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Pegasystems cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.6M in Q3 2026 · $442M over twelve months

Operating cash flow$6.1M
Capital spending−$4.5M
Free cash flow+$1.6M
Cash / net income0.4×
Cash conversion cycle-17 days

Analysis

In Q3 2026, Pegasystems generated $6.1M of operating cash flow and spent $4.5M on capital projects, leaving free cash flow of $1.6M. That is $50.3M less than in Q3 2025 ($51.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $463M; the largest uses were buybacks ($538M), shares issued ($72.2M), capital spending ($20.5M); besides operations, cash came from other financing ($158M), other investing ($91.9M); the cash balance rose by $51.2M.

Operating cash flow was $6.1M against net income of $14.1M — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: stock-based pay +$28.7M, deferred taxes +$4.6M, depreciation & amortization +$3.5M.

Its cash conversion cycle was -17 days (receivables 32 + inventory 0 − payables 49): suppliers fund its working capital.

Free cash flow

Pegasystems: free cash flow by quarterPegasystems: free cash flow by quarter$92.4MQ4 2024$202MQ1 2025$84.1MQ2 2025$51.8MQ3 2025$152MQ4 2025$207MQ1 2026$81.7MQ2 2026$1.6MQ3 2026
Operating cash flow less capital spending.
Pegasystems: operating cash flow against capital spendingPegasystems: operating cash flow against capital spendingOperating cash flowCapital spending$95.2M$2.8MQ4 2024$204M$1.9MQ1 2025$86.3M$2.1MQ2 2025$56.3M$4.5MQ3 2025$158M$6.0MQ4 2025$212M$5.7MQ1 2026$86.0M$4.2MQ2 2026$6.1M$4.5MQ3 2026
Latest (Q3 2026): Operating cash flow $6.1M, Capital spending $4.5M.

Capital allocation, year by year

Pegasystems: where the cash came from (up) and went (down), by fiscal yearPegasystems: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $39.1MFY2021: Capital spending −$10.5MFY2021: Acquisitions −$5.0MFY2021: Buybacks −$52.7MFY2021: Dividends −$9.8M$39.1MFY2021FY2022: Operating cash flow $22.3MFY2022: Capital spending −$35.4MFY2022: Acquisitions −$922KFY2022: Buybacks −$25.7MFY2022: Dividends −$9.8M$22.3MFY2022FY2023: Operating cash flow $218MFY2023: Net borrowing −$89.0MFY2023: Shares issued $10.8MFY2023: Capital spending −$16.8MFY2023: Dividends −$10.0M$229MFY2023FY2024: Operating cash flow $346MFY2024: Net borrowing −$33.9MFY2024: Shares issued $80.7MFY2024: Capital spending −$7.7MFY2024: Buybacks −$68.1MFY2024: Dividends −$10.2M$427MFY2024FY2025: Operating cash flow $505MFY2025: Net borrowing −$468MFY2025: Shares issued $158MFY2025: Capital spending −$14.5MFY2025: Buybacks −$500MFY2025: Dividends −$15.4M$664MFY2025
Over these 5 years operating cash flow totalled $1.1B; the largest uses were buybacks ($646M) and net borrowing ($591M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$310M
Debtnone
Net cash$310M

Pegasystems funds itself: free cash flow was $442M over the last twelve months, with $310M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Pegasystems: sources (+) and uses (−) of cash, Q3 2026Pegasystems: sources (+) and uses (−) of cash, Q3 2026Other investing$67.7MBuybacks−$65.0MShares issued$17.7MCash drawn (+) / kept (−)−$15.9MOperating cash flow$6.1MDividends−$4.9MCapital spending−$4.5MTaxes on employees’ shares−$824KExchange rates−$291K
Pegasystems: sources (+) and uses (−) of cash, TTM to Q3 2026Pegasystems: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$538MOperating cash flow$463MOther financing$158MOther investing$91.9MShares issued−$72.2MCash drawn (+) / kept (−)−$51.2MCapital spending−$20.5MDividends−$20.2MTaxes on employees’ shares−$8.6MExchange rates−$2.6M

From profit to cash

Pegasystems: net income to operating cash flow, Q3 2026Pegasystems: net income to operating cash flow, Q3 2026Net income$14.1MDepreciation & amortization$3.5MStock-based pay$28.7MDeferred taxes$4.6MGains on investments−$573KOther non-cash$100KOperating cash flow$6.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202632—49-17
Q2 202634—286
Q1 202646—1134
Q4 202539—929
Q3 202538—1127
Q2 202543—1429
Q1 202548—1038
Q4 202445—1233

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$6.1M−$4.5M−$65.0M−$4.9M—$17.7M−$15.9M$1.6M
Q2 2026$86.0M−$4.2M−$200M−$5.1M—$11.4M$85.2M$81.7M
Q1 2026$212M−$5.7M−$167M−$5.1M—$20.3M−$58.0M$207M
Q4 2025$158M−$6.0M−$105M−$5.1M—−$122M−$62.6M$152M
Q3 2025$56.3M−$4.5M−$143M−$5.2M—$44.1M$52.3M$51.8M
Q2 2025$86.3M−$2.1M−$134M−$2.6M—$71.0M$29.1M$84.1M
Q1 2025$204M−$1.9M−$117M−$2.6M−$468M$14.0M$106M$202M
Q4 2024$95.2M−$2.8M−$56.8M−$2.6M−$33.9M−$42.1M−$42.5M$92.4M

Pegasystems: income statement and cash flow

Pegasystems, Q3 2026: revenue $393M (+3% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

Pegasystems: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.