$PEGA
PEGASYSTEMS INC

2016 Q1 Form 10-Q Financial Statement

#000119312516579976 Filed on May 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $178.9M $153.9M
YoY Change 16.2% 9.58%
Cost Of Revenue $56.51M $50.06M
YoY Change 12.89% 9.03%
Gross Profit $122.3M $103.9M
YoY Change 17.8% 9.84%
Gross Profit Margin 68.41% 67.48%
Selling, General & Admin $72.13M $62.08M
YoY Change 16.18% 12.65%
% of Gross Profit 58.95% 59.77%
Research & Development $34.92M $29.84M
YoY Change 17.01% 21.27%
% of Gross Profit 28.54% 28.74%
Depreciation & Amortization $5.466M $5.624M
YoY Change -2.81% -3.8%
% of Gross Profit 4.47% 5.42%
Operating Expenses $108.2M $91.95M
YoY Change 17.7% 15.05%
Operating Profit $14.13M $11.91M
YoY Change 18.61% -18.58%
Interest Expense $1.700M -$2.600M
YoY Change -165.38% 2500.0%
% of Operating Profit 12.04% -21.83%
Other Income/Expense, Net -$2.298M $0.00
YoY Change -100.0%
Pretax Income $13.49M $9.260M
YoY Change 45.71% -36.32%
Income Tax $3.093M $3.325M
% Of Pretax Income 22.92% 35.91%
Net Earnings $10.40M $5.935M
YoY Change 75.23% -39.22%
Net Earnings / Revenue 5.81% 3.86%
Basic Earnings Per Share $0.14 $0.08
Diluted Earnings Per Share $0.13 $0.08
COMMON SHARES
Basic Shares Outstanding 76.38M shares 76.40M shares
Diluted Shares Outstanding 79.24M shares 78.59M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $193.9M $225.4M
YoY Change -13.98% 1.99%
Cash & Equivalents $92.18M $127.5M
Short-Term Investments $101.7M $97.90M
Other Short-Term Assets $23.20M $13.28M
YoY Change 74.73% 55.52%
Inventory
Prepaid Expenses
Receivables $202.4M $150.9M
Other Receivables $4.900M $5.600M
Total Short-Term Assets $436.8M $408.1M
YoY Change 7.04% 15.26%
LONG-TERM ASSETS
Property, Plant & Equipment $35.94M $31.14M
YoY Change 15.43% 11.84%
Goodwill $46.72M $46.78M
YoY Change -0.11% 26.87%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.728M $3.087M
YoY Change 20.76% -2.59%
Total Long-Term Assets $169.4M $192.7M
YoY Change -12.11% 6.09%
TOTAL ASSETS
Total Short-Term Assets $436.8M $408.1M
Total Long-Term Assets $169.4M $192.7M
Total Assets $606.2M $600.8M
YoY Change 0.9% 12.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.98M $6.408M
YoY Change 86.92% 33.53%
Accrued Expenses $46.06M $35.14M
YoY Change 31.1% 49.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $248.7M $242.7M
YoY Change 2.49% 29.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.88M $17.00M
YoY Change -6.59% -5.68%
Total Long-Term Liabilities $15.88M $17.00M
YoY Change -6.59% -5.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $248.7M $242.7M
Total Long-Term Liabilities $15.88M $17.00M
Total Liabilities $283.7M $303.0M
YoY Change -6.37% 17.95%
SHAREHOLDERS EQUITY
Retained Earnings $186.9M $156.7M
YoY Change 19.27% 14.84%
Common Stock $138.8M $144.7M
YoY Change -4.08% 4.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $322.5M $297.8M
YoY Change
Total Liabilities & Shareholders Equity $606.2M $600.8M
YoY Change 0.9% 12.15%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $10.40M $5.935M
YoY Change 75.23% -39.22%
Depreciation, Depletion And Amortization $5.466M $5.624M
YoY Change -2.81% -3.8%
Cash From Operating Activities $10.00M $27.50M
YoY Change -63.64% -62.28%
INVESTING ACTIVITIES
Capital Expenditures $4.251M $3.275M
YoY Change 29.8% 166.69%
Acquisitions $255.0K $535.0K
YoY Change -52.34% -32.53%
Other Investing Activities $13.60M -$2.100M
YoY Change -747.62% 50.0%
Cash From Investing Activities $9.400M -$5.400M
YoY Change -274.07% 107.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.57M $2.427M
YoY Change 623.9% -47.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.80M -6.300M
YoY Change 214.29% -4.55%
NET CHANGE
Cash From Operating Activities 10.00M 27.50M
Cash From Investing Activities 9.400M -5.400M
Cash From Financing Activities -19.80M -6.300M
Net Change In Cash -400.0K 15.80M
YoY Change -102.53% -75.2%
FREE CASH FLOW
Cash From Operating Activities $10.00M $27.50M
Capital Expenditures $4.251M $3.275M
Free Cash Flow $5.749M $24.23M
YoY Change -76.27% -66.2%

Facts In Submission

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CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29844000
CY2015Q1 pega Revenue Percentage
RevenuePercentage
1.00 pure
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Trading Symbol
TradingSymbol
PEGA
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001013857
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2503000 shares
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.03
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
492000 shares
CY2016Q1 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 Unit
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76375000 shares
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
8642000
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
PEGASYSTEMS INC
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78878000 shares
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2016Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1376000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9284000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4251000
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
255000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2298000
CY2016Q1 us-gaap Licenses Revenue
LicensesRevenue
68345000
CY2016Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-450000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14125000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13493000
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
201000
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1398000
CY2016Q1 us-gaap Revenues
Revenues
178858000
CY2016Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2297000
CY2016Q1 us-gaap Technology Services Revenue
TechnologyServicesRevenue
57538000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-6697000
CY2016Q1 us-gaap Investment Income Net
InvestmentIncomeNet
290000
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5682000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
279000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
9005000
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2297000
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2712000
CY2016Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2605000
CY2016Q1 us-gaap Gross Profit
GrossProfit
122348000
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-7000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
286000
CY2016Q1 us-gaap Maintenance Revenue
MaintenanceRevenue
52975000
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
8193000
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11887000
CY2016Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
919000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-434000
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
61078000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
108223000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-18424000
CY2016Q1 us-gaap License Costs
LicenseCosts
1021000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2965000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
56510000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5466000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4488000
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
15890000
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
44000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11048000
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1129000
CY2016Q1 us-gaap Technology Services Costs
TechnologyServicesCosts
49574000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-23427000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
650000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-846000
CY2016Q1 us-gaap Maintenance Costs
MaintenanceCosts
5915000
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6179000
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
258000
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1398000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8935000
CY2016Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-52000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9370000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34920000
CY2016Q1 pega Fair Value Measurements Transfers Between Level One And Level Two
FairValueMeasurementsTransfersBetweenLevelOneAndLevelTwo
0
CY2016Q1 pega Marketable Debt Securities Weighted Average Remaining Maturity Period
MarketableDebtSecuritiesWeightedAverageRemainingMaturityPeriod
P18M
CY2016Q1 pega Revenue Percentage
RevenuePercentage
1.00 pure

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d144041d10q.htm Edgar Link pending
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