Pegasystems Q4 2022 Earnings Report
Key Takeaways
Pegasystems reported a strong finish to 2022, with total revenue of $396.47 million, a 25% increase year-over-year. The company's net income (GAAP) was $34.61 million, a significant improvement compared to the $(37.246) million loss in the same period last year. Non-GAAP net income was $68.341 million, a substantial increase from $3.051 million in the prior year. The company's annual contract value (ACV) grew 16% year over year (constant currency) and Pega Cloud gross margin reached 70%.
Total revenue increased by 25% year-over-year, reaching $396.47 million.
Net income (GAAP) improved to $34.61 million, compared to a loss of $(37.246) million in the same period last year.
Non-GAAP net income saw a significant increase to $68.341 million.
Annual contract value (ACV) grew 16% year over year (constant currency).
Pegasystems
Pegasystems
Pegasystems Revenue by Segment
Forward Guidance
Pegasystems provided guidance for the year ended December 31, 2023, with revenue expected to be $1.4 billion and free cash flow expected to be $150 million.
Positive Outlook
- Annual contract value growth of 11% - 13%
- Revenue of $1.4 billion
- Diluted earnings per share of $0.02
- Cash provided by operating activities of $139 million
- Free cash flow of $150 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income