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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Total revenue $ 256,268 $ 225,951 $ 895,469 $ 718,917
Cost of revenue        
Total cost of revenue 84,222 77,799 251,200 234,018
Gross profit 172,046 148,152 644,269 484,899
Operating expenses        
Selling and marketing 152,479 132,053 457,641 395,684
Research and development 64,728 60,024 191,565 177,620
General and administrative 20,176 17,907 57,607 49,192
Total operating expenses 237,383 209,984 706,813 622,496
(Loss) from operations (65,337) (61,832) (62,544) (137,597)
Foreign currency transaction gain (loss) 518 4,236 (4,983) 2,545
Interest income 166 243 555 1,092
Interest expense (1,908) (5,956) (5,747) (13,791)
(Loss) income on capped call transactions (14,735) 18,989 (7,543) 19,816
Other income, net 2 0 108 1,374
(Loss) before (benefit from) income taxes (81,294) (44,320) (80,154) (126,561)
(Benefit from) income taxes (24,826) (25,053) (54,360) (61,182)
Net (loss) $ (56,468) $ (19,267) $ (25,794) $ (65,379)
(Loss) per share        
Basic (in dollars per share) $ (0.69) $ (0.24) $ (0.32) $ (0.82)
Diluted (in dollars per share) $ (0.69) $ (0.24) $ (0.32) $ (0.82)
Weighted-average number of common shares outstanding        
Basic (in shares) 81,526 80,537 81,284 80,191
Diluted (in shares) 81,526 80,537 81,284 80,191
Pega Cloud        
Revenue        
Total revenue $ 78,369 $ 54,776 $ 219,520 $ 147,080
Cost of revenue        
Total cost of revenue 25,524 19,717 72,132 56,238
Maintenance        
Revenue        
Total revenue 83,188 74,670 237,531 220,587
Cost of revenue        
Total cost of revenue 5,293 5,478 16,074 16,645
Software license        
Revenue        
Total revenue 38,295 39,784 272,148 187,023
Cost of revenue        
Total cost of revenue 656 691 1,962 2,354
Consulting        
Revenue        
Total revenue 56,416 56,721 166,270 164,227
Cost of revenue        
Total cost of revenue $ 52,749 $ 51,913 $ 161,032 $ 158,781