Pegasystems Q4 GAAP profit $34.6M, revenue up 25% YoY; 2023 FCF guide $150M

PEGASYSTEMS INC

2022-FY EPS reported -$4.22 revenue$1,317,845,000

Q4 GAAP net income $34.6M ($0.41 diluted EPS) vs loss of $37.2M year ago; non-GAAP net income $68.3M ($0.82).
Full-year 2022 revenue $1.318B (+9% YoY); subscription revenue exceeded $1B for the first time.
ACV grew 16% YoY in constant currency; Pega Cloud gross margin reached 70%.
2023 guidance: revenue ~$1.4B, non-GAAP EPS $1.50, GAAP EPS $0.02, free cash flow ~$150M.
Q4 subscription revenue $340.9M (86% of total), up 37% YoY driven by subscription license growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEGASYSTEMS INC reported fourth quarter and full-year 2022 results: revenue $396,470, net income $34,613, EPS $0.41. Guidance initiated.

Period: fourth quarter and full-year 2022
Revenue: $396,470
Net income: $34,613
EPS: $0.41
Guidance: initiated
Result: reported results

Exact text from the filing

performance metrics (1) (Dollars in thousands, except per share amounts) Three Months Ended December 31, Year Ended December 31, 2022 2021 Change 2022 2021 Change Total revenue $ 396,470 $ 316,184 25 % $ 1,317,845 $ 1,211,653 9 % Net income (loss) - GAAP $ 34,613 $ (37,246) * $ (345,582) $ (63,040) (448) % Net income - non-GAAP $ 68,341 $ 3,051 2140 % $ 59,611 $

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Source: SEC EDGAR

accession 0001013857-23-000021

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