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REVENUE | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | NOTE 13. REVENUE Geographic revenue Revenues by geography are determined based on client location:
| Three Months Ended March 31, |  |
(Dollars in thousands) | 2025 |  | 2024 |  |  |  |
U.S. | $ | 269,192 |  | 56 | % |  | $ | 180,983 |  | 54 | % |  |  |  |  |  |
Other Americas | 33,741 |  | 7 | % |  | 21,786 |  | 7 | % |  |  |  |  |  |
United Kingdom (“U.K.”) | 40,742 |  | 9 | % |  | 32,117 |  | 10 | % |  |  |  |  |  |
Europe (excluding U.K.), Middle East, and Africa | 74,056 |  | 16 | % |  | 61,847 |  | 19 | % |  |  |  |  |  |
Asia-Pacific | 57,902 |  | 12 | % |  | 33,414 |  | 10 | % |  |  |  |  |  |
| $ | 475,633 |  | 100 | % |  | $ | 330,147 |  | 100 | % |  |  |  |  |  |
Revenue streams
| Three Months Ended March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Pega Cloud | $ | 151,123 |  |  | $ | 130,902 |  |  |  |  |
Maintenance | 76,368 |  |  | 81,001 |  |  |  |  |
Consulting | 60,421 |  |  | 54,047 |  |  |  |  |
Revenue recognized over time | 287,912 |  |  | 265,950 |  |  |  |  |
Subscription license | 186,555 |  |  | 63,338 |  |  |  |  |
Perpetual license | 1,166 |  |  | 859 |  |  |  |  |
Revenue recognized at a point in time | 187,721 |  |  | 64,197 |  |  |  |  |
Total revenue | $ | 475,633 |  |  | $ | 330,147 |  |  |  |  |
| Three Months Ended March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Pega Cloud | $ | 151,123 |  |  | $ | 130,902 |  |  |  |  |
Maintenance | 76,368 |  |  | 81,001 |  |  |  |  |
Subscription services | 227,491 |  |  | 211,903 |  |  |  |  |
Subscription license | 186,555 |  |  | 63,338 |  |  |  |  |
Subscription | 414,046 |  |  | 275,241 |  |  |  |  |
Consulting | 60,421 |  |  | 54,047 |  |  |  |  |
Perpetual license | 1,166 |  |  | 859 |  |  |  |  |
Total revenue | $ | 475,633 |  |  | $ | 330,147 |  |  |  |  |
Remaining performance obligations ("Backlog") Expected future revenue from existing non-cancellable contracts: As of March 31, 2025:
(Dollars in thousands) | Subscription services |  | Subscription license |  | Perpetual license |  | Consulting |  | Total
Pega Cloud |  | Maintenance |  |  |  |
1 year or less | $ | 572,341 |  |  | $ | 229,180 |  |  | $ | 33,202 |  |  | $ | 317 |  |  | $ | 45,320 |  |  | $ | 880,360 |  | 50 | %
1-2 years | 331,572 |  |  | 73,500 |  |  | 3,718 |  |  | — |  |  | 2,291 |  |  | 411,081 |  | 24 | %
2-3 years | 161,259 |  |  | 37,779 |  |  | 731 |  |  | — |  |  | 144 |  |  | 199,913 |  | 12 | %
Greater than 3 years | 185,939 |  |  | 43,939 |  |  | 7,215 |  |  | — |  |  | 52 |  |  | 237,145 |  | 14 | %
| $ | 1,251,111 |  |  | $ | 384,398 |  |  | $ | 44,866 |  |  | $ | 317 |  |  | $ | 47,807 |  |  | $ | 1,728,499 |  | 100 | %
As of March 31, 2024:
(Dollars in thousands) | Subscription services |  | Subscription license |  | Perpetual license |  | Consulting |  | Total
Pega Cloud |  | Maintenance |  |  |  |
1 year or less | $ | 461,928 |  |  | $ | 225,598 |  |  | $ | 33,985 |  |  | $ | 2,727 |  |  | $ | 34,716 |  |  | $ | 758,954 |  | 53 | %
1-2 years | 292,787 |  |  | 65,605 |  |  | 10,008 |  |  | — |  |  | 1,604 |  |  | 370,004 |  | 26 | %
2-3 years | 149,797 |  |  | 32,307 |  |  | 2,903 |  |  | — |  |  | 2,428 |  |  | 187,435 |  | 13 | %
Greater than 3 years | 86,601 |  |  | 21,650 |  |  | 98 |  |  | — |  |  | — |  |  | 108,349 |  | 8 | %
| $ | 991,113 |  |  | $ | 345,160 |  |  | $ | 46,994 |  |  | $ | 2,727 |  |  | $ | 38,748 |  |  | $ | 1,424,742 |  | 100 | %
Major Clients Clients accounting for 10% or more of the Company’s revenue:
| Three Months Ended March 31, |  |
(Dollars in thousands) | 2025 |  | 2024 |  |  |  |
Total revenue | $ | 475,633 |  |  | $ | 330,147 |  |  |  |  |
Client B | 15 | % |  | * |  |  |  |
*Client accounted for less than 10% of total revenues.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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