Pegasystems Inc. (NASDAQ: (PEGA) stock gained by 0.35% at last close whereas the PEGA stock price fell by 7.35% in the after-hours trading session. The company has recently announced its financial outcomes for the third quarter of 2021. Pega develops cutting-edge software that reduces business complexity, allowing its clients to make smarter decisions and complete tasks faster. They work with the world’s most well-known businesses to address their most pressing business issues, such as increasing client lifetime value, optimizing customer service, and improving operational efficiency.
PEGA stock’ Financial Highlights
Pegasystems announced its financial results for the third quarter of 2021. Given below is the summary:
- The company has generated a revenue of $256.27 million for the third quarter of 2021 compared to the revenue of $225.95 million in the third quarter of 2020. This is an increase of 13%.
- The GAAP net loss for the third quarter of 2021 was $56,468 whereas it was $19,267 for the third quarter of 2020, it’s a rise of 193%.
- The GAAP net income for the third quarter of 2021 was $32,860 compared to $26,701 for the third quarter of 2020, a surge of 23%.
Alan Trefler, founder and CEO of, Pegasystems stated,
Digital transformation is being pursued with enthusiasm by sophisticated enterprises. Organizations understand that they must adjust to meet today’s demands while also planning for the inevitable changes that will occur in the future. They help their clients conquer business complications with solutions built on a low-code framework and a result-oriented workflow methodology that allows them to operate better, easier, and faster in an uncertain world. He is excited about how Pega’s highly differentiated product is satisfying their needs.
Ken Stillwell, COO, and CFO, Pegasystems commented,
It’s fantastic to see total ACV increase by 22% year over year in Q3 2021, thanks to Pega Cloud Choice once again. Their final findings for the first three quarters of this year show that the digital revolution is a top priority for their clients all over the world.
