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Devin O

Research Analyst at Keybanc Capital Markets,inc /oh/

Devin Au is an AVP and Associate Analyst at KeyBanc Capital Markets, specializing in financial services research and analysis. He has covered a range of companies within the sector, leveraging strong analytical expertise to contribute to industry insights, though specific coverage companies and published performance metrics are not publicly detailed. Devin began his finance career in 2018 at Chartwell Financial Advisory before joining KeyBanc in 2019, progressing from Senior Associate to his current role in 2022, and previously honed investment skills as a Senior Analyst with the University of Oregon Investment Group. He holds a Bachelor’s Degree from the University of Oregon and maintains FINRA registration as a licensed broker.

Devin O's questions to PEGASYSTEMS (PEGA) leadership

Question · Q3 2025

Devin O asked for further details on the partner-branded Blueprint solutions, specifically whether they have unlocked new use cases and their impact on sales pipeline and velocity since their launch. He also inquired about the contribution of license migrations to cloud ACV growth.

Answer

Alan Trefler, Founder and CEO of Pegasystems, explained that "Powered by Blueprint" allows partners to embed their best practices and brand the solution, enabling them to leverage their IP with Pega's AI. This strategy is expected to significantly expand Pega's reach by empowering partner staff and sellers to engage prospects with their own offerings. Ken Stillwell, COO and CFO, clarified that while migrations are crucial for moving clients to Pega Cloud, they are not the primary driver of total ACV acceleration, which stems from client expansion. He noted that migrations do contribute to the decline of term ACV and associated term revenue over time.

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