Progress Soft (PRGS) Stock News

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.

Progress (Nasdaq: PRGS) announced the release of Sitefinity DX 14.1, enhancing digital experience platform capabilities to enable organizations to create multichannel experiences using .NET 6. Key features include a new .NET 6 package for scalable applications, digital asset management integrations, advanced AI-driven search functionalities, and sophisticated audience segmentation tools. This update comes as organizations face challenges with current DXP solutions, citing a need for adaptability and integration to succeed in digital transformation.”

Progress (Nasdaq: PRGS) has expanded its partnership with Ingram Micro to enhance its application experience products across Sweden, Finland, Denmark, and Norway. This collaboration aims to increase the access of channel partners and resellers to Progress® MOVEit® file transfer and Progress® WhatsUp® Gold network monitoring software. The partnership responds to the growing need for secure and efficient management of business operations amidst rising cyber threats, enabling businesses to improve security and infrastructure visibility.