10-Q Filing

PEGASYSTEMS INC CIK: 1013857 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001013857-19-000014`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	pega-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 36 Cash Flow Statement 40 Stockholders Equity 26 Comprehensive Income 10

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.42M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$91.80M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	78.53M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	78.90M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$93.00M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	78.90M	shares	Point-in-time
Total cash, cash equivalents, and marketable securities	`CashCashEquivalentsAndShortTermInvestments`	$202.17M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	78.53M	shares	Point-in-time
Total cash, cash equivalents, and marketable securities	`CashCashEquivalentsAndShortTermInvestments`	$207.42M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$135.35M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$180.87M	USD	Point-in-time
Unbilled receivables	`UnbilledReceivablesCurrent`	$172.66M	USD	Point-in-time
Unbilled receivables	`UnbilledReceivablesCurrent`	$161.48M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$63.73M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$610.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$562.73M	USD	Point-in-time
Long-term unbilled receivables	`UnbilledReceivablesNonCurrent`	$151.24M	USD	Point-in-time
Long-term unbilled receivables	`UnbilledReceivablesNonCurrent`	$130.49M	USD	Point-in-time
Goodwill	`Goodwill`	$72.86M	USD	Point-in-time
Goodwill	`Goodwill`	$72.90M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$190.43M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$147.82M	USD	Point-in-time
Total assets	`Assets`	$982.55M	USD	Point-in-time
Total assets	`Assets`	$956.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.56M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$45.51M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$40.95M	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$84.67M	USD	Point-in-time
Accrued compensation and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$56.35M	USD	Point-in-time
Deferred revenue	`DeferredCreditsAndOtherLiabilitiesCurrent`	$180.84M	USD	Point-in-time
Deferred revenue	`DeferredCreditsAndOtherLiabilitiesCurrent`	$185.15M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$12.45M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$302.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$331.81M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$45.33M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesGrossNoncurrent`	$8.32M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesGrossNoncurrent`	$6.94M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$22.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$361.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$368.13M	USD	Point-in-time
Preferred stock, 1,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, 1,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, 200,000 shares authorized; 78,896 and 78,526 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$785.00K	USD	Point-in-time
Common stock, 200,000 shares authorized; 78,896 and 78,526 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$789.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$119.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$123.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$510.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$479.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$655.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$621.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$588.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$663.85M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$982.55M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$956.56M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$235.18M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$212.55M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$74.44M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$75.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$138.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$159.57M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$108.86M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$88.38M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$46.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$50.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.46M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$151.63M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$172.14M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$7.94M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-34.03M	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.08M	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-3.71M	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$764.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$723.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$363.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
(Loss) income before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.98M	USD	1 Quarter
(Loss) income before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-37.02M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-4.22M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-8.30M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-28.72M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.37	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.37	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	78.58M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	78.24M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	78.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.10M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-28.72M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.35M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$15.11M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$18.77M	USD	1 Quarter
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$10.32M	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.08M	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-3.71M	USD	1 Quarter
Other non-cash	`OtherNoncashIncomeExpense`	$-1.14M	USD	1 Quarter
Other non-cash	`OtherNoncashIncomeExpense`	$-1.47M	USD	1 Quarter
Change in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$-9.11M	USD	1 Quarter
Change in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$-15.80M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$55.66M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.70M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$35.20M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$7.22M	USD	1 Quarter
Proceeds from maturities and called investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$8.55M	USD	1 Quarter
Proceeds from maturities and called investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$6.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$2.07M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$2.79M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.47M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.28M	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$2.36M	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$2.34M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$23.22M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$20.71M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.59M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.05M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.19M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$295.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.51M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.05M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$110.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$114.42M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$165.79M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$162.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$110.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$114.42M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$165.79M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$162.28M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Dividend declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter
Dividend declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter
Balance, beginning of period (in shares)	`CommonStockSharesOutstanding`	78.90M	shares	Point-in-time
Balance, beginning of period (in shares)	`CommonStockSharesOutstanding`	78.53M	shares	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$655.87M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$621.53M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$588.43M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$663.85M	USD	Point-in-time
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$5.69M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$7.59M	USD	1 Quarter
Issuance of common stock for share-based compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-15.55M	USD	1 Quarter
Issuance of common stock for share-based compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-14.84M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$15.11M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.41M	USD	1 Quarter
Cash dividends declared ($0.12 per share)	`DividendsCommonStockCash`	$2.37M	USD	1 Quarter
Cash dividends declared ($0.12 per share)	`DividendsCommonStockCash`	$2.35M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$4.26M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-28.72M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Balance, end of period (in shares)	`CommonStockSharesOutstanding`	78.90M	shares	Point-in-time
Balance, end of period (in shares)	`CommonStockSharesOutstanding`	78.53M	shares	Point-in-time
Balance, end of period	`StockholdersEquity`	$655.87M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$621.53M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$588.43M	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$663.85M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-28.72M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$374.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-188.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.63M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$4.45M	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00M	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$4.26M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-26.72M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$16.46M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.