Important Information Regarding Non-GAAP Financial Information Progress furnishes certain non-GAAP supplemental information to our financial results. We use such non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that by excluding the effects of certain GAAP-related items that in their opinion do not reflect the ordinary earnings of our operations, such information helps to illustrate underlying trends in our business and provides us wit ...

Progress Software Corporation (NASDAQ:PRGS) Q2 2024 Earnings Conference Call June 25, 2024 5:00 PM ET Company Participants Mike Micciche - VP, IR Yogesh Gupta - CEO Anthony Folger - CFO Conference Call Participants Fatima Boolani - Citigroup Pinjalim Bora - JPMorgan John DiFucci - Guggenheim Securities Harshil Thakkar - Oppenheimer Lucky Schreiner - D.A. Davidson Antonio Venturim - Jefferies Operator Good day and welcome to the Progress Software Corporation Q2 2024 Earnings Call. At this time all participan ...

Core Insights - Progress Software (PRGS) reported revenue of $175.08 million for the quarter ended May 2024, reflecting a year-over-year decline of 2.3% [1] - The earnings per share (EPS) for the same period was $1.09, compared to $1.06 a year ago, indicating a positive growth in EPS [1] - The reported revenue exceeded the Zacks Consensus Estimate of $168.6 million by 3.85%, while the EPS surprise was 14.74% against the consensus estimate of $0.95 [1] Revenue Breakdown - Revenue from Services was $18.60 million, surpassing the average estimate of $16.66 million based on three analysts [3] - Revenue from Maintenance reached $102.50 million, exceeding the average estimate of $98.91 million based on three analysts [3] - Combined Revenue from Maintenance and Services was $121.10 million, compared to the three-analyst average estimate of $115.57 million, showing a year-over-year change of -0.6% [3] - Revenue from Software Licenses was $53.98 million, above the average estimate of $52.42 million based on three analysts, but represented a year-over-year decline of 4.3% [3] Stock Performance - Over the past month, shares of Progress Software have returned -2.6%, contrasting with the Zacks S&P 500 composite's increase of +2.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

This quarterly report represents an earnings surprise of 14.74%. A quarter ago, it was expected that this business software maker would post earnings of $1.14 per share when it actually produced earnings of $1.25, delivering a surprise of 9.65%. Progress Software, which belongs to the Zacks Computer - Software industry, posted revenues of $175.08 million for the quarter ended May 2024, surpassing the Zacks Consensus Estimate by 3.85%. This compares to year-ago revenues of $179.23 million. The company has to ...

Exhibit 99.1 "Our outperformance in the second quarter of fiscal 2024 was once again driven by steady demand for our products, with revenues and EPS ahead of our forecast, and ARR up 1%," said Yogesh Gupta, CEO of Progress. "We are focused on M&A while our sales teams continue to execute well in the field, and internally we drive customer success, innovation and margins." Additional financial highlights included: | | | | | | Three Months Ended | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Second Quarter Revenues and Earnings Per Share Ahead of Guidance Raising Full Year Revenue and Earnings Per Share Outlook Second Quarter 2024 Highlights1: "Our outperformance in the second quarter of fiscal 2024 was once again driven by steady demand for our products, with revenues and EPS ahead of our forecast, and ARR up 1%," said Yogesh Gupta, CEO of Progress. "We are focused on M&A while our sales teams continue to execute well in the field, and internally we drive customer success, innovation and margi ...

Employer of Choice Leadership Progress was also honored multiple times for its ongoing commitment to inclusion, sustainability and its vibrant CSR program, Progress for Tomorrow. Progress was recognized by: About Progress Progress is a trademark or registered trademark of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners. Chief Inclusion & Diversity Officer Shirley Know ...

Employer of Choice Leadership BURLINGTON, Mass., June 24, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of infrastructure software, today announced that it has received numerous accolades from prestigious organizations for its employee satisfaction, executive leadership, inclusive workplace and commitment to corporate social responsibility. Progress operates with a "people-centric" mindset and strives to provide an inclusive work environment. It offers numerous talent development op ...

Analysts expect the Burlington, Massachusetts-based company to report quarterly earnings at 95 per share, down from $1.06 per share in the year-ago period. Jabil is expected to post revenue of $168.42 million, according to data from Benzinga Pro. On March 26, Progress Software posted better-than-expected first-quarter results. With the recent buzz around Progress Software, some investors may be eyeing potential gains from the company's dividends. As of now, Progress Software has a dividend yield of 1.45%. T ...

BURLINGTON, Mass., June 11, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of infrastructure software, today announced that it will release financial results for its fiscal second quarter of 2024 after the market close on Tuesday, June 25, 2024. The company's second quarter of fiscal year 2024 ended on May 31, 2024. Conference Call Details A live webcast of the conference call will be available here. The webcast will be listen-only, and a replay will be available shortly after the ca ...