Welcome to our dedicated page for Progress Soft news (Ticker: PRGS), a resource for investors and traders seeking the latest updates and insights on Progress Soft stock.
Progress Software Corporation (Nasdaq: PRGS) provides essential infrastructure solutions for enterprise application development and digital transformation. This dedicated news hub offers investors and technology professionals a centralized source for verified updates about the company's strategic direction and market position.
Access real-time insights through official press releases, financial disclosures, and operational developments. Our curated collection includes updates on product innovations, partnership announcements, and corporate milestones related to PRGS's AI-powered software solutions.
Key content categories cover financial results, technology advancements, strategic acquisitions, and industry leadership initiatives. Stay informed about developments in cloud infrastructure tools, data management systems, and developer productivity solutions that define PRGS's market offerings.
Bookmark this page for continuous access to Progress Software's evolving story in enterprise technology. Combine these updates with fundamental analysis tools available through Stock Titan to maintain informed perspectives on infrastructure software investments.
Progress (NASDAQ: PRGS) has completed the acquisition of MarkLogic for $355 million, reinforcing its Total Growth Strategy aimed at enhancing its product portfolio and customer relationships. The acquisition adds a powerful NoSQL database and semantic AI capabilities to Progress, enabling the management of complex, contextual data from a unified platform. CEO Yogesh Gupta emphasized the strategic importance of this move in driving customer success and expanding market reach. The transaction is expected to positively impact non-GAAP earnings and cash flow starting Q2 2023, marking a significant growth opportunity for Progress.
Progress has been recognized as a Technology Leader in the 2022 SPARK Matrix™ for Network Detection and Response (NDR) by Quadrant Knowledge Solutions. This accolade highlights the effectiveness of Flowmon Anomaly Detection System (ADS)
Progress (Nasdaq: PRGS) announced the R1 2023 release of its Telerik and Kendo UI libraries, enhancing support for .NET 7 and Angular 15. Key updates include new UI components such as Signature and Avatar, improved customization tools like ThemeBuilder Pro, and significant accessibility enhancements. The libraries now comply with standards such as WAI-ARIA and WCAG 2.1. Notably, the release features over 100 components for Blazor and updates across various platforms, showcasing Progress's commitment to empowering developers with tools for inclusive app development.
Progress (NASDAQ: PRGS) reported strong financial results for Q4 2022, with revenue of $157.1 million, a 12% increase year-over-year. Non-GAAP revenue reached $159.2 million, growing 11% year-over-year. Diluted EPS improved 64% to $0.54, surpassing guidance, while non-GAAP diluted EPS increased 22% to $1.12. The company achieved an operating margin of 19% (non-GAAP: 39%). Annualized Recurring Revenue (ARR) stood at $497 million, up 3.5% year-over-year. Additionally, Progress announced a definitive agreement to acquire MarkLogic, anticipated to enhance annualized sales beyond $700 million. Guidance for FY 2023 projects revenue of $671 - $681 million.
Progress (NASDAQ: PRGS) announced the recipient of the 2022 Akanksha Scholarship for Women in STEM in India, awarded to Latha Bethelli, a computer science student. This four-year renewable scholarship supports women pursuing degrees in technology fields. Applications for the 2023 Mary Székély Scholarship in the U.S. are open until March 10, 2023. This initiative is part of Progress’s commitment to gender equity and empowering women in STEM. CEO Yogesh Gupta emphasized the importance of diverse perspectives in fostering innovation.
Progress (Nasdaq: PRGS) will release its fiscal fourth quarter and year 2022 financial results on January 17, 2023, after market close. The fiscal year ended on November 30, 2022. A conference call to discuss the results will follow at 5:00 p.m. ET on the same day, available via webcast on the investor relations page of Progress' website. An archive will be accessible after the call. Progress provides application development and infrastructure software, supporting hundreds of thousands of enterprises globally.
Progress has announced the acquisition of MarkLogic for $355 million, enhancing its product suite with a NoSQL database and semantic metadata management capabilities. The deal is anticipated to close in early 2023, pending regulatory approvals. This acquisition aligns with Progress' Total Growth Strategy and is expected to generate over $100 million in annual revenue. Preliminary fourth quarter 2022 results indicate an ARR of approximately $497 million, marking a 3.5% year-over-year growth. The financial call detailing further insights is scheduled for January 17, 2023.
Progress (Nasdaq: PRGS) has been recognized by The Boston Club in its 2022 Census of Women Directors and Executive Officers as one of nine companies with a 'critical mass of Women Directors and Executive Officers' in Massachusetts. This recognition highlights Progress' commitment to inclusion and diversity, as it aligns with the census' findings that women now hold nearly 30% of board positions among the largest public companies in the state. CEO Yogesh Gupta emphasizes the company’s focus on gender parity and social responsibility.
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