Pegasystems Inc Stock Price, News & Analysis

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.

Pegasystems Inc. (NASDAQ: PEGA) will report its Q2 2022 financial results on July 27, 2022, after market close. Following the announcement, a conference call and webcast will be held at 5:00 p.m. EDT the same day for public participation. Investors can join via phone or through a webcast link available on the company's website. Pega emphasizes its low-code platform's role in enabling organizations to adapt quickly to changes in a dynamic business environment.

Workhuman has appointed Tom Libretto as Chief Marketing Officer (CMO), bringing nearly 20 years of global marketing experience. Previously at Pegasystems (NASDAQ: PEGA), he led transformative marketing initiatives. Workhuman aims to enhance workplace connections and recognition through its SaaS platform, Workhuman Cloud, and will host its inaugural Workhuman Live Europe event in Dublin from September 26-28. Libretto's leadership is expected to drive growth as the company focuses on addressing modern human capital challenges.