secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001013857-23-000199
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000199/0001013857-23-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000199/pega-20231025.htm
  HTML page:      https://secwatch.observer/filing/0001013857-23-000199

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