Pegasystems Q2 2024 Earnings Report
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 Blueprintâ„¢, 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
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