PagerDuty, Inc. (NYSE: PD)

This investigation is for anyone who acquired securities in PagerDuty, Inc. (NYSE: PD) prior to November 25, 2025.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by failing to timely disclose issues with customer retention as the Company has changed its pricing model.

On November 25, 2025, PagerDuty released third quarter fiscal 2026 financial results, revealing, among other things, “Dollar-based net retention rate was 100% as of October 31, 2025, compared to 107% as of October 31, 2024.” The Company also cut its full year financial outlook to “revenue of $490.0 million – $492.0 million (compared to the previous guidance of $493.0 million – $497.0 million), representing a growth rate of 5% year over year.” During the related earnings call, the Company’s CFO stated “[a]lthough the number of customers churning and downgrading is trending downwards, the dollar value of the contraction, driven by seat-based reductions and customer budget caution has been larger than we forecast.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in PagerDuty, Inc. (NYSE: PD) prior to November 25, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.