secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001013857-23-000076
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000076/0001013857-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000076/pega-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001013857-23-000076

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