Pegasystems Q3 rev $334.6M (+24%), GAAP loss narrows to $7.3M, ACV +12%, record free cash flow $124M

PEGASYSTEMS INC

2023-Q3 EPS reported -$0.90 revenue$958,383,000

Record free cash flow of $124M through Q3 2023; operating cash flow $138M.
Q3 total revenue $334.6M, up 24% YoY, driven by subscription revenue growth of 34%.
GAAP net loss improved 92% to $7.3M; non-GAAP net income $37.6M vs loss $27.5M a year ago.
Pega Cloud gross margin reached 74% through Q3; Cloud revenue $118M, up 21% YoY.
Annual contract value grew 12% YoY (10% constant currency) to $1.169B.

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 0.95

PEGASYSTEMS INC reported the third quarter of 2023 results: revenue $334,643, net income $(7,279) - GAAP, EPS $(0.09) per diluted share - GAAP.

Period: the third quarter of 2023
Revenue: $334,643
Net income: $(7,279) - GAAP
EPS: $(0.09) per diluted share - GAAP
Result: reported results

Exact text from the filing

(continued) (Dollars in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 Change 2023 2022 Change Total revenue $ 334,643 $ 270,731 24 % $ 958,383 $ 921,375 4 % Net (loss) - GAAP $ (7,279) $ (93,520) 92 % $ (74,857) $ (380,195) 80 % Net income (loss) - non-GAAP $ 37,595 $ (27,498) * $ 58,018 $

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Source: SEC EDGAR

accession 0001013857-23-000199

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