Pegasystems, Inc. (NASDAQ:PEGA) Q3 2023 Results Conference Call October 26, 2023 8:00 AM ET

Company Participants

Peter Welburn - Vice President, Corporate Development and IR

Alan Trefler - Founder, CEO and Chairman of the Board

Kenneth Stillwell - COO and CFO

Conference Call Participants

Steve Enders - Citi

Pinjalim Bora - JPMorgan

Jake Roberge - William Blair

Kevin Kumar - Goldman Sachs

Rishi Jaluria - RBC

Raimo Lenschow - Barclays

Mark Schappel - Loop Capital Markets

Joe Meares - Truist Securities

Fred Havemeyer - Macquarie

Blair Abernethy - Rosenblatt Securities

Operator

Greetings, and welcome to the Pegasystems Third Quarter 2023 Earnings Results Conference Call. [Operator Instructions]

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Peter Welburn, Vice President, Corporate Development and IR for Pegasystems. Please go ahead.

Peter Welburn

Thank you, Priscilla, and good morning, everyone, and welcome to Pegasystems Q3 2023 Earnings Call. Before we begin, I would like to read our safe harbor statement. Certain statements contained in this presentation may be construed as forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The words expects, anticipates, intends, plans, believes, will, could, should, estimates, may, forecasts and guidance, or variations of such words and other similar expressions identify forward-looking statements, which speak only as of the date the statement was made and are based on current expectations and assumptions. Because such statements deal with future events, they are subject to various risks and uncertainties, actual results for fiscal 2023 and beyond could differ materially from the company's current expectations. Our press release announcing our Q3 2023 earnings and our SEC filings, including our most recent annual report, describe factors that could impact our results and cause them to materially differ from those expressed in forward-looking statements.

Investors should not place undue reliance on forward-looking statements, matters contained forward-looking statements may not occur. Later events, new information or other factors may cause our views to change, but we will not publicly update or revise forward-looking statements unless required by law to do so.

And with that, I will turn the call over to Alan Trefler, Founder and CEO of Pegasystems.

Alan Trefler

Thank you, Peter, and to everyone who's joined today's call. It's great to see us improve performance in an uncertain macroeconomic environment. Now more than ever, we are focused on running a business that balances growth and free cash flow. And it's especially good to see record cash flow as we come out of our subscription transition, and we're just getting started. Ken will go into more detail on our financial results in a moment.