Pegasystems inc. (PEGA)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Operating activities
Net (loss)

-25,372

918

-30,338

-32,296

-28,717

16,413

-7,587

-10,409

12,200

40,595

1,288

3,702

52,963

26,778

3,301

4,536

10,400

20,958

6,325

3,104

5,935

20,104

1,882

1,504

9,765

15,561

8,710

4,703

9,069

20,409

-331

-2,267

4,057

-1,855

4,959

2,273

4,731

Adjustments to reconcile net (loss) to cash (used in) provided by operating activities
Stock-based compensation

23,175

20,667

21,845

20,047

18,350

16,289

16,408

16,056

15,109

13,384

13,489

13,932

12,508

10,187

10,818

10,881

8,935

7,049

8,091

8,645

6,269

5,484

5,268

5,158

3,295

3,156

3,000

3,281

3,432

2,884

2,784

2,986

2,852

2,306

2,322

1,865

2,535

Loss on capped call transactions

-18,592

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from exercise or vesting of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,381

1,458

822

-

1,228

1,555

971

3,765

952

993

725

2,870

936

603

1,622

30

2,617

2,934

1,077

Deferred income taxes

-9,231

-

-

-

1,455

-

-

-

-

-

-

-

-

-1,557

-1,651

-1,840

650

790

-1,364

-1,522

-3

-12,051

-946

-855

-44

-7,545

264

329

-56

5,653

206

519

-214

16,361

-1,175

225

-142

Amortization of deferred contract costs

8,497

-

-

-

8,301

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease expense

3,852

-

-

-

3,403

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and issuance costs

1,719

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets and depreciation

4,919

-29,226

16,834

27,033

6,755

-6,447

10,821

10,599

10,322

6,010

6,347

6,268

6,088

6,241

6,221

6,209

5,466

5,523

6,312

5,634

5,624

6,185

5,755

5,566

5,846

5,862

4,754

4,692

4,727

4,580

5,010

4,290

4,686

4,814

4,420

4,217

4,011

Amortization of investments

0

-

-

-

-315

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign currency transaction loss

-5,947

1,242

-1,970

2,105

-3,712

1,863

399

1,244

-1,085

-

-

-

-

6,596

1,082

306

1,376

174

-412

-968

-2,962

-1,242

-2,845

-4

322

73

661

-437

-1,890

443

438

294

-395

-311

-247

-311

-66

Other non-cash

1,374

158

133

246

-16

301

531

1,983

-1,137

14,179

-7,614

3,258

-8,440

1,535

4,423

-1,864

-2,712

307

-579

-389

-161

1,686

-444

-273

-222

1,066

-486

-1,009

-1,241

664

-1,083

-1,225

-1,713

-1,221

-114

-327

-87

Change in operating assets and liabilities, net

49,047

-

-9,171

13,942

-9,113

-

25,668

-6,758

-15,802

-

581

-32,681

47,555

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities:
Accounts receivable, unbilled revenue, and contract assets

-

-

-

-

-

-

-

-

-

-

-

-

-

53,443

6,913

-4,156

-6,697

84,204

-5,324

-16,944

299

52,840

-7,894

6,136

-57,291

70,927

-5,275

24,407

-61,743

52,602

-12,792

-14,276

8,130

20,714

-18,054

-12,431

28,221

Income taxes receivable and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,086

-6,445

18,148

201

-11,893

3,817

450

4,403

-6,615

3

5,465

-1,629

-4,477

-3,630

2,600

-1,569

-8,038

516

796

156

-15,422

6,450

-1,946

399

Accounts payable, accrued compensation, and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

18,209

2,581

5,563

-24,822

20,680

6,399

11,114

-21,621

14,804

-1,542

21,681

-21,587

11,556

4,289

13,927

-23,978

12,835

-6,338

11,708

-25,861

18,021

-6,222

4,250

-7,011

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

20,337

-6,476

-12,351

1,129

24,593

-9,303

-31,541

33,919

6,886

4,501

-18,551

18,337

30,198

-9,002

-1,645

6,811

22,040

710

-2,659

4,696

6,345

-10,145

1,172

17,223

Other long-term assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

1,328

-166

-965

-450

825

1,048

-51

201

-4,596

538

459

691

-6,984

110

-159

-211

-4,522

-2,943

-2,954

618

-9,839

3,430

298

202

Cash (used in) provided by operating activities

-18,323

-28,703

-21,182

-14,983

22,703

37,268

-8,344

19,777

55,655

44,309

28,157

53,325

32,444

19,318

8,987

1,529

10,040

12,875

15,529

11,878

27,521

5,009

24,332

1,077

72,858

-2,732

19,155

-1,766

66,046

14,495

16,557

30,301

-17,774

20,168

2,427

25,335

-8,115

Investing activities
Purchases of investments

1,490

242

685

3,273

7,224

1,317

16,782

16,191

35,204

2,031

9,031

13,334

3,322

1,355

1,672

12,749

8,193

8,756

35,442

13,384

18,120

19,288

6,685

17,917

11,630

4,003

23,955

16,911

15,779

6,868

1,576

1,281

10,479

7,560

24,328

16,335

9,026

Proceeds from maturities and called investments

0

568

-479

4,997

8,548

7,535

14,910

5,551

5,995

3,873

2,300

18,524

2,300

950

699

5,249

15,890

8,110

12,796

4,571

16,549

11,088

6,160

4,975

11,021

6,685

12,589

4,790

3,750

6,111

4,258

7,427

6,780

5,910

7,000

3,000

4,738

Sales of investments

1,424

20,469

38,972

29,965

0

-

-

-

-

-

-

-

-

-73

9,800

46,304

6,179

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

2,069

-

4,076

2,622

2,705

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

48,858

255

0

1,136

0

535

1,318

1,007

800

793

-

-

-

-

-

-

-

-

-

-

-

-

Investment in property and equipment

12,496

4,169

1,557

2,092

2,790

-

-

-

-

-

-

-

-

3,835

3,756

7,246

4,251

1,070

2,657

4,018

3,275

5,654

2,945

1,636

1,228

1,440

2,186

777

1,195

1,735

6,926

10,682

4,267

4,727

1,545

2,473

1,090

Cash (used in) investing activities

-12,562

16,626

36,238

18,676

-1,466

1,399

-3,226

-15,091

-31,278

-2,793

-10,807

2,568

-3,727

-4,313

5,071

-17,300

9,370

-1,716

-24,524

-12,831

-5,381

-15,172

-4,477

-15,378

-2,630

-24,323

-13,552

-12,898

-13,224

-2,492

-4,244

-4,536

-7,966

-9,377

-15,872

-14,761

-5,378

Financing activities
Proceeds from issuance of convertible senior notes

600,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

14,527

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of capped calls related to convertible senior notes

51,900

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for share-based compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

44

-

135

441

146

372

291

316

22

1,240

169

530

271

375

46

414

293

458

457

1,351

356

Excess tax benefits from exercise or vesting of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,381

1,458

822

-

1,228

1,555

971

3,765

952

993

725

2,870

936

603

1,622

30

2,617

2,934

1,077

Dividend payments to shareholders

2,388

2,381

2,375

2,367

2,363

2,365

2,365

2,358

2,344

2,336

2,328

2,315

2,298

2,291

2,291

2,295

2,297

2,298

2,302

2,300

2,294

2,293

2,291

1,145

1,145

-

-

-

-

2,276

1,132

1,140

1,132

1,130

1,127

1,120

1,118

Common stock repurchases for tax withholdings for net settlement of equity awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,491

2,717

1,848

2,584

1,189

1,537

1,597

1,805

3,222

6,903

-1,169

-1,611

8,041

-799

-4,923

2,072

-11,750

1,919

5,086

-1,517

Common stock repurchases

29,011

-32,701

15,199

16,413

23,224

-10,163

23,474

20,415

20,708

-32,764

6,852

16,551

13,696

1,498

6,525

1,656

17,569

5,825

9,925

4,648

2,427

3,152

3,807

3,829

4,630

3,268

1,903

3,763

3,512

1,269

1,384

1,712

814

1,375

1,376

1,052

1,032

Cash provided by (used in) financing activities

502,174

-12,317

-17,574

-18,780

-25,587

-29,796

-25,839

-22,773

-23,052

-10,189

-9,180

-18,866

-15,994

-8,685

-11,365

-11,844

-19,822

-14,997

-12,428

-6,897

-6,337

-10,016

-6,116

-4,700

-6,587

-2,625

-3,264

-4,551

-4,127

-1,041

-2,333

-2,614

-2,103

-2,791

-1,348

61

-2,234

Effect of exchange rate changes on cash and cash equivalents

-1,510

653

-878

220

295

-644

-687

-3,412

2,186

384

772

761

521

-2,109

-571

-304

-434

-414

-2,163

1,234

-2,908

-1,781

-4,305

1,782

458

1,084

2,643

-671

-2,489

326

1,430

-1,797

963

750

-587

-4

952

Net increase (decrease) in cash and cash equivalents

469,779

-23,741

-3,396

-14,867

-4,055

8,227

-38,096

-21,499

3,511

31,711

8,942

37,788

13,244

4,211

2,122

-27,919

-846

-4,252

-23,586

-6,616

12,895

-21,960

9,434

-17,219

64,099

-28,596

4,982

-19,886

46,206

11,288

11,410

21,354

-26,880

8,750

-15,380

10,631

-14,775