Progress Soft Stock Price, News & Analysis

Progress (NASDAQ: PRGS) reported strong Q2 2021 results, exceeding revenue and earnings guidance. Revenue reached $122.5 million, a 22% year-over-year increase, with Non-GAAP revenue at $129.2 million, up 26%. Annualized Recurring Revenue (ARR) was $437 million, reflecting a 23% increase. Despite a 19% drop in diluted EPS to $0.30, Non-GAAP EPS rose 30% to $0.82. The company announced a $250 million share repurchase program and raised its full-year guidance, anticipating revenue between $503-509 million.

Progress (NASDAQ: PRGS) announced enhanced digital marketing capabilities in the latest release of Progress® Sitefinity Insight, a SaaS analytics and optimization system. These updates aim to support marketers adapting to the post-COVID landscape, providing real-time data for personalized campaigns. Key features include advanced conversion attribution modeling, lead scoring rules, and audience intelligence. Alongside Sitefinity Insight, Progress also introduced simplified domain management in Sitefinity Cloud, a PaaS that improves operational efficiency.

Progress (NASDAQ: PRGS) has announced that it will recognize Juneteenth as an annual paid holiday for all U.S. employees, starting June 18, 2021. This decision reflects the company's commitment to diversity and inclusion, emphasizing the need for ongoing efforts towards equity and justice in America. Dr. Shirley Knowles, Chief Inclusion and Diversity Officer, highlighted the significance of this day in celebrating Black culture and achievements. The company supports diversity through various initiatives, including Employee Resource Groups and partnerships with organizations promoting social justice.

Progress (NASDAQ: PRGS) announced significant recognition as a leader in DevOps and DevSecOps from prominent analysts including GigaOm, Kisaco Research, and Constellation Research. These accolades highlight Progress's success post-acquisition of Chef in enhancing its product portfolio. Notably, Chef Compliance garnered acclaim from GigaOm for its continuous compliance capabilities. This acknowledgment reflects customer confidence and positions Progress favorably amidst ongoing digital transformations.

Progress (NASDAQ: PRGS) will release its fiscal second quarter financial results on June 24, 2021, after market close. The quarter ended on May 31, 2021. A conference call will follow at 5:00 p.m. ET to discuss these results. Interested parties can join the call via investors.progress.com or by dialing 800-458-4121, with a passcode of 3588537. Archived materials will be available post-call on the Progress Investor Relations page.

Progress (NASDAQ: PRGS) announced that Mark Troester, VP of Strategy, will speak at the DesignOps Global Conference on June 10, focusing on bridging the gap between designers and developers. The theme for this year’s conference is “Accessibility & Inclusivity – Design For All”. Troester will share insights on DesignOps and best practices to improve collaboration and efficiency. In addition, he will participate in a panel discussing inclusive brand and user experiences. The event is virtual, accessible to pass holders at designops-conference.online.

Progress (NASDAQ: PRGS) has received a prestigious 5-Star rating in CRN's 2021 Partner Program Guide, marking its ninth 5-star recognition and 12th year in the guide. This accolade highlights Progress Accelerate's robust partner program, which offers extensive tools and resources across three levels—Titanium, Gold, and Silver. The rating is awarded based on factors such as partner profitability and support, reflecting Progress's commitment to fostering partner growth in a competitive IT landscape.

Progress has launched new DataDirect connectors that facilitate direct, real-time connectivity to major data sources like Google BigQuery and Salesforce. Available on AWS Marketplace, these connectors simplify data movement for users of AWS Glue, a serverless data integration service. The connectors enhance access to real-time data, breaking down silos for better analytics and machine learning applications.

Progress aims to empower developers and analysts by improving data connectivity, throughput, and scalability across various platforms.

Americaneagle.com announced that its client websites for Legal & General America, Cleco, and XTRA Lease won in three categories at the 2021 Progress Sitefinity Website of the Year Awards. Recognized for their outstanding digital experiences, these sites were evaluated based on visual design, content, and innovation. The awards highlight the effectiveness of Americaneagle.com in utilizing the Sitefinity platform, with the company emphasizing that the platform has enabled high-quality website delivery. Progress, a key partner, acknowledged Americaneagle.com for its role in helping clients adapt to a changing digital landscape.