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10-Q Filing

PEGASYSTEMS INC CIK: 1013857 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001013857-20-000015
Period End Date 20200331
Filing Date 20200429
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance pega-20200331_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $68.36M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $538.14M USD 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
Accounts receivable AccountsReceivableNetCurrent $199.72M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $191.53M USD 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
Unbilled receivables UnbilledReceivablesCurrent $180.22M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 200.00M shares Point-in-time
Unbilled receivables UnbilledReceivablesCurrent $182.40M USD Point-in-time
Other current assets OtherAssetsCurrent $57.31M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 80.08M shares Point-in-time
Other current assets OtherAssetsCurrent $72.00M USD Point-in-time
Total current assets AssetsCurrent $984.07M USD Point-in-time
Total current assets AssetsCurrent $505.61M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 80.08M shares Point-in-time
Unbilled receivables UnbilledReceivablesNonCurrent $110.39M USD Point-in-time
Unbilled receivables UnbilledReceivablesNonCurrent $121.74M USD Point-in-time
Goodwill Goodwill $78.50M USD Point-in-time
Goodwill Goodwill $79.04M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $278.43M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $301.43M USD Point-in-time
Total assets Assets $1.47B USD Point-in-time
Total assets Assets $984.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.48M USD Point-in-time
Accounts payable AccountsPayableCurrent $27.77M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $36.98M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $48.00M USD Point-in-time
Accrued compensation and related expenses EmployeeRelatedLiabilitiesCurrent $59.93M USD Point-in-time
Accrued compensation and related expenses EmployeeRelatedLiabilitiesCurrent $104.13M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $190.08M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $197.02M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $18.27M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $17.79M USD Point-in-time
Total current liabilities LiabilitiesCurrent $377.95M USD Point-in-time
Total current liabilities LiabilitiesCurrent $339.49M USD Point-in-time
Convertible senior notes, net ConvertibleLongTermNotesPayable $505.11M USD Point-in-time
Convertible senior notes, net ConvertibleLongTermNotesPayable - USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $52.61M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $47.92M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $15.26M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $15.24M USD Point-in-time
Total liabilities Liabilities $907.78M USD Point-in-time
Total liabilities Liabilities $445.80M 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; 80,076 and 79,599 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively CommonStockValue $796.00K USD Point-in-time
Common stock, 200,000 shares authorized; 80,076 and 79,599 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively CommonStockValue $801.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $140.52M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $196.31M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $410.92M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $383.14M USD Point-in-time
Accumulated other comprehensive (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-13.64M USD Point-in-time
Accumulated other comprehensive (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-13.23M USD Point-in-time
Total stockholders equity StockholdersEquity $539.01M 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 $566.61M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $984.81M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.47B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $265.59M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $212.55M USD 1 Quarter
Total cost of revenue CostOfGoodsAndServicesSold $74.44M USD 1 Quarter
Total cost of revenue CostOfGoodsAndServicesSold $79.53M USD 1 Quarter
Gross profit GrossProfit $138.11M USD 1 Quarter
Gross profit GrossProfit $186.06M USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $108.86M USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $136.02M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $50.60M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $58.73M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $15.63M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.68M USD 1 Quarter
Total operating expenses OperatingExpenses $172.14M USD 1 Quarter
Total operating expenses OperatingExpenses $210.38M USD 1 Quarter
(Loss) from operations OperatingIncomeLoss $-24.32M USD 1 Quarter
(Loss) from operations OperatingIncomeLoss $-34.03M USD 1 Quarter
Foreign currency transaction loss ForeignCurrencyTransactionGainLossBeforeTax $-3.71M USD 1 Quarter
Foreign currency transaction loss ForeignCurrencyTransactionGainLossBeforeTax $-5.95M USD 1 Quarter
Interest income InvestmentIncomeNet $607.00K USD 1 Quarter
Interest income InvestmentIncomeNet $723.00K USD 1 Quarter
Interest expense InterestExpense $2.31M USD 1 Quarter
Interest expense InterestExpense - USD 1 Quarter
Loss on capped call transactions GainLossOnDerivativeInstrumentsNetPretax - USD 1 Quarter
Loss on capped call transactions GainLossOnDerivativeInstrumentsNetPretax $-18.59M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.37M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense - USD 1 Quarter
(Loss) before (benefit from) income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-37.02M USD 1 Quarter
(Loss) before (benefit from) income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-49.18M USD 1 Quarter
(Benefit from) income taxes IncomeTaxExpenseBenefit $-23.81M USD 1 Quarter
(Benefit from) income taxes IncomeTaxExpenseBenefit $-8.30M USD 1 Quarter
Net (loss) NetIncomeLoss $-28.72M USD 1 Quarter
Net (loss) NetIncomeLoss $-25.37M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.32 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.37 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.32 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 79.81M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 79.81M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 78.58M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net (loss) NetIncomeLoss $-28.72M USD 1 Quarter
Net (loss) NetIncomeLoss $-25.37M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $23.18M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $18.35M USD 1 Quarter
Loss on capped call transactions GainLossOnDerivativeInstrumentsNetPretax - USD 1 Quarter
Loss on capped call transactions GainLossOnDerivativeInstrumentsNetPretax $-18.59M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-9.23M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.46M USD 1 Quarter
Amortization of deferred contract costs OtherAmortizationOfDeferredCharges $8.50M USD 1 Quarter
Amortization of deferred contract costs OtherAmortizationOfDeferredCharges $8.30M USD 1 Quarter
Lease expense OperatingLeaseExpense $3.85M USD 1 Quarter
Lease expense OperatingLeaseExpense $3.40M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts - USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $1.72M USD 1 Quarter
Amortization of intangible assets and depreciation DepreciationDepletionAndAmortization $6.75M USD 1 Quarter
Amortization of intangible assets and depreciation DepreciationDepletionAndAmortization $4.92M USD 1 Quarter
Amortization of investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-315.00K USD 1 Quarter
Amortization of investments AccretionAmortizationOfDiscountsAndPremiumsInvestments - USD 1 Quarter
Foreign currency transaction loss ForeignCurrencyTransactionGainLossBeforeTax $-3.71M USD 1 Quarter
Foreign currency transaction loss ForeignCurrencyTransactionGainLossBeforeTax $-5.95M USD 1 Quarter
Other non-cash OtherNoncashIncomeExpense $-16.00K USD 1 Quarter
Other non-cash OtherNoncashIncomeExpense $1.37M USD 1 Quarter
Change in operating assets and liabilities, net IncreaseDecreaseInOperatingCapital $-9.11M USD 1 Quarter
Change in operating assets and liabilities, net IncreaseDecreaseInOperatingCapital $49.05M USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.70M USD 1 Quarter
Cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-18.32M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $1.49M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $7.22M USD 1 Quarter
Proceeds from maturities and called investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities - USD 1 Quarter
Proceeds from maturities and called investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $8.55M USD 1 Quarter
Sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt - USD 1 Quarter
Sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $1.42M USD 1 Quarter
Investment in property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.79M USD 1 Quarter
Investment in property and equipment PaymentsToAcquirePropertyPlantAndEquipment $12.50M USD 1 Quarter
Cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-1.47M USD 1 Quarter
Cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-12.56M USD 1 Quarter
Proceeds from issuance of convertible senior notes ProceedsFromConvertibleDebt $600.00M USD 1 Quarter
Proceeds from issuance of convertible senior notes ProceedsFromConvertibleDebt - USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts $14.53M USD 1 Quarter
Purchase of capped calls related to convertible senior notes PaymentsForRepurchaseOfConvertiblePreferredStock $51.90M USD 1 Quarter
Purchase of capped calls related to convertible senior notes PaymentsForRepurchaseOfConvertiblePreferredStock - USD 1 Quarter
Dividend payments to shareholders PaymentsOfDividendsCommonStock $2.36M USD 1 Quarter
Dividend payments to shareholders PaymentsOfDividendsCommonStock $2.39M USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $23.22M USD 1 Quarter
Common stock repurchases PaymentsForRepurchaseOfCommonStock $29.01M USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-25.59M USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $502.17M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $295.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.51M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $469.78M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.05M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.36M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $538.14M 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 $110.37M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $68.36M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $538.14M 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 $110.37M USD Point-in-time
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.03 USD 1 Quarter
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.03 USD 1 Quarter
Balance, beginning of period (in shares) CommonStockSharesOutstanding 80.08M shares Point-in-time
Balance, beginning of period StockholdersEquity $539.01M 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 $566.61M USD Point-in-time
Equity component of convertible senior notes, net AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt $61.60M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $7.59M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $6.00M USD 1 Quarter
Issuance of common stock for share-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $-14.84M USD 1 Quarter
Issuance of common stock for share-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $-23.01M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $23.20M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $18.41M USD 1 Quarter
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.03 USD 1 Quarter
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.03 USD 1 Quarter
Cash dividends declared ($0.03 per share) DividendsCommonStockCash $2.40M USD 1 Quarter
Cash dividends declared ($0.03 per share) DividendsCommonStockCash $2.37M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-414.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $2.00M USD 1 Quarter
Net (loss) NetIncomeLoss $-28.72M USD 1 Quarter
Net (loss) NetIncomeLoss $-25.37M USD 1 Quarter
Balance, end of period (in shares) CommonStockSharesOutstanding 80.08M shares Point-in-time
Balance, end of period StockholdersEquity $539.01M 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 $566.61M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net (loss) NetIncomeLoss $-28.72M USD 1 Quarter
Net (loss) NetIncomeLoss $-25.37M USD 1 Quarter
Unrealized gain on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $374.00K USD 1 Quarter
Unrealized gain on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $100.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-514.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $1.63M USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-414.00K USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $2.00M USD 1 Quarter
Comprehensive (loss) ComprehensiveIncomeNetOfTax $-25.79M USD 1 Quarter
Comprehensive (loss) ComprehensiveIncomeNetOfTax $-26.72M USD 1 Quarter

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

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