Progress Soft Stock Price, News & Analysis

Progress (Nasdaq: PRGS) announced a partnership with P.F. Chang’s, enhancing its digital presence through a new website powered by Progress Sitefinity. This transformation has significantly improved site performance, yielding a 41% increase in page views, a 40% increase in top-ranked keywords on Google, and a 20% growth in organic impressions on menu pages year-over-year. The revamped site focuses on ADA compliance and accessibility, enhancing usability for various users. The collaboration with Americaneagle.com has reduced the dependency on frontend developers, thereby streamlining updates and decreasing maintenance costs. P.F. Chang's digital experience aligns with its omnichannel strategy, emphasizing customer engagement. The efforts earned recognition in the 2022 Progress Sitefinity Website of the Year Awards.

Progress (Nasdaq: PRGS) announced the release of Sitefinity 14.4, enhancing its composable digital experience platform. Key updates include refined AI algorithms for better customer behavior analysis, an upgraded frontend to .NET 7 for improved performance, and expanded conversational interfaces. These advancements aim to support organizations in their digital transformation efforts, allowing for faster and more personalized digital experiences. Additionally, the platform offers long-term support for stability and security, reaffirming Progress’s commitment to its customers' success.

Progress (Nasdaq: PRGS) reported strong fiscal Q1 2023 results, with revenue of $164.2 million, up 13% year-over-year. Non-GAAP revenue was $165.6 million, a 12% increase. The company achieved an Annualized Recurring Revenue (ARR) of $569 million, a 20% increase. Diluted earnings per share rose to $0.53, up 15%, while non-GAAP earnings per share increased by 23% to $1.19. Progress's operating margin improved to 22% GAAP and 44% non-GAAP. Guidance for FY 2023 projects revenue between $676 million and $684 million, with EPS between $1.32 and $1.40.

Progress (Nasdaq: PRGS) announced a virtual Investor Day on April 4, 2023, at 10:00 a.m. Eastern Time. The event will feature presentations from CEO Yogesh Gupta, CFO Anthony Folger, and EVP Jeremy Segal, focusing on the company’s Total Growth Strategy and fiscal year 2023 plans. A Q&A session will follow the presentations. Interested parties can join via a live webcast or by phone. A replay will be available on the Investor Relations section of the Progress website post-event.

Progress provides application development and infrastructure software, serving over 1,700 software companies and millions of developers worldwide.

BURLINGTON, Mass., March 23, 2023 – Progress (Nasdaq: PRGS) announced a free online training and certification program for its OpenEdge development platform. This initiative aims to address the growing IT skills gap, which could reach 85.2 million unfilled tech jobs by 2030. The program includes eight self-paced courses and a certification exam, enabling participants to build enterprise applications using OpenEdge 12. Over 100,000 enterprises currently utilize OpenEdge to streamline mission-critical applications. The certification will provide developers with badges for their professional networks, enhancing career opportunities in the digital economy.

Progress has released its fourth annual Corporate Social Responsibility (CSR) report, showcasing its commitment to inclusivity, sustainability, and community engagement. Key highlights include the establishment of Employee Resource Groups, initiatives for employee wellbeing, and recognition as a top employer in Massachusetts. Charitable donations exceeded $500,000, benefiting over 130 organizations, alongside ongoing scholarships for women in STEM. Progress also advanced its sustainability efforts by tracking carbon impact and reducing plastic use in offices. The company emphasizes a positive impact through its CSR program, demonstrating dedication to its employees and the global community.

Progress (Nasdaq: PRGS) is set to release its financial results for the fiscal first quarter of 2023 on March 28, 2023, after market close. The reporting period ended on February 28, 2023. A conference call will be held at 5:00 p.m. ET on the same day to discuss the results. Investors can tune in via a live webcast on the company's Investor Relations page. An archived version will be available post-call. Progress focuses on application development and infrastructure software, striving to enhance innovation and success for businesses, supported by a wide customer base.