The numbers might not be huge but they are growing fast. Total sales came to $42m, up 25% year-on-year. License revenue increased 61% to $13.7m, while services revenue increased 13% to $28.3m.
Net income for the third quarter of 2007 was $3.5m, and it ended the period with $145.2m in cash and short-term investments.
CEO and founder Alan Trefler was understandably upbeat: During the quarter, we closed significant new business with existing customers, continuing to drive growth with our target account strategy. As examples, two large UK government agencies, each with over 10,000 users, and one of the leading global players in financial services significantly expanded their use of Pegasystems products to meet additional business needs across operations and departments.
We also won important new customers around the world, Trefler said, including one of the largest life insurers in the US; the largest bank in Canada; one of the largest commercial banks in Western Europe; and a leading provider of customer relationship management and credit collection services with over 100 different customers in 28 countries.
