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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
Trade Desk (The) is the larger business by last-quarter revenue ($846.8M vs $430.0M, roughly 2.0× PEGASYSTEMS INC). Trade Desk (The) runs the higher net margin — 22.1% vs 7.6%, a 14.5% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs -9.6%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $206.5M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
PEGA vs TTD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $846.8M |
| Net Profit | $32.8M | $186.9M |
| Gross Margin | 75.2% | 80.7% |
| Operating Margin | 8.6% | 30.3% |
| Net Margin | 7.6% | 22.1% |
| Revenue YoY | -9.6% | 14.3% |
| Net Profit YoY | — | 2.6% |
| EPS (diluted) | $0.18 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $381.4M | $739.4M | ||
| Q2 25 | $384.5M | $694.0M | ||
| Q1 25 | $475.6M | $616.0M | ||
| Q4 24 | $490.8M | $741.0M | ||
| Q3 24 | $325.1M | $628.0M | ||
| Q2 24 | $351.2M | $584.5M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $186.9M | ||
| Q3 25 | $43.4M | $115.5M | ||
| Q2 25 | $30.1M | $90.1M | ||
| Q1 25 | $85.4M | $50.7M | ||
| Q4 24 | $119.1M | $182.2M | ||
| Q3 24 | $-14.4M | $94.2M | ||
| Q2 24 | $6.6M | $85.0M |
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 80.7% | ||
| Q3 25 | 72.2% | 78.1% | ||
| Q2 25 | 71.5% | 78.2% | ||
| Q1 25 | 78.5% | 76.8% | ||
| Q4 24 | 79.1% | 81.7% | ||
| Q3 24 | 70.2% | 80.5% | ||
| Q2 24 | 72.4% | 81.1% |
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 30.3% | ||
| Q3 25 | 3.8% | 21.8% | ||
| Q2 25 | 4.5% | 16.8% | ||
| Q1 25 | 26.7% | 8.8% | ||
| Q4 24 | 29.1% | 26.4% | ||
| Q3 24 | -3.6% | 17.3% | ||
| Q2 24 | 3.7% | 16.2% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 22.1% | ||
| Q3 25 | 11.4% | 15.6% | ||
| Q2 25 | 7.8% | 13.0% | ||
| Q1 25 | 18.0% | 8.2% | ||
| Q4 24 | 24.3% | 24.6% | ||
| Q3 24 | -4.4% | 15.0% | ||
| Q2 24 | 1.9% | 14.5% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $0.39 | ||
| Q3 25 | $0.24 | $0.23 | ||
| Q2 25 | $0.17 | $0.18 | ||
| Q1 25 | $0.91 | $0.10 | ||
| Q4 24 | $1.35 | $0.36 | ||
| Q3 24 | $-0.17 | $0.19 | ||
| Q2 24 | $0.07 | $0.17 |
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 | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $705.9M | $2.5B |
| Total Assets | $1.6B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $1.3B | ||
| Q3 25 | $351.4M | $1.4B | ||
| Q2 25 | $411.6M | $1.7B | ||
| Q1 25 | $371.7M | $1.7B | ||
| Q4 24 | $740.0M | $1.9B | ||
| Q3 24 | $703.0M | $1.7B | ||
| Q2 24 | $665.1M | $1.5B |
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $2.5B | ||
| Q3 25 | $596.8M | $2.6B | ||
| Q2 25 | $624.5M | $2.7B | ||
| Q1 25 | $611.3M | $2.7B | ||
| Q4 24 | $585.5M | $2.9B | ||
| Q3 24 | $473.0M | $2.6B | ||
| Q2 24 | $435.4M | $2.4B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $6.2B | ||
| Q3 25 | $1.3B | $5.9B | ||
| Q2 25 | $1.3B | $6.0B | ||
| Q1 25 | $1.3B | $5.7B | ||
| Q4 24 | $1.8B | $6.1B | ||
| Q3 24 | $1.6B | $5.5B | ||
| Q2 24 | $1.5B | $5.2B |
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 | — | $311.6M |
| Free Cash FlowOCF − Capex | $206.5M | $285.3M |
| FCF MarginFCF / Revenue | 48.0% | 33.7% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | — | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $311.6M | ||
| Q3 25 | $56.3M | $224.7M | ||
| Q2 25 | $86.3M | $165.0M | ||
| Q1 25 | $204.2M | $291.4M | ||
| Q4 24 | $95.2M | $199.4M | ||
| Q3 24 | $30.5M | $273.3M | ||
| Q2 24 | $40.1M | $81.3M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $285.3M | ||
| Q3 25 | $51.8M | $158.3M | ||
| Q2 25 | $84.1M | $119.8M | ||
| Q1 25 | $202.3M | $232.3M | ||
| Q4 24 | $92.4M | $179.2M | ||
| Q3 24 | $27.4M | $224.6M | ||
| Q2 24 | $38.8M | $59.1M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 33.7% | ||
| Q3 25 | 13.6% | 21.4% | ||
| Q2 25 | 21.9% | 17.3% | ||
| Q1 25 | 42.5% | 37.7% | ||
| Q4 24 | 18.8% | 24.2% | ||
| Q3 24 | 8.4% | 35.8% | ||
| Q2 24 | 11.1% | 10.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 3.1% | ||
| Q3 25 | 1.2% | 9.0% | ||
| Q2 25 | 0.6% | 6.5% | ||
| Q1 25 | 0.4% | 9.6% | ||
| Q4 24 | 0.6% | 2.7% | ||
| Q3 24 | 0.9% | 7.8% | ||
| Q2 24 | 0.4% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 1.67× | ||
| Q3 25 | 1.30× | 1.94× | ||
| Q2 25 | 2.87× | 1.83× | ||
| Q1 25 | 2.39× | 5.75× | ||
| Q4 24 | 0.80× | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | 6.06× | 0.96× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
