---
schema_version: "secwatch.filing_event.v1"
accession: "0001013857-23-000076"
form_type: "8-K"
ticker: "PEGA"
cik: "0001013857"
company_name: "PEGASYSTEMS INC"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T11:19:36.380600+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001013857-23-000076
- form_type: 8-K
- ticker: PEGA
- cik: 0001013857
- company_name: PEGASYSTEMS INC
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000076/0001013857-23-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000076/pega-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013857-23-000076
- JSON: https://secwatch.observer/filing/0001013857-23-000076.json
- Plain text: https://secwatch.observer/filing/0001013857-23-000076.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1013857/000101385723000076/0001013857-23-000076-index.htm

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