Progress Soft Stock Price, News & Analysis

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.

Progress (PRGS) has been recognized in the 2025 Gartner Magic Quadrant for Digital Experience Platforms for the fourth consecutive year, among 17 evaluated vendors. The recognition highlights Progress's ability to deliver AI-powered digital experiences and infrastructure software.

The company's Digital Experience (DX) portfolio, featuring the Progress Sitefinity platform, enables organizations to build and deliver digital experiences across websites, portals, and applications. Recent innovations include:

• Native support for Next.js framework
• Generative AI integration through Sitefinity's Integration Hub and Azure OpenAI services
• Advanced AI-driven journey mapping with conversion propensity scoring
• Recognition of Sitefinity Insight by the Customer Data Platform Institute

The platform particularly caters to mid-size organizations seeking user-friendly alternatives to complex platforms, focusing on customer acquisition and retention through scalable, secure solutions.

Progress (PRGS) has launched Progress® Data Cloud℠, a managed Data Platform as a Service designed to streamline enterprise data and AI operations in the cloud. The platform offers managed hosting for Progress® Semaphore™ and Progress® MarkLogic® products, with plans for future expansion.

The new platform features simplified operations through automated infrastructure management, cost efficiency with predictable pricing and no egress fees, enhanced security with SOC 2 Type 1 compliance, and superior scalability for mission-critical operations. For MarkLogic customers, it provides managed hosting with full feature parity, while Semaphore users will find it replacing Semaphore Cloud with improved performance and additional features.

The platform aims to help organizations accelerate their digital transformation and AI initiatives while reducing operational complexity and IT overhead, offering self-service access controls and comprehensive tenancy management.

Progress (PRGS) reported strong Q4 and full-year 2024 results, with Q4 revenue reaching $215 million, up 21% year-over-year. The company's Annualized Recurring Revenue (ARR) grew significantly by 46% to $842 million. Q4 operating margin was 10% GAAP and 37% non-GAAP, while diluted EPS was $0.03 GAAP (down 91%) and $1.33 non-GAAP (up 30%).

For the full year 2024, revenue increased 8% to $753 million, with operating margin at 16% GAAP and 40% non-GAAP. Cash flow from operations grew 22% to $211 million. The company completed the acquisition of ShareFile, an AI-powered SaaS content collaboration platform. Progress suspended its quarterly dividend to prioritize debt repayment and future M&A.

For FY2025, Progress guides revenue between $958-$970 million with non-GAAP EPS of $5.00-$5.12.

Progress (PRGS) has received multiple awards in late 2024 for its workplace culture and corporate social responsibility initiatives. The company ranked #5 in The Boston Globe's Top Places to Work in Massachusetts for the fourth consecutive year and was named a 2024 DEI Champion. Progress also earned recognition from Newsweek as one of America's Most Responsible Companies 2025 and America's Greenest Companies 2025.

The company's Corporate Social Responsibility program, 'Progress for Tomorrow', focuses on people, global community, and environmental initiatives. Notable achievements include winning the USA National Gold title at the International CSR Excellence Awards and receiving multiple accolades for its diversity and inclusion efforts, including a Silver Globee® Award for Achievement in Diversity, Equity and Inclusion.

Progress maintains workplace programs focused on talent development, leadership growth, comprehensive benefits, and employee resource groups (ERGs). The company also supports Women in STEM scholarships and promotes volunteerism among employees.

Progress Software (PRGS) has announced it will release its Q4 and fiscal year 2024 financial results on January 21, 2025, after market close. The company's fiscal year concluded on November 30, 2024. A conference call to discuss the results is scheduled for 5:00 p.m. ET on the same day. Participants are encouraged to join the call 15 minutes before the scheduled start time to avoid delays. The company will provide access to a live webcast and phone-in options, with archived versions of the call and supporting materials to be made available on the Progress Investor Relations webpage afterward.

Progress (PRGS) announced a partnership with the American Institute of CPAs (AICPA), making Progress® ShareFile® the exclusive document workflow and secure file-sharing solution in AICPA's Member Discount Program. ShareFile, an AI-powered document-centric collaboration platform, offers AICPA members features including workflow streamlining, standardized tax preparation processes, and enhanced client experience through a centralized portal.

The platform provides native e-signature capabilities, knowledge-based authentication, and automated reminders to improve operational efficiency. Through this partnership, AICPA members gain access to secure workflow technology that can enhance their operations and improve client experience, regardless of firm size.

M-Files has appointed Jay Bhatt as CEO, following the closing of a majority recapitalization led by Haveli Investments and Bregal Milestone. Bhatt brings extensive operational experience from his previous CEO roles at Alfresco Software, Blackboard, and Progress Software. Former CEO Antti Nivala will transition to Chief Innovation Officer and continue as Chairman of the Board. The leadership change coincides with the completion of the recapitalization deal on November 29, which included participation from CrossParadigm Capital, an investment firm led by Bhatt.

Progress (PRGS) has announced the Q4 2024 release of its Telerik and Kendo UI component libraries, featuring significant updates to enhance design-to-code processes and framework support. The release introduces over 70 new Page Templates and Building Blocks, along with day-zero compatibility for .NET 9 and Angular 19. Key improvements include expanded ThemeBuilder capabilities, new data visualization features including DataGrid-Chart integration, and enhanced reporting capabilities with RTL text support. The update focuses on streamlining UI customization and minimizing CSS work, while providing comprehensive tools for modern user experience development.