PEGA — what changed in the latest 10-Q
A section-by-section comparison of PEGA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-21 vs the prior 10-Q · 2026-04-21
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +16 | −15 | ~17 | 35 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | +1 | −2 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-21
Unprecedented changes in the AI market caused clients to delay their purchasing decisions. As a result, our ACV growth rate significantly slowed during the six months ended June 30, 2026, as compared to the same period last year. These factors may continue to adversely affect the ACV growth rate for…
As a result of the factors discussed under ACV above, our cash flow generation may continue to be adversely affected for the rest of the year.
(2) The supplemental information below identifies certain items included in operating cash flow that may affect comparability between periods.
•Other: One-time cash flow items not part of our ongoing operations.
Note: Constant currency Backlog is calculated by applying the June 30, 2025 foreign exchange rates to current period shown.
Text removed vs the prior filing · source: 10-Q · 2026-04-21
(in millions, except percentages)March 31, 2025March 31, 2026
(2) The supplemental information discloses items that affect our cash flows and are considered by management not to be representative of our core business operations and ongoing operational performance.
(in millions, except percentages)March 31, 2025March 31, 2026
Note: Constant currency Backlog is calculated by applying the March 31, 2025 foreign exchange rates to current period shown.
•The decrease in subscription license revenue in the three months ended March 31, 2026 was primarily due to several large multi-year contracts recognized in revenue in the three months ended March 31, 2025.
Other information
Text added vs the prior filing · source: 10-Q · 2026-07-21
Other than as disclosed above, during the three months ended June 30, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
Text removed vs the prior filing · source: 10-Q · 2026-04-21
On March 16, 2026, Leon Trefler, our Chief of Clients and Markets, entered into a Rule 10b5-1 trading arrangement that provides for the sale of 36,000 shares of our common stock. The arrangement will terminate on May 31, 2027, subject to early termination for certain specified events set forth in th…
Other than as disclosed above, during the three months ended March 31, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice