NASDAQ$PEGA
Pegasystems Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Pegasystems' Q2 2023 financial results were released, demonstrating solid execution and a focus on balancing growth with free cash flow.
Pegasystems reported a 9% increase in total revenue, reaching $298.27 million. The company saw improvements in net loss, with GAAP net loss decreasing by 84% to $46.80 million and non-GAAP net income of $1.20 million. ACV grew 13% year over year, and the company achieved record cash flow in the first half of 2023.
- Operating cash flow exceeded $110 million, and free cash flow exceeded $120 million in the first half of 2023.
- Annual contract value (ACV) grew 13% year over year.
- Pega Cloud gross margin expanded to 73%.
- The company is focusing on client success and go-to-market alignment to improve operating effectiveness.
Headline financials
Revenue & EPS history
Pegasystems · Revenue · Quarterly
$298M
Revenue by segment
Pegasystems · $297M total across 4 segments · Q2 2023
- Pega Cloud$115M+23.1%38.8%
- Maintenance$82M+4.7%27.7%
- Consulting$58.4M-0.4%19.7%
- Subscription license$41.2M-1.0%13.9%
Forward guidance
Pegasystems will be looking to further increase operating effectiveness with additional improvements in their go-to-market alignment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+3.5%
Avg return
Earnings day
+3.3%
Avg return
5 days after
+2.8%
Avg return
30 days after
59%
39 / 66 earnings
Positive
+42.2%
Q4 2023
Best reaction
-28.0%
Q3 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | -6.4% | -12.6% | |
| Q4 2025 | -11.9% | +1.9% | -1.3% | |
| Q3 2025 | +15.0% | +16.8% | -4.6% | |
| Q2 2025 | +1.4% | -0.2% | +11.8% | |
| Q1 2025 | +28.8% | +32.5% | +39.7% | |
| Q4 2024 | -19.6% | -18.9% | -32.1% | |
| Q3 2024 | +13.4% | +13.9% | +29.8% | |
| Q2 2024 | +9.7% | +4.9% | +11.7% | |
| Q1 2024 | -0.4% | +2.6% | +1.1% | |
| Q4 2023 | +42.2% | +34.1% | +28.3% | |
| Q3 2023 | +4.7% | +7.3% | +34.0% | |
| Q2 2023 | -9.7% | -3.3% | -12.0% | |
| Q1 2023 | +3.7% | +6.2% | +7.9% | |
| Q4 2022 | +27.3% | +21.7% | +18.3% | |
| Q3 2022 | +9.5% | +11.7% | +12.3% | |
| Q2 2022 | -13.2% | -12.8% | -21.8% | |
| Q1 2022 | +11.5% | +6.1% | -26.5% | |
| Q4 2021 | -18.5% | -18.4% | -21.2% | |
| Q3 2021 | -7.5% | -6.4% | -10.2% | |
| Q2 2021 | -5.0% | -5.2% | +3.0% | |
| Q1 2021 | -1.8% | -4.1% | -8.6% | |
| Q4 2020 | -2.0% | +0.4% | -20.2% | |
| Q3 2020 | -4.2% | -8.5% | +6.7% | |
| Q2 2020 | +9.7% | +11.9% | +22.5% | |
| Q1 2020 | +7.7% | +4.9% | +22.5% | |
| Q4 2019 | +9.7% | +11.1% | -15.8% | |
| Q3 2019 | -4.9% | -3.5% | +1.8% | |
| Q2 2019 | +4.9% | +2.0% | +3.3% | |
| Q1 2019 | -6.0% | -5.8% | -5.3% | |
| Q4 2018 | +9.5% | +11.4% | +9.3% | |
| Q3 2018 | +4.4% | -3.9% | -6.2% | |
| Q2 2018 | +1.5% | +2.3% | +9.2% | |
| Q1 2018 | +2.2% | -3.1% | -1.9% | |
| Q4 2017 | +11.6% | +6.7% | +9.7% | |
| Q3 2017 | -7.7% | -7.3% | -11.7% | |
| Q2 2017 | -10.2% | -3.0% | -3.9% | |
| Q1 2017 | +13.9% | +24.1% | +32.9% | |
| Q4 2016 | +4.7% | +4.1% | +1.3% | |
| Q3 2016 | +10.1% | +8.8% | +15.2% | |
| Q2 2016 | -4.7% | -5.1% | -3.6% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | +8.4% | — | — | |
| Q3 2015 | +7.9% | — | — | |
| Q2 2015 | +13.4% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | -14.0% | — | — | |
| Q3 2014 | -11.0% | — | — | |
| Q2 2014 | +9.7% | — | — | |
| Q1 2014 | +10.9% | — | — | |
| Q4 2013 | -11.7% | — | — | |
| Q3 2013 | +26.6% | — | — | |
| Q2 2013 | +4.8% | — | — | |
| Q1 2013 | +5.3% | — | — | |
| Q4 2012 | +7.9% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2011 | -12.1% | — | — | |
| Q1 2012 | -3.3% | — | — | |
| Q4 2011 | +29.7% | — | — | |
| Q4 2009 | +29.7% | — | — | |
| Q3 2011 | -28.0% | — | — | |
| Q3 2010 | -28.0% | — | — | |
| Q4 2010 | +22.2% | — | — | |
| Q2 2010 | +22.2% | — | — | |
| Q2 2011 | +22.2% | — | — | |
| Q1 2010 | -10.8% | — | — |
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