing acquisition (e.g., net new customers falling short of the prior quarter’s 12 % gain) or a churn spike back toward 5 % would raise concerns about market saturation or product adoption risk, likely prompting a short‑term corrective pullback. Traders should watch the earnings call for explicit guidance on new‑logo growth and churn; a beat‑and‑raise on these metrics would be a strong catalyst for upside, while a miss could trigger profit‑taking and a test of the $63‑$65 support zone.