Pegasystems Inc. Financial Statements — PEGA Stock

Income Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	337	417	462	509	590	683	762	888	892	911	1,018	1,212	1,318	1,433	1,497
- Cost of Revenue	129	165	157	157	185	213	239	280	302	310	311	336	369	378	391
+ Cost of Goods & Services	129	165	157	157	185	213	239	280	302	310	311	336	369	378	391
+ Sales & Services Revenue	337	417	462	509	590	683	762	888	892	911	1,018	1,212	1,318	1,433	1,497
Gross Profit	208	252	304	352	405	469	523	609	590	601	707	875	949	1,054	1,107
- Operating Expenses	196	241	273	290	353	404	469	516	607	736	850	970	1,037	951	946
+ Research & Development	55	65	77	80	109	126	146	163	182	205	237	261	294	296	298
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	141	176	196	211	244	278	324	353	425	531	613	709	743	656	648
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	11	11	31	61	52	65	54	93	-17	-135	-144	-95	-88	103	161
- Non-Operating (Income) Loss	18	- -	- -	5	4	4	-2	7	-5	- -	-19	37	74	7	18
+ Interest Expense, Net	-1	- -	- -	-1	-1	-1	-1	-1	-3	-2	18	7	6	-2	-19
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19	8	8	7	7
- Interest Income	1	- -	- -	1	1	1	1	1	3	2	1	1	2	9	26
+ Other Non-Op (Income) Loss	19	- -	1	5	5	5	-1	8	-3	2	-37	30	68	10	37
Pretax Income	-6	11	31	56	48	61	55	86	-12	-135	-125	-132	-162	95	143
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Income Tax Expense (Benefit)	- -	1	9	18	15	24	10	-12	-22	-44	-64	-69	184	28	43
Income (Loss) from Cont Ops	-6	10	22	38	33	36	45	99	11	-90	-61	-63	-346	68	99
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-6	10	22	38	33	36	45	99	11	-90	-61	-63	-346	68	99
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-6	10	22	38	33	36	45	99	11	-90	-61	-63	-346	68	99
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-6	10	22	38	33	36	45	99	11	-90	-61	-63	-346	68	99
Basic Weighted Avg Shares	74	75	76	76	76	77	76	77	79	79	80	81	82	83	85
Basic EPS, GAAP	-0.08	0.13	0.29	0.5	0.44	0.47	0.59	1.27	0.14	-1.14	-0.76	-0.77	-4.22	0.82	1.16
Basic EPS from Cont Ops	-0.08	0.13	0.29	0.5	0.44	0.47	0.59	1.27	0.14	-1.14	-0.76	-0.77	-4.22	0.82	1.16
Diluted Weighted Avg Shares	74	79	78	78	79	79	80	83	83	79	80	81	82	85	90
Diluted EPS, GAAP	-0.08	0.13	0.28	0.49	0.42	0.46	0.56	1.19	0.13	-1.14	-0.76	-0.77	-4.22	0.8	1.11
Diluted EPS from Cont Ops	-0.08	0.13	0.28	0.49	0.42	0.46	0.56	1.19	0.13	-1.14	-0.76	-0.77	-4.22	0.8	1.11
EBITDA	23	28	50	81	76	88	78	118	8	-113	-122	-66	-53	137	196
EBITDA Margin (%)	6.95	6.81	10.83	15.95	12.81	12.87	10.19	13.27	0.93	-12.45	-12.01	-5.46	-4.02	9.59	13.11
EBITA	11	11	31	61	52	65	54	93	-17	-135	-144	-95	-88	103	161
EBIT	11	11	31	61	52	65	54	93	-17	-135	-144	-95	-88	103	161
Gross Margin (%)	61.75	60.45	65.91	69.07	68.63	68.73	68.61	68.52	66.15	65.98	69.44	72.24	72.03	73.58	73.91
Operating Margin (%)	3.39	2.62	6.81	12.01	8.85	9.48	7.03	10.49	-1.91	-14.8	-14.11	-7.82	-6.65	7.17	10.74
Profit Margin (%)	-1.75	2.43	4.74	7.47	5.64	5.32	5.91	11.09	1.19	-9.92	-6.03	-5.2	-26.22	4.73	6.63
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.06	0.06	0.08	0.05	0.09	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12
Depreciation Expense	12	17	19	20	23	23	24	25	25	21	21	29	35	35	35

Balance Sheet	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	187	232	279	348	393	446	425	648	611	506	977	840	846	1,029	1,334
+ Accounts & Notes Receiv	87	106	140	170	159	217	279	383	354	380	482	448	512	562	553
+ Accounts Receivable, Net	78	76	111	127	127	186	230	223	181	200	216	183	255	300	305
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	9	30	29	43	32	30	49	160	173	180	267	265	257	262	247
+ Cash, Cash Equivalents & STI	87	111	123	157	211	219	134	224	207	68	465	363	297	423	740
+ Cash & Cash Equivalents	71	60	78	80	115	93	71	162	114	68	172	160	145	230	337
+ ST Investments	16	51	45	76	97	126	63	61	93	- -	293	203	152	193	403
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	13	15	16	21	23	11	12	41	50	57	29	30	37	43	41
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	150	150	160	188	195	181	230	365	372	479	627	753	511	482	435
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	19	21
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	19	21
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	11	14	31	29	30	31	38	40	37	34	108	114	131	111	104
- Accumulated Depreciation	12	15	13	18	24	31	41	52	62	71	82	68	80	83	79
+ Property, Plant & Equip	23	30	44	47	54	62	79	92	98	105	190	183	211	195	184
+ Other LT Assets	139	135	130	159	165	150	191	325	335	445	519	639	367	351	309
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Intangible Assets	105	90	79	100	93	80	117	105	94	99	95	96	92	89	85
+ Goodwill	23	20	20	43	47	47	73	73	73	79	79	82	81	82	81
+ Other Intangible Assets	82	69	58	57	46	33	44	32	21	20	16	14	11	7	4
+ Misc LT Assets	35	45	51	59	72	70	74	220	241	346	424	543	275	262	224
Total Assets	337	382	439	536	588	628	655	1,013	983	985	1,604	1,594	1,358	1,511	1,768
+ Payables & Accruals	58	29	19	35	43	49	51	63	60	65	86	82	71	49	36
+ Other Payables & Accruals	52	18	16	32	18	21	26	38	33	48	62	66	53	23	24
+ Accounts Payable	6	11	3	4	5	13	14	17	16	17	24	15	18	11	6
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	20	16	10	7	10	- -	- -	- -	- -	15	5
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19	7	15	15	482
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	467
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19	7	15	15	15
+ Other ST Liabilities	57	113	136	155	187	218	236	232	272	312	356	397	453	513	569
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	39	41	44	52	62	61	66	87	122	123	121	128	135	145
+ Deferred Revenue	57	74	96	111	135	156	176	166	185	190	233	276	325	378	424
Total Current Liabilities	115	142	155	190	230	267	287	295	332	378	460	485	539	577	1,086
+ LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	53	577	679	673	566	68
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	518	591	594	499	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	53	59	88	79	67	68
+ Other LT Liabilities	27	31	48	74	63	38	31	62	29	15	25	13	15	14	29
+ Accrued Liabilities	18	15	19	34	21	16	11	38	7	- -	9	6	4	2	2
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	9	15	29	40	43	22	20	24	22	15	16	8	12	11	27
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	27	31	48	74	63	38	31	62	29	68	602	692	688	580	97
Total Liabilities	142	173	203	265	293	305	319	357	361	446	1,062	1,177	1,227	1,157	1,183
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	123	130	139	140	142	146	145	153	124	141	205	147	230	380	528
+ Additional Paid in Capital	123	130	139	140	141	145	144	152	123	141	204	146	230	380	527
+ Common Stock	- -	- -	- -	1	1	1	1	1	1	1	1	1	1	1	1
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	71	77	94	128	153	180	198	510	511	411	340	276	-77	-9	88
+ Other Equity	1	2	3	4	-1	-4	-7	-7	-13	-13	-3	-7	-23	-18	-30
Equity Before Minority Interest	196	209	236	272	295	323	336	656	622	539	542	416	131	354	585
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	196	209	236	272	295	323	336	656	622	539	542	416	131	354	585
Total Liabilities & Equity	337	382	439	536	588	628	655	1,013	983	985	1,604	1,594	1,358	1,511	1,768
Shares Outstanding	74	75	76	76	76	76	77	78	79	80	81	82	82	84	86
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	53	78	95	94	82	82
Net Debt	-71	-60	-78	-80	-115	-93	-71	-162	-114	-68	346	431	449	269	130
Net Debt to Equity	-36.35	-28.91	-32.78	-29.52	-38.88	-28.81	-21.02	-24.74	-18.41	-12.68	63.87	103.53	342.82	76.16	22.27
Tangible Common Equity Ratio	39.13	40.75	43.73	39.35	40.82	44.32	40.67	60.69	59.37	49.69	29.63	21.38	3.05	18.65	29.73
Current Ratio	1.63	1.63	1.8	1.83	1.71	1.67	1.48	2.2	1.84	1.34	2.12	1.73	1.57	1.78	1.23
Cash Conversion Cycle	47.75	48.35	57.55	77.28	70.34	68.88	79.07	72.33	62.14	56.22	50.17	38.7	44.06	56.52	65.64
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	-6	10	22	38	33	36	45	99	11	-90	-61	-63	-346	68	99
+ Depreciation & Amortization	12	17	19	20	23	23	24	25	25	21	21	29	35	35	35
+ Non-Cash Items	6	-9	3	4	10	35	39	69	48	78	72	133	398	193	192
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	-2	-15	-6	-7	-14	-2	-4	-3	-31	-49	-60	-75	169	- -	-2
+ Other Non-Cash Adj	1	-3	-2	-1	5	7	3	19	15	46	29	92	106	50	51
+ Stock-Based Compensation	7	9	12	13	19	30	41	53	64	81	103	116	122	143	143
+ Chg in Non-Cash Work Cap	6	22	- -	18	36	-27	-68	-34	21	-51	-33	-60	-64	-78	19
+ (Inc) Dec in Accts Receiv	-25	-8	-27	-21	9	-59	-60	-44	26	1	-32	-12	-51	-58	79
+ Inc (Dec) in Accts Payable	4	9	-8	6	13	17	2	14	21	26	38	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	27	21	35	34	14	16	-10	-5	-26	-78	-39	-48	-13	-20	-60
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	18	40	44	81	103	68	40	158	104	-42	-1	39	22	218	346
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-6	-10	-24	-6	-11	-11	-19	-14	-12	-11	-25	-10	-35	-17	-8
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	-6	-10	-24	-6	-11	-11	-19	-14	-12	-11	-25	-10	-35	-17	-8
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	122	-36	4	-33	-22	-32	61	-1	-36	92	-296	88	49	-34	-195
+ Dec in LT Investment	196	22	25	28	33	44	85	27	34	103	30	167	90	253	365
+ Inc in LT Investment	-74	-57	-20	-61	-56	-76	-24	-28	-69	-11	-327	-79	-41	-287	-559
+ Net Cash From Acq & Div	-109	- -	- -	-26	-4	-2	-49	- -	-1	-11	- -	-5	-1	- -	- -
+ Cash for Acq of Subs	-109	- -	- -	-26	-4	-2	-49	- -	-1	-11	- -	-5	-1	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	7	-45	-19	-64	-38	-44	-7	-15	-48	70	-322	73	13	-51	-203
+ Dividends Paid	-4	-4	-6	-3	-7	-9	-9	-9	-9	-9	-10	-10	-10	-10	-10
+ Net Cash From Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	600	- -	- -	-89	-34
+ Cash From Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	45	600	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	-45	- -	- -	- -	-89	-34
+ Cash (Repurchase) of Equity	-13	-8	-10	-20	-22	-31	-43	-45	-92	-67	-104	-123	-46	-2	-73
+ Decrease in Capital Stock	-15	-11	-10	-20	-22	-31	-43	-45	-92	-67	-104	-123	-46	-2	-73
+ Increase in Capital Stock	2	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	4	7	7	9	1	- -	- -	- -	- -	2	-63	11	9	19	87
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-13	-6	-8	-15	-27	-41	-52	-54	-101	-74	423	-122	-47	-82	-30
Effect of Foreign Exchange Rates	-5	1	1	1	-4	-4	-3	2	-3	- -	2	-2	-3	3	-4
Net Changes in Cash	12	-12	16	2	38	-17	-19	89	-45	-46	101	-10	-12	85	113
Capital Expenditures	-6	-10	-24	-6	-11	-11	-19	-14	-12	-11	-25	-10	-35	-17	-8
EBITDA	23	28	50	81	76	88	78	118	8	-113	-122	-66	-53	137	196
EBITDA Margin (%)	6.95	6.81	10.83	15.95	12.81	12.87	10.19	13.27	0.93	-12.45	-12.01	-5.46	-4.02	9.59	13.11
Net Cash Paid for Acquisitions	109	- -	- -	26	4	2	49	- -	1	11	- -	5	1	- -	- -
Free Cash Flow	13	30	20	75	92	57	21	144	92	-53	-26	29	-13	201	338
Free Cash Flow to Firm	- -	30	20	75	92	57	21	- -	- -	- -	- -	- -	- -	206	343
Free Cash Flow to Equity	13	30	20	75	92	57	21	144	92	-53	574	29	-13	112	304
Free Cash Flow per Basic Share	0.17	0.4	0.26	0.99	1.2	0.74	0.27	1.87	1.18	-0.67	-0.32	0.35	-0.16	2.42	3.97
Price/Free Cash Flow	53.89	22.48	12.69	21.57	13.87	27.05	47.94	22.42	33.8	-197.71	428.14	182.3	48.4	17.66	23.62
Cash Flow to Net Income	-3.13	3.94	1.99	2.12	3.11	1.87	0.89	1.61	9.83	0.47	0.01	-0.62	-0.06	3.21	3.49

Pegasystems Inc.

Income Statement

Balance Sheet

Cash Flow Statement