Pega Q2 revenue up 9% to $420.7M; GAAP EPS $0.08, non-GAAP EPS $0.35; Pega Cloud ACV +22% YoY

PEGASYSTEMS INC

Total ACV $1.62B, up 7% YoY (8% constant currency); Pega Cloud ACV +22% YoY.
Q2 GAAP net income $13.3M (down 56% YoY); non-GAAP net income $59.5M (up 19% YoY).
First-half 2026 cash flow from operations and free cash flow each exceeded $285M.
Subscription revenue $370.5M (88% of total), up 13% YoY; consulting revenue $50.2M, down 13%.
Company warns ACV growth slowed in H1 due to AI market shifts; may continue to affect rest of year.

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