Progress Software Corporation
42.56-3.26 (-7.11%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · PRGS · USD
Key Stats
Market Cap
1.83BP/E (TTM)
39.05Basic EPS (TTM)
1.09Dividend Yield
0%Recent Filings
8-K
Q3 revenue up 40%, guidance raised
Progress Software crushed Q3 2025 with revenue hitting $250 million, up 40% year-over-year, fueled by ARR surging 47% to $849 million on constant currency. ShareFile integration boosted top and bottom lines, while net retention held steady at 100%. The company raised full-year guidance to $975-$981 million in revenue and $5.50-$5.56 non-GAAP EPS. Debt repayment accelerates, yet cyber vulnerabilities linger.
10-Q
Q3 FY2025 results
Progress Software's Q3 FY2025 revenue climbed 40% y/y to $249.8M, fueled by the October 2024 ShareFile acquisition that added $64.6M in SaaS revenue, while software licenses grew 10% y/y to $63.4M on stronger DataDirect and MarkLogic renewals. Gross margin held steady at 81%, but operating income rose 9% y/y to $43.9M amid higher amortization from recent deals; net income dipped 32% y/y to $19.4M, pressured by $17.7M in interest expense from elevated debt. Diluted EPS of $0.44 aligned with 43.7M shares, showing no anti-dilution quirks. Cash from operations hit $172.4M YTD, funding $110M debt repayment on the $1.5B revolver (now at $620M outstanding, 6.32% rate) and $65.1M in buybacks; free cash flow stood at $169.5M (derived). The June 2025 Nuclia buy for $21.4M cash plus $1.1M contingent boosted AI tech with $15.4M goodwill. Ongoing MOVEit litigation poses settlement risks.
8-K
Progress upsizes credit facility to $1.5B
Progress Software secured a $1.5 billion revolving credit facility on July 21, 2025, replacing its prior $900 million arrangement and extending maturity to July 21, 2030. This upsized deal, led by JPMorgan with syndication from Citibank and Wells Fargo, supports general corporate needs while maintaining flexible terms like interest rates from 1.25% to 2.50% over benchmarks based on leverage. Yet the facility imposes standard covenants, including a 3.50x senior secured net leverage cap. Bigger liquidity fuels acquisitions.
8-K
Q2 revenue up 36%, ARR surges 46%
Progress Software reported Q2 revenue of $237 million, up 36% year-over-year, with ARR hitting $838 million—a 46% surge—fueled by strong recurring streams and 100% net retention. The company closed its immaterial acquisition of Nuclia to bolster agentic RAG AI capabilities on its data platform, while ShareFile integration advances ahead of schedule. It raised FY25 guidance to $962-$974 million in revenue and $5.28-$5.40 non-GAAP EPS. ARR growth proves resilient.
10-Q
Q2 FY2025 results
Progress Software's Q2 FY2025 revenue climbed 36% y/y to $237.4M, fueled by the October 2024 ShareFile acquisition that added $65.9M in SaaS revenue, though software licenses dipped 6% y/y to $50.8M on DataDirect renewal timing. Gross margin held steady at 80%, while operating income rose 42% y/y to $38.6M, but net income edged up just 5% y/y to $17.0M after interest expense doubled to $18.1M from acquisition debt. Diluted EPS of $0.39 aligned with 44.2M shares, including if-converted effects from 2026 notes. Operating cash flow for the half-year reached $98.9M, yielding $97.2M free cash flow (derived) after $1.8M capex, with cash at $102.0M and $660.0M on the revolver at 6.67% amid $1.1B total debt. The ShareFile deal closed for $875.0M cash, recognizing $461.1M goodwill and $464.0M finite-lived intangibles amortized over 7 years. Ongoing MOVEit litigation poses a balanced risk, with unresolved class actions and probes.
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