Pegasystems (PEGA) financial statements
Pegasystems reported revenue of $1.7B in fiscal 2025, up 9.6% a year over 9 years.
Net income was $393M and the operating margin 15.1%, against 6.6% in 2016.
Free cash flow was $491M, and the company returned $15M in dividends and $500M in net buybacks.
The diluted share count rose 16% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Pegasystems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $762M | $888M | $892M | $911M | $1.0B | $1.2B | $1.3B | $1.4B | $1.5B | $1.7B |
| Cost of revenue | $239M | $280M | $302M | $310M | $311M | $336M | $369M | $378M | $391M | $421M |
| Gross profit | $523M | $609M | $590M | $601M | $707M | $875M | $949M | $1.1B | $1.1B | $1.3B |
| Research and development | $146M | $163M | $182M | $205M | $237M | $261M | $294M | $296M | $298M | $313M |
| Selling, general and admin | $324M | $353M | $425M | $531M | $613M | $709M | $743M | $656M | $648M | $727M |
| Operating income | $51M | $93M | -$17M | -$135M | -$144M | -$95M | -$109M | $81M | $124M | $263M |
| Interest expense | — | — | $10,000 | $212,000 | $19M | $8M | $8M | $7M | $7M | $1M |
| Pre-tax income | $55M | $86M | -$12M | -$135M | -$125M | -$132M | -$162M | $95M | $143M | $281M |
| Income tax | $10M | -$12M | -$22M | -$44M | -$64M | -$69M | $184M | $28M | $43M | -$113M |
| Net income | $45M | $99M | $11M | -$90M | -$61M | -$63M | -$346M | $68M | $99M | $393M |
| EPS (diluted) | $0.28 | $0.59 | $0.07 | -$0.57 | -$0.38 | -$0.39 | -$2.11 | $0.37 | $0.55 | $2.13 |
| Diluted shares | 159M | 166M | 166M | 158M | 161M | 163M | 164M | 170M | 179M | 185M |
| Gross margin | 68.6% | 68.5% | 66.2% | 66.0% | 69.4% | 72.2% | 72.0% | 73.6% | 73.9% | 75.9% |
| Operating margin | 6.6% | 10.5% | -1.9% | -14.8% | -14.1% | -7.8% | -8.3% | 5.7% | 8.3% | 15.1% |
| Net margin | 5.9% | 11.1% | 1.2% | -9.9% | -6.0% | -5.2% | -26.2% | 4.7% | 6.6% | 22.5% |
Balance sheet
Fiscal years, from Pegasystems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $134M | $224M | $207M | $68M | $465M | $363M | $297M | $423M | $740M | $426M |
| Receivables | $265M | $223M | $181M | $200M | $216M | $183M | $255M | $300M | $305M | $265M |
| Total current assets | $425M | $648M | $611M | $506M | $977M | $840M | $846M | $1.0B | $1.3B | $978M |
| Property, plant and equipment | $38M | $40M | $37M | $34M | $40M | $27M | $55M | $47M | $42M | $45M |
| Goodwill | $73M | $73M | $73M | $79M | $79M | $82M | $81M | $82M | $81M | $82M |
| Total assets | $655M | $1.0B | $983M | $985M | $1.6B | $1.6B | $1.4B | $1.5B | $1.8B | $1.6B |
| Total current liabilities | $287M | $295M | $332M | $378M | $460M | $485M | $539M | $577M | $1.1B | $738M |
| Total liabilities | $319M | $357M | $361M | $446M | $1.1B | $1.2B | $1.2B | $1.2B | $1.2B | $844M |
| Shareholders' equity | $549M | $656M | $622M | $539M | $542M | $416M | $131M | $354M | $585M | $787M |
| Net debt | -$71M | -$162M | -$114M | -$68M | -$172M | -$160M | -$145M | -$230M | -$337M | -$212M |
Cash flow
Fiscal years, from Pegasystems's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40M | $158M | $104M | -$42M | -$563,000 | $39M | $22M | $218M | $346M | $505M |
| Capital spending | $19M | $14M | $12M | $11M | $25M | $10M | $35M | $17M | $8M | $15M |
| Free cash flow | $21M | $144M | $92M | -$53M | -$26M | $29M | -$13M | $201M | $338M | $491M |
| Stock-based compensation | $41M | $53M | $64M | $81M | $103M | $116M | $122M | $143M | $143M | $155M |
| Dividends paid | $9M | $9M | $9M | $9M | $10M | $10M | $10M | $10M | $10M | $15M |
| Share buybacks (net) | -$27M | -$4M | -$54M | -$22M | -$28M | -$53M | -$26M | $0 | -$68M | -$500M |
| Free cash flow margin | 2.7% | 16.3% | 10.4% | -5.8% | -2.5% | 2.4% | -1.0% | 14.0% | 22.6% | 28.1% |
| Dividends per share | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.08 |
Questions
What was Pegasystems's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Pegasystems generate?
$491M in fiscal 2025 (operating cash flow minus capital spending).
From Pegasystems's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.