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PEGASYSTEMS INC（PEGA）与SOUNDHOUND AI, INC.（SOUN）财务数据对比。点击上方公司名可切换其他公司
PEGASYSTEMS INC的季度营收约是SOUNDHOUND AI, INC.的7.8倍（$430.0M vs $55.1M），SOUNDHOUND AI, INC.净利率更高（72.8% vs 7.6%，领先65.1%），SOUNDHOUND AI, INC.同比增速更快（59.4% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $-22.3M），过去两年SOUNDHOUND AI, INC.的营收复合增速更高（117.9% vs 10.7%）
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
SoundHound AI是总部位于美国加利福尼亚州圣克拉拉的智能语音与音乐识别技术企业，前身为2005年成立的Melodis，2010年更名为SoundHound Inc.，2022年正式定名SoundHound AI，深耕语音交互、音频识别相关技术研发与商用落地。
PEGA vs SOUN — 直观对比
营收规模更大
PEGA
是对方的7.8倍
$55.1M
营收增速更快
SOUN
高出69.0%
-9.6%
净利率更高
SOUN
高出65.1%
7.6%
自由现金流更多
PEGA
多$228.8M
$-22.3M
两年增速更快
SOUN
近两年复合增速
10.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.0M | $55.1M |
| 净利润 | $32.8M | $40.1M |
| 毛利率 | 75.2% | 47.9% |
| 营业利润率 | 8.6% | 77.3% |
| 净利率 | 7.6% | 72.8% |
| 营收同比 | -9.6% | 59.4% |
| 净利润同比 | -61.6% | 115.5% |
| 每股收益（稀释后） | $0.18 | $-0.13 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PEGASOUN
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $55.1M | ||
| Q3 25 | $381.4M | $42.0M | ||
| Q2 25 | $384.5M | $42.7M | ||
| Q1 25 | $475.6M | $29.1M | ||
| Q4 24 | $490.8M | $34.5M | ||
| Q3 24 | $325.1M | $25.1M | ||
| Q2 24 | $351.2M | $13.5M |
净利润PEGASOUN
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $40.1M | ||
| Q3 25 | $43.4M | $-109.3M | ||
| Q2 25 | $30.1M | $-74.7M | ||
| Q1 25 | $85.4M | $129.9M | ||
| Q4 24 | $119.1M | $-258.6M | ||
| Q3 24 | $-14.4M | $-21.8M | ||
| Q2 24 | $6.6M | $-37.3M |
毛利率PEGASOUN
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 47.9% | ||
| Q3 25 | 72.2% | 42.6% | ||
| Q2 25 | 71.5% | 39.0% | ||
| Q1 25 | 78.5% | 36.5% | ||
| Q4 24 | 79.1% | 39.9% | ||
| Q3 24 | 70.2% | 48.6% | ||
| Q2 24 | 72.4% | 63.0% |
营业利润率PEGASOUN
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 77.3% | ||
| Q3 25 | 3.8% | -275.6% | ||
| Q2 25 | 4.5% | -182.9% | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 29.1% | -744.2% | ||
| Q3 24 | -3.6% | -134.6% | ||
| Q2 24 | 3.7% | -163.3% |
净利率PEGASOUN
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 72.8% | ||
| Q3 25 | 11.4% | -259.9% | ||
| Q2 25 | 7.8% | -175.1% | ||
| Q1 25 | 18.0% | 446.1% | ||
| Q4 24 | 24.3% | -748.6% | ||
| Q3 24 | -4.4% | -86.7% | ||
| Q2 24 | 1.9% | -277.2% |
每股收益（稀释后）PEGASOUN
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $-0.13 | ||
| Q3 25 | $0.24 | $-0.27 | ||
| Q2 25 | $0.17 | $-0.19 | ||
| Q1 25 | $0.91 | $0.31 | ||
| Q4 24 | $1.35 | $-0.75 | ||
| Q3 24 | $-0.17 | $-0.06 | ||
| Q2 24 | $0.07 | $-0.11 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $270.0M | $248.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $705.9M | $463.8M |
| 总资产 | $1.6B | $688.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PEGASOUN
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $248.5M | ||
| Q3 25 | $351.4M | $268.9M | ||
| Q2 25 | $411.6M | $230.3M | ||
| Q1 25 | $371.7M | $245.8M | ||
| Q4 24 | $740.0M | $198.2M | ||
| Q3 24 | $703.0M | $135.6M | ||
| Q2 24 | $665.1M | $200.2M |
总债务PEGASOUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PEGASOUN
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $463.8M | ||
| Q3 25 | $596.8M | $399.2M | ||
| Q2 25 | $624.5M | $359.8M | ||
| Q1 25 | $611.3M | $397.0M | ||
| Q4 24 | $585.5M | $182.7M | ||
| Q3 24 | $473.0M | $296.0M | ||
| Q2 24 | $435.4M | $223.9M |
总资产PEGASOUN
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $688.2M | ||
| Q3 25 | $1.3B | $702.2M | ||
| Q2 25 | $1.3B | $579.5M | ||
| Q1 25 | $1.3B | $587.5M | ||
| Q4 24 | $1.8B | $554.0M | ||
| Q3 24 | $1.6B | $499.7M | ||
| Q2 24 | $1.5B | $266.7M |
负债/权益比PEGASOUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-21.9M |
| 自由现金流经营现金流 - 资本支出 | $206.5M | $-22.3M |
| 自由现金流率自由现金流/营收 | 48.0% | -40.4% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | — | -0.55× |
| 过去12个月自由现金流最近4个季度 | $494.9M | $-99.1M |
8季度趋势，按日历期对齐
经营现金流PEGASOUN
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $-21.9M | ||
| Q3 25 | $56.3M | $-32.7M | ||
| Q2 25 | $86.3M | $-24.5M | ||
| Q1 25 | $204.2M | $-19.2M | ||
| Q4 24 | $95.2M | $-33.1M | ||
| Q3 24 | $30.5M | $-35.3M | ||
| Q2 24 | $40.1M | $-18.5M |
自由现金流PEGASOUN
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $-22.3M | ||
| Q3 25 | $51.8M | $-32.8M | ||
| Q2 25 | $84.1M | $-24.7M | ||
| Q1 25 | $202.3M | $-19.3M | ||
| Q4 24 | $92.4M | $-33.2M | ||
| Q3 24 | $27.4M | $-35.5M | ||
| Q2 24 | $38.8M | $-18.7M |
自由现金流率PEGASOUN
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | -40.4% | ||
| Q3 25 | 13.6% | -78.1% | ||
| Q2 25 | 21.9% | -57.8% | ||
| Q1 25 | 42.5% | -66.4% | ||
| Q4 24 | 18.8% | -96.1% | ||
| Q3 24 | 8.4% | -141.6% | ||
| Q2 24 | 11.1% | -139.1% |
资本支出强度PEGASOUN
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.7% | ||
| Q3 25 | 1.2% | 0.4% | ||
| Q2 25 | 0.6% | 0.4% | ||
| Q1 25 | 0.4% | 0.6% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 0.9% | 0.9% | ||
| Q2 24 | 0.4% | 1.8% |
现金转化率PEGASOUN
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | -0.55× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 2.87× | — | ||
| Q1 25 | 2.39× | -0.15× | ||
| Q4 24 | 0.80× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.06× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
SOUN
| Hosted Services | $37.7M | 68% |
| Licensing | $12.6M | 23% |
| Professional Service | $4.6M | 8% |
