PEGASYSTEMS INC PEGA
We develop, market, license, host, and support enterprise software that helps organizations optimize decisions and processes in real-time so they can deliver outcomes that transform their business. Our powerful platform for enterprise artificial intelligence ("AI") decisioning and workflow automation enables the world's leading brands and government agencies to hyper-personalize customer experiences, automate customer service, and streamline operations, mission-critical business processes, and workflows, and transform legacy systems. Clients can leverage our AI technology and scalable architecture to accelerate their digital transformation. In addition, our sales and client success teams, world-class partners, and clients can leverage Pega BlueprintTM ("Blueprint") to rapidly prototype and accelerate the development and deployment of applications quickly and collaboratively.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.75B | $1.50B | $1.43B | $1.32B | $1.21B | $1.02B | $911.4M | $891.6M | $888.5M | $762.2M |
| Cost of revenue | $421.4M | $390.7M | $378.5M | $368.6M | $336.4M | $310.9M | $310.0M | $301.8M | $279.7M | $239.3M |
| Gross profit | $1.32B | $1.11B | $1.05B | $949.2M | $875.3M | $706.6M | $601.4M | $589.8M | $608.8M | $523.0M |
| R&D | $312.7M | $298.1M | $295.5M | $294.3M | $260.6M | $237.0M | $205.2M | $181.7M | $162.9M | $145.5M |
| SG&A | $148.7M | $112.8M | $96.7M | $117.7M | $83.5M | $67.5M | $56.6M | $51.6M | $52.2M | $46.0M |
| Total operating expenses | $1.06B | $982.6M | $973.2M | $1.06B | $970.0M | $850.1M | $736.2M | $606.8M | $515.6M | $472.3M |
| Operating income | $263.1M | $123.9M | $81.0M | -$109.4M | -$94.7M | -$143.5M | -$134.9M | -$17.0M | $93.2M | $50.6M |
| Interest expense | $1.3M | $6.8M | $6.9M | $7.8M | $8.0M | $19.4M | $212.0K | $10.0K | — | — |
| Pre-tax income | $280.6M | $142.6M | $95.4M | -$161.8M | -$132.0M | -$124.9M | -$134.8M | -$11.5M | $86.2M | $55.3M |
| Income tax | $112.8M | $43.4M | $27.6M | $183.8M | $68.9M | $63.5M | $44.4M | $22.2M | $12.3M | $10.3M |
| Net income | $393.4M | $99.2M | $67.8M | -$345.6M | -$63.0M | -$61.4M | -$90.4M | $10.6M | $98.5M | $45.0M |
| EPS, basic | 2.30 | 0.58 | 0.41 | -4.22 | -0.77 | -0.76 | -1.14 | 0.14 | 1.27 | 0.59 |
| EPS, diluted | 2.13 | 0.55 | 0.37 | -4.22 | -0.77 | -0.76 | -1.14 | 0.13 | 1.19 | 0.56 |
| Shares, diluted (wtd. avg.) | $184.8M | $179.3M | $169.8M | $81.9M | $81.4M | $80.3M | $79.1M | $83.1M | $82.8M | $79.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $212.4M | $337.1M | $229.9M | $145.1M | $160.0M | $171.9M | $68.4M | $114.4M | $162.3M | $70.6M |
| Short-term investments | $213.4M | $402.9M | $193.4M | $152.2M | $202.8M | $293.3M | $0 | $93.0M | $61.5M | — |
| Receivables | $264.7M | $305.5M | $300.2M | $255.2M | $182.7M | $215.8M | $199.7M | $180.9M | $222.7M | $265.0M |
| Total current assets | $978.3M | $1.33B | $1.03B | $846.5M | $840.2M | $976.9M | $505.6M | $610.6M | $647.7M | $425.1M |
| Property, plant and equipment | $45.2M | $41.8M | $47.3M | $55.1M | $26.8M | $40.4M | $34.3M | $36.6M | $40.4M | $38.3M |
| Goodwill | $81.5M | $81.1M | $81.6M | $81.4M | $81.9M | $79.2M | $79.0M | $72.9M | $73.0M | $73.2M |
| Other intangibles | $1.2M | $3.8M | $7.0M | $10.9M | $14.1M | $15.7M | $19.7M | $21.2M | $31.9M | $44.2M |
| Total assets | $1.63B | $1.77B | $1.51B | $1.36B | $1.59B | $1.60B | $984.8M | $982.6M | $1.01B | $654.7M |
| Accounts payable | $12.9M | $6.2M | $11.3M | $18.2M | $15.3M | $24.0M | $17.5M | $16.5M | $17.4M | $14.4M |
| Total current liabilities | $737.8M | $1.09B | $577.1M | $538.9M | $485.4M | $460.1M | $378.0M | $331.8M | $294.8M | $287.5M |
| Total liabilities | $844.5M | $1.18B | $1.16B | $1.23B | $1.18B | $1.06B | $445.8M | $361.0M | $356.9M | $318.8M |
| Retained earnings | $463.4M | $87.9M | -$8.7M | -$76.5M | $276.4M | $339.9M | $410.9M | $510.9M | $509.7M | $198.3M |
| Total equity | $787.4M | $585.5M | $353.8M | $130.8M | $416.1M | $542.2M | $539.0M | $621.5M | $655.9M | $548.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $505.2M | $345.9M | $217.8M | $22.3M | $39.1M | -$563.0K | -$42.2M | $104.4M | $158.2M | $39.9M |
| Depreciation and amortisation | $13.7M | $17.6M | $18.7M | $18.8M | $28.6M | $21.3M | $21.4M | $25.3M | $24.7M | $24.1M |
| Stock-based compensation | $155.2M | $142.7M | $143.4M | $122.2M | $115.9M | $103.1M | $80.9M | $63.9M | $53.3M | $40.8M |
| Capital expenditure | $14.5M | $7.7M | $16.8M | $35.4M | $10.5M | $25.4M | $10.6M | $11.9M | $13.7M | $19.1M |
| Investing cash flow | $197.2M | -$202.6M | -$50.8M | $13.1M | $72.5M | -$321.7M | $70.1M | -$48.2M | -$14.8M | -$7.2M |
| Financing cash flow | -$834.6M | -$30.2M | -$82.0M | -$47.0M | -$121.8M | $423.4M | -$74.3M | -$101.5M | -$54.2M | -$51.7M |
| Dividends paid | $15.4M | $10.2M | $10.0M | $9.8M | $9.8M | $9.6M | $9.5M | $9.4M | $9.3M | $9.2M |
| Buybacks | $499.7M | $68.1M | $0 | $25.7M | $52.7M | $28.0M | $22.1M | $54.4M | $4.3M | $27.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001013857-26-000031.
Others in SIC 7374
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ADP | AUTOMATIC DATA PROCESSING INC | $110.29B | 25.4x | 6.7% |
| WDAY | Workday, Inc. | $48.00B | 75.6x | 13.1% |
| RDDT | Reddit, Inc. | $29.71B | 59.0x | 69.4% |
| VRSK | Verisk Analytics, Inc. | $24.34B | 28.7x | 6.6% |
| TOST | Toast, Inc. | $19.62B | 60.6x | 24.1% |
| APLD | Applied Digital Corp. | $7.69B | — | 167.5% |
| HNGE | Hinge Health, Inc. | $7.29B | — | 50.6% |
| RNG | RingCentral, Inc. | $6.17B | 152.9x | 4.8% |