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Jun 30, 2024
Pegasystems Q2 2024 Earnings Report
Growth accelerated in Q2 2024 with Pega GenAI excitement.
Key Takeaways
Pegasystems reported strong Q2 2024 financial results, with ACV growing 13% year over year in constant currency and Pega Cloud backlog exceeding $1 billion for the first time. The company's approach to statistical AI and generative AI, particularly Pega GenAI Blueprint™, has driven deeper client engagement and identified opportunities to accelerate growth.
Annual contract value (ACV) grew 13% year over year in constant currency.
Cash flow from operations reached $220 million and free cash flow hit $218 million in the first half of 2024.
Pega Cloud backlog exceeded $1 billion for the first time.
The company's AI innovation puts them in a fantastic position to pursue the massive digital transformation opportunity.
Pegasystems
Pegasystems
Pegasystems Revenue by Segment
Revenue by Segment
Pega Cloud Revenue
CapyFin.comSubscription License Revenue
CapyFin.comConsulting Revenue
CapyFin.comPerpetual License Revenue
CapyFin.comMaintenance Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income