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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $247.1M, roughly 1.7× ANI PHARMACEUTICALS INC). ANI PHARMACEUTICALS INC runs the higher net margin — 11.1% vs 7.6%, a 3.5% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 10.7%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
ANIP vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $430.0M |
| Net Profit | $27.5M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | 14.1% | 8.6% |
| Net Margin | 11.1% | 7.6% |
| Revenue YoY | 29.6% | -9.6% |
| Net Profit YoY | 367.5% | — |
| EPS (diluted) | $1.14 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $430.0M | ||
| Q4 25 | $247.1M | $504.3M | ||
| Q3 25 | $227.8M | $381.4M | ||
| Q2 25 | $211.4M | $384.5M | ||
| Q1 25 | $197.1M | $475.6M | ||
| Q4 24 | $190.6M | $490.8M | ||
| Q3 24 | $148.3M | $325.1M | ||
| Q2 24 | $138.0M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $27.5M | $234.6M | ||
| Q3 25 | $26.6M | $43.4M | ||
| Q2 25 | $8.5M | $30.1M | ||
| Q1 25 | $15.7M | $85.4M | ||
| Q4 24 | $-10.3M | $119.1M | ||
| Q3 24 | $-24.2M | $-14.4M | ||
| Q2 24 | $-2.3M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 14.1% | 20.7% | ||
| Q3 25 | 15.9% | 3.8% | ||
| Q2 25 | 6.6% | 4.5% | ||
| Q1 25 | 13.3% | 26.7% | ||
| Q4 24 | -2.3% | 29.1% | ||
| Q3 24 | -13.8% | -3.6% | ||
| Q2 24 | 3.7% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 11.1% | 46.5% | ||
| Q3 25 | 11.7% | 11.4% | ||
| Q2 25 | 4.0% | 7.8% | ||
| Q1 25 | 8.0% | 18.0% | ||
| Q4 24 | -5.4% | 24.3% | ||
| Q3 24 | -16.3% | -4.4% | ||
| Q2 24 | -1.7% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $1.14 | $0.81 | ||
| Q3 25 | $1.13 | $0.24 | ||
| Q2 25 | $0.36 | $0.17 | ||
| Q1 25 | $0.69 | $0.91 | ||
| Q4 24 | $-0.45 | $1.35 | ||
| Q3 24 | $-1.27 | $-0.17 | ||
| Q2 24 | $-0.14 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $285.6M | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $705.9M |
| Total Assets | $1.4B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $285.6M | $425.8M | ||
| Q3 25 | $262.6M | $351.4M | ||
| Q2 25 | $217.8M | $411.6M | ||
| Q1 25 | $149.8M | $371.7M | ||
| Q4 24 | $144.9M | $740.0M | ||
| Q3 24 | $145.0M | $703.0M | ||
| Q2 24 | $240.1M | $665.1M |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $540.7M | $787.4M | ||
| Q3 25 | $505.8M | $596.8M | ||
| Q2 25 | $436.8M | $624.5M | ||
| Q1 25 | $418.6M | $611.3M | ||
| Q4 24 | $403.7M | $585.5M | ||
| Q3 24 | $405.9M | $473.0M | ||
| Q2 24 | $455.8M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.4B | $1.6B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $920.8M | $1.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $30.4M | — |
| Free Cash FlowOCF − Capex | $29.1M | $206.5M |
| FCF MarginFCF / Revenue | 11.8% | 48.0% |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | 1.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.4M | $158.4M | ||
| Q3 25 | $44.1M | $56.3M | ||
| Q2 25 | $75.8M | $86.3M | ||
| Q1 25 | $35.0M | $204.2M | ||
| Q4 24 | $15.9M | $95.2M | ||
| Q3 24 | $12.5M | $30.5M | ||
| Q2 24 | $17.4M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $29.1M | $152.4M | ||
| Q3 25 | $38.0M | $51.8M | ||
| Q2 25 | $71.8M | $84.1M | ||
| Q1 25 | $32.5M | $202.3M | ||
| Q4 24 | $13.5M | $92.4M | ||
| Q3 24 | $7.7M | $27.4M | ||
| Q2 24 | $13.0M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 11.8% | 30.2% | ||
| Q3 25 | 16.7% | 13.6% | ||
| Q2 25 | 34.0% | 21.9% | ||
| Q1 25 | 16.5% | 42.5% | ||
| Q4 24 | 7.1% | 18.8% | ||
| Q3 24 | 5.2% | 8.4% | ||
| Q2 24 | 9.4% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 1.2% | ||
| Q3 25 | 2.7% | 1.2% | ||
| Q2 25 | 1.9% | 0.6% | ||
| Q1 25 | 1.3% | 0.4% | ||
| Q4 24 | 1.3% | 0.6% | ||
| Q3 24 | 3.2% | 0.9% | ||
| Q2 24 | 3.2% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 0.68× | ||
| Q3 25 | 1.66× | 1.30× | ||
| Q2 25 | 8.87× | 2.87× | ||
| Q1 25 | 2.23× | 2.39× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
