secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001013857-24-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385724000013/0001013857-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385724000013/pega-20240214.htm
  HTML page:      https://secwatch.observer/filing/0001013857-24-000013

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