Pegasystems Inc. (PEGA) develops, markets, licenses, hosts, and supports enterprise software designed to optimize decisions and processes in real-time. The company provides a low-code platform for workflow automation and AI-powered decisioning, enabling organizations to personalize customer experiences, streamline customer service, and automate critical business processes. PEGA's offerings include software products and services that cater to customer engagement, operational excellence, and enterprise applications.
- Subscription Services - Offers hosted platforms and applications through Pega Cloud, along with maintenance services that include support, software upgrades, and bug fixes.
- Pega Cloud - Provides cloud-based solutions for hosting enterprise applications and enabling workflow automation.
- Subscription License - Delivers term license arrangements for the Pega Platform and software applications.
- Consulting Services - Facilitates new software license implementations, training, and reimbursable costs to support client success.
- Perpetual License - Supplies perpetual license arrangements for the Pega Platform and software applications.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Alan Trefler ExecutiveBoard | Chairman of the Board of Directors and Chief Executive Officer | Alan Trefler is the founder of PEGA and has served as Chairman of the Board and Chief Executive Officer since 1983. He previously managed an electronic funds transfer product for TMI Systems Corporation. | View Report → | |
Efstathios Kouninis Executive | Senior Vice President of Finance | Efstathios Kouninis is the Senior Vice President of Finance at Pegasystems, and he also serves as Chief Accounting Officer and Treasurer. He has been in key executive positions at Pegasystems since May 2008, with his current role as Senior Vice President of Finance starting on April 1, 2024. | ||
John Higgins Executive | Chief of Client & Partner Success | John Higgins joined Pegasystems in February 2021 as Head of Global Consulting and Client Success and was named Chief of Client & Partner Success on March 7, 2022. He previously led International Services for EMEA, APAC, and LATAM at Salesforce from July 2012 to September 2020. | ||
Kenneth Stillwell Executive | Chief Operating Officer | Kenneth Stillwell is the Chief Operating Officer at Pegasystems, having been promoted to this role in April 2021 while also serving as CFO since he joined in July 2016. He has held key executive roles at companies including Dynatrace, SOVOS, and PTC, underscoring his extensive experience in financial and operational leadership. | ||
Kerim Akgonul Executive | Chief Product Officer | Kerim Akgonul is the Chief Product Officer at PEGA since April 2021, having previously served as Senior Vice President of Engineering from 2014 to 2021 at the company. He has been with PEGA since 1992, accumulating nearly three decades of expertise in software development and management. | ||
Christopher Lafond Board | Board Member | Christopher Lafond has been a member of Pegasystems' Board of Directors since April 2019 and serves on the Audit and Nominating and Corporate Governance Committees since June 2019. Prior to joining Pegasystems, he held executive roles at companies such as Insurity, Inc., Intralinks Holdings, Inc., and Gartner, Inc.. | ||
Dianne Ledingham Board | Board of Directors Member | Board of Directors at Edgio (since September 2022); Board member at City Year Boston (since 2009, Chair from 2013 to 2017); Treasurer at Ventures for Hope (since February 2014) | Dianne Ledingham has served on the Board of Directors at PEGA since September 2016 and on the Compensation and Nominating & Corporate Governance Committees since January 2017. She brings over 30 years of leadership experience from Bain & Company, where she pioneered sales and channel effectiveness initiatives. | |
Larry Weber Board | Board Member | CEO and Chairman of the Board at Racepoint Global, Inc. | Larry Weber has been a board member at Pegasystems Inc. since August 2012 and serves on the Compensation Committee (since May 2013), Nominating and Corporate Governance Committee (member since May 2013 and Chair since January 2015), and Audit Committee (since June 2021). He is also the CEO and Chairman of Racepoint Global, Inc.. | |
Peter Gyenes Board | Board Member | Chairman of the Board of Directors of Syncro | Peter Gyenes has served on the Board of Directors at Pegasystems since March 2009 and on key committees since July 2009. Previously, he was Chairman and CEO at Ascential Software from 1996 to 2005, bringing extensive leadership experience in the technology industry. | |
Richard Jones Board | Board Member at PEGA | Member of Board of Directors at Resonantia, Inc. since September 2022; Member of Board of Directors at KaliVir Immunotherapeutics, Inc. since July 2014; Chairman at Jones Boys Ventures since June 1995 | Richard Jones has served at PEGA in various leadership roles including as President and Chief Operating Officer from October 1999 to September 2002 and has been a member of the Board of Directors since November 2000. He contributes through his participation in the Compensation Committee and Nominating and Corporate Governance Committee since July 2011. | |
Rohit Ghai Board | Member of the Board of Directors | CEO and Board Member at RSA Security, Inc.; Board Member at D-wave Systems; Board Member at MHC Software | Rohit Ghai has served as a member of the Board of Directors at Pegasystems Inc. since January 2025. He is recognized for his leadership in cybersecurity and digital transformation, having previously held roles as CEO and Board Member at RSA Security, Inc.. | |
Sharon Rowlands Board | Board of Directors Member | CEO of Newfold Digital, Inc.; Board Member at Constant Contact; Advisor on the Board at Sonihull | Sharon Rowlands is an experienced leader with over 20 years in executive roles, currently serving on the Board of Directors at Pegasystems since April 2016 and as Chair of the Compensation Committee since January 2017. Previously, she has held CEO roles at Newfold Digital, Inc. and other organizations, demonstrating her diverse leadership across industries. |
- Given the robust Q1 ACV addition of $74 million and the acknowledged revenue lag from ACV to Pega Cloud revenue, can you detail the factors causing this timing delay and outline how you plan to accelerate conversion in future quarters?
- With notable term license revenue variability due to ASC 606 accounting treatments and seasonality, how are you refining your forecasting methods to manage these fluctuations and provide clearer guidance?
- Blueprint has become ubiquitous in every deal, yet its impact on accelerating deal velocity is only partly understood; can you quantify its direct influence on pipeline quality and discuss any potential overreliance concerns?
- Amid macro uncertainty and shifts in customer buying behavior, what specific measures are being implemented to sustainably expand sales and marketing capacity, particularly for capturing new logos without eroding cost efficiency?
- As you strive to balance aggressive ACV growth with expanding free cash flow margins under your Rule 40 strategy, what specific trade-offs might you face if growth pressures begin to impact free cash flow generation?
Research analysts who have asked questions during PEGASYSTEMS earnings calls.
Mark Schappel
Loop Capital Markets
4 questions for PEGA
Blair Abernethy
Rosenblatt Securities Inc.
3 questions for PEGA
Patrick Walravens
Citizens JMP
3 questions for PEGA
Pinjalim Bora
JPMorgan Chase & Co.
3 questions for PEGA
Steven Enders
Citigroup Inc.
3 questions for PEGA
Devin Au
KeyBanc Capital Markets Inc.
2 questions for PEGA
Jacob Roberge
William Blair
2 questions for PEGA
Raimo Lenschow
Barclays
2 questions for PEGA
Rishi Jaluria
RBC Capital Markets
2 questions for PEGA
Alexei Gogolev
JPMorgan Chase & Co.
1 question for PEGA
Austin Cole
Citizens JMP Securities, LLC
1 question for PEGA
Daniel Ives
Wedbush Securities
1 question for PEGA
Devin Oh
KeyBanc Capital Markets
1 question for PEGA
Jake Roberge
William Blair & Company, L.L.C
1 question for PEGA
Max Persico
RBC Capital Markets
1 question for PEGA
Steve Enders
Citigroup
1 question for PEGA
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This competitor is one of the world's largest companies and competes in markets such as CRM, DPA, BPM, and other enterprise software markets. It has far greater resources and may respond more quickly to new technologies or client requirements. | |
This competitor is a major player in the enterprise software market, offering products that compete in areas like CRM, low-code application development, and other related markets. It has significant sales, marketing, and financial resources. | |
This competitor operates in the CRM and DPA markets, among others, and has extensive geographical presence and greater name recognition, which may provide a competitive advantage. | |
This competitor is a leader in the CRM market and competes directly in customer engagement and related software solutions. It has substantial resources and a strong market presence. | |
This competitor is a global leader in enterprise software, competing in markets such as CRM and DPA. It has a strong reputation and significant resources. | |
This competitor is a significant player in the DPA and workflow automation markets, offering solutions that overlap with the company's offerings. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Client A | Not provided in the filings | All | 20% of accounts receivable as of December 31, 2024 ($61.1 million) , representing 11% of total receivables. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Everflow | 2022 | The Everflow acquisition focused on integrating its process mining technology into Pegasystems’ App Studio and core process automation platform, enhancing workflow automation and operational efficiency. The strategic rationale was to complement Pegasystems’ existing product lines and drive customer adoption through seamless technology integration without creating a separate product division. |
Recent press releases and 8-K filings for PEGA.
- Pega delivered record results in Q3 2025, with Pega Cloud Annual Contract Value (ACV), revenue, and free cash flow all reaching new highs and demonstrating continued acceleration.
- Annual Contract Value (ACV) grew 14% year over year. Through the first nine months of 2025, the company added over $147 million in net new ACV in constant currency, surpassing the total net new ACV added in the entire year of 2024.
- Pega Cloud ACV grew 27% year over year and represented the fastest-growing component of Pega's total ACV, with Pega Cloud margins approaching 80% in Q3.
- The company's differentiated AI strategy, centered around Pega Blueprint, is resonating with clients, shortening sales cycles, and accelerating time from design to production.
- PEGA completed its largest share repurchase quarter ever, reflecting a strong commitment to return capital to shareholders.
- Pegasystems (PEGA) reported record results in Q3 2025, with Annual Contract Value (ACV) growing 14% year-over-year and Pega Cloud ACV increasing 27% year-over-year. The company also completed its largest share repurchase quarter ever.
- The strong performance is attributed to PEGA's differentiated AI strategy, which uses Pega GenAI Blueprint for application design and a robust workflow engine for reliable runtime execution, accelerating sales cycles and time to production.
- Pega Cloud margins are approaching 80% in Q3, reflecting the scalability of the platform and the ongoing shift towards a cloud-native business model.
- Net new ACV through the first nine months of 2025 exceeded the total net new ACV for all of 2024, driven by the positive impact of Pega GenAI Blueprint and legacy transformation opportunities.
- The company anticipates new logos will become a more meaningful driver of future ACV growth through a successful partner strategy.
- Pegasystems Inc. (PEGA) reported its Q3 2025 financial results on October 21, 2025, with Annual Contract Value (ACV) growing 14% year over year and Pega Cloud ACV increasing 27% year over year.
- The company demonstrated improved profitability, reporting net income of $43,364 thousand and diluted earnings per share of $0.24 for Q3 2025, a significant improvement from a net loss and negative EPS in Q3 2024.
- Cash flow from operations and free cash flow both grew 38% year over year. For the nine months ended September 30, 2025, cash provided by operating activities was $346,796 thousand and free cash flow was $338,311 thousand.
- PEGA engaged in capital allocation by repurchasing 8.7 million shares for $393 million year to date.
- Pegasystems reported a 14% year-over-year growth in Annual Contract Value (ACV) to $1,557 million as of September 30, 2025, with Pega Cloud ACV increasing 27% year over year.
- Total revenue for the third quarter of 2025 rose 17% to $381.35 million, contributing to a 23% increase in total revenue for the nine months ended September 30, 2025, reaching $1,241.50 million.
- The company achieved GAAP net income of $43.36 million (diluted EPS of $0.24) for Q3 2025, a significant improvement from a net loss in Q3 2024.
- Cash flow from operations and free cash flow both grew 38% year over year for the nine months ended September 30, 2025.
- Pegasystems repurchased 8.7 million shares for $393 million year to date.
- Pegasystems (Pega) provides an AI decisioning and workflow automation platform for enterprise customers in sectors including financial services, healthcare, insurance, and government.
- The company addresses technical debt, a significant barrier to AI adoption for 88% of surveyed executives. Its Pega Blueprint product, launched 18 months ago, is rapidly adopted, enabling clients like Vodafone to achieve concept-to-live for applications in 40 hours.
- Pega's architecture is well-suited for the "agentic world," allowing it to orchestrate work across various agents and ensure predictable outcomes. Its monetization model is based on the amount of automation driven, not per user, which is advantageous in the AI era.
- Pega does not build its own large language models, instead integrating with multiple third-party models such as OpenAI's GPT-4/GPT-5 and Anthropic's Claude.
- Pegasystems Inc. reported strong financial results for the first half of 2025, with Annual Contract Value (ACV) growing 16% year-over-year (reported) and net new ACV add increasing by 60% year-over-year (constant currency). Total ACV exceeded $1.5 billion for the first time, and free cash flow reached $286 million in the first half of 2025.
- The company's Pega GenAI Blueprint is highlighted as a significant driver of business momentum, transforming the go-to-market motion and enabling faster, easier, and safer AI transformation and legacy modernization.
- Pega is expanding its partner ecosystem, including a new five-year strategic collaboration agreement with AWS and the launch of partner-branded Blueprints, with major systems integrators signing up.
- The company repurchased $251 million of its shares in the first half of 2025, representing over 85% of total free cash flow generated during the period.
- Management noted that Q3 is historically the softest quarter for net new ACV add and free cash flow due to seasonal patterns, but overall market sentiment is slightly better than a quarter ago.
- Pegasystems Inc. reported strong financial results for Q2 2025, with Annual Contract Value (ACV) growing 16% year over year as reported and 14% in constant currency.
- Pega Cloud ACV increased 28% year over year as reported and 25% in constant currency.
- Cash flow from operations and free cash flow both grew over 30% year over year.
- Total revenue for Q2 2025 was $384,512 thousand, a 9% increase from the prior year period, and GAAP net income for the quarter was $30,077 thousand, up 355%.
- The company's backlog (remaining performance obligations) as of June 30, 2025, was $1,835,329 thousand, representing a 31% increase since June 30, 2024.
- Pegasystems (PEGA) signed a five-year strategic collaboration agreement (SCA) with Amazon Web Services (AWS) on July 14, 2025.
- The collaboration aims to help clients accelerate legacy modernization projects and address technical debt by leveraging Pega products with AWS advanced generative AI services.
- Pega will integrate Amazon Bedrock as the primary generative AI foundation for Pega Blueprint and Pega Platform, enabling secure use of various large language models (LLMs).
- Pega also committed to selling Pega-as-a-Service in AWS Marketplace as the preferred transaction mechanism, offering financial benefits and migration services.