Pega delivers innovative software that crushes business complexity. From maximizing customer lifetime value to
streamlining service to boosting efficiency, they try to help the world’s leading brands solve problems fast and transform for tomorrow. Yesterday, the company released its financial results for the first quarter of 2022. The most notable metrics are the following:
- Annual contract value grows 21 percent as profitability improves in Q1, 2022.
- Total revenue grows 20 percent to $376 million.
- Gross margin improves to 77 percent.
“As we get closer to the completion of the subscription transition, we are placing a greater emphasis on managing growth and profitability to become a Rule of 40 company. This is more important than ever given the current economic environment, and I’m pleased to see the progress our team is making in maintaining our ACV growth rate while improving margins.”Ken Stillwell, COO and CFO, Pegasystems
To view the full press release with financials, click here.