secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2023-02-15T23:59:59+00:00
Accession:  0001013857-23-000021
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000021/0001013857-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000021/pega-20230215.htm
  HTML page:      https://secwatch.observer/filing/0001013857-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer