v3.25.1
REVENUE
 3 Months Ended
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)
20252024
U.S.$269,192 56 %$180,983 54 %
Other Americas33,741 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-Pacific57,902 12 %33,414 10 %
$475,633 100 %$330,147 100 %
Revenue streams
Three Months Ended
March 31,
(in thousands)
20252024
Pega Cloud$151,123 $130,902 
Maintenance76,368 81,001 
Consulting60,421 54,047 
Revenue recognized over time287,912 265,950 
Subscription license186,555 63,338 
Perpetual license1,166 859 
Revenue recognized at a point in time187,721 64,197 
Total revenue$475,633 $330,147 
Three Months Ended
March 31,
(in thousands)20252024
Pega Cloud$151,123 $130,902 
Maintenance76,368 81,001 
Subscription services227,491 211,903 
Subscription license186,555 63,338 
Subscription414,046 275,241 
Consulting60,421 54,047 
Perpetual license1,166 859 
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 servicesSubscription licensePerpetual licenseConsultingTotal
Pega CloudMaintenance
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 servicesSubscription licensePerpetual licenseConsultingTotal
Pega CloudMaintenance
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)
20252024
Total revenue
$475,633 $330,147 
Client B
15 %
*
*Client accounted for less than 10% of total revenues.