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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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