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Side-by-side financial comparison of PagerDuty, Inc. (PD) and Vericel Corp (VCEL). Click either name above to swap in a different company.
PagerDuty, Inc. is the larger business by last-quarter revenue ($124.5M vs $92.9M, roughly 1.3× Vericel Corp). PagerDuty, Inc. runs the higher net margin — 129.7% vs 25.0%, a 104.7% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 4.7%). PagerDuty, Inc. produced more free cash flow last quarter ($24.1M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 5.9%).
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
PD vs VCEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $124.5M | $92.9M |
| Net Profit | $161.6M | $23.2M |
| Gross Margin | 85.3% | 78.7% |
| Operating Margin | 6.5% | 24.1% |
| Net Margin | 129.7% | 25.0% |
| Revenue YoY | 4.7% | 23.3% |
| Net Profit YoY | 2827.7% | 17.3% |
| EPS (diluted) | $1.69 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $124.5M | $92.9M | ||
| Q3 25 | $123.4M | $67.5M | ||
| Q2 25 | $119.8M | $63.2M | ||
| Q1 25 | $121.4M | $52.6M | ||
| Q4 24 | $118.9M | $75.4M | ||
| Q3 24 | $115.9M | $57.9M | ||
| Q2 24 | $111.2M | $52.7M | ||
| Q1 24 | $111.1M | $51.3M |
| Q4 25 | $161.6M | $23.2M | ||
| Q3 25 | $9.6M | $5.1M | ||
| Q2 25 | $-7.2M | $-553.0K | ||
| Q1 25 | $-8.8M | $-11.2M | ||
| Q4 24 | $-5.9M | $19.8M | ||
| Q3 24 | $-10.9M | $-901.0K | ||
| Q2 24 | $-17.1M | $-4.7M | ||
| Q1 24 | $-28.2M | $-3.9M |
| Q4 25 | 85.3% | 78.7% | ||
| Q3 25 | 84.6% | 73.5% | ||
| Q2 25 | 84.0% | 73.7% | ||
| Q1 25 | 83.6% | 69.0% | ||
| Q4 24 | 83.0% | 77.6% | ||
| Q3 24 | 82.7% | 71.9% | ||
| Q2 24 | 82.6% | 69.5% | ||
| Q1 24 | 81.7% | 68.9% |
| Q4 25 | 6.5% | 24.1% | ||
| Q3 25 | 2.9% | 5.1% | ||
| Q2 25 | -8.6% | -3.2% | ||
| Q1 25 | -9.6% | -24.3% | ||
| Q4 24 | -8.7% | 24.5% | ||
| Q3 24 | -13.8% | -4.3% | ||
| Q2 24 | -19.5% | -11.5% | ||
| Q1 24 | -30.1% | -10.7% |
| Q4 25 | 129.7% | 25.0% | ||
| Q3 25 | 7.8% | 7.5% | ||
| Q2 25 | -6.0% | -0.9% | ||
| Q1 25 | -7.2% | -21.4% | ||
| Q4 24 | -5.0% | 26.3% | ||
| Q3 24 | -9.4% | -1.6% | ||
| Q2 24 | -15.4% | -8.9% | ||
| Q1 24 | -25.3% | -7.5% |
| Q4 25 | $1.69 | $0.46 | ||
| Q3 25 | $0.10 | $0.10 | ||
| Q2 25 | $-0.07 | $-0.01 | ||
| Q1 25 | $-0.12 | $-0.23 | ||
| Q4 24 | $-0.07 | $0.40 | ||
| Q3 24 | $-0.14 | $-0.02 | ||
| Q2 24 | $-0.26 | $-0.10 | ||
| Q1 24 | $-0.34 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $547.8M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $320.5M | $354.6M |
| Total Assets | $1.0B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.8M | $137.5M | ||
| Q3 25 | $567.9M | $135.4M | ||
| Q2 25 | $597.1M | $116.9M | ||
| Q1 25 | $570.8M | $112.9M | ||
| Q4 24 | $542.2M | $116.2M | ||
| Q3 24 | $599.3M | $101.7M | ||
| Q2 24 | $592.8M | $102.5M | ||
| Q1 24 | $571.2M | $110.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $484.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $489.5M | — |
| Q4 25 | $320.5M | $354.6M | ||
| Q3 25 | $180.7M | $321.9M | ||
| Q2 25 | $145.7M | $306.8M | ||
| Q1 25 | $129.8M | $295.5M | ||
| Q4 24 | $111.6M | $292.0M | ||
| Q3 24 | $164.7M | $257.5M | ||
| Q2 24 | $174.0M | $243.0M | ||
| Q1 24 | $171.6M | $233.9M |
| Q4 25 | $1.0B | $488.0M | ||
| Q3 25 | $891.5M | $453.3M | ||
| Q2 25 | $926.8M | $435.6M | ||
| Q1 25 | $927.3M | $424.6M | ||
| Q4 24 | $866.8M | $432.7M | ||
| Q3 24 | $916.0M | $390.4M | ||
| Q2 24 | $924.0M | $376.8M | ||
| Q1 24 | $925.3M | $356.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.73× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.85× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $24.8M | $15.0M |
| Free Cash FlowOCF − Capex | $24.1M | $12.8M |
| FCF MarginFCF / Revenue | 19.3% | 13.8% |
| Capex IntensityCapex / Revenue | 0.6% | 2.4% |
| Cash ConversionOCF / Net Profit | 0.15× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $117.6M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.8M | $15.0M | ||
| Q3 25 | $34.0M | $22.1M | ||
| Q2 25 | $30.7M | $8.2M | ||
| Q1 25 | $31.4M | $6.6M | ||
| Q4 24 | $22.1M | $22.2M | ||
| Q3 24 | $35.8M | $10.2M | ||
| Q2 24 | $28.6M | $18.5M | ||
| Q1 24 | $22.2M | $7.2M |
| Q4 25 | $24.1M | $12.8M | ||
| Q3 25 | $33.1M | $19.5M | ||
| Q2 25 | $30.2M | $81.0K | ||
| Q1 25 | $30.3M | $-7.6M | ||
| Q4 24 | $21.5M | $8.5M | ||
| Q3 24 | $35.1M | $-9.2M | ||
| Q2 24 | $28.2M | $1.8M | ||
| Q1 24 | $21.2M | $-6.8M |
| Q4 25 | 19.3% | 13.8% | ||
| Q3 25 | 26.8% | 28.8% | ||
| Q2 25 | 25.2% | 0.1% | ||
| Q1 25 | 24.9% | -14.5% | ||
| Q4 24 | 18.1% | 11.2% | ||
| Q3 24 | 30.3% | -15.9% | ||
| Q2 24 | 25.4% | 3.4% | ||
| Q1 24 | 19.1% | -13.3% |
| Q4 25 | 0.6% | 2.4% | ||
| Q3 25 | 0.7% | 3.9% | ||
| Q2 25 | 0.4% | 12.9% | ||
| Q1 25 | 0.9% | 27.0% | ||
| Q4 24 | 0.5% | 18.3% | ||
| Q3 24 | 0.5% | 33.5% | ||
| Q2 24 | 0.4% | 31.8% | ||
| Q1 24 | 0.9% | 27.3% |
| Q4 25 | 0.15× | 0.65× | ||
| Q3 25 | 3.55× | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
