Progress Soft Stock Price, News & Analysis

Progress (Nasdaq: PRGS) announced that its MOVEit managed file transfer software has earned a spot in G2's 2025 Best Software Award in the Best IT Infrastructure Products category. Out of 6,562 products, MOVEit was among only 13 to maintain its position from the previous year.

The software has achieved several notable distinctions, including being the only MFT solution to make the Best IT Infrastructure list for three consecutive years (2023-2025) and maintaining leadership in G2's quarterly MFT report since spring 2020.

MOVEit's core features include:

• Advanced security with ISO 27001, SOC 2 Type 2, FIPS 140-2, GDPR, HIPAA, and PCI 4.0 compliance
• Automated workflow capabilities
• Comprehensive oversight with audit logging
• Flexible cloud and on-premises deployment options

Progress (PRGS) reported strong Q1 2025 financial results, with revenue reaching $238 million, marking a 29% year-over-year growth. The company's Annualized Recurring Revenue (ARR) grew impressively by 48% year-over-year to $836 million.

Key financial metrics include an operating margin of 14% (non-GAAP 39%), and diluted EPS of $0.24 (down 53% YoY), while non-GAAP EPS increased 5% to $1.31. The company maintained strong cash positions with $124.2 million in cash and equivalents, and improved Days Sales Outstanding to 48 days.

During Q1, Progress repurchased $30 million of shares and paid down $30 million of their revolving credit line used for the ShareFile acquisition. The ShareFile integration is progressing as planned and expected to complete by year-end.

Progress (Nasdaq: PRGS) announced that its recently acquired ShareFile solution has been named a Visionary in the 2024 Gartner Magic Quadrant for Document Management. ShareFile was evaluated among 15 vendors based on 'Ability to Execute' and 'Completeness of Vision'.

As a SaaS-native, AI-powered content collaboration platform, ShareFile offers features including collaboration workflows, client portals, document request lists, native e-signature functionality, threat detection alerts, AI-powered secure share recommender, and email plug-ins. The recognition highlights ShareFile's role in addressing the challenge where 70-80% of enterprise information is unstructured.

Progress (PRGS) has announced it will release its fiscal first quarter 2025 financial results on Monday, March 31, 2025, after market close. The fiscal quarter ended on February 28, 2025. The company, which specializes in AI-powered digital experience and infrastructure software, will host a conference call with investors at 5:00 p.m. ET on the same day to discuss the results.

Participants are encouraged to join the conference call 15 minutes before the scheduled start time to avoid delays. The company will make both a live webcast and dial-in options available for attendees. Following the live event, an archived version of the call and supporting materials will be accessible through the Progress Investor Relations webpage.

Progress (PRGS) has announced the release of over 50 free enterprise-grade UI components from its KendoReact™ library, making professional development tools more accessible to the React community. The offering includes popular components like DropDownList, DatePicker, MultiSelect, and Buttons, along with React Data Grid features and four professional themes.

According to the 2024 Stack Overflow Developer Survey, nearly 42% of professional developers use React. The initiative aims to democratize access to high-quality UI components and accelerate business application development. Progress is also launching a 2-week virtual Dev Challenge for innovative uses of the free KendoReact UI components, with categories including best app showcase and best use of Generative AI.

Progress (PRGS) has been named to the Constellation ShortList™ for DevOps in Q1 2025, marking its seventh consecutive year on this prestigious list. The company's Chef platform was recognized as a 'solution to know' by Constellation Research for its role in digital transformation.

The Chef portfolio provides automation tools for infrastructure, orchestration, compliance, and application management, enabling DevOps teams to manage systems at scale. Progress recently launched a fully managed, cloud-based platform offering enterprise job orchestration capabilities, featuring automatic maintenance, version upgrades, and security updates.

The Constellation ShortList recognition is based on client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research. The list is updated annually to reflect market conditions and helps leaders leverage disruptive technologies for business transformation.

Progress (PRGS) has opened applications for its 2025 Women in STEM Scholarship Series across three regions. The program includes:

• The Mary Székely Scholarship ($10,000) for Massachusetts women entering first-year undergraduate studies in computer science and related fields
• The Women in STEM Scholarship in Bulgaria (BGN 3,000 each, ~$1,700) for two students in their second to fourth year
• The Akanksha Scholarship in India (INR 1,50,000, ~$2,000 annually) for women pursuing undergraduate degrees in tech-related fields

Applications close on April 11, 2025. The scholarship series, established in 2019, is part of Progress' Corporate Social Responsibility program 'Progress for Tomorrow' and operates in regions where the company has significant presence.

Progress (PRGS) has announced the integration of Web Application Firewall (WAF) functionality into its MOVEit Cloud managed file transfer solution. This enhancement arrives ahead of the March 31, 2025 deadline for PCI DSS 4.0 compliance, which requires WAF deployment for public-facing applications.

The new WAF feature automatically monitors and filters HTTPS traffic to protect against injection attacks and unauthorized file access. The solution is built on OWASP-based industry standards and is backed by Progress's ISO 27001 and SOC 2 certifications.

Key benefits include:

• Enhanced security against OWASP Top 10 threats
• Compliance with PCI DSS 4.0, HIPAA, HITECH, and HIPAA Omnibus standards
• 24/7 monitoring and support from Progress security specialists
• Multi-node scaling capabilities for managing demand spikes
• Streamlined administration with Progress experts managing WAF updates and testing

Progress (PRGS) has appointed Ed Keisling as its first Chief AI Officer (CAIO), reporting directly to CEO Yogesh Gupta. In this newly created position, Keisling will lead the company's AI strategy and transform its product portfolio to support customers' AI initiatives.

Keisling previously served as Senior Vice President of Engineering for Infrastructure Management at Progress, where he drove innovation and operational efficiency. His prior experience includes executive positions at Vecna Technologies and senior engineering roles at Pegasystems spanning 17 years.

Progress emphasizes its commitment to AI innovation, currently delivering AI-powered digital experience and infrastructure software to hundreds of thousands of customers worldwide. The company has been incorporating AI capabilities into its products and aims to enhance tools, processes, and expertise to help customers leverage AI's potential.