> Despite executing well over the last eight quarters, sustaining high growth and dramatically improving operating margins, there is more to do to secure PagerDuty’s future. Thank you for all your hard work and execution - please be sure to pick up your pink slip on the way out the door.
It's a business not a charity. Did the company not pay them for their work already?
- Revenue was $94.2 million, an increase of 31.3% year over year.
- Delivered a third quarter dollar-based net retention rate of 123% as of October 31, 2022, compared to 124% in the year ago period.
- Achieved non-GAAP profitability a quarter ahead of previous guidance, expanding non-GAAP operating margin to 3% for the three months ended October 31, 2022, an improvement of 1,000 basis points over the year ago period.
My point isn't to say that employees are owed something. You are right, business is not charity. The problem is the lack of any consistent social contract. You can spend all of your time and energy executing at 110% and still be shown the door. At the end of the day, you are labor, not capital. And capital reigns supreme today. As a public company, PD has to make its shareholders happy at all costs. I'm not casting judgement on that, but no real assurance of loyalty in employment combined with no good social safety net (at least here in the USA) is a dangerous and often stressful mix. Add out-of-control inflation, increasing housing costs, and a tightening labor market to that to really ramp up the pressure on folks.