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Progress Software Corp. (PRGS) provides AI-powered digital experience and infrastructure software used to develop, deploy and manage applications, content, data movement and network operations. Its product portfolio spans Sitefinity, ShareFile, MOVEit, OpenEdge, Chef, Kemp LoadMaster, MarkLogic, DataDirect, Corticon, Flowmon and WhatsUp Gold, covering areas such as content management, document collaboration, managed file transfer, DevOps automation, application development, data connectivity and network security.
Company news commonly covers quarterly financial results, product releases, AI capabilities, security and compliance features, and global workforce operations. Recent recurring themes include Sitefinity Generative CMS, ShareFile document workflows, expansion of engineering and customer operations in India, corporate social responsibility reporting and STEM scholarship initiatives.
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.
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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.
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)/b) in providing comprehensive detection and mitigation of cyber threats. With features such as threat detection, incident response, and automated threat mitigation, Flowmon ADS is designed to protect enterprise networks from evolving cyber threats, especially with the rise of remote work. The report emphasizes Flowmon's scalability and ability to reduce manual efforts in system management, positioning it favorably in the growing NDR market.
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.