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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) and QuidelOrtho Corp (QDEL). Click either name above to swap in a different company.
QuidelOrtho Corp is the larger business by last-quarter revenue ($699.9M vs $430.0M, roughly 1.6× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs -104.7%, a 112.3% gap on every dollar of revenue. On growth, QuidelOrtho Corp posted the faster year-over-year revenue change (-3.7% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-94.7M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% CAGR vs -2.9%).
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.
QuidelOrtho Corporation is an American manufacturer of diagnostic healthcare products that are sold worldwide.
PEGA vs QDEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $699.9M |
| Net Profit | $32.8M | $-733.0M |
| Gross Margin | 75.2% | — |
| Operating Margin | 8.6% | -100.7% |
| Net Margin | 7.6% | -104.7% |
| Revenue YoY | -9.6% | -3.7% |
| Net Profit YoY | -61.6% | -3583.4% |
| EPS (diluted) | $0.18 | $-10.78 |
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 | $504.3M | — | ||
| Q3 25 | $381.4M | $699.9M | ||
| Q2 25 | $384.5M | $613.9M | ||
| Q1 25 | $475.6M | $692.8M | ||
| Q4 24 | $490.8M | $707.8M | ||
| Q3 24 | $325.1M | $727.1M | ||
| Q2 24 | $351.2M | $637.0M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | — | ||
| Q3 25 | $43.4M | $-733.0M | ||
| Q2 25 | $30.1M | $-255.4M | ||
| Q1 25 | $85.4M | $-12.7M | ||
| Q4 24 | $119.1M | $-178.4M | ||
| Q3 24 | $-14.4M | $-19.9M | ||
| Q2 24 | $6.6M | $-147.7M |
| 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 | 20.7% | — | ||
| Q3 25 | 3.8% | -100.7% | ||
| Q2 25 | 4.5% | -29.4% | ||
| Q1 25 | 26.7% | 4.7% | ||
| Q4 24 | 29.1% | -14.2% | ||
| Q3 24 | -3.6% | 2.1% | ||
| Q2 24 | 3.7% | -18.4% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | — | ||
| Q3 25 | 11.4% | -104.7% | ||
| Q2 25 | 7.8% | -41.6% | ||
| Q1 25 | 18.0% | -1.8% | ||
| Q4 24 | 24.3% | -25.2% | ||
| Q3 24 | -4.4% | -2.7% | ||
| Q2 24 | 1.9% | -23.2% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | — | ||
| Q3 25 | $0.24 | $-10.78 | ||
| Q2 25 | $0.17 | $-3.77 | ||
| Q1 25 | $0.91 | $-0.19 | ||
| Q4 24 | $1.35 | $-2.54 | ||
| Q3 24 | $-0.17 | $-0.30 | ||
| Q2 24 | $0.07 | $-2.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $270.0M | $98.1M |
| Total DebtLower is stronger | — | $2.5B |
| Stockholders' EquityBook value | $705.9M | $2.0B |
| Total Assets | $1.6B | $5.7B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | — | ||
| Q3 25 | $351.4M | $98.1M | ||
| Q2 25 | $411.6M | $151.7M | ||
| Q1 25 | $371.7M | $127.1M | ||
| Q4 24 | $740.0M | $98.3M | ||
| Q3 24 | $703.0M | $143.7M | ||
| Q2 24 | $665.1M | $107.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | — | ||
| Q3 25 | $596.8M | $2.0B | ||
| Q2 25 | $624.5M | $2.8B | ||
| Q1 25 | $611.3M | $3.0B | ||
| Q4 24 | $585.5M | $3.0B | ||
| Q3 24 | $473.0M | $3.2B | ||
| Q2 24 | $435.4M | $3.2B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.3B | $5.7B | ||
| Q2 25 | $1.3B | $6.4B | ||
| Q1 25 | $1.3B | $6.5B | ||
| Q4 24 | $1.8B | $6.4B | ||
| Q3 24 | $1.6B | $6.8B | ||
| Q2 24 | $1.5B | $6.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.70× |
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 | — | $-45.5M |
| Free Cash FlowOCF − Capex | $206.5M | $-94.7M |
| FCF MarginFCF / Revenue | 48.0% | -13.5% |
| Capex IntensityCapex / Revenue | — | 7.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $-153.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | — | ||
| Q3 25 | $56.3M | $-45.5M | ||
| Q2 25 | $86.3M | $-46.8M | ||
| Q1 25 | $204.2M | $65.6M | ||
| Q4 24 | $95.2M | $63.7M | ||
| Q3 24 | $30.5M | $117.9M | ||
| Q2 24 | $40.1M | $-97.9M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | — | ||
| Q3 25 | $51.8M | $-94.7M | ||
| Q2 25 | $84.1M | $-84.3M | ||
| Q1 25 | $202.3M | $9.4M | ||
| Q4 24 | $92.4M | $16.5M | ||
| Q3 24 | $27.4M | $71.4M | ||
| Q2 24 | $38.8M | $-133.2M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | — | ||
| Q3 25 | 13.6% | -13.5% | ||
| Q2 25 | 21.9% | -13.7% | ||
| Q1 25 | 42.5% | 1.4% | ||
| Q4 24 | 18.8% | 2.3% | ||
| Q3 24 | 8.4% | 9.8% | ||
| Q2 24 | 11.1% | -20.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.2% | 7.0% | ||
| Q2 25 | 0.6% | 6.1% | ||
| Q1 25 | 0.4% | 8.1% | ||
| Q4 24 | 0.6% | 6.7% | ||
| Q3 24 | 0.9% | 6.4% | ||
| Q2 24 | 0.4% | 5.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 2.87× | — | ||
| Q1 25 | 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
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
QDEL
| Labs | $373.8M | 53% |
| Point Of Care | $164.6M | 24% |
| Immunohematology | $142.0M | 20% |
| Donor Screening | $14.7M | 2% |
| Molecular Diagnostics | $4.8M | 1% |
| Collaborative Arrangement Transaction With Party To Collaborative Arrangement | $2.1M | 0% |
