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AI brief of an SEC Form 8-K · Pegasystems (PEGA)

Pegasystems Q2 revenue rises 18% to $351 million; GAAP net income $6.6 million

Positive Impact 3 of 5 earnings Written later

Pegasystems reported second-quarter 2024 revenue of $351.2 million, up 18% from $298.3 million a year earlier, and GAAP net income of $6.6 million ($0.07 per diluted share) compared with a net loss of $46.8 million a year earlier. Annual contract value rose 12% to $1.31 billion, and the company reported $218.4 million of free cash flow for the first half of 2024. The filing gives no revenue or earnings guidance for future periods.

Key points

  • Q2 2024 total revenue was $351.2 million, up 18% from $298.3 million; Pega Cloud revenue rose 38% to $134.1 million.
  • GAAP net income was $6.6 million, or $0.07 per diluted share, versus a net loss of $46.8 million, or $0.56 per share, in Q2 2023.
  • Non-GAAP net income was $45.8 million, or $0.52 per diluted share, versus $1.2 million, or $0.01, a year earlier.
  • For the six months ended June 30, 2024, revenue was $681.3 million, up 9%, and the GAAP net loss was $5.5 million, including a $32.4 million litigation settlement, net of recoveries.

The filing

CompanyPegasystems (PEGA)
Form8-K, current report
Filed with the SECJul 24, 2024, 4:12 PM ET
Accession number0001013857-24-000156

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.