Pegasystems

Pegasystems Inc. (Nasdaq: PEGA) is a leading provider of enterprise AI decisioning and workflow automation software. Founded in 1983 and headquartered in Cambridge, Massachusetts, Pegasystems offers a unified platform that enables organizations to build, deploy and evolve AI-powered applications for customer engagement and digital process automation.

Pega's product portfolio includes solutions for customer relationship management (CRM), customer service, sales automation, marketing automation, and business process management (BPM). Its flagship Pega Infinity platform combines AI, robotic process automation, and case management capabilities. Key products include Pega Customer Decision Hub for AI-powered customer engagement, Pega Customer Service for omnichannel customer support, Pega Sales Automation for sales force automation, and Pega Process Mining for process optimization. Pega Cloud, the company's cloud offering, provides flexible deployment options for customers.

Pegasystems reported strong financial results for Q4 2023, with annual contract value (ACV) growing 11% year-over-year to USD 1.255 billion. The company achieved record cash flow, with operating cash flow and free cash flow both exceeding USD 200 million for the first time. Pega Cloud gross margin improved to 74% for 2023. Looking ahead, Pegasystems projects continued ACV growth and forecasts revenue of USD 1.5 billion with free cash flow of USD 350 million for 2024. The company is focusing on leveraging generative AI capabilities to drive innovation and client success.