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Pega continues accelerated growth through Q3 2021 Total ACV grows 22 percent , powered by Pega Cloud Choice • Pega subscription revenue grows 32 percent year over year • Total Backlog increases 23 percent year over year EXHIBIT 99.1 PEGA CAMBRIDGE , Mass.- October 27 , 2021 — · Pegasystems Inc. ( NASDAQ : PEGA ) , the software company that crushes business complexity , released its financial results for the third quarter of 2021 . " Sophisticated organizations are pursuing digital transformation with great energy , " said Alan Trefler , founder and CEO , Pegasystems . " Organizations know they must adapt for today's needs while preparing for the inevitable changes that will come tomorrow . In an unpredictable world , we help our clients crush business complexity with solutions built on a low - code platform and an outcome - centric approach to workflow that helps them work smarter , simpler , and faster . I'm excited about how Pega is meeting their needs with our highly differentiated offering . " " It's great to see total ACV growth of 22 percent year - over - year in Q3 2021 - once again powered by Pega Cloud Choice , " said Ken Stillwell , COO and CFO , Pegasystems . “ Our cumulative results through the first three quarters of this year demonstrate that digital transformation continues to be a top priority for our clients around the world . " Financial and performance metrics ( ¹ ) ( Dollars in thousands , except per share amounts ) Total revenue Net ( loss ) GAAP Three Months Ended September 30 , 2020 Nine Months Ended September 30 , 2021 Change 2021 2020 Change $ 256,268 $ 225,951 13 % $ 895,469 $ 718,917 25 % $ ( 56,468 ) $ ( 19,267 ) ( 193 ) % $ ( 25,794 ) $ ( 65,379 ) 61 % Net ( loss ) income - Non - GAAP $ ( 32,860 ) $ ( 26,701 ) ( 23 ) % $ 9,196 $ ( 44,905 ) Diluted ( loss ) per share - GAAP $ ( 0.69 ) $ ( 0.24 ) ( 188 ) % $ ( 0.32 ) $ ( 0.82 ) 61 % Diluted ( loss ) earnings per share - Non - GAAP $ ( 0.40 ) $ ( 0.33 ) ( 21 ) % $ 0.11 $ ( 0.56 ) * * not meaningful . Three Months Ended September 30 , Nine Months Ended September 30 , ( Dollars in thousands ) 2021 2020 Pega Cloud $ 78,369 Client Cloud 118,609 Cloud subscription $ Perpetual license 196,978 Consulting Total revenue $ 2,874 56,416 256,268 31 % $ 46 % 77 % $ 1 % 22 % 100 % $ 54,776 110,602 165,378 3,852 56,721 225,951 24 % $ 49 % 73 % $ Change 23,593 8,007 31,600 43 % $ 7 % 19 % $ 2 % 25 % 100 % $ ( 978 ) ( 25 ) % ( 305 ) 30,317 ( 1 ) % 2021 219,520 488,757 708,277 20,922 166,270 2020 25 % $ 54 % 79 % $ 147,080 391,042 20 % $ Change 72,440 49 % 55 % 97,715 25 % 538,122 75 % $ 170,155 32 % 2 % 16,568 2 % 4,354 26 % 13 % $ 895,469 19 % 100 % $ 164,227 23 % 2,043 1 % 718,917 100 % $ 176,552 25 % ( 1 ) See the Schedules at the end of this release for additional information , including a reconciliation of our Non - GAAP and GAAP measures . 1