Progress Soft Stock Price, News & Analysis

Progress reported fiscal Q1 2021 results showing revenue of $121.3 million, an 11% increase year-over-year, exceeding guidance. Non-GAAP revenue reached $131.8 million, a 16% rise. Annualized Recurring Revenue (ARR) grew by 22%, driven by the acquisition of Chef Software. Operating margin was 23%, while Non-GAAP operating margin was 43%. Although diluted EPS saw a 9% decline to $0.42, it rose 25% on a Non-GAAP basis to $0.95. The company has revised guidance upwards for the full year and Q2.

Progress (NASDAQ: PRGS) announced enhancements to the Chef Enterprise Automation Stack and Chef Infra Client 17, aiming to improve enterprise DevOps automation. New features include compliance audits integration, state management dashboards, and a unified developer experience. Chef Infra Client 17 offers streamlined developer experiences and expanded platform support, enhancing ease of use across various environments. A recognition program for Chef Community contributors will culminate in an April 28 launch event, highlighting the importance of community collaboration in product development.

Aquarion Water Company, New England's largest private water utility, has revamped its web presence through Progress® Sitefinity® Digital Experience Platform (DXP). This modernization enables Aquarion to consolidate 65% of its content and enhance user experience for over 700,000 customers across Connecticut, Massachusetts, and New Hampshire. The effort, in collaboration with Chateaux, won the Progress Sitefinity 2020 Website of the Year Award. As a result, Aquarion can better engage customers with a mobile-friendly, easy-to-navigate website, meeting modern digital interaction demands.

Progress (NASDAQ: PRGS) has announced that it will release its fiscal first quarter financial results on March 25, 2021, after market close. The quarter ended on February 28, 2021. A conference call to discuss the results will take place at 5:00 p.m. ET the same day. Interested parties can access the call via the company’s investor relations page or by dialing in. Progress is recognized as a leader in providing tools for developing and managing high-impact business applications, serving over 100,000 enterprise customers and a community of three million developers.

Progress (NASDAQ: PRGS) announced the release of Sitefinity 13.3, enhancing stability, security, and usability for enterprise-grade digital experiences. This version introduces long-term support (LTS), ensuring customers receive four years of extended service. Key improvements include advanced analytics, user group configuration, and streamlined developer tools, aiming to boost efficiency and reduce IT dependency. The new features are designed to meet rising customer expectations in a post-COVID world, offering businesses a reliable platform to navigate evolving demands.

Progress (NASDAQ: PRGS) announced its R1 2021 release of Telerik Test Studio, enhancing enterprise UI test automation. The new features include headless browser execution, accelerating test execution by threefold without additional configuration. The redesigned storyboard improves user experience and facilitates onboarding. Additionally, automated PDF content validation is now integral, supporting RPA processes. This release aims to boost development speed and quality, enabling teams to streamline their workflows effectively.

Progress (NASDAQ: PRGS) launched the OpenEdge on AWS Quick Start, enabling rapid migration of critical business applications to the AWS Cloud. This automated deployment uses AWS CloudFormation to set up a highly available, three-tier OpenEdge environment in just 20 minutes. The solution aims to modernize legacy applications, enhancing flexibility and scalability for organizations. With over 100,000 enterprises relying on OpenEdge, this launch positions Progress to better support customers' cloud transitions and streamline the application deployment process.

Progress (NASDAQ: PRGS) announced its partnership with Calgary Foothills Primary Care Network, a Canadian healthcare organization, to implement WhatsUp Gold, a network monitoring software. This implementation aims to enhance network performance by swiftly identifying and resolving issues, particularly as remote access demand has surged during the COVID-19 pandemic. Calgary Foothills PCN, serving over 379,000 patients with more than 490 family doctors, aims to improve IT efficiency and resource allocation.