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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $430.0M, roughly 3.8× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 6.2%, a 1.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 10.7%).
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.
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
PEGA vs TOST — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $1.6B |
| Net Profit | $32.8M | $101.0M |
| Gross Margin | 75.2% | 25.9% |
| Operating Margin | 8.6% | 5.2% |
| Net Margin | 7.6% | 6.2% |
| Revenue YoY | -9.6% | 22.0% |
| Net Profit YoY | -61.6% | 215.6% |
| EPS (diluted) | $0.18 | $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 | $504.3M | $1.6B | ||
| Q3 25 | $381.4M | $1.6B | ||
| Q2 25 | $384.5M | $1.6B | ||
| Q1 25 | $475.6M | $1.3B | ||
| Q4 24 | $490.8M | $1.3B | ||
| Q3 24 | $325.1M | $1.3B | ||
| Q2 24 | $351.2M | $1.2B |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $101.0M | ||
| Q3 25 | $43.4M | $105.0M | ||
| Q2 25 | $30.1M | $80.0M | ||
| Q1 25 | $85.4M | $56.0M | ||
| Q4 24 | $119.1M | $32.0M | ||
| Q3 24 | $-14.4M | $56.0M | ||
| Q2 24 | $6.6M | $14.0M |
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 25.9% | ||
| Q3 25 | 72.2% | 26.5% | ||
| Q2 25 | 71.5% | 25.3% | ||
| Q1 25 | 78.5% | 25.9% | ||
| Q4 24 | 79.1% | 24.9% | ||
| Q3 24 | 70.2% | 24.7% | ||
| Q2 24 | 72.4% | 23.0% |
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 5.2% | ||
| Q3 25 | 3.8% | 5.1% | ||
| Q2 25 | 4.5% | 5.2% | ||
| Q1 25 | 26.7% | 3.2% | ||
| Q4 24 | 29.1% | 2.5% | ||
| Q3 24 | -3.6% | 2.6% | ||
| Q2 24 | 3.7% | 0.4% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 6.2% | ||
| Q3 25 | 11.4% | 6.4% | ||
| Q2 25 | 7.8% | 5.2% | ||
| Q1 25 | 18.0% | 4.2% | ||
| Q4 24 | 24.3% | 2.4% | ||
| Q3 24 | -4.4% | 4.3% | ||
| Q2 24 | 1.9% | 1.1% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $0.18 | ||
| Q3 25 | $0.24 | $0.16 | ||
| Q2 25 | $0.17 | $0.13 | ||
| Q1 25 | $0.91 | $0.09 | ||
| Q4 24 | $1.35 | $0.09 | ||
| Q3 24 | $-0.17 | $0.07 | ||
| Q2 24 | $0.07 | $0.02 |
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 | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $705.9M | $2.1B |
| Total Assets | $1.6B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $1.4B | ||
| Q3 25 | $351.4M | $1.4B | ||
| Q2 25 | $411.6M | $1.2B | ||
| Q1 25 | $371.7M | $1.0B | ||
| Q4 24 | $740.0M | $903.0M | ||
| Q3 24 | $703.0M | $761.0M | ||
| Q2 24 | $665.1M | $691.0M |
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $2.1B | ||
| Q3 25 | $596.8M | $2.0B | ||
| Q2 25 | $624.5M | $1.8B | ||
| Q1 25 | $611.3M | $1.7B | ||
| Q4 24 | $585.5M | $1.5B | ||
| Q3 24 | $473.0M | $1.4B | ||
| Q2 24 | $435.4M | $1.3B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.3B | $3.0B | ||
| Q2 25 | $1.3B | $2.8B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.6B | $2.2B | ||
| Q2 24 | $1.5B | $2.2B |
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 | — | $194.0M |
| Free Cash FlowOCF − Capex | $206.5M | $178.0M |
| FCF MarginFCF / Revenue | 48.0% | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $194.0M | ||
| Q3 25 | $56.3M | $165.0M | ||
| Q2 25 | $86.3M | $223.0M | ||
| Q1 25 | $204.2M | $79.0M | ||
| Q4 24 | $95.2M | $147.0M | ||
| Q3 24 | $30.5M | $109.0M | ||
| Q2 24 | $40.1M | $124.0M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $178.0M | ||
| Q3 25 | $51.8M | $153.0M | ||
| Q2 25 | $84.1M | $208.0M | ||
| Q1 25 | $202.3M | $69.0M | ||
| Q4 24 | $92.4M | $134.0M | ||
| Q3 24 | $27.4M | $97.0M | ||
| Q2 24 | $38.8M | $108.0M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 10.9% | ||
| Q3 25 | 13.6% | 9.4% | ||
| Q2 25 | 21.9% | 13.4% | ||
| Q1 25 | 42.5% | 5.2% | ||
| Q4 24 | 18.8% | 10.0% | ||
| Q3 24 | 8.4% | 7.4% | ||
| Q2 24 | 11.1% | 8.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 1.0% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.6% | 1.0% | ||
| Q1 25 | 0.4% | 0.7% | ||
| Q4 24 | 0.6% | 1.0% | ||
| Q3 24 | 0.9% | 0.9% | ||
| Q2 24 | 0.4% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 1.92× | ||
| Q3 25 | 1.30× | 1.57× | ||
| Q2 25 | 2.87× | 2.79× | ||
| Q1 25 | 2.39× | 1.41× | ||
| Q4 24 | 0.80× | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 6.06× | 8.86× |
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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
