---
schema_version: "secwatch.filing_event.v1"
accession: "0001013857-23-000021"
form_type: "8-K"
ticker: "PEGA"
cik: "0001013857"
company_name: "PEGASYSTEMS INC"
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T10:15:47.058408+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001013857-23-000021
- form_type: 8-K
- ticker: PEGA
- cik: 0001013857
- company_name: PEGASYSTEMS INC
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000021/0001013857-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000021/pega-20230215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013857-23-000021
- JSON: https://secwatch.observer/filing/0001013857-23-000021.json
- Plain text: https://secwatch.observer/filing/0001013857-23-000021.txt

## Key facts
- Earnings Releases
  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
  source text: 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 $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000021/0001013857-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.