Progress Soft Stock Price, News & Analysis

Progress (Nasdaq: PRGS) announces the launch of Progress Chef Cloud Security on May 25, aimed at enhancing DevSecOps capabilities for cloud environments. This solution supports compliance across various cloud assets, significantly improving security and management for organizations operating in multi-cloud landscapes. The offering aligns with the growing demand for cloud services, projected to exceed $1.3 trillion by 2025. Key features include policy checks throughout the DevOps pipeline and expanded integrations for diverse technologies, enhancing ease of use and operational efficiency.

Progress (Nasdaq: PRGS) has announced the launch of Progress360, a global conference merging DevReach, ChefConf, and an Executive Forum. Scheduled for September 11-14, 2022, this event aims to empower industry professionals with actionable insights tailored to their needs. Held at the Westin Waterfront Hotel in Boston, MA and streamed globally, it will feature discussions on app development technologies, DevOps, and executive leadership. The CEO emphasized the need for an innovator mindset in today’s competitive landscape.

Progress has sold its headquarters in Bedford, MA, after over 30 years, and relocated to Burlington, MA. This new site aligns with the company's 'Future of Work' approach, providing employees flexible work options. The move aims to enhance collaboration with open meeting spaces and support sustainable practices by reducing the company's physical footprint. Progress CEO Yogesh Gupta emphasized the need for a headquarters that meets evolving workplace demands. The Bedford campus, known for developing key products like Progress OpenEdge, has been central to the company's history.

Progress (Nasdaq: PRGS) has announced that its MOVEit file transfer solution has been recognized as a Leader in G2’s Spring 2022 Grid® Report for Managed File Transfer, achieving first place overall. MOVEit also ranked first in 20 other G2 reports, emphasizing its strong customer satisfaction with over 150 positive reviews. Additionally, it was named a Gold Medalist in the 2022 Managed File Transfer Data Quadrant Awards by SoftwareReviews. Progress highlights its focus on delivering trustworthy, high-performance solutions that address customer needs, aiming to lead the market with ongoing innovations.

Progress (Nasdaq: PRGS) has released its third annual Corporate Social Responsibility (CSR) report, featuring a new Sustainability Appendix. Highlights include hiring the first Chief Inclusion and Diversity Officer, expanding Employee Resource Groups, and donating $400,000 to support 74 charities. The report emphasizes inclusion, diversity, and sustainability initiatives, with investment in sustainable office spaces and improved energy tracking. CEO Yogesh Gupta noted the importance of sustainability in business and its impact on financial performance.

Progress (Nasdaq: PRGS) reported strong fiscal first quarter results for the period ended February 28, 2022. Revenue reached $144.9 million, a 19% year-over-year increase. Non-GAAP revenue was $147.5 million, up 12%. Diluted earnings per share rose to $0.46, a 10% increase from last year. The company also increased its full-year revenue guidance to $601 - $609 million and EPS guidance to $2.16 - $2.23. Operating margins were 20% GAAP and 40% non-GAAP. Annualized Recurring Revenue (ARR) grew to $479 million, a 12% increase.

Progress (Nasdaq: PRGS) has launched over 35 new DataDirect connectors that provide real-time access to various data sources including Foursquare, Google Calendar, and Twitter. These connectors help organizations bridge data gaps for improved analytics-driven decision-making. The integration of disparate data sources is crucial for businesses looking to enhance customer understanding and operational insights in a digital-first environment. Progress aims to empower enterprises to leverage unique data types to drive revenue and customer success effectively.

Progress (Nasdaq: PRGS) has launched the latest version of WhatsUp Gold 2022, enhancing IT infrastructure monitoring through integration with Flowmon. This update, following Progress’ acquisition of Kemp, provides organizations with comprehensive network traffic performance monitoring and diagnostics. The release aims to simplify management of hybrid environments and improve issue resolution times, thereby minimizing business impact from service disruptions. Enhanced security features include anomaly detection capabilities to combat threats. WhatsUp Gold is recognized as a leader in network monitoring solutions.

Progress (Nasdaq: PRGS) is set to release its financial results for Q1 fiscal year 2022 on March 29, 2022, after market close. This fiscal quarter ended on February 28, 2022. Investors are invited to join a conference call at 5:00 p.m. ET the same day to discuss the results. The investor relations webpage will host an archive of the call and related materials post-event. Progress continues to support over 1,700 software companies and 3.5 million developers, driving innovation and application management.