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Side-by-side financial comparison of Paymentus Holdings, Inc. (PAY) 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 $330.5M, roughly 1.3× Paymentus Holdings, Inc.). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 6.3%, a 1.4% gap on every dollar of revenue. On growth, Paymentus Holdings, Inc. posted the faster year-over-year revenue change (28.1% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $45.0M). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs 10.7%).
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
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.
PAY vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $330.5M | $430.0M |
| Net Profit | $20.7M | $32.8M |
| Gross Margin | 25.4% | 75.2% |
| Operating Margin | 7.3% | 8.6% |
| Net Margin | 6.3% | 7.6% |
| Revenue YoY | 28.1% | -9.6% |
| Net Profit YoY | 57.2% | -61.6% |
| EPS (diluted) | $0.16 | $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 | $330.5M | $504.3M | ||
| Q3 25 | $310.7M | $381.4M | ||
| Q2 25 | $280.1M | $384.5M | ||
| Q1 25 | $275.2M | $475.6M | ||
| Q4 24 | $257.9M | $490.8M | ||
| Q3 24 | $231.6M | $325.1M | ||
| Q2 24 | $197.4M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $20.7M | $234.6M | ||
| Q3 25 | $17.7M | $43.4M | ||
| Q2 25 | $14.7M | $30.1M | ||
| Q1 25 | $13.8M | $85.4M | ||
| Q4 24 | $13.1M | $119.1M | ||
| Q3 24 | $14.4M | $-14.4M | ||
| Q2 24 | $9.4M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 25.4% | 79.5% | ||
| Q3 25 | 24.1% | 72.2% | ||
| Q2 25 | 25.5% | 71.5% | ||
| Q1 25 | 24.0% | 78.5% | ||
| Q4 24 | 25.6% | 79.1% | ||
| Q3 24 | 26.2% | 70.2% | ||
| Q2 24 | 29.8% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 7.3% | 20.7% | ||
| Q3 25 | 6.4% | 3.8% | ||
| Q2 25 | 5.7% | 4.5% | ||
| Q1 25 | 5.7% | 26.7% | ||
| Q4 24 | 5.5% | 29.1% | ||
| Q3 24 | 5.2% | -3.6% | ||
| Q2 24 | 5.2% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 6.3% | 46.5% | ||
| Q3 25 | 5.7% | 11.4% | ||
| Q2 25 | 5.3% | 7.8% | ||
| Q1 25 | 5.0% | 18.0% | ||
| Q4 24 | 5.1% | 24.3% | ||
| Q3 24 | 6.2% | -4.4% | ||
| Q2 24 | 4.7% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.16 | $0.81 | ||
| Q3 25 | $0.14 | $0.24 | ||
| Q2 25 | $0.11 | $0.17 | ||
| Q1 25 | $0.11 | $0.91 | ||
| Q4 24 | $0.11 | $1.35 | ||
| Q3 24 | $0.11 | $-0.17 | ||
| Q2 24 | $0.07 | $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 | $320.9M | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $560.4M | $705.9M |
| Total Assets | $667.9M | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $320.9M | $425.8M | ||
| Q3 25 | $287.9M | $351.4M | ||
| Q2 25 | $266.4M | $411.6M | ||
| Q1 25 | $245.8M | $371.7M | ||
| Q4 24 | $205.9M | $740.0M | ||
| Q3 24 | $187.5M | $703.0M | ||
| Q2 24 | $188.8M | $665.1M |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $560.4M | $787.4M | ||
| Q3 25 | $537.4M | $596.8M | ||
| Q2 25 | $516.7M | $624.5M | ||
| Q1 25 | $500.4M | $611.3M | ||
| Q4 24 | $485.6M | $585.5M | ||
| Q3 24 | $468.8M | $473.0M | ||
| Q2 24 | $451.6M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $667.9M | $1.6B | ||
| Q3 25 | $644.4M | $1.3B | ||
| Q2 25 | $609.5M | $1.3B | ||
| Q1 25 | $590.9M | $1.3B | ||
| Q4 24 | $576.2M | $1.8B | ||
| Q3 24 | $552.9M | $1.6B | ||
| Q2 24 | $527.7M | $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 | $45.1M | — |
| Free Cash FlowOCF − Capex | $45.0M | $206.5M |
| FCF MarginFCF / Revenue | 13.6% | 48.0% |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | 2.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.8M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $45.1M | $158.4M | ||
| Q3 25 | $35.1M | $56.3M | ||
| Q2 25 | $31.5M | $86.3M | ||
| Q1 25 | $50.4M | $204.2M | ||
| Q4 24 | $27.9M | $95.2M | ||
| Q3 24 | $6.7M | $30.5M | ||
| Q2 24 | $18.0M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $45.0M | $152.4M | ||
| Q3 25 | $35.0M | $51.8M | ||
| Q2 25 | $31.4M | $84.1M | ||
| Q1 25 | $50.4M | $202.3M | ||
| Q4 24 | $27.8M | $92.4M | ||
| Q3 24 | $6.7M | $27.4M | ||
| Q2 24 | $17.8M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 13.6% | 30.2% | ||
| Q3 25 | 11.3% | 13.6% | ||
| Q2 25 | 11.2% | 21.9% | ||
| Q1 25 | 18.3% | 42.5% | ||
| Q4 24 | 10.8% | 18.8% | ||
| Q3 24 | 2.9% | 8.4% | ||
| Q2 24 | 9.0% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 1.2% | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 0.0% | 0.6% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.0% | 0.6% | ||
| Q3 24 | 0.0% | 0.9% | ||
| Q2 24 | 0.1% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.18× | 0.68× | ||
| Q3 25 | 1.98× | 1.30× | ||
| Q2 25 | 2.14× | 2.87× | ||
| Q1 25 | 3.65× | 2.39× | ||
| Q4 24 | 2.12× | 0.80× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 1.93× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
