Pegasystems Files Q2 2024 10-Q
Ticker: PEGA · Form: 10-Q · Filed: Jul 24, 2024 · CIK: 1013857
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Pega's Q2 10-Q is in: check financials for latest performance.
AI Summary
Pegasystems Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities and strategic positioning in the software industry.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for Pegasystems, crucial for understanding the company's performance and future outlook.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health or operational risks.
Key Numbers
- 2024 Q2 — Quarterly Period (Reporting period for the 10-Q filing.)
- 2024-01-01 to 2024-06-30 — Year-to-Date Period (Consolidated financial data for the first half of 2024.)
- 2023-01-01 to 2023-06-30 — Prior Year-to-Date Period (Consolidated financial data for the first half of 2023 for comparison.)
Key Players & Entities
- PEGASYSTEMS INC (company) — Filer
- 0001013857-24-000155 (filing_id) — Accession Number
- 20240630 (date) — Conformed Period of Report
- 20240724 (date) — Filed as of Date
- ONE MAIN STREET (address) — Business Address
- CAMBRIDGE (city) — Business Address City
- MA (state) — Business Address State
- 02142-1531 (zip_code) — Business Address Zip
- 6173749600 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20240724, as indicated by the 'FILED AS OF DATE'.
What is Pegasystems Inc.'s primary business address?
Pegasystems Inc.'s business address is One Main Street, Cambridge, MA 02142-1531.
What are the key financial segments reported for the second quarter of 2024?
The filing references segments such as Subscription Services, Subscription License, and Consulting for the period of 2024-04-01 to 2024-06-30.
What is the fiscal year end for Pegasystems Inc.?
The fiscal year end for Pegasystems Inc. is December 31 (1231).
Filing Stats: 4,744 words · 19 min read · ~16 pages · Grade level 16.3 · Accepted 2024-07-24 16:11:14
Key Financial Figures
- $0.01 — hares of the Registrant's common stock, $0.01 par value per share, outstanding on Jul
- $1,000 — te is 7.4045 shares of common stock per $1,000 principal amount of the Notes, represen
Filing Documents
- pega-20240630.htm (10-Q) — 1532KB
- q22024_ex-311.htm (EX-31.1) — 10KB
- q22024_ex-312.htm (EX-31.2) — 10KB
- q22024_ex-32.htm (EX-32) — 6KB
- pega-20240630_g1.jpg (GRAPHIC) — 78KB
- pega-20240630_g2.jpg (GRAPHIC) — 53KB
- pega-20240630_g3.jpg (GRAPHIC) — 50KB
- pega-20240630_g4.jpg (GRAPHIC) — 99KB
- 0001013857-24-000155.txt ( ) — 9140KB
- pega-20240630.xsd (EX-101.SCH) — 61KB
- pega-20240630_cal.xml (EX-101.CAL) — 113KB
- pega-20240630_def.xml (EX-101.DEF) — 218KB
- pega-20240630_lab.xml (EX-101.LAB) — 683KB
- pega-20240630_pre.xml (EX-101.PRE) — 470KB
- pega-20240630_htm.xml (XML) — 1437KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the six months ended June 30, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk 29
Item 3. Quantitative and Qualitative Disclosures About Market Risk 29
Controls and Procedures 29
Item 4. Controls and Procedures 29
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings 30
Item 1. Legal Proceedings 30
Risk Factors 30
Item 1A. Risk Factors 30
Unregistered Sales of Equity Securities and Use of Proceeds 30
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30
Other Information 30
Item 5. Other Information 30
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) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 258,257 $ 229,902 Marketable securities 406,819 193,436 Total cash, cash equivalents, and marketable securities 665,076 423,338 Accounts receivable, net 165,723 300,173 Unbilled receivables, net 164,533 237,379 Other current assets 76,323 68,137 Total current assets 1,071,655 1,029,027 Long-term unbilled receivables, net 81,218 85,402 Goodwill 81,410 81,611 Other long-term assets 302,249 314,696 Total assets $ 1,536,532 $ 1,510,736 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 16,682 $ 11,290 Accrued expenses 44,875 39,941 Accrued compensation and related expenses 81,110 126,640 Deferred revenue 352,618 377,845 Convertible senior notes, net 500,604 — Other current liabilities 20,677 21,343 Total current liabilities 1,016,566 577,059 Long-term convertible senior notes, net — 499,368 Long-term operating lease liabilities 70,202 66,901 Other long-term liabilities 14,362 13,570 Total liabilities 1,101,130 1,156,898 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, 1,000 shares authorized; none issued — — Common stock, 200,000 shares authorized; 85,369 and 83,840 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 854 838 Additional paid-in capital 473,030 379,584 (Accumulated deficit) ( 14,216 ) ( 8,705 ) Accumulated other comprehensive (loss) ( 24,266 ) ( 17,879 ) Total stockholders' equity 435,402 353,838 Total liabilities and stockholders' equity $ 1,536,532 $ 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Reven