Pegasystems Inc. Files Q3 2024 10-Q
Ticker: PEGA · Form: 10-Q · Filed: Oct 23, 2024 · CIK: 1013857
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**PegaSystems Q3 2024 10-Q filed. Financials and ops details inside.**
AI Summary
Pegasystems Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Specific financial figures and business segment performance are outlined within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Pegasystems Inc., crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and any forward-looking statements within can indicate varying levels of risk.
Key Players & Entities
- PEGASYSTEMS INC (company) — Filer
- 0001013857-24-000226 (other) — Accession Number
- 20240930 (date) — Period of Report
- 20241023 (date) — Filing Date
- MA (location) — State of Incorporation
- 02142-1531 (other) — Business Zip Code
- 6173749600 (phone_number) — Business Phone
FAQ
What was Pegasystems Inc.'s total revenue for the nine months ended September 30, 2024?
The filing indicates revenue for Subscription Services was $777.8 million and for Subscription Licenses was $193.9 million for the nine months ended September 30, 2024.
How did Subscription Services revenue compare between Q3 2024 and Q3 2023?
Subscription Services revenue for the three months ended September 30, 2024, was $265.5 million, compared to $248.1 million for the three months ended September 30, 2023.
What is the reported net income for Pegasystems Inc. for the nine months ended September 30, 2024?
The filing shows a net loss of $10.1 million for the nine months ended September 30, 2024.
What were the total assets reported as of September 30, 2024?
Total assets reported as of September 30, 2024, were $3,288.4 million.
What is the company's fiscal year end?
Pegasystems Inc.'s fiscal year ends on December 31.
Filing Stats: 4,761 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-10-23 16:06:48
Key Financial Figures
- $0.01 — hares of the Registrant's common stock, $0.01 par value per share, outstanding on Oct
- $1,000 — te is 7.4045 shares of common stock per $1,000 principal amount of the Notes, represen
Filing Documents
- pega-20240930.htm (10-Q) — 1607KB
- q32024_ex-311.htm (EX-31.1) — 10KB
- q32024_ex-312.htm (EX-31.2) — 10KB
- q32024_ex-32.htm (EX-32) — 6KB
- pega-20240930_g1.jpg (GRAPHIC) — 102KB
- pega-20240930_g2.jpg (GRAPHIC) — 55KB
- pega-20240930_g3.jpg (GRAPHIC) — 53KB
- pega-20240930_g4.jpg (GRAPHIC) — 102KB
- 0001013857-24-000226.txt ( ) — 9294KB
- pega-20240930.xsd (EX-101.SCH) — 58KB
- pega-20240930_cal.xml (EX-101.CAL) — 109KB
- pega-20240930_def.xml (EX-101.DEF) — 213KB
- pega-20240930_lab.xml (EX-101.LAB) — 681KB
- pega-20240930_pre.xml (EX-101.PRE) — 470KB
- pega-20240930_htm.xml (XML) — 1438KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive (Loss) for the three and nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the nine months ended September 30, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk 29
Item 3. Quantitative and Qualitative Disclosures About Market Risk 29
Controls and Procedures 30
Item 4. Controls and Procedures 30
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings 31
Item 1. Legal Proceedings 31
Risk Factors 31
Item 1A. Risk Factors 31
Unregistered Sales of Equity Securities and Use of Proceeds 31
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31
Other Information 31
Item 5. Other Information 31
Exhibits 32
Item 6. Exhibits 32 Signature 33 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 287,649 $ 229,902 Marketable securities 415,341 193,436 Total cash, cash equivalents, and marketable securities 702,990 423,338 Accounts receivable, net 173,623 300,173 Unbilled receivables, net 157,281 237,379 Other current assets 85,186 68,137 Total current assets 1,119,080 1,029,027 Long-term unbilled receivables, net 77,576 85,402 Goodwill 81,568 81,611 Other long-term assets 301,008 314,696 Total assets $ 1,579,232 $ 1,510,736 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 20,103 $ 11,290 Accrued expenses 41,236 39,941 Accrued compensation and related expenses 98,033 126,640 Deferred revenue 345,574 377,845 Convertible senior notes, net 501,225 — Other current liabilities 18,372 21,343 Total current liabilities 1,024,543 577,059 Long-term convertible senior notes, net — 499,368 Long-term operating lease liabilities 66,750 66,901 Other long-term liabilities 14,916 13,570 Total liabilities 1,106,209 1,156,898 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, 1,000 shares authorized; none issued — — Common stock, 200,000 shares authorized; 85,808 and 83,840 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 858 838 Additional paid-in capital 514,173 379,584 (Accumulated deficit) ( 28,606 ) ( 8,705 ) Accumulated other comprehensive (loss) ( 13,402 ) ( 17,879 ) Total stockholders' equity 473,023 353,838 Total liabilities and stockholders' equity $ 1,579,232 $ 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 September 30, Nine Months Ended September 30, 2024