PROGRESS SOFTWARE CORP /MA earnings

Progress Software reported fiscal third quarter revenue of $246.0 million, down from $249.8 million in the prior-year quarter. Management tied the decline to the timing of renewals on multiyear subscription contracts rather than to weaker demand.

Progress Software reported revenue of $253.46 million for the second quarter of fiscal 2026, up 6.8% from the prior-year quarter and up 6% on a constant currency basis. Gross profit rose 9.7% to $208.59 million. Operating income increased 17.1% to $45.20 million, and net income was $21.07 million, up 23.7%.

Progress Software reported $247.8 million of revenue for the fiscal first quarter ended February 28, 2026, up 4.1% from $238.0 million in the prior-year quarter. Increases in license sales of the OpenEdge product offering and a positive foreign currency impact drove the gain.

Progress Software closed fiscal 2025 with fourth-quarter revenue of $252.67 million, up 17.5% from $214.96 million in the prior-year quarter. GAAP operating income rose 78.5% to $38.37 million. GAAP net income was $25.74 million, compared with $1.15 million a year earlier.

Progress Software reported fiscal 2025 third quarter revenue of $249.8 million, up 39.8% from the prior-year quarter. Gross profit rose 35.2% to $202.3 million, and operating income increased 8.7% to $43.9 million. Net income fell 31.8% to $19.4 million, while diluted earnings per share declined $0.21 to $0.44.

Progress Software reported fiscal second quarter revenue of $237.4 million, up 35.6% from the prior-year quarter. The first six months came to $475.4 million, up 32.1%. ShareFile, acquired in the fourth quarter of fiscal 2024, supplied $65.9 million of quarterly revenue and $129.6 million in the first half.

Progress opened fiscal 2025 with revenue of $238.0 million, up 29% from $184.7 million in the prior-year quarter and up 30% at constant currency. Annualized recurring revenue reached $836 million, up 48% from $566 million a year earlier.

Progress Software closed fiscal 2024 with a revenue surge powered by acquisitions, even as GAAP profitability thinned at the bottom line. Fourth quarter revenue reached $214.96 million, up 21.5% from $176.97 million in the prior-year quarter, and full-year revenue was $753.41 million, up 8.5%.

Progress reported fiscal 2024 third-quarter revenue of $178.69 million, up 2.1% from the prior-year quarter. Year-to-date revenue reached $538.45 million, up 4.1%. Gross profit rose 5.3% to $149.62 million in the quarter, and gross margin was 83.7%, up 2.5 percentage points from the prior-year quarter.

Progress reported GAAP revenue of $175.1 million for its fiscal 2024 second quarter, down 1.8% from $178.3 million in the same quarter a year earlier. The six-month view reads better.

Progress reported first quarter fiscal 2024 results for the period ended February 29, 2024. Revenue was $184.68 million, up 12.5% from the prior-year quarter. The top line benefited from the MarkLogic acquisition completed in February 2023.

Progress Software closed fiscal 2023 with fourth-quarter GAAP revenue of $176.97 million, up 12.6% from the prior-year quarter. Non-GAAP revenue was $177.5 million, up 12% year over year on an actual currency basis and 10% in constant currency.

Progress Software reported fiscal third quarter revenue of $174.99 million, up 15.7% year over year, and year to date revenue of $517.47 million, up 16.3%. The MarkLogic acquisition, closed in February 2023, supplied much of the growth, with OpenEdge and Kemp contributing as well.

Progress Software reported fiscal second-quarter 2023 results for the period ended May 31, 2023. GAAP revenue was $178.3 million, up 19.8% year over year. Non-GAAP revenue was $179.2 million, up 19% year over year on both an actual and a constant currency basis.

Progress opened fiscal 2023 with revenue of $164.2 million in the quarter ended February 28, 2023, up 13.3% from $144.9 million a year earlier. Non-GAAP revenue of $165.6 million rose 12% as reported and 14% in constant currency. Management credited demand across nearly all products and geographies.

Progress Software closed fiscal 2022 with fourth-quarter revenue of $157.1 million, up 12.1% from the prior-year quarter, and full-year revenue of $602.0 million, up 13.3%.

Progress Software's fiscal 2022 third quarter was a split story. Revenue rose to $151.2 million from $147.4 million a year earlier, a gain of 2.6%. Gross profit was flat at $127.4 million against $127.3 million. Profitability fell hard.

Progress Software reported fiscal second quarter revenue of $148.75 million, up 21.4% from the same quarter a year ago, and year-to-date revenue of $293.67 million, up 20.5%. The press release put growth at 21% on an actual currency basis and 24% in constant currency.

Progress Software reported first-quarter fiscal 2022 revenue of $144.9 million, up 19.5% from the prior-year quarter. Gross profit rose 17.8% to $121.7 million. Operating income increased 7.4% to $29.4 million. Net income was $20.5 million, up 7.9%. Diluted EPS came in at $0.46, up $0.04.

Progress closed fiscal 2021 with a stronger top line but weaker GAAP profit. Fourth-quarter revenue rose 14.5% to $140.1 million. Gross profit rose 14.3% to $119.0 million. Operating income rose 10.0% to $20.4 million. Net income fell 15.5% to $14.9 million.

Progress reported fiscal third quarter revenue of $147.4 million, up 34.4% from the prior-year quarter. Gross profit rose 34.1% to $127.3 million, and operating income climbed 38.7% to $46.0 million. Net income came in at $31.0 million, up 29.2%, while diluted earnings per share was $0.70 against $0.53 a year ago.

Progress reported fiscal Q2 2021 revenue of $122.5 million, up 22.0% from the prior-year quarter. Gross profit was $103.2 million, up 19.8%, while gross margin slipped to 84.2%, down 1.6 percentage points. Operating income fell 12.0% to $22.3 million, and operating margin was 18.2%, down 7.0 percentage points.

Progress Software reported first quarter fiscal 2021 results for the period ended February 28, 2021. Revenue rose 10.6% to $121.3 million. Gross profit increased 9.0% to $103.3 million, but gross margin slipped to 85.2%, down 1.3 percentage points. Operating income fell 10.7% to $27.4 million.