PegaSystems Inc. Files Q1 2024 10-Q Report
Ticker: PEGA · Form: 10-Q · Filed: Apr 24, 2024 · CIK: 1013857
Sentiment: neutral
Topics: 10-Q, PegaSystems, Quarterly Report, Financials, Subscription Services
TL;DR
<b>PegaSystems Inc. has submitted its Q1 2024 10-Q filing, providing a snapshot of its financial position and performance.</b>
AI Summary
PEGASYSTEMS INC (PEGA) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. PegaSystems Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (2022-12-31, 2023-03-31, 2023-12-31) are referenced. Information regarding subscription services, license, and consulting revenue segments is included. Details on common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are provided for various periods.
Why It Matters
For investors and stakeholders tracking PEGASYSTEMS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of PegaSystems Inc., crucial for evaluating investment decisions. The detailed breakdown of revenue segments and equity components allows for a deeper understanding of the company's operational and financial health.
Risk Assessment
Risk Level: low — PEGASYSTEMS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.
Analyst Insight
Monitor future filings for revenue growth trends in subscription services and consulting, and track changes in equity components.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| SubscriptionServicesMember | ||
| SubscriptionLicenseMember | ||
| ConsultingMember | ||
| PerpetualLicenseMember |
Key Numbers
- 2024-03-31 — Reporting Period End Date (10-Q filing)
- 2024-04-24 — Filing Date (10-Q filing)
- 7374 — Standard Industrial Classification (Services-Computer Processing & Data Preparation)
Key Players & Entities
- PEGASYSTEMS INC (company) — Filer name
- PEGA (company) — Ticker symbol
- 2024-03-31 (date) — Conformed period of report
- 2024-04-24 (date) — Filed as of date
- MA (location) — State of incorporation and business address
- 6173749600 (phone) — Business phone number
FAQ
When did PEGASYSTEMS INC file this 10-Q?
PEGASYSTEMS INC filed this Quarterly Report (10-Q) with the SEC on April 24, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by PEGASYSTEMS INC (PEGA).
Where can I read the original 10-Q filing from PEGASYSTEMS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PEGASYSTEMS INC.
What are the key takeaways from PEGASYSTEMS INC's 10-Q?
PEGASYSTEMS INC filed this 10-Q on April 24, 2024. Key takeaways: PegaSystems Inc. filed its 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial data from previous periods (2022-12-31, 2023-03-31, 2023-12-31) are referenced..
Is PEGASYSTEMS INC a risky investment based on this filing?
Based on this 10-Q, PEGASYSTEMS INC presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.
What should investors do after reading PEGASYSTEMS INC's 10-Q?
Monitor future filings for revenue growth trends in subscription services and consulting, and track changes in equity components. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
- 2024-04-24: Filing Date — Date the 10-Q was officially filed with the SEC.
Filing Stats: 4,634 words · 19 min read · ~15 pages · Grade level 16.3 · Accepted 2024-04-24 16:32:54
Key Financial Figures
- $0.01 — hares of the Registrant's common stock, $0.01 par value per share, outstanding on Apr
- $1,000 — te is 7.4045 shares of common stock per $1,000 principal amount of the Notes, represen
Filing Documents
- pega-20240331.htm (10-Q) — 1255KB
- q12024_ex101.htm (EX-10.1) — 80KB
- q12024_ex-311.htm (EX-31.1) — 10KB
- q12024_ex-312.htm (EX-31.2) — 10KB
- q12024_ex-32.htm (EX-32) — 6KB
- pega-20240331_g1.jpg (GRAPHIC) — 77KB
- pega-20240331_g2.jpg (GRAPHIC) — 41KB
- pega-20240331_g3.jpg (GRAPHIC) — 38KB
- pega-20240331_g4.jpg (GRAPHIC) — 99KB
- 0001013857-24-000085.txt ( ) — 8330KB
- pega-20240331.xsd (EX-101.SCH) — 60KB
- pega-20240331_cal.xml (EX-101.CAL) — 112KB
- pega-20240331_def.xml (EX-101.DEF) — 214KB
- pega-20240331_lab.xml (EX-101.LAB) — 662KB
- pega-20240331_pre.xml (EX-101.PRE) — 463KB
- pega-20240331_htm.xml (XML) — 1231KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive (Loss) for the three months ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures About Market Risk 27
Item 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures 28
Item 4. Controls and Procedures 28
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings 29
Item 1. Legal Proceedings 29
Risk Factors 29
Item 1A. Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds 29
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
Other Information 29
Item 5. Other Information 29
Exhibits 30
Item 6. Exhibits 30 Signature 31 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS PEGASYSTEMS INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 291,905 $ 229,902 Marketable securities 327,044 193,436 Total cash, cash equivalents, and marketable securities 618,949 423,338 Accounts receivable, net 191,987 300,173 Unbilled receivables, net 170,458 237,379 Other current assets 78,193 68,137 Total current assets 1,059,587 1,029,027 Long-term unbilled receivables, net 72,814 85,402 Goodwill 81,467 81,611 Other long-term assets 297,860 314,696 Total assets $ 1,511,728 $ 1,510,736 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 6,353 $ 11,290 Accrued expenses 80,642 39,941 Accrued compensation and related expenses 55,438 126,640 Deferred revenue 382,765 377,845 Convertible senior notes, net 499,985 — Other current liabilities 19,096 21,343 Total current liabilities 1,044,279 577,059 Long-term convertible senior notes, net — 499,368 Long-term operating lease liabilities 63,645 66,901 Other long-term liabilities 13,618 13,570 Total liabilities 1,121,542 1,156,898 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, 1,000 shares authorized; none issued — — Common stock, 200,000 shares authorized; 85,011 and 83,840 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 850 838 Additional paid-in capital 432,217 379,584 (Accumulated deficit) ( 20,829 ) ( 8,705 ) Accumulated other comprehensive (loss) ( 22,052 ) ( 17,879 ) Total stockholders' equity 390,186 353,838 Total liabilities and stockholders' equity $ 1,511,728 $ 1,510,736 See notes to unaudited condensed consolidated financial statements. 3 PEGASYSTEMS INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 Revenue Subscription services $ 211,90