Pega Q4 2023: Revenue up 20% YoY, ACV grows 11%, record free cash flow over $200M

PEGASYSTEMS INC

2023-FY EPS reported $0.73 revenue$1,432,616,000

Q4 GAAP net income of $142.7M ($1.61 EPS) vs $34.6M ($0.41 EPS) in Q4 2022; non-GAAP EPS $1.77.
Full-year 2023 revenue $1.43B (+9%); GAAP net income $67.8M vs loss of $345.6M in 2022.
Annual contract value (ACV) reached $1.255B, up 11% YoY; Pega Cloud revenue up 26% in Q4.
2024 guidance: Revenue ~$1.5B, GAAP EPS $1.18, non-GAAP EPS $2.75; free cash flow ~$350M.
Operating cash flow and free cash flow both exceeded $200M for first time; cloud gross margin 74%.

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 0.9

PEGASYSTEMS INC reported 2024 results: revenue $1.5 Billion, EPS $1.18. Guidance raised.

Period: 2024
Revenue: $1.5 Billion
EPS: $1.18
Guidance: raised
Result: guidance update

Exact text from the filing

2024 GAAP Non-GAAP (1) Revenue $1.5 Billion $1.5 Billion Diluted earnings per share $1.18 $2.75

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEGASYSTEMS INC updated its the fourth quarter and full-year 2023 guidance (raised).

Period: the fourth quarter and full-year 2023
Guidance: raised
Result: reported results

Exact text from the filing

Pegasystems Inc. issued a press release announcing its financial results for the fourth quarter and full-year 2023. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

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Source: SEC EDGAR

accession 0001013857-24-000013

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