Progress Software Corp

PRGS

Equity

ISIN US7433121008 / Valor 963966

NASDAQ (2024-09-16)

USD 58.16+0.29%

Progress Software Corp
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About company

Progress Software Corp is a company focused on acquiring infrastructure software companies that cater to mission-critical customer needs worldwide. They prioritize companies that share their commitment to innovation and customer success, aiming to drive revenue growth and expand their customer base. Through their Total Growth Strategy, Progress Software Corp accelerates company performance, supports employee development, and delivers sustained shareholder value by fostering synergistic cultures with the companies they acquire.

Summarized from source with an LLMView SourceSector: Technology

Revenue Performance

Progress Software Corp reported revenue of $175 million for the second quarter of 2024, which represents a 2% decrease year-over-year on both an actual and constant currency basis. Despite the decline, the company noted steady demand for its products.

Earnings Per Share

For the second quarter of 2024, Progress Software Corp achieved a diluted earnings per share (EPS) of $0.37, marking a 37% increase compared to $0.27 in the same quarter last year. On a non-GAAP basis, diluted EPS was $1.09, up 3% from $1.06 in the previous year.

Operating Margin

Progress Software Corp reported an operating margin of 16% for the second quarter of 2024, an improvement from 13% in the same period last year. The non-GAAP operating margin remained steady at 38% year-over-year.

Cash Flow and Dividends

Cash from operations for Progress Software Corp in the second quarter of 2024 was $63.7 million, a 33% increase from $48 million in the same quarter last year. Additionally, the company declared a quarterly dividend of $0.175 per share, payable on September 16, 2024.

Updated Financial Outlook

Progress Software Corp has raised its full-year 2024 revenue guidance to a range of $725 million to $735 million. The company also updated its full-year non-GAAP diluted EPS outlook to a range of $4.70 to $4.80, reflecting confidence in continued strong performance.

Summarized from source with an LLMView Source

Key figures

2.50%1Y

25.9%3Y

42.5%5Y

Performance

23.9%1Y

27.3%3Y

29.9%5Y

Volatility