Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (NASDAQ: PEGA) invites developers of all skill levels to register for its 2022 Pega Community Hackathon, open until October 7, 2022. Participants will create innovative applications addressing business and social challenges using Pega's low-code platform. The event offers mentorship and resources, with winners announced in October across seven categories, including Social Impact and Best in Show. Recognized teams will receive cash prizes, and a charity donation will be made for the Social Impact award winner.

Pegasystems Inc. (NASDAQ: PEGA) received the 2022 Partner of the Year Award from Virtusa, recognizing its effective collaboration and value delivery in technology and joint solutions. The award evaluated partners based on year-over-year pipeline growth, relationship tier, and go-to-market strategies. Pega and Virtusa's partnership, established in 2002, spans various industries, facilitating AI-powered decision-making and workflow automation through the Pega Platform. This recognition highlights Pega's commitment to client success and innovative problem-solving.

Pegasystems Inc. (NASDAQ: PEGA) has appointed Dr. Kikelomo (Dayo) Belizaire as its first chief medical officer, enhancing its focus on healthcare solutions. Dr. Belizaire's extensive background in internal medicine and healthcare consulting will guide Pega in developing clinically relevant solutions for healthcare clients. With a strong emphasis on improving care outcomes and collaboration among stakeholders, her insights aim to optimize Pega's offerings in the rapidly evolving healthcare landscape. Her previous experience includes significant roles at Anthem and various health systems across the U.S.

Pegasystems Inc. (NASDAQ: PEGA) announced the launch of Pega Launchpad, a new low-code, cloud-based platform aimed at enabling users to develop and commercialize B2B Software as a Service (SaaS) applications. This platform addresses challenges in the competitive SaaS market by offering visual low-code development, support for customizations, and a scalable cloud-native architecture. Initially engaging with prospects, Pega plans to make Pega Launchpad available on Pega Cloud in 2023, enhancing its existing service offerings and expanding its ecosystem.

Pegasystems Inc. reported total revenue of $651 million for the first half of 2022, indicating a 2% year-over-year increase. The annual contract value (ACV) rose 14%, 19% in constant currency, and the backlog reached $1.1 billion. However, the company faced significant losses, with a net GAAP loss of $286 million in Q2 2022, compared to a net income of $37 million in Q2 2021. Diluted loss per share was $3.50. Despite a challenging environment, Pegasystems continues to focus on growth and aims to be a Rule of 40 company by 2024.

Pegasystems Inc. (NASDAQ: PEGA) has been recognized as a Leader by Forrester Research in its Q3 2022 report on Core CRM Solutions. Pega received the highest score in the current offering category and excelled in 16 out of 35 evaluation criteria, showcasing its strengths in user productivity, guidance, and customer engagement. The report highlights Pega's AI-powered CRM, which emphasizes automation and real-time decision-making to optimize customer interactions. This acknowledgment aligns with Pega's ongoing commitment to enhancing client experiences through innovative low-code solutions.

Brewer Lane Ventures, a Boston-based venture capital firm, announces the appointment of Douglas Kim as Operating Partner. Kim brings 30 years of experience in enterprise software, including founding Pega Cloud, a $250M SaaS business for Pegasystems (NASDAQ: PEGA). David Castellani has been promoted to Operating Partner. Kim aims to collaborate with portfolio company founders in the evolving financial services market, emphasizing innovative strategies. Castellani expressed optimism about the future of fintech and insurtech.

Pegasystems Inc. (NASDAQ: PEGA) announced that COO and CFO Ken Stillwell will present at two upcoming investor conferences. The first is KeyBanc's 23rd Annual Technology Leadership Forum on August 8, 2022, at 2:00 p.m. MDT in Vail, CO. The second is Oppenheimer's 25th Annual Technology, Internet & Communications Conference on August 10, 2022, at 9:05 a.m. EDT, held virtually. Archived presentations will be available on Pega's Investors page for a limited time. Pega empowers businesses through its low-code platform for enhanced agility and operational efficiency.