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PagerDuty CEO Jennifer Tejada on Earnings, Smartsheet CEO Mark Mader on Q3 Results & Defense Tech Start-Up Anduril Reaches $7 Billion Valuation 12/2/22

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.566 Ratings

🗓️ 2 December 2022

⏱️ 43 minutes

🧾️ Download transcript

Summary

Our anchors begin today’s show with Verge Editor-in-Chief Nilay Patel discussing layoffs across tech, and CNBC’s Kate Rooney reports on the Department of Justice asking for an independent probe into the bankruptcy of FTX. Next, we talk Q3 results with PagerDuty CEO Jennifer Tejada and Smartsheet CEO Mark Mader, and our Julia Boorstin covers cost cutting measures affecting private companies on CNBC’s Disruptor 50 list. Later, Oculus Founder Palmer Luckey joins after Anduril, his defense technology start-up, reached a $7 billion valuation with a new funding round. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

0:07.4

Good Friday morning, by the way, and welcome to Tech Check. I'm Georgia Bowdozen, San Francisco,

0:12.4

with John Fort at headquarters. Carl has the morning off. Today, stocks sliding after hotter than

0:18.5

anticipated jobs data, but the NASDAQ is still positive on the week after that big rally following Fed Chair Powell's remarks on Wednesday. We will take a look at how layoffs are impacting tech. Plus, what are earnings telling us about enterprise demand? Marvell, Z-scaler, Asana falling. Some SAR in PagerDuty, though, they are getting a boost today. And speaking of PagerDuty, Cloud Week is coming to an end here on Tech Check.

0:39.4

But we have two more big interviews to close out the week.

0:41.7

The CEOs of both PagerDuty and SmartSheet are coming up this hour, John.

0:45.8

Yeah, let's run through some of those names that you mentioned.

0:50.0

Start off with cloud earnings their mix this morning.

0:53.2

One big mover, as you mentioned,

0:55.0

I think Asana falling 14% after the work management platform offered weaker than expected

1:01.2

revenue guidance for the fourth quarter. On the other end of things, though, we've got Samara,

1:06.3

which is a larger market cap than Asana, and it is up 20% on strong results.

1:12.8

On the downside, Z-Scaler, the cybersecurity firm posting earnings and guidance beats,

1:18.4

but investors are worried as the company reorganized its sales team and the CFO,

1:24.0

Rimo Canessa, told analysts larger deals taking longer to close.

1:28.4

I don't know if that sounds familiar.

1:29.8

We heard something similar from Snowflake and others.

1:33.6

As customers take a longer look at their wallets.

1:36.6

And then on the other end, PagerDuty, that is up 5.5% as, hey, people have to continue

1:42.9

to watch their networks. And PagerDuty with its

1:47.9

automation, as you've got fewer tech workers available, that has been suffering, that's been

1:54.0

doing better, I should say. People need that technology. Lastly, Marvell, that semiconductor

...

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