Pegasystems Q1 revenue down 14%, GAAP loss widens; ACV grows 15%

PEGASYSTEMS INC

2023-Q1 EPS reported -$0.25 revenue$325,472,000

Total revenue $325.5M, down 14% YoY; GAAP net loss $20.8M vs $0.4M loss in Q1 2022.
ACV grew 15% on a constant currency basis; Pega Cloud revenue $107.9M (+19% YoY).
Subscription license revenue fell 39% to $84.5M; consulting revenue down 13% to $53.0M.
Non-GAAP net income $19.2M, down 62%; non-GAAP diluted EPS $0.23 vs $0.59.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

PEGASYSTEMS INC reported the first quarter of 2023 results: revenue $ 325,472, net income $ (20,774), EPS $ (0.25).

Period: the first quarter of 2023
Revenue: $ 325,472
Net income: $ (20,774)
EPS: $ (0.25)
Result: reported results

Exact text from the filing

applying the Q1 2022 foreign exchange rates to all periods shown. 2 (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2023 2022 Change Total revenue $ 325,472 $ 376,307 (14) % Net (loss) - GAAP $ (20,774) $ (379) * Net income - non-GAAP $ 19,220 $ 50,174 (62) % Diluted (loss) per share - GAAP $ (0.25) $ 0.00 * Diluted earnings per share

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Source: SEC EDGAR

accession 0001013857-23-000076

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