Pega’s cloud contracts grow 20% as execution problems weigh on overall momentum
Pegasystems ($PEGA) reported total annual contract value of $1.653 billion, up 6% as reported and 7% at constant currency. Pega Cloud annual contract value increased 20% and represented 59% of the total. Quarterly revenue grew 3% to $393.4 million, but GAAP net income fell to $14.1 million from $43.4 million a year earlier, underscoring a divergence between cloud expansion and reported profit. Management highlighted go-to-market execution challenges and closer customer scrutiny of AI spending, w
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