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Jun 30, 2023
Pegasystems Q2 2023 Earnings Report
Pegasystems' Q2 2023 financial results were released, demonstrating solid execution and a focus on balancing growth with free cash flow.
Key Takeaways
Pegasystems reported a 9% increase in total revenue, reaching $298.27 million. The company saw improvements in net loss, with GAAP net loss decreasing by 84% to $46.80 million and non-GAAP net income of $1.20 million. ACV grew 13% year over year, and the company achieved record cash flow in the first half of 2023.
Operating cash flow exceeded $110 million, and free cash flow exceeded $120 million in the first half of 2023.
Annual contract value (ACV) grew 13% year over year.
Pega Cloud gross margin expanded to 73%.
The company is focusing on client success and go-to-market alignment to improve operating effectiveness.
Revenue by Segment
Forward Guidance
Pegasystems will be looking to further increase operating effectiveness with additional improvements in their go-to-market alignment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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