Progress Soft Stock Price, News & Analysis

Progress (Nasdaq: PRGS) has announced participation in the 17th Annual Needham Technology & Media Conference, with CFO Anthony Folger and VP of Investor Relations Michael Micciche representing the company. The conference will occur both in-person and virtually, providing opportunities for one-on-one meetings with qualified investors on May 18. Progress, a leader in infrastructure software, continues to empower businesses through innovative solutions that enhance application development and management. For more details, potential investors can reach out to the Needham conference coordinator.

Progress (Nasdaq: PRGS) announced the release of MOVEit 2022, an enhanced Managed File Transfer (MFT) software that simplifies secure file sharing within organizations. Key features include a new Microsoft Outlook Add-in for seamless file transfer, SQL Server Always-On compatibility for improved availability, and enhanced logging and reporting capabilities. This update aims to bolster data security and streamline user experience as data sharing increases in enterprises. MOVEit 2022 is available as a free upgrade for current customers.

Progress (PRGS) announced an exciting update for its Telerik and Kendo UI libraries, adding over 30 new components compatible with .NET 7 and enhancing cross-product integration. The release features nearly 100 UI components for Blazor, comprehensive support for .NET MAUI, and several new features aimed at improving developer productivity. Key updates include new components for both Telerik and Kendo UI frameworks, along with productivity tools for Visual Studio. This release underscores Progress's commitment to empowering developers in creating modern applications efficiently.

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.