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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue        
Total revenue $ 225,951 $ 216,703 $ 718,917 $ 634,841
Cost of revenue        
Total cost of revenue 77,799 80,898 234,018 232,415
Gross profit 148,152 135,805 484,899 402,426
Operating expenses        
Selling and marketing 132,053 115,237 395,684 341,064
Research and development 60,024 52,492 177,620 152,802
General and administrative 17,907 14,843 49,192 41,693
Total operating expenses 209,984 182,572 622,496 535,559
(Loss) from operations (61,832) (46,767) (137,597) (133,133)
Foreign currency transaction gain (loss) 4,236 (1,970) 2,545 (3,577)
Interest income 243 598 1,092 1,865
Interest expense (5,956) (42) (13,791) (42)
Gain on capped call transactions 18,989 0 19,816 0
Other income, net 0 323 1,374 378
(Loss) before (benefit from) income taxes (44,320) (47,858) (126,561) (134,509)
(Benefit from) income taxes (25,053) (17,520) (61,182) (43,158)
Net (loss) $ (19,267) $ (30,338) $ (65,379) $ (91,351)
(Loss) per share        
Basic (in dollars per share) $ (0.24) $ (0.38) $ (0.82) $ (1.16)
Diluted (in dollars per share) $ (0.24) $ (0.38) $ (0.82) $ (1.16)
Weighted-average number of common shares outstanding        
Basic (in shares) 80,537 79,200 80,191 78,928
Diluted (in shares) 80,537 79,200 80,191 78,928
Software license        
Revenue        
Total revenue $ 39,784 $ 58,005 $ 187,023 $ 165,543
Cost of revenue        
Total cost of revenue 691 676 2,354 2,982
Maintenance        
Revenue        
Total revenue 74,670 70,371 220,587 207,406
Cost of revenue        
Total cost of revenue 5,478 6,688 16,645 19,315
Pega Cloud        
Revenue        
Total revenue 54,776 35,153 147,080 94,610
Cost of revenue        
Total cost of revenue 19,717 17,824 56,238 47,769
Consulting        
Revenue        
Total revenue 56,721 53,174 164,227 167,282
Cost of revenue        
Total cost of revenue $ 51,913 $ 55,710 $ 158,781 $ 162,349