false000101385700010138572024-07-242024-07-24

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
_________________________________
 FORM 8-K
_________________________________
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 24, 2024
____________________
PEGASYSTEMS INC.
(Exact name of Registrant as specified in its charter)
_________________________________
Massachusetts
1-11859
04-2787865
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
One Main Street, Cambridge, MA 02142
(Address of principal executive offices, including zip code)

(617) 374-9600
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, $.01 par value per sharePEGANASDAQ Global Select Market
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                         
                                                Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July 24, 2024, Pegasystems Inc. issued a press release announcing its financial results for the second quarter of 2024. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
The information in this Item 2.02 and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No.Description
99.1
104
Cover Page Interactive Data File (formatted as Inline XBRL)



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Pegasystems Inc.
Dated:July 24, 2024By:/s/ KENNETH STILLWELL
Kenneth Stillwell
Chief Operating Officer and Chief Financial Officer
(Principal Financial Officer)


EXHIBIT 99.1
q42019pegalogoa.jpg
Pega GenAI Excitement Accelerates Growth in Q2 2024
•Annual contract value (ACV) grows 13% year over year in constant currency
•Cash flow from operations reaches $220 million and free cash flow hits $218 million in the first half of 2024
•Pega Cloud backlog exceeds $1 billion for the first time
CAMBRIDGE, Mass. — July 24, 2024 — Pegasystems Inc. (NASDAQ: PEGA), the leading enterprise AI decisioning and workflow automation platform provider, released its financial results for the second quarter of 2024.
“Our approach to statistical AI and generative AI continues to be a significant differentiator,” said Alan Trefler, founder and CEO. “The offerings we’ve introduced, especially Pega GenAI Blueprint™, have captured the imagination of clients, prospects, and partners, allowing them to identify new possibilities and helping us drive deeper engagement. With tens of thousands of blueprints created over the last few months, we’re identifying opportunities to accelerate growth and creating additional momentum for Pega Cloud®.”
"I'm really proud to see how our team is improving profitability while driving ACV growth,” said Ken Stillwell, COO and CFO. “Our strong execution and our AI innovation put us in a fantastic position to pursue the massive digital transformation opportunity in front of us.”
Financial and performance metrics (1)
chart-167d461bfe83441192aa.jpg
1 Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.
1
EXHIBIT 99.1
(continued)
Reconciliation of ACV and Constant Currency ACV
(in millions, except percentages)June 30, 2023June 30, 2024
1-Year Change
ACV$1,164 $1,305 12 %
Impact of changes in foreign exchange rates— 5 
Constant currency ACV
$1,164 $1,310 13 %
Note: Constant currency ACV is calculated by applying the June 30, 2023 foreign exchange rates to all periods shown.
Cash Flow Growth
chart-b9a1d8a8a22f41fb837a.jpgchart-24e793d22e9647a6bb7a.jpg

2
EXHIBIT 99.1
(continued)
chart-95c4149c7cf54768bd0a.jpg

(Dollars in thousands,
except per share amounts)
Three Months Ended
June 30,		Six Months Ended
June 30,
20242023Change20242023Change
Total revenue$351,153 $298,268 18 %$681,300 $623,740 9 %
Net income (loss) - GAAP$6,613 $(46,804)*$(5,511)$(67,578)92 %
Net income - non-GAAP$45,841 $1,203 3711 %$87,995 $20,423 331 %
Diluted earnings (loss) per share - GAAP$0.07 $(0.56)*$(0.07)$(0.82)91 %
Diluted earnings per share - non-GAAP$0.52 $0.01 5100 %$1.00 $0.24 317 %
(Dollars in thousands)Three Months Ended
June 30,		ChangeSix Months Ended
June 30,		Change
2024202320242023
Pega Cloud$134,086 38 %$115,063 39 %$19,023 17 %$264,988 39 %$222,942 36 %$42,046 19 %
Maintenance80,344 23 %82,042 27 %(1,698)(2)%161,345 23 %161,672 26 %(327)— %
Subscription services214,430 61 %197,105 66 %17,325 9 %426,333 62 %384,614 62 %41,719 11 %
Subscription license84,647 24 %41,197 14 %43,450 105 %147,985 22 %125,724 20 %22,261 18 %
Subscription299,077 85 %238,302 80 %60,775 26 %574,318 84 %510,338 82 %63,980 13 %
Consulting52,040 15 %58,387 19 %(6,347)(11)%106,087 16 %111,420 18 %(5,333)(5)%
Perpetual license36 — %1,579 1 %(1,543)(98)%895 — %1,982 — %(1,087)(55)%
$351,153 100 %$298,268 100 %$52,885 18 %$681,300 100 %$623,740 100 %$57,560 9 %
Quarterly conference call
A conference call and audio-only webcast will be conducted at 8:00 a.m. EDT on Thursday, July 25, 2024.
Members of the public and investors are invited to join the call and participate in the question and answer session by dialing 1 (888) 415-4305 (domestic) or 1 (646) 960-0336 (international) and using Conference ID 1559653, or via https://events.q4inc.com/attendee/610142887 by logging onto www.pega.com at least five minutes prior to the event's broadcast and clicking on the webcast icon in the Investors section.
3

Discussion of non-GAAP financial measures
Our non-GAAP financial measures should only be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. We believe that these measures help investors understand our core operating results and prospects, which is consistent with how management measures and forecasts our performance without the effect of often one-time charges and other items outside our normal operations. Management uses these measures to assess the performance of the company's operations and establish operational goals and incentives. They are not a substitute for financial measures prepared under U.S. GAAP. Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.
Forward-looking statements
Certain statements in this press release may be "forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995.
Words such as expects, anticipates, intends, plans, believes, will, could, should, estimates, may, targets, strategies, intends to, projects, forecasts, guidance, likely, and usually or variations of such words and other similar expressions identify forward-looking statements. These statements represent our views only as of the date the statement was made and are based on current expectations and assumptions.
Forward-looking statements deal with future events and are subject to risks and uncertainties that are difficult to predict, including, but not limited to:
•our future financial performance and business plans;
•the adequacy of our liquidity and capital resources;
•the continued payment of our quarterly dividends;
•the timing of revenue recognition;
•variation in demand for our products and services, including among clients in the public sector;
•reliance on key personnel;
•reliance on third-party service providers, including hosting providers;
•compliance with our debt obligations and covenants;
•the potential impact of our convertible senior notes and Capped Call Transactions;
•foreign currency exchange rates;
•potential legal and financial liabilities, as well as damage to our reputation, due to cyber-attacks;
•security breaches and security flaws;
•our ability to protect our intellectual property rights, costs associated with defending such rights, intellectual property rights claims, and other related claims by third parties against us, including related costs, damages, and other relief that may be granted against us;
•our ongoing litigation with Appian Corp.;
•our client retention rate; and
•management of our growth.
These risks and others that may cause actual results to differ materially from those expressed in such forward-looking statements are described further in Part I of our Annual Report on Form 10-K for the year ended December 31, 2023, and other filings we make with the U.S. Securities and Exchange Commission (“SEC”).
Investors are cautioned not to place undue reliance on such forward-looking statements, and there are no assurances that the results included in such statements will be achieved. Although subsequent events may cause our view to change, except as required by applicable law, we do not undertake and expressly disclaim any obligation to publicly update or revise these forward-looking statements, whether as the result of new information, future events, or otherwise.
Any forward-looking statements in this press release represent our views as of July 24, 2024.
4

About Pegasystems
Pega provides a powerful platform that empowers the world's leading organizations to unlock business-transforming outcomes with real-time optimization. Clients use our enterprise AI decisioning and workflow automation to solve their most pressing business challenges - from personalizing engagement to automating service to streamlining operations. Since 1983, we've built our scalable and flexible architecture to help enterprises meet today's customer demands while continuously transforming for tomorrow. For more information on how Pega (NASDAQ: PEGA) empowers its clients to Build for Change®, visit www.pega.com.
Press contact:
Lisa Pintchman
VP, Corporate Communications
lisapintchman.rogers@pega.com
617-866-6022
Twitter: @pega
Investor contact:
Peter Welburn
VP, Corporate Development & Investor Relations
PegaInvestorRelations@pega.com
617-498-8968
All trademarks are the property of their respective owners.
5


PEGASYSTEMS INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Revenue
Subscription services$214,430 $197,105 $426,333 $384,614 
Subscription license84,647 41,197 147,985 125,724 
Consulting52,040 58,387 106,087 111,420 
Perpetual license36 1,579 895 1,982 
Total revenue351,153 298,268 681,300 623,740 
Cost of revenue
Subscription services36,238 36,783 72,062 73,647 
Subscription license477 623 1,120 1,342 
Consulting60,231 58,710 118,413 119,058 
Perpetual license— 24 9 27 
Total cost of revenue96,946 96,140 191,604 194,074 
Gross profit254,207 202,128 489,696 429,666 
Operating expenses
Selling and marketing139,761 143,858 267,456 293,655 
Research and development75,425 73,931 147,538 149,307 
General and administrative25,420 23,462 48,947 46,572 
Litigation settlement, net of recoveries— — 32,403 — 
Restructuring635 2,167 798 3,628 
Total operating expenses241,241 243,418 497,142 493,162 
Income (loss) from operations12,966 (41,290)(7,446)(63,496)
Foreign currency transaction gain (loss)437 (3,290)(2,825)(5,965)
Interest income6,785 1,814 12,066 3,299 
Interest expense(1,656)(1,778)(3,408)(3,696)
(Loss) income on capped call transactions(3,277)(1,361)22 1,845 
Other income, net— 5,702 1,684 12,285 
Income (loss) before provision for income taxes15,255 (40,203)93 (55,728)
Provision for income taxes8,642 6,601 5,604 11,850 
Net income (loss)$6,613 $(46,804)$(5,511)$(67,578)
Earnings (loss) per share
Basic$0.08 $(0.56)$(0.07)$(0.82)
Diluted$0.07 $(0.56)$(0.07)$(0.82)
Weighted-average number of common shares outstanding
Basic85,157 83,039 84,712 82,823 
Diluted88,500 83,039 84,712 82,823 
6

PEGASYSTEMS INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
June 30, 2024December 31, 2023
Assets
Current assets:
Cash and cash equivalents$258,257 $229,902 
Marketable securities406,819 193,436 
Total cash, cash equivalents, and marketable securities665,076 423,338 
Accounts receivable, net165,723 300,173 
Unbilled receivables, net164,533 237,379 
Other current assets76,323 68,137 
Total current assets1,071,655 1,029,027 
Long-term unbilled receivables, net81,218 85,402 
Goodwill81,410 81,611 
Other long-term assets302,249 314,696 
Total assets$1,536,532 $1,510,736 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$16,682 $11,290 
Accrued expenses44,875 39,941 
Accrued compensation and related expenses81,110 126,640 
Deferred revenue352,618 377,845 
Convertible senior notes, net500,604 — 
Other current liabilities20,677 21,343 
Total current liabilities1,016,566 577,059 
Long-term convertible senior notes, net— 499,368 
Long-term operating lease liabilities70,202 66,901 
Other long-term liabilities14,362 13,570 
Total liabilities1,101,130 1,156,898 
Total stockholders’ equity435,402 353,838 
Total liabilities and stockholders’ equity$1,536,532 $1,510,736 

PEGASYSTEMS INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Six Months Ended
June 30,
20242023
Net (loss)$(5,511)$(67,578)
Adjustments to reconcile net (loss) to cash provided by operating activities
Non-cash items116,288 119,371 
Change in operating assets and liabilities, net109,466 61,959 
Cash provided by operating activities220,243 113,752 
Cash (used in) provided by investing activities(209,700)15,979 
Cash provided by (used in) financing activities22,503 (86,988)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash(2,842)1,010 
Net increase in cash, cash equivalents, and restricted cash30,204 43,753 
Cash, cash equivalents, and restricted cash, beginning of period232,827 145,054 
Cash, cash equivalents, and restricted cash, end of period$263,031 $188,807 
7

PEGASYSTEMS INC.
RECONCILIATION OF SELECTED GAAP AND NON-GAAP MEASURES
(in thousands, except percentages and per share amounts)
Three Months Ended
June 30,		Six Months Ended
June 30,
20242023Change20242023Change
Net income (loss) - GAAP$6,613 $(46,804)*$(5,511)$(67,578)92 %
Stock-based compensation (1)
36,224 36,227 71,005 78,784 
Restructuring635 2,167 798 3,628 
Legal fees2,409 2,842 4,351 4,318 
Litigation settlement, net of recoveries— — 32,403 — 
Amortization of intangible assets789 963 1,753 2,012 
Interest on convertible senior notes619 647 1,236 1,375 
Capped call transactions3,277 1,361 (22)(1,845)
Repurchases of convertible senior notes— (5,074)— (7,855)
Foreign currency transaction (gain) loss(437)3,290 2,825 5,965 
Other
— (678)(1,628)(4,471)
Income taxes (2)
(4,288)6,262 (19,215)6,090 
Net income - non-GAAP$45,841 $1,203 3,711 %$87,995 $20,423 331 %
Diluted earnings (loss) per share - GAAP$0.07 $(0.56)*$(0.07)$(0.82)91 %
non-GAAP adjustments0.45 0.57 1.07 1.06 
Diluted earnings per share - non-GAAP$0.52 $0.01 5,100 %$1.00 $0.24 317 %
Diluted weighted-average number of common shares outstanding - GAAP88,500 83,039 7 %84,712 82,823 2 %
Stock-based compensation— 1,289 3,218 1,026 
Diluted weighted-average number of common shares outstanding - non-GAAP88,500 84,328 5 %87,930 83,849 5 %
* not meaningful
Our non-GAAP financial measures reflect the following adjustments:
•Stock-based compensation: We have excluded stock-based compensation from our non-GAAP operating expenses and profitability measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to our revenues recognized during the periods presented and is expected to contribute to our future revenues, we continue to evaluate our business performance, excluding stock-based compensation.
•Restructuring: We have excluded restructuring from our non-GAAP financial measures. Restructuring fluctuates in amount and frequency and is significantly affected by the timing and size of our restructuring activities. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as these amounts are not representative of our core business operations and ongoing operational performance.
•Legal fees: Legal and related fees arising from proceedings outside the ordinary course of business. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.
•Litigation settlement, net of recoveries: Cost to settle litigation, net of insurance recoveries, arising from proceedings outside the ordinary course of business. See Note 15. Commitments and Contingencies in our Quarterly Report for the three months ended June 30, 2024 for additional information. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.
•Amortization of intangible assets: We have excluded the amortization of intangible assets from our non-GAAP operating expenses and profitability measures. Amortization of intangible assets fluctuates in amount and frequency and is significantly affected by the timing and size of acquisitions. Investors should note that intangible assets contributed to our revenues recognized during the periods presented and are expected to contribute to future revenues. Amortization of intangible assets is likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods.
8

•Interest on convertible senior notes: In February 2020, we issued convertible senior notes, due March 1, 2025, in a private placement. We believe that excluding the amortization of issuance costs provides a useful comparison of our operational performance in different periods.
•Capped call transactions: We have excluded gains and losses related to our capped call transactions held at fair value under U.S. GAAP. The capped call transactions are expected to reduce common stock dilution and/or offset any potential cash payments we must make, other than for principal and interest, upon conversion of the convertible senior notes. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.
•Repurchases of convertible senior notes: We have excluded gains from the repurchases of Convertible Senior Notes. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.
•Foreign currency transaction (gain) loss: We have excluded foreign currency transaction gains and losses from our non-GAAP profitability measures. Foreign currency transaction gains and losses fluctuate in amount and frequency and are significantly affected by foreign exchange market rates. Foreign currency transaction gains and losses are likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods.
•Other: We have excluded gains and losses from our venture investments, and incremental expenses incurred integrating acquisitions. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.
•Diluted weighted-average number of common shares outstanding:
•Stock-based compensation: In periods of non-GAAP income, we have included the dilutive impact of stock-based compensation in our non-GAAP weighted-average shares. In periods of GAAP loss, these shares would have been excluded from our GAAP results as they would be anti-dilutive for GAAP. We believe including the dilutive effect of stock-based compensation in our non-GAAP financial measures in periods of income is helpful to investors as this provides a useful comparison of our operational performance in different periods.
(1) Stock-based compensation:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Cost of revenue$7,092 $7,174 $13,664 $16,087 
Selling and marketing13,564 15,349 27,452 33,009 
Research and development7,825 7,851 15,471 16,911 
General and administrative7,743 5,853 14,418 12,777 
$36,224 $36,227 $71,005 $78,784 
Income tax benefit$(554)$(581)$(865)$(1,253)
(2) Effective income tax rates:
Six Months Ended
June 30,
20242023
GAAP*(21)%
non-GAAP22 %22 %
* not meaningful.
Our GAAP effective income tax rate is subject to significant fluctuations due to several factors, including our stock-based compensation plans, research and development tax credits, gains and losses on our capped call transactions, and the valuation allowance on our deferred tax assets in the U.S. and U.K. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors, including historical and forecasted earnings by jurisdiction, discrete items, and ability to realize tax assets. We believe it is beneficial for our management to review our non-GAAP results consistent with our annual plan's effective income tax rate as established at the beginning of each year, given tax rate volatility. See Note 13. Income Taxes in our Quarterly Report for the three months ended June 30, 2024 for additional information.
9

PEGASYSTEMS INC.
RECONCILIATION OF FREE CASH FLOW (1) AND OTHER METRICS
(in thousands, except percentages)

Six Months Ended
June 30,
Change
20242023
Cash provided by operating activities$220,243 $113,752 94 %
Investment in property and equipment(1,857)(13,933)
Free cash flow (1)
$218,386 $99,819 119 %
Supplemental information (2)
Litigation settlement, net of recoveries$32,403 $— 
Legal fees
2,701 2,950 
Restructuring3,852 17,521 
Interest on convertible senior notes1,884 2,250 
Income taxes
25,560 6,627 
$66,400 $29,348 
(1) Our non-GAAP free cash flow is defined as cash provided by operating activities less investment in property and equipment. Investment in property and equipment fluctuates in amount and frequency and is significantly affected by the timing and size of investments in our facilities. We provide information on free cash flow to enable investors to assess our ability to generate cash without incurring additional external financings. This information is not a substitute for financial measures prepared under U.S. GAAP.
(2) The supplemental information discloses items that affect our cash flows and are considered by management not to be representative of our core business operations and ongoing operational performance.
•Litigation settlement, net of recoveries: Cost to settle litigation, net of insurance recoveries, arising from proceedings outside the ordinary course of business. See Note 15. Commitments and Contingencies in our Quarterly Report for the three months ended June 30, 2024 for additional information.
•Legal fees: Legal and related fees arising from proceedings outside the ordinary course of business.
•Restructuring: Restructuring fluctuates in amount and frequency and is significantly affected by the timing and size of our restructuring activities.
•Interest on convertible senior notes: In February 2020, we issued convertible senior notes, due March 1, 2025, in a private placement. The convertible senior notes accrue interest at an annual rate of 0.75%, payable semi-annually in arrears on March 1 and September 1.
•Income taxes: Direct income taxes paid net of refunds received.
PEGASYSTEMS INC.
ANNUAL CONTRACT VALUE
(in thousands, except percentages)

Annual contract value (“ACV”) - ACV represents the annualized value of our active contracts as of the measurement date. The contract's total value is divided by its duration in years to calculate ACV. ACV is a performance measure that we believe provides useful information to our management and investors.
June 30, 2024June 30, 2023Change
Pega Cloud$593,752 $498,860 $94,892 19 %
Maintenance
310,608 315,231 (4,623)(1)%
Subscription services
904,360 814,091 90,269 11 %
Subscription license
400,949 349,713 51,236 15 %
$1,305,309 $1,163,804 $141,505 12 %
10

PEGASYSTEMS INC.
BACKLOG
(in thousands, except percentages)

Remaining performance obligations (“Backlog”) - Expected future revenue from existing non-cancellable contracts:
As of June 30, 2024:
Subscription servicesSubscription licensePerpetual licenseConsultingTotal
Pega CloudMaintenance
1 year or less
$470,379 $209,655 $23,931 $2,696 $25,953 $732,614 52 %
1-2 years
301,070 63,266 10,078 — 2,469 376,883 27 %
2-3 years
152,839 30,032 2,884 — 2,473 188,228 13 %
Greater than 3 years
90,474 17,953 97 — — 108,524 8 %
$1,014,762 $320,906 $36,990 $2,696 $30,895 $1,406,249 100 %
% of Total72 %23 %3 %— %2 %100 %
Change since June 30, 2023
$152,778 $15,081 $(8,416)$(4,535)$(14,755)$140,153 
18 %5 %(19)%(63)%(32)%11 %
As of June 30, 2023:
Subscription servicesSubscription licensePerpetual licenseConsultingTotal
Pega CloudMaintenance
1 year or less
$397,183 $214,579 $35,616 $4,979 $37,355 $689,712 55 %
1-2 years
238,691 58,551 3,026 2,252 6,772 309,292 24 %
2-3 years
124,616 25,103 6,764 — 1,523 158,006 12 %
Greater than 3 years
101,494 7,592 — — — 109,086 9 %
$861,984 $305,825 $45,406 $7,231 $45,650 $1,266,096 100 %
% of Total67 %24 %4 %1 %4 %100 %

PEGASYSTEMS INC.
RECONCILIATION OF GAAP BACKLOG AND CONSTANT CURRENCY BACKLOG
(in millions, except percentages)
June 30, 2023June 30, 20241 Year Growth Rate
Backlog - GAAP$1,266 $1,406 11 %
Impact of changes in foreign exchange rates— 7 
Constant currency backlog
$1,266 $1,413 12 %
Note: Constant currency Backlog is calculated by applying the June 30, 2023 foreign exchange rates to all periods shown.
11
v3.24.2
COVER PAGE
Jul. 24, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jul. 24, 2024
Entity Registrant Name PEGASYSTEMS INC.
Entity Incorporation, State or Country Code MA
Entity File Number 1-11859
Entity Tax Identification Number 04-2787865
Entity Address, Address Line One One Main Street
Entity Address, City or Town Cambridge
Entity Address, State or Province MA
Entity Address, Postal Zip Code 02142
City Area Code 617
Local Phone Number 374-9600
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $.01 par value per share
Trading Symbol PEGA
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001013857
Pegasystems (NASDAQ:PEGA)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024 Haga Click aquí para más Gráficas Pegasystems.
Pegasystems (NASDAQ:PEGA)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024 Haga Click aquí para más Gráficas Pegasystems.