REVENUE

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

15. REVENUE

Geographic revenue

(Dollars in thousands)	2023				2022				2021
U.S.	$	785,029	55	%	$	763,558	57	%	$	690,133	57	%
Other Americas	85,149		6	%	102,980		8	%	61,339		5	%
United Kingdom (“U.K.”)	158,014		11	%	115,793		9	%	117,580		10	%
Europe (excluding U.K.), Middle East, and Africa	242,303		17	%	194,563		15	%	198,080		16	%
Asia-Pacific	162,121		11	%	140,951		11	%	144,521		12	%
	$	1,432,616	100	%	$	1,317,845	100	%	$	1,211,653	100	%

Revenue streams

(in thousands)	2023		2022		2021
Subscription license	$	407,625	$	366,063	$	336,248
Perpetual license	10,101		19,293		32,172
Revenue recognized at a point in time	417,726		385,356		368,420
Pega Cloud	461,328		384,271		300,966
Maintenance	331,856		317,564		320,257
Consulting	221,706		230,654		222,010
Revenue recognized over time	1,014,890		932,489		843,233
	$	1,432,616	$	1,317,845	$	1,211,653

(in thousands)	2023		2022		2021
Pega Cloud	$	461,328	$	384,271	$	300,966
Maintenance	331,856		317,564		320,257
Subscription services	793,184		701,835		621,223
Subscription license	407,625		366,063		336,248
Subscription	1,200,809		1,067,898		957,471
Consulting	221,706		230,654		222,010
Perpetual license	10,101		19,293		32,172
	$	1,432,616	$	1,317,845	$	1,211,653

Remaining performance obligations ("Backlog")

Expected future revenue from existing non-cancellable contracts:

As of December 31, 2023:

(Dollars in thousands)	Subscription services				Subscription license		Perpetual license		Consulting		Total
	Maintenance		Pega Cloud
1 year or less	$	245,271	$	446,160	$	62,070	$	2,284	$	39,810	$	795,595	54	%
1-2 years	67,720		279,474		9,138		443		2,020		358,795		25	%
2-3 years	37,142		144,453		9,789		—		2,896		194,280		13	%
Greater than 3 years	24,421		90,177		100		—		—		114,698		8	%
	$	374,554	$	960,264	$	81,097	$	2,727	$	44,726	$	1,463,368	100	%

As of December 31, 2022:

(Dollars in thousands)	Subscription services				Subscription license		Perpetual license		Consulting		Total
	Maintenance		Pega Cloud
1 year or less	$	242,073	$	379,648	$	60,668	$	5,310	$	32,374	$	720,073	53	%
1-2 years	66,207		246,195		3,803		2,253		6,371		324,829		24	%
2-3 years	26,746		143,901		1,707		—		1,647		174,001		13	%
Greater than 3 years	15,602		115,944		5,283		—		—		136,829		10	%
	$	350,628	$	885,688	$	71,461	$	7,563	$	40,392	$	1,355,732	100	%